Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) Fund Overview
Educational signal · not a buy or sell recommendation · How to read this
Beta 0.80: the stock has moved about 20% less than the S&P 500.
For informational purposes only. Not financial advice. Machine-generated analysis by Stock Expert AI — model gemini-2.0-flash, generated Mar 17, 2026. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief. Data sources: Financial Modeling Prep, Yahoo Finance, SEC EDGAR
Quick AnswerVanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) trades at $10.95. Sector: Financials.
Price as of · Last analyzed: Mar 17, 2026Analyst Coverage for VCADX: VCADX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage.
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) Financial Services Profile
Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) offers California residents tax-exempt income by investing in municipal bonds. With $18.99 billion in assets, it seeks a balance between income and price stability, distinguishing itself from broader bond ETFs through focused investment and management strategies within the asset management sector.
What Is the Investment Thesis for VCADX?
VCADX presents a focused investment opportunity for California residents seeking tax-exempt income. With $18.99 billion in assets, the fund's strategy of investing in California municipal bonds offers a potentially stable income stream, though it carries interest rate sensitivity, indicated by a beta of 0.80. The fund's value driver is its ability to provide tax-advantaged income, which is particularly attractive in high-tax states like California. Upcoming catalysts include potential infrastructure projects in California that could lead to the issuance of new municipal bonds, increasing the fund's investment options. However, potential risks include rising interest rates, which could decrease bond prices and reduce the fund's income. The absence of a dividend yield may deter some investors, but the tax-exempt nature of the income is a significant offsetting factor.
Based on FMP financials and quantitative analysis
VCADX Key Highlights
Market Cap of $18.99B indicates substantial assets under management, reflecting investor confidence in the fund's strategy.
- Beta of 0.80 suggests moderate volatility compared to the broader market, appealing to risk-averse investors.
- Focus on California municipal bonds provides tax-exempt income for California residents, a key benefit in a high-tax state.
- Dollar-weighted average maturity between 6 and 12 years aims to balance income generation with price stability.
- Stand-alone product status differentiates it from Vanguard's California Tax-Exempt Bond ETF (VTEC), offering distinct investment characteristics.
Who Are VCADX's Competitors?
VCADX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | MoonshotScore |
|---|---|---|---|---|
| CGGR Capital Group Growth ETF | $47.81 | +0.76% | $26.5B | — |
| DFUS Dimensional - US Equity Market ETF | $83.91 | +0.78% | $21.6B | — |
| IEI iShares 3-7 Year Treasury Bond ETF | $113.17 | -0.20% | $17.8B | — |
| IWV iShares Russell 3000 ETF | $436.16 | +0.83% | $19.7B | — |
| RDVY First Trust Rising Dividend Achievers ETF | $79.21 | +0.03% | $23.9B | — |
| BLK BlackRock, Inc. | $1059.63 | -0.44% | $164B | 49 5-pillar |
| BX Blackstone Inc. | $111.74 | -0.45% | $135B | 67 5-pillar |
| APOS Apollo Global Management, Inc. | $25.59 | -0.23% | $74.8B | 55 5-pillar |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are VCADX's Key Strengths?
Tax-exempt income for California residents.
- Focus on high-quality municipal bonds.
- Established brand reputation of Vanguard.
- Moderate volatility compared to the broader market (Beta: 0.80).
What Are VCADX's Weaknesses?
Limited to California municipal bonds.
- Sensitivity to interest rate changes.
- No dividend yield.
- May not be suitable for investors seeking high growth.
What Are the Key Risks for VCADX?
Rising interest rates decreasing bond prices.
- Changes in California tax laws reducing the attractiveness of tax-exempt investments.
- Economic downturn in California impacting the creditworthiness of municipal bonds.
- Market risk associated with fluctuations in bond prices.
What Are VCADX's Competitive Advantages?
- Tax-exempt status of income for California residents.
- Focus on California municipal bonds.
- Established brand reputation of Vanguard.
