Morningstar

Vanguard California Long-Term Tax-Exempt Fund Admiral Shares VCLAX

Morningstar Medalist Rating
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  • NAV / 1-Day Return $10.97  /  +0.83 %
  • Fund Size $5.7B
  • Adjusted Expense Ratio 0.090%
  • Net Expense Ratio 0.090%
  • Fee Level: Distribution Low
  • Share Class Type Institutional
  • Morningstar Category Muni California Long
  • Fixed-Income Style Box (Funds) Medium/Extensive
  • Minimum Initial Investment $50,000
  • Investment Status Open
  • TTM Yield 3.90%
  • Average Effective Duration 8.53 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis VCLAX

Will VCLAX outperform in the 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 VCLAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the VCLAX 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 VCLAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

A topnotch California muni offering.

Analyst Ken Noguchi

Ken Noguchi

Analyst

Summary

Vanguard California Long-Term Tax-Exempt combines experienced leadership with a disciplined approach that stands out and delivers consistently strong results versus muni California long Morningstar Category peers.

by Ken Noguchi
Rated on Published on

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Portfolio Holdings VCLAX

More VCLAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 7.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV

1.19 69M
municipal

MIZUHO FLOATER / RESIDUAL TR VAR STS

0.79 46M
municipal

UNIVERSITY CALIF REVS

0.71 41M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV

0.70 41M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV

0.69 40M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV

0.68 39M
municipal

CALIFORNIA ST

0.66 38M
municipal

SOUTHERN CALIF PUB PWR AUTH PWR PROJ REV

0.64 37M
municipal

Ca St Pub Works Brd-C

0.62 36M
municipal

NORTHERN CALIF ENERGY AUTH COMMODITY SUPPLY REV

0.61 35M
municipal

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