# Portfolio overlap — CAYAX vs VCITX Comparing **California High-Yield Municipal Fund** (2026-02-28) and **VANGUARD CALIFORNIA LONG-TERM TAX-EXEMPT FUND** (2026-02-28). - Shared positions: 103 - California High-Yield Municipal Fund covered by VANGUARD CALIFORNIA LONG-TERM TAX-EXEMPT FUND: 0.09719141608186920885233229875 - VANGUARD CALIFORNIA LONG-TERM TAX-EXEMPT FUND covered by California High-Yield Municipal Fund: 0.09719141608186920885233229877 ## California High-Yield Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | California Community Choice Financing Authority, Series F | 0.013613 | ✓ | | California (State of) Infrastructure & Economic Development Bank (Clean Water Revolving Fund) (Green Bonds), Series 2023, RB | 0.009677 | | | California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs. | 0.009304 | ✓ | | LOMA LINDA UNIVERSITY MEDICAL CENTER OBLIGATED GROUP 5.25% 12-01-56 | 0.009070 | | | PALOMAR HLTH-REF | 0.009044 | | | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A | 0.008531 | | | New Hampshire Business Finance Authority, Series 4, Class A | 0.008193 | ✓ | | SILICON VLY CA TOBACCO SECURIT SILGEN 06/36 ZEROCPNOID 0 | 0.007658 | | | CSCDA Community Improvement Authority, Series 2020 A | 0.006896 | | | CSCDA Community Improvement Authority, Series A-2 | 0.006656 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB | 0.006630 | ✓ | | Paradise Unified School District 4.88% 05/01/2054 | 0.006598 | | | STHRN CA PUB PWR AUTH | 0.006417 | | | CALIFORNIA HSG FIN AGY LTD OBLIG MF HSG REVENUE | 0.006398 | ✓ | | CA STWD 5% 12/1/2046 | 0.006089 | | | CA PUB FIN AUTH-B1 | 0.006072 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.005959 | ✓ | | California Community Choice Financing Authority, Series F | 0.005853 | ✓ | | COMMONSPIRIT HEALTH OBLIGATED GROUP 4.0% 04-01-49 | 0.005360 | | | CA ST MFA REV 5% 11/1/46 | 0.005093 | | | American Century California Municipal Bond ETF | 0.005032 | | | Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016 | 0.005025 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.005011 | ✓ | | CALIFORNIA ST STWD CMNTYS DEV REGD B/E 5.00000000 | 0.004742 | | | Foothill-Eastern Transportation Corridor Agency, Series 2021 A, Ref. RB | 0.004657 | | | HASTINGS CAMPUS HSG FIN AUTH CA CAMPUS HSG REVENUE | 0.004536 | | | CALIFORNIA ST STWD CMNTYS DEV AUTH SPL TAX REVENUE | 0.004533 | | | Peninsula Corridor Joint Powers Board Measure RR Sales Tax, Series 2022A | 0.004491 | | | LOS ANGELES DEPT-C | 0.004447 | ✓ | | City of San Francisco, Series 2023AB | 0.004417 | | | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, 1818 Platinum Triangle-Anaheim, Social Bond Series 2021A-2 | 0.004393 | ✓ | | Alameda Corridor Transportation Authority, Series C | 0.004385 | | | CA ST UNIV TRUSTEES-A | 0.004152 | | | CA MUNI FIN AUTH | 0.004129 | | | HASTINGS CAMPUS HSG FIN AUTH C REGD B/E 5.00000000 | 0.004063 | ✓ | | Orange County Community Facilities District 5.00% 08/15/2041 | 0.004043 | | | ROSEVILLE CA SPL TAX | 0.004020 | | | CSCDA COMMUNITY IMPROVEMENT AUTHORITY ESCONDIDO PORTFOLIO 4.0% 12-01-59 | 0.004000 | | | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE | 0.003996 | | | TRANSBAY JT PWRS-A | 0.003978 | ✓ | | BAY AREA TOLL AUTHORITY FRN 04-01-59 | 0.003924 | ✓ | | CSCDA Community Improvement Authority, Series 2021 A-2 | 0.003857 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.003736 | ✓ | | STHRN CA PUB PWR AUTH | 0.003727 | ✓ | | CA PUB FIN AUTH-B2 | 0.003700 | | | RESTRUCTURED-SER A-2 | 0.003572 | ✓ | | California Infrastructure & Economic Development Bank 5.00% 11/01/2031 | 0.003535 | | | City of Rialto CA 5.25% 09/01/2060 | 0.003513 | | | CALIFORNIA ST MUNI FIN AUTH REVENUE | 0.003477 | | | HUMANGOOD CALIFORNIA OBLIGATED GROUP 4.0% 10-01-49 | 0.003435 | ✓ | ## VANGUARD CALIFORNIA LONG-TERM TAX-EXEMPT FUND — top positions | Security | Weight | Shared | |----------|--------|--------| | BAY AREA TOLL-H | 0.011018 | | | CALIFORNIA COMMUNITY VAR | 0.010338 | | | STHRN CALIFORNIA ST | 0.009644 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 D, RB | 0.008405 | | | JPM-PUTTERS-MIZ9119 | 0.007517 | | | CALIFORNIA COMMUNITY VAR | 0.007237 | ✓ | | California (State of) Enterprise Development Authority (Riverside County-Mead Valley Wellness Village), Series 2024, RB | 0.006995 | | | CA PUB FIN AUTH-B1 | 0.006311 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2022 A-1, RB | 0.006008 | | | ELSINORE VLY MUNI-A | 0.005818 | | | TNDR OPT-FLTRS-XG0100 | 0.005682 | | | STATE OF CALIFORNIA 5.0% 09-01-41 | 0.005465 | | | UNIV OF CALIFORNIA CA REVENUES | 0.005387 | ✓ | | UNIV OF CALIFORNIA-Q | 0.005271 | | | NRTHRN CA ENRGY | 0.005117 | | | San Diego Community College District, Series A-1 | 0.005087 | | | CALIFORNIA COMMUNITY VAR | 0.004982 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.004955 | | | CALIFORNIA COMMUNITY VAR | 0.004793 | | | CALIFORNIA ST HLTH FACS FING A CASMED 08/48 FIXED 4 | 0.004694 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.00000000 | 0.004600 | | | UNIV OF CALIFORNIA REVENUES | 0.004599 | | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.00000000 | 0.004394 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.004346 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB | 0.004341 | ✓ | | State of California 5.00% 09/01/2042 | 0.004326 | | | California Community Choice Financing Authority, Series B-1 | 0.004280 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023, RB | 0.004226 | ✓ | | STATE OF CALIFORNIA | 0.004183 | | | UNIV OF CALIFORNIA CA REVENUES UNVHGR 05/52 FIXED 5 | 0.004004 | | | LOS ANGELES DEPT WTR | 0.003879 | | | California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs. | 0.003794 | ✓ | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.003776 | | | California Community Choice Financing Authority, Series C | 0.003768 | ✓ | | Bay Area Toll Authority, Series 2023 A, VRD Ref. RB | 0.003717 | ✓ | | HAYWARD UNIFIED SD-B | 0.003712 | | | HAYWARD | 0.003565 | | | California Community Choice Financing Authority, Series F | 0.003527 | ✓ | | UNIV OF CA REGENTS -P | 0.003506 | | | California Community Choice Financing Authority, Series 2025G | 0.003479 | | | CA PUB FIN AUTH-A-1 | 0.003474 | | | CA ST UNIV-A-REF | 0.003436 | | | Los Angeles County Public Works Financing Authority, Series 2024H | 0.003394 | | | San Francisco Community College District, Series B | 0.003381 | | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.003330 | | | California (State of) Housing Finance Agency, Series 2019 A-2, RB | 0.003288 | | | E CO AWP JT PWRS-A-1 | 0.003267 | | | Bay Area Toll Authority, Series 2018A | 0.003258 | | | LOS ANGELS WTR & PWR- | 0.003257 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.003167 | | ## Sources - N-PORT (fund A) — accession `0001193125-26-189892` (as of 2026-02-28) - N-PORT (fund B) — accession `0000783401-26-000074` (as of 2026-02-28) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _