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Tax-Exempt Fund of California
mutual fund
TECCX
Payout Change
Pending
Price as of:
$16.65
+0.0
+0.0%
primary theme
Municipal Bond
share class
TECCX (Mutual Fund)
Tax-Exempt Fund of California
Payout Change
Pending
Price as of:
$16.65
+0.0
+0.0%
primary theme
Municipal Bond
share class
TECCX (Mutual Fund)
Tax-Exempt Fund of California
Payout Change
Pending
Price as of:
$16.65
+0.0
+0.0%
primary theme
Municipal Bond
share class
Name
As of 12/23/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
1.3%
1 yr return
1.4%
3 Yr Avg Return
-1.4%
5 Yr Avg Return
0.0%
Net Assets
$2.92 B
Holdings in Top 10
8.8%
52 WEEK LOW AND HIGH
$16.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.32%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 17.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/23/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
TECCX - Profile
Distributions
- YTD Total Return 1.3%
- 3 Yr Annualized Total Return -1.4%
- 5 Yr Annualized Total Return 0.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.35%
- Dividend Yield 2.1%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameTax-Exempt Fund of California
-
Fund Family NameCapital Group Fund Group
-
Inception DateAug 22, 2008
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKarl Zeile
Fund Description
The fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of California and its agencies and municipalities. Consistent with the fund’s objectives, the fund may also invest in municipal securities that are issued by jurisdictions outside California. Municipal bonds are debt obligations generally issued to obtain funds for various public purposes, including the construction of public facilities. The fund may also invest in bonds exempt from federal and state taxation that are used to fund private projects.
Under normal circumstances, the fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from both regular federal and California income taxes and that do not subject you to federal alternative minimum tax. The fund may also invest up to 20% of its assets in “private activity bonds” whose interest is generally subject to the federal alternative minimum tax. The fund is intended primarily for taxable residents of California.
The fund will invest primarily in debt securities rated BBB- or better or Baa3 or better by Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser, or unrated but determined by the fund’s investment adviser to be of equivalent quality. The fund may also invest in debt securities rated BB+ or below and Ba1 or below by Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser, or unrated but determined by the fund’s investment adviser to be of equivalent quality. Such securities are sometimes referred to as “junk bonds.”
The investment adviser uses a system of multiple portfolio managers in managing the fund’s assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.
The fund relies on the professional judgment of its investment adviser to make decisions about the fund’s portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively priced securities that, in its opinion, represent good, long-term investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.
TECCX - Performance
Return Ranking - Trailing
| Period | TECCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.3% | -7.3% | 37.5% | 65.14% |
| 1 Yr | 1.4% | -7.4% | 37.6% | 65.21% |
| 3 Yr | -1.4%* | -11.8% | 5.1% | 74.32% |
| 5 Yr | 0.0%* | -7.4% | 1103.2% | 80.52% |
| 10 Yr | 1.3%* | -1.1% | 248.8% | 63.71% |
* Annualized
Return Ranking - Calendar
| Period | TECCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -1.4% | 41.0% | 25.25% |
| 2022 | -11.4% | -39.7% | 0.3% | 48.19% |
