Vanguard California Long-Term Tax-Exempt Bond is managed by diligent leaders through a sensible and risk-conscious investment process and benefits from ultralow fees. The strategy’s more-expensive Investor share class retains a Morningstar Analyst Rating of Silver, while its cheaper Admiral share class earns an upgrade to Gold.
Vanguard CA Long-Term Tax-Exempt Inv VCITX
NAV / 1-Day Return
11.22
/
0.45
%
Total Assets
4.7 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.170%
Expense Ratio
0.170%
Fee Level
Low
Longest Manager Tenure
1.63
years
Category
Muni California Long
Credit Quality / Interest Rate Sensitivity
Medium / ModerateMin. Initial Investment
3,000
Status
Open
TTM Yield
2.59%
Effective Duration
5.85
years
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will VCITX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VCITX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VCITX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VCITX’s parent organization’s priorities and whether they’re in line with investors’ interests.
One of the best longer-term California muni offerings.
