VCAIX Performance — Vanguard California Intermediate-Term Tax-Exempt Fund, Investor Shares
Data updated: 2026-07-29
VCAIX returned +1.04% year to date and +6.48% over one year to May 2026. Annualised returns are +4.05% over 3 years and +1.34% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $113, against $111 for the category, and to $106 over one year, against $106. Volatility over the past three years was 4.58% a year. In the 12 months to May 2026 the fund took in a net $2.7B, and assets reached $19.22B.
VCAIX Growth of $100
What $100 invested in Vanguard California Intermediate-Term Tax-Exempt Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | VCAIX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $106 |
| 3 years (Jun 2023 – May 2026) | $113 | $111 |
| 5 years (Jun 2021 – May 2026) | $107 | $104 |
| Since data start (Sep 2019 – May 2026) | $112 | $109 |
VCAIX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.04% |
| 1 year | +6.48% |
| 3 years (annualised) | +4.05% |
| 5 years (annualised) | +1.34% |
VCAIX Annual Returns
Calendar-year total returns of Vanguard California Intermediate-Term Tax-Exempt Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.04% |
| 2025 | +5.02% |
| 2024 | +1.73% |
| 2023 | +5.72% |
| 2022 | −6.69% |
| 2021 | +0.74% |
| 2020 | +4.70% |
| 2019 (Sep–Dec) | −0.12% |
VCAIX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.9% | +1.2% | −2.4% | +0.9% | +0.4% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +1.1% | −1.3% | −0.5% | +0.2% | +0.8% | +0.1% | +1.0% | +1.9% | +1.1% | +0.3% | +0.2% |
| 2024 | 0.0% | +0.1% | 0.0% | −1.0% | −0.4% | +1.4% | +0.8% | +0.8% | +1.0% | −1.2% | +1.3% | −1.0% |
| 2023 | +2.5% | −2.0% | +1.9% | −0.2% | −0.9% | +0.8% | +0.3% | −0.9% | −2.1% | −0.9% | +5.0% | +2.3% |
| 2022 | −2.5% | −0.3% | −2.8% | −2.6% | +1.6% | −1.5% | +2.6% | −1.8% | −3.1% | −0.4% | +4.0% | +0.3% |
| 2021 | +0.4% | −1.5% | +0.5% | +0.7% | +0.2% | +0.1% | +0.7% | −0.2% | −0.7% | −0.2% | +0.7% | 0.0% |
| 2020 | +1.6% | +1.0% | −3.0% | −1.1% | +3.2% | +0.4% | +1.4% | −0.3% | +0.1% | −0.2% | +1.2% | +0.4% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | +0.2% | +0.2% | +0.3% |
VCAIX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.58%
- 3-year Sharpe ratio: -0.10 (vs 4.5% risk-free rate)
- Best month: +4.99% (Nov 2023)
- Worst month: −2.38% (Mar 2026)
VCAIX Fund Flows
Monthly money in and out of Vanguard California Intermediate-Term Tax-Exempt Fund, from SEC Form N-PORT.
- 12-month net flow: $2.7B
- 12-month gross sales (incl. reinvestments): $5.6B
- Sales ÷ redemptions: 1.95×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $574.3M | $252.4M | $321.9M |
| Apr 2026 | $438.9M | $273.1M | $165.8M |
| Mar 2026 | $400.5M | $251.6M | $148.9M |
| Feb 2026 | $402.8M | $161.5M | $241.3M |
| Jan 2026 | $545.7M | $276.5M | $269.3M |
| Dec 2025 | $504.4M | $285.5M | $219.0M |
| Nov 2025 | $371.8M | $178.3M | $193.6M |
| Oct 2025 | $478.6M | $255.1M | $223.5M |
| Sep 2025 | $491.6M | $197.0M | $294.6M |
| Aug 2025 | $421.5M | $250.4M | $171.1M |
| Jul 2025 | $504.1M | $243.9M | $260.2M |
| Jun 2025 | $465.1M | $253.0M | $212.1M |
VCAIX Assets Under Management
Net assets of Vanguard California Intermediate-Term Tax-Exempt Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $19.22B |
| 2026-02-28 | $18.95B |
| 2025-11-30 | $17.92B |
| 2025-08-31 | $16.80B |
| 2025-05-31 | $15.97B |
| 2025-02-28 | $16.31B |
| 2024-11-30 | $16.25B |
| 2024-08-31 | $15.81B |
| 2024-05-31 | $15.24B |
| 2024-02-29 | $15.41B |
| 2023-11-30 | $14.75B |
| 2023-08-31 | $15.05B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.