FCAL vs RSPYX Fund Comparison

A comparison between FCAL and RSPYX based on their expense ratio, growth, holdings and how well they match their benchmark performance.

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Minafi's Take on FCAL vs RSPYX

Here's an in depth look at the differences between First Trust California Municipal High Income ETF($FCAL) and Victory RS Partners Fund Class Y($RSPYX).

To start off, here's a look at the basics of each fund. Keep an eye on the FI Score. That's a custom score from 0 to 100 that we generate based on how good this fund is for the casual investor. Most investors only need a handful of total funds in their portfolio. The higher the score, the more likely this is one of those few. Score alone isn't enough! Keep reading on to see how different (or perhaps similar) these two funds are.

  • fcal
  • ETF
  • Bond
  • Municipal Bond

First Trust California Municipal High Income ETF

Expenses: 0.50% (Better than 1% of similar funds)

This is a bad choice for a Municipal Bond Bond fund. See why »

  • rspyx
  • Mutual Fund
  • US Stocks
  • Small Blend

Victory RS Partners Fund Class Y

Expenses: 1.12% (Better than 1% of similar funds)

This is a bad choice for a Small Blend US Stocks fund. See why »

$FCAL is classified as an ETF while $RSPYX is classified as a Mutual Fund. Even though one of these is a mutual fund and the other is an ETF, that doesn't matter too much for their holdings. Both ETFs and mutual funds are just containers to hold lots of investments inside of them.

The biggest differences between these two is where they may be offered. ETFs are more widely available from a larger number of investment apps and websites. Mutual funds, on the other hand, are generally offered by the platform they're issued by (Fidelity funds on Fidelity, Vanguard funds on Vanguard). Usually 401(k)'s will offer both ETFs and Mutual Funds. If you're investing outside of a 401(k), I'd recommend you verify the fees associated with ETF and mutual fund transactions. Some platforms charge an additional fee to purchase a mutual fund.

To learn more about the difference between these two, you can read about the difference between ETFs and Mutual Funds.

When evaluating a fund, the first things I look at are:

  • What it invests in
  • How much it charges in fees
  • How large the fund is

Let's look into these criteria one by one and see if either of these funds stands out.

Fund Holdings Comparison

Minafi's FI Score algorithm takes into account the category and market. The more niche a fund is, the lower the score. This doesn't mean it's a worse fund, but it does mean you should stop and make sure this a fund you need to diversify your portfolio.

FCALRSPYX
Market Score 1.5 /10 5.5 /10
Category Score 8.0 /10 5.0 /10
Total9.510.5

A score of 10 means this is a solid market and category that almost every investor will want to have investments in. The lower the score, the more specific the investment. These scores are based on when most investors would add these funds to their portfolio. A score of 10 means that this fund (or one like it) belongs in a three-fund portfolio. The lower the score, the farther down in your portfolio a fund would go.

Winner: $RSPYX

Fee Comparison

Fees are one of the biggest killers of portfolio growth. The difference between a 2% fee and a 0.04% fee over 30 years can result in your portfolio having half the total value!

If you're just getting started investing and learning how fees impact your portfolio, I'd encourage you to read through my free investment course (specifically '2.2 - All About Fees') where I go over all the different types of fees you can be charged and how to lower them.

For these two funds, FCAL has an expense ratio of 0.50% while RSPYX has an expense ratio of 1.12%.

Winner: $FCAL

Fund Size Comparison

One place these two funds differ is in their total assets under management. This is a good indication of how many other investors trust this fund. A large fund by itself doesn't mean it's a good fund, but it is one thing to consider when figuring out how to choose the right fund.

In the case of these two funds, FCAL is a small fund with 79.5 Million in assets under management. RSPYX, on the other hand, is a medium fund with 301 Million in assets under management.

Winner: $RSPYX, Victory RS Partners Fund Class Y

Which Should You Choose? FCAL or RSPYX?

Comparing these two funds isn't an apples to apples comparison. FCAL is a BondMunicipal Bond fund, while RSPYX is a US StocksSmall Blend fund.

If you're aiming to build a diversified, low-fee, tax-optimized portfolio you likely won't be choosing between these two funds since they're different enough.

Running both of these funds through Minafi's FI Score algorithm, gives FCAL a score of 48 and RSPYX a score of 39.

Winner: Neither, I'd research more funds if you're looking to invest for retirement.

$FCAL

First Trust California Municipal High Income ETF

48

Read More
Ratings
Rating TypeRating
Expense Ratio Score8/10
Expense Rating5/10
Market Score2/10
Category Score8/10
Overview
OverviewDetails
Fund TypeETF
ExchangeNASDAQ
Expense Ratio0.500%
Net Assets79.5 Million
Yield2.50%
Holdings
DescriptionInfo
MarketBond
CategoryMunicipal Bond
Sectors
  • Basic Materials 0.00%
  • Communication Services 0.00%
  • Consumer Cyclicals 0.00%
  • Consumer Defensive 0.00%
  • Energy 0.00%
  • Financial Services 0.00%
  • Healthcare 0.00%
  • Industrials 0.00%
  • Real Estate 0.00%
  • Technology 0.00%
  • Utilities 0.00%

$RSPYX

Victory RS Partners Fund Class Y

39

Read More
Ratings
Rating TypeRating
Expense Ratio Score5/10
Expense Rating0/10
Market Score6/10
Category Score5/10
Overview
OverviewDetails
Fund TypeMutual Fund
Inception DateJul-12-1995
ExchangeNMFQS
Expense Ratio1.120%
Net Assets301 Million
Yield1.35%
Holdings
DescriptionInfo
MarketUS Stocks
CategorySmall Blend
Sectors
  • Basic Materials 1.79%
  • Communication Services 2.04%
  • Consumer Cyclical 8.89%
  • Consumer Defensive 9.99%
  • Energy 1.17%
  • Financial Services 39.68%
  • Healthcare 2.01%
  • Industrials 7.03%
  • Real Estate 11.11%
  • Technology 11.96%
  • Utilities 4.35%
Regions
  • North America 97.48%
  • United Kingdom 2.52%

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