VAW vs CMF
Comparison between VANGUARD MATERIALS INDEX FUND ETF SHARES (VAW, ETF) and ISHARES CALIFORNIA MUNI BOND ETF (CMF, ETF).
5-Year PerformanceVAW has outperformed CMF, delivering a return of +7.0% compared to +0.5%
VAW vs CMF - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
VAW vs CMF - Historical Returns
Returns include dividend reinvestment.
VAW vs CMF - Annual Returns (2004 - 2026)
Returns include dividend reinvestment.
| Year | VAW | CMF |
|---|---|---|
| 2026 | +12.88% | +0.54% |
| 2025 | +13.45% | +3.22% |
| 2024 | +0.72% | +1.78% |
| 2023 | +13.72% | +5.24% |
| 2022 | -10.82% | -8.18% |
| 2021 | +28.37% | +0.77% |
| 2020 | +20.65% | +4.50% |
| 2019 | +22.95% | +7.01% |
| 2018 | -18.75% | +0.92% |
| 2017 | +22.77% | +4.69% |
| 2016 | +23.44% | -0.37% |
| 2015 | -10.48% | +3.00% |
| 2014 | +6.67% | +10.66% |
| 2013 | +21.70% | -3.23% |
| 2012 | +14.15% | +7.34% |
| 2011 | -10.25% | +15.75% |
| 2010 | +20.83% | -2.55% |
| 2009 | +45.94% | +8.14% |
| 2008 | -46.00% | +0.64% |
| 2007 | +26.82% | +1.37% |
| 2006 | +17.74% | N/A |
| 2005 | +4.50% | N/A |
| 2004 | +21.63% | N/A |
VAW vs CMF Drawdown Comparison
The maximum drawdown for VAW was -62.12%, occurring on Mar 9, 2009. Recovery took 1170 trading sessions.
The maximum drawdown for CMF was -16.45%, occurring on Jun 10, 2015. Recovery took 1295 trading sessions.
The current VAW drawdown is -2.47%. The current CMF drawdown is -1.26%.
| Rank | VAW | CMF |
|---|---|---|
| #1 | -62.12% May 16, 2008 - Jan 9, 2013 | -16.45% Dec 26, 2014 - Feb 20, 2020 |
| #2 | -41.14% Jan 26, 2018 - Sep 1, 2020 | -14.57% Mar 9, 2020 - Jul 16, 2020 |
| #3 | -27.23% Feb 24, 2015 - Nov 15, 2016 | -13.25% May 21, 2008 - Jan 7, 2009 |
| #4 | -25.49% Apr 20, 2022 - Feb 29, 2024 | -12.46% Aug 3, 2021 - Sep 18, 2025 |
| #5 | -23.20% Oct 18, 2024 - Dec 26, 2025 | -11.65% Sep 1, 2010 - Aug 2, 2011 |
| #6 | -16.60% May 9, 2006 - Nov 22, 2006 | -10.57% Nov 30, 2012 - Apr 10, 2014 |
| #7 | -16.36% Mar 4, 2005 - Jan 26, 2006 | -5.15% Jan 22, 2008 - May 21, 2008 |
| #8 | -15.95% Jul 19, 2007 - Oct 9, 2007 | -4.75% Apr 27, 2009 - Aug 17, 2009 |
| #9 | -15.12% Dec 10, 2007 - Apr 4, 2008 | -4.19% Sep 24, 2009 - Apr 27, 2010 |
| #10 | -13.42% Feb 27, 2026 - Mar 20, 2026 | -3.80% Apr 18, 2012 - Sep 28, 2012 |
| #11 | -12.15% Sep 5, 2014 - Feb 13, 2015 | -3.05% Jan 14, 2009 - Feb 9, 2009 |
| #12 | -12.02% Mar 1, 2004 - Sep 2, 2004 | -2.91% Feb 27, 2026 - Mar 24, 2026 |
| #13 | -11.29% Oct 31, 2007 - Dec 10, 2007 | -2.89% Sep 22, 2011 - Dec 8, 2011 |
| #14 | -10.81% Jan 4, 2022 - Mar 25, 2022 | -2.72% Feb 11, 2009 - Mar 24, 2009 |
| #15 | -10.71% May 17, 2021 - Nov 8, 2021 | -2.18% Feb 12, 2021 - Jun 11, 2021 |
Correlation
Correlation between VAW and CMF is 0.87 which considered as a strong positive correlation - the stocks tend to move together.
Dividend Comparison (2004 - 2026)
VAW vs CMF dividend yield comparison.
| Year | VAW | CMF |
|---|---|---|
| 2026 | 0.67% | 1.73% |
| 2025 | 1.55% | 2.94% |
| 2024 | 1.70% | 2.78% |
| 2023 | 1.72% | 2.29% |
| 2022 | 1.98% | 1.91% |
| 2021 | 1.44% | 1.58% |
| 2020 | 1.67% | 1.80% |
| 2019 | 1.94% | 2.03% |
| 2018 | 2.03% | 2.17% |
| 2017 | 1.63% | 2.09% |
| 2016 | 1.67% | 2.21% |
| 2015 | 2.30% | 2.55% |
| 2014 | 1.76% | 2.80% |
| 2013 | 1.84% | 3.12% |
| 2012 | 1.87% | 3.08% |
| 2011 | 2.16% | 3.66% |
| 2010 | 2.18% | 4.19% |
| 2009 | 1.36% | 3.77% |
| 2008 | 3.52% | 3.52% |
| 2007 | 1.45% | 0.82% |
| 2006 | 1.61% | 0.00% |
| 2005 | 1.61% | 0.00% |
| 2004 | 1.66% | 0.00% |
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