| 2021 | -0.3% | -5.6% | 6.9% | 43.57% |
| 2020 | 1.7% | -2.6% | 310.0% | 51.89% |
| 2019 | 4.0% | 0.0% | 26.0% | 41.32% |
Total Return Ranking - Trailing
| Period | TECCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.3% | -7.3% | 37.5% | 65.14% |
| 1 Yr | 1.4% | -7.4% | 37.6% | 65.21% |
| 3 Yr | -1.4%* | -11.8% | 5.1% | 74.32% |
| 5 Yr | 0.0%* | -7.4% | 1103.2% | 80.52% |
| 10 Yr | 1.3%* | -1.1% | 248.8% | 63.71% |
* Annualized
Total Return Ranking - Calendar
| Period | TECCX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.4% | -1.3% | 41.0% | 56.63% |
| 2022 | -9.8% | -39.7% | 1.1% | 56.11% |
| 2021 | 1.4% | -4.8% | 23761504.0% | 53.33% |
| 2020 | 3.8% | -1.5% | 17057.9% | 50.91% |
| 2019 | 6.5% | 0.2% | 3514.6% | 50.40% |
NAV & Total Return History
TECCX - Holdings
Concentration Analysis
| TECCX | Category Low | Category High | TECCX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.92 B | 3.22 M | 71.9 B | 11.83% |
| Number of Holdings | 1514 | 4 | 13418 | 4.90% |
| Net Assets in Top 10 | 270 M | -317 M | 3.09 B | 14.17% |
| Weighting of Top 10 | 8.83% | 1.8% | 100.3% | 84.74% |
Top 10 Holdings
- UNITED STATES TREASURY BILL 0.0% 09-10-24 1.14%
- CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 05-01-54 1.08%
- CITY OF LOS ANGELES CA 5.0% 06-26-25 1.00%
- CITY OF PASADENA CA FRN 02-01-35 0.98%
- CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 4.0% 02-01-52 0.98%
- CALIFORNIA STATEWIDE COM 3.65% 09-10-24 0.89%
- BAY AREA TOLL AUTHORITY FRN 04-01-59 0.74%
- CHEVRON USA INC FRN 11-01-35 0.71%
- CALIFORNIA HOUSING FINANCE AGENCY 3.5% 11-20-35 0.66%
- CHEVRON USA INC FRN 11-01-35 0.65%
Asset Allocation
| Weighting | Return Low | Return High | TECCX % Rank | |
|---|---|---|---|---|
| Bonds | 99.72% | 0.00% | 150.86% | 27.58% |
| Cash | 0.30% | -50.86% | 44.62% | 74.75% |
| Stocks | 0.00% | 0.00% | 99.77% | 50.87% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 42.51% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 42.21% |
| Other | -0.02% | -3.69% | 53.54% | 94.69% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | TECCX % Rank | |
|---|---|---|---|---|
| Municipal | 98.76% | 44.39% | 100.00% | 43.22% |
| Cash & Equivalents | 0.00% | 0.00% | 44.41% | 75.96% |
| Securitized | 0.00% | 0.00% | 5.93% | 47.07% |
| Corporate | 0.00% | 0.00% | 9.41% | 55.16% |
| Government | 0.00% | 0.00% | 52.02% | 50.03% |
| Derivative | -0.02% | -3.69% | 53.54% | 94.76% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | TECCX % Rank | |
|---|---|---|---|---|
| US | 99.72% | 0.00% | 142.23% | 25.92% |
| Non US | 0.00% | 0.00% | 23.89% | 45.74% |
TECCX - Expenses
Operational Fees
| TECCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.32% | 0.01% | 8.02% | 21.64% |
| Management Fee | 0.25% | 0.00% | 1.20% | 9.93% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 88.55% |
| Administrative Fee | 0.05% | 0.01% | 0.44% | 13.87% |
Sales Fees
| TECCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | 1.00% | 0.25% | 5.00% | 43.01% |
Trading Fees
| TECCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| TECCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 17.00% | 0.00% | 283.00% | 48.46% |
TECCX - Distributions
Dividend Yield Analysis
| TECCX | Category Low | Category High | TECCX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.07% | 0.00% | 14.51% | 88.99% |
Dividend Distribution Analysis
| TECCX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| TECCX | Category Low | Category High | TECCX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.35% | -0.53% | 5.33% | 77.63% |
Capital Gain Distribution Analysis
| TECCX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.029 | OrdinaryDividend |
| Oct 31, 2024 | $0.031 | OrdinaryDividend |
| Sep 30, 2024 | $0.029 | OrdinaryDividend |