What Does VCADX Do?
The Vanguard California Intermediate-Term Tax-Exempt Fund Admiral Shares (VCADX) was created to provide California residents with a dedicated investment vehicle focused on generating income exempt from both federal and California state taxes. The fund achieves this by primarily investing in high-quality municipal bonds issued by California state and local governments, as well as regional government and public financing authorities. Launched by Vanguard, a well-established name in asset management, VCADX distinguishes itself by targeting a specific segment of the bond market and a particular investor base. The fund's strategy involves maintaining a dollar-weighted average maturity between 6 and 12 years, seeking to balance income generation with moderate price fluctuation. This intermediate-term focus differentiates it from both shorter-term and longer-term bond funds. While the fund has no limitations on individual security maturities, this average maturity target guides its investment decisions. VCADX operates as a stand-alone product, distinct from the Vanguard California Tax-Exempt Bond ETF (VTEC), with differences in scale, investment processes, and underlying holdings expected to result in varying investment returns. The fund is available to investors seeking tax-exempt income and who can tolerate moderate fluctuations in price and income. VCADX's investment approach is designed to cater specifically to the needs and tax considerations of California residents, making it a unique offering within Vanguard's broader suite of investment products.
What Products and Services Does VCADX Offer?
- Invests primarily in high-quality municipal bonds issued by California state and local governments.
- Seeks to provide a higher level of current income than shorter-term bonds.
- Aims to provide less share-price fluctuation than longer-term bonds.
- Targets California residents seeking tax-exempt income.
- Maintains a dollar-weighted average maturity between 6 and 12 years.
- Offers a stand-alone investment option distinct from the Vanguard California Tax-Exempt Bond ETF (VTEC).
How Does VCADX Make Money?
- Generates income by investing in municipal bonds.
- Provides tax-exempt income for California residents.
- Attracts investors seeking a balance between income and price stability.
What Industry Does VCADX Operate In?
VCADX operates within the asset management industry, specifically focusing on fixed-income investments. The municipal bond market, where VCADX invests, is influenced by factors such as interest rates, credit ratings, and government policies. The competitive landscape includes other municipal bond funds and ETFs, but VCADX distinguishes itself by its California-focused strategy. The asset management industry is experiencing growth driven by increasing demand for investment products and services, with a growing emphasis on tax-efficient strategies.
Who Are VCADX's Key Customers?
- California residents seeking tax-exempt income.
- Investors with a moderate risk tolerance.
- Individuals looking for a stable income stream.
Research confidence
Thin evidence — scoring coverage unknown. Treat this as a starting point, not a conclusion.
- ● Scoring coverage unknown
- ● Price is current
- ● No filing on record
- ● No analyst coverage
- ● This is a fund, not an operating company
VCADX Financials
Bull Case vs Bear Case
Bull Case
- Tax-exempt income for California residents.
- Focus on high-quality municipal bonds.
- Established brand reputation of Vanguard.
- Moderate volatility compared to the broader market (Beta: 0.80).
Bear Case
- Limited to California municipal bonds.
- Sensitivity to interest rate changes.
- No dividend yield.
- May not be suitable for investors seeking high growth.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
VCADX Latest News
No recent news available for VCADX.
VCADX Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations collected by Financial Modeling Prep for VCADX.
Price Targets
Wall Street price target analysis for VCADX.
VCADX MoonshotScore
MoonshotScore is Stock Expert AI's proprietary 0-100 research rating, not a buy or sell recommendation. No MoonshotScore is published for VCADX; grades run from A+ (80-100) to F (below 30).
VCADX Financials Stock FAQ
What are the main risks for VCADX?
The primary risks for VCADX include interest rate risk, credit risk, and concentration risk. Rising interest rates can negatively impact bond prices, potentially leading to capital losses. Credit risk refers to the possibility that bond issuers may default on their obligations.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
MoonshotScore is not published for this security.
Data provided for informational purposes only.
- Information is based on available fund data and may be subject to change.