TXUE vs JCAL

Comparison between THORNBURG INTERNATIONAL EQUITY ETF (TXUE, ETF) and JPMorgan California Tax Free Bond ETF (JCAL, ETF).

TXUE vs JCAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TXUE(ETF)	JCAL(ETF)
Net Assets	$507M	$510M
Expense Ratio	0.65%	0.34%
Max Drawdown	12.97%	1.39%
Sharpe Ratio	1.10	-3.88
5Y Beta	0.66	0.05

Net Assets

TXUE

$507M

Winner

JCAL

$510M

Expense Ratio

TXUE

0.65%

Winner

JCAL

0.34%

Max Drawdown

TXUE

12.97%

Winner

JCAL

1.39%

Sharpe Ratio

Winner

TXUE

1.10

JCAL

-3.88

5Y Beta

TXUE

0.66

Winner

JCAL

0.05

TXUE vs JCAL - Historical Returns

Returns include dividend reinvestment.

Period	TXUE	JCAL
1 month	+0.77%	-0.64%
3 months	+3.57%	N/A
6 months	+8.29%	N/A
1 year	+19.35%	N/A
Max(CAGR)	+25.07%	-4.55%

Winner

TXUE

+0.77%

JCAL

-0.64%

TXUE

+3.57%

JCAL

N/A

TXUE

+8.29%

JCAL

N/A

TXUE

+19.35%

JCAL

N/A

Max(CAGR)

Winner

TXUE

+25.07%

JCAL

-4.55%

TXUE vs JCAL - Annual Returns (2025 - 2026)

Returns include dividend reinvestment.

Year	TXUE	JCAL
2026	+10.30%	-0.46%
2025	+25.67%	N/A

TXUE vs JCAL Drawdown Comparison

The maximum drawdown for TXUE was -12.97%, occurring on Apr 7, 2025. Recovery took 31 trading sessions.

The maximum drawdown for JCAL was -1.12%, occurring on Jul 21, 2026. This drawdown has not yet recovered.

The current TXUE drawdown is -0.64%. The current JCAL drawdown is -1.12%.

Rank	TXUE	JCAL
#1	-12.97% Mar 19, 2025 - May 2, 2025	-1.12% Jun 29, 2026 - Jul 21, 2026
#2	-11.14% Feb 26, 2026 - Jul 6, 2026	-0.12% Jun 18, 2026 - Jun 24, 2026
#3	-4.45% Nov 12, 2025 - Dec 4, 2025	-0.06% Jun 16, 2026 - Jun 18, 2026
#4	-3.78% Jul 23, 2025 - Aug 13, 2025	N/A
#5	-3.12% Aug 22, 2025 - Oct 3, 2025	N/A
#6	-2.87% Jun 12, 2025 - Jun 27, 2025	N/A
#7	-2.83% Oct 6, 2025 - Nov 11, 2025	N/A
#8	-2.39% Jan 30, 2025 - Feb 13, 2025	N/A
#9	-2.37% May 7, 2025 - May 19, 2025	N/A
#10	-2.25% Jul 10, 2025 - Jul 23, 2025	N/A
#11	-2.22% Mar 7, 2025 - Mar 14, 2025	N/A
#12	-1.55% Jul 6, 2026 - Jul 20, 2026	N/A
#13	-1.47% May 27, 2025 - Jun 10, 2025	N/A
#14	-1.36% Jan 16, 2026 - Jan 23, 2026	N/A
#15	-1.28% Jul 2, 2025 - Jul 10, 2025	N/A

Correlation

Correlation between TXUE and JCAL is -1.00 which considered as a very strong negative correlation - the stocks move almost identically in opposite directions.

-1.00

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