| Aug 30, 2024 | $0.029 | OrdinaryDividend |
| Jul 31, 2024 | $0.029 | OrdinaryDividend |
| Apr 30, 2024 | $0.029 | OrdinaryDividend |
| Mar 28, 2024 | $0.030 | OrdinaryDividend |
| Feb 29, 2024 | $0.027 | OrdinaryDividend |
| Jan 31, 2024 | $0.029 | OrdinaryDividend |
| Dec 29, 2023 | $0.002 | OrdinaryDividend |
| Nov 30, 2023 | $0.028 | OrdinaryDividend |
| Oct 31, 2023 | $0.029 | OrdinaryDividend |
| Sep 29, 2023 | $0.027 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.027 | OrdinaryDividend |
| Jun 30, 2023 | $0.027 | OrdinaryDividend |
| May 31, 2023 | $0.026 | OrdinaryDividend |
| Apr 28, 2023 | $0.024 | OrdinaryDividend |
| Mar 31, 2023 | $0.024 | OrdinaryDividend |
| Feb 28, 2023 | $0.023 | OrdinaryDividend |
| Jan 31, 2023 | $0.025 | OrdinaryDividend |
| Dec 30, 2022 | $0.027 | OrdinaryDividend |
| Nov 30, 2022 | $0.025 | OrdinaryDividend |
| Oct 31, 2022 | $0.025 | OrdinaryDividend |
| Sep 30, 2022 | $0.023 | OrdinaryDividend |
| Aug 31, 2022 | $0.023 | OrdinaryDividend |
| Jul 29, 2022 | $0.023 | OrdinaryDividend |
| Jun 30, 2022 | $0.021 | OrdinaryDividend |
| May 31, 2022 | $0.022 | OrdinaryDividend |
| Apr 29, 2022 | $0.020 | OrdinaryDividend |
| Mar 31, 2022 | $0.020 | OrdinaryDividend |
| Feb 28, 2022 | $0.018 | OrdinaryDividend |
| Jan 31, 2022 | $0.019 | OrdinaryDividend |
| Dec 31, 2021 | $0.019 | OrdinaryDividend |
| Nov 30, 2021 | $0.018 | OrdinaryDividend |
| Oct 29, 2021 | $0.018 | OrdinaryDividend |
| Sep 30, 2021 | $0.018 | OrdinaryDividend |
| Aug 31, 2021 | $0.019 | OrdinaryDividend |
| Jul 30, 2021 | $0.019 | OrdinaryDividend |
| Jun 30, 2021 | $0.019 | OrdinaryDividend |
| May 28, 2021 | $0.020 | OrdinaryDividend |
| Apr 30, 2021 | $0.019 | OrdinaryDividend |
| Mar 31, 2021 | $0.020 | OrdinaryDividend |
| Feb 26, 2021 | $0.019 | OrdinaryDividend |
| Jan 29, 2021 | $0.021 | OrdinaryDividend |
| Dec 31, 2020 | $0.094 | OrdinaryDividend |
| Nov 30, 2020 | $0.022 | OrdinaryDividend |
| Oct 30, 2020 | $0.022 | OrdinaryDividend |
| Sep 30, 2020 | $0.021 | OrdinaryDividend |
| Jul 31, 2020 | $0.023 | OrdinaryDividend |
| Jun 30, 2020 | $0.023 | OrdinaryDividend |
| May 29, 2020 | $0.024 | OrdinaryDividend |
| Apr 30, 2020 | $0.024 | OrdinaryDividend |
| Mar 31, 2020 | $0.026 | OrdinaryDividend |
| Dec 31, 2019 | $0.017 | CapitalGainShortTerm |
| Dec 31, 2019 | $0.074 | CapitalGainLongTerm |
| Nov 29, 2019 | $0.027 | OrdinaryDividend |
| Oct 31, 2019 | $0.025 | OrdinaryDividend |
| Sep 30, 2019 | $0.026 | OrdinaryDividend |
| Aug 30, 2019 | $0.027 | OrdinaryDividend |
| Jul 31, 2019 | $0.028 | OrdinaryDividend |
| Jun 28, 2019 | $0.028 | OrdinaryDividend |
| Dec 01, 2005 | $0.005 | CapitalGainShortTerm |
| Dec 01, 2005 | $0.005 | CapitalGainLongTerm |
| Dec 01, 2004 | $0.016 | CapitalGainLongTerm |
| Dec 01, 2001 | $0.060 | CapitalGainShortTerm |
TECCX - Fund Manager Analysis
Managers
Karl Zeile
Start Date
Tenure
Tenure Rank
Jan 01, 2003
19.42
19.4%
Zeile has been employed by Capital and its affiliates since 1999.
Mark Marinella
Start Date
Tenure
Tenure Rank
Oct 01, 2018
3.67
3.7%
Mark Marinella is a fixed income portfolio manager at Capital Group. He has 31 years of investment industry experience and has been with Capital Group for four years. Earlier in his career at Capital, he was head of the Investment Resources Group as well as a senior manager in fixed income. Prior to joining Capital, Mark was a global chief investment officer for fixed income and currencies at State Street Global Advisors. He holds an MBA from Boston College and a bachelor’s degree in economics from the University of Massachusetts. He also holds the Chartered Financial Analyst® designation. Mark is based in Los Angeles.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
