Continue to site >
Trending ETFs

Name

As of 03/26/2024

Price

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

$16.68

$2.68 B

2.83%

$0.47

0.38%

Vitals

YTD Return

0.0%

1 yr return

4.0%

3 Yr Avg Return

-0.5%

5 Yr Avg Return

1.4%

Net Assets

$2.68 B

Holdings in Top 10

8.6%

52 WEEK LOW AND HIGH

$16.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.38%

SALES FEES

Front Load N/A

Deferred Load N/A

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 03/26/2024

Price

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

$16.68

$2.68 B

2.83%

$0.47

0.38%

TEFEX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -0.5%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.27%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Tax-Exempt Fund of California
  • Fund Family Name
    Capital Group Fund Group
  • Inception Date
    Aug 22, 2008
  • Shares Outstanding
    N/A
  • Share Class
    F2
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Karl 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.

Read More

TEFEX - Performance

Return Ranking - Trailing

Period TEFEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -2.7% 12.2% 33.53%
1 Yr 4.0% -3.0% 38.5% 24.24%
3 Yr -0.5%* -10.3% 3.3% 36.02%
5 Yr 1.4%* -5.7% 1102.9% 19.39%
10 Yr 2.6%* -0.2% 248.3% 16.76%

* Annualized

Return Ranking - Calendar

Period TEFEX Return Category Return Low Category Return High Rank in Category (%)
2023 3.4% -1.4% 41.0% 24.68%
2022 -11.4% -39.7% 0.3% 49.54%
2021 -0.3% -5.6% 6.9% 42.53%
2020 1.7% -2.6% 310.0% 51.72%
2019 4.0% 0.0% 26.0% 40.36%

Total Return Ranking - Trailing

Period TEFEX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -2.7% 12.2% 33.53%
1 Yr 4.0% -3.0% 38.5% 24.24%
3 Yr -0.5%* -10.3% 3.3% 36.02%
5 Yr 1.4%* -5.7% 1102.9% 19.39%
10 Yr 2.6%* -0.2% 248.3% 16.76%

* Annualized

Total Return Ranking - Calendar

Period TEFEX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -1.3% 41.0% 29.34%
2022 -8.9% -39.7% 1.1% 45.66%
2021 2.5% -4.8% 23761504.0% 26.39%
2020 4.5% -1.5% 17057.9% 27.32%
2019 7.5% 0.2% 3514.6% 21.50%

NAV & Total Return History


TEFEX - Holdings

Concentration Analysis

TEFEX Category Low Category High TEFEX % Rank
Net Assets 2.68 B 3.48 M 68.1 B 12.44%
Number of Holdings 1401 2 12848 5.41%
Net Assets in Top 10 219 M -317 M 3.4 B 16.56%
Weighting of Top 10 8.63% 1.9% 100.4% 87.49%

Top 10 Holdings

  1. CITY OF PASADENA CA FRN 02-01-35 1.24%
  2. CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 4.0% 02-01-52 1.08%
  3. LOS ANGELES DEPARTMENT OF WATER POWER WATER SYSTEM REVENUE FRN 07-01-49 0.90%
  4. CALIFORNIA HOUSING FINANCE AGENCY 4.0% 03-20-33 0.87%
  5. UNIVERSITY OF CALIFORNIA FRN 05-15-48 0.83%
  6. UNIVERSITY OF CALIFORNIA FRN 05-15-48 0.79%
  7. TREASURY BILL 0.0% 11-16-23 0.79%
  8. CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (MPT) 5.0% 07-01-53 0.73%
  9. CALIFORNIA HOUSING FINANCE AGENCY 3.5% 11-20-35 0.73%
  10. UNIVERSITY OF CALIFORNIA FRN 05-15-48 0.68%

Asset Allocation

Weighting Return Low Return High TEFEX % Rank
Bonds
101.70% 0.00% 150.86% 5.34%
Other
0.05% -8.54% 33.35% 8.89%
Stocks
0.00% 0.00% 99.80% 46.36%
Preferred Stocks
0.00% 0.00% 0.52% 39.63%
Convertible Bonds
0.00% 0.00% 0.93% 39.59%
Cash
0.00% -50.86% 50.09% 91.88%

Bond Sector Breakdown

Weighting Return Low Return High TEFEX % Rank
Municipal
98.76% 44.39% 100.00% 43.34%
Derivative
0.05% -8.54% 23.38% 5.28%
Cash & Equivalents
0.00% 0.00% 48.02% 73.71%
Securitized
0.00% 0.00% 5.93% 40.43%
Corporate
0.00% 0.00% 9.41% 49.87%
Government
0.00% 0.00% 52.02% 43.98%

Bond Geographic Breakdown

Weighting Return Low Return High TEFEX % Rank
US
101.70% 0.00% 142.23% 4.64%
Non US
0.00% 0.00% 23.89% 46.33%

TEFEX - Expenses

Operational Fees

TEFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.38% 0.01% 20.65% 91.61%
Management Fee 0.25% 0.00% 1.20% 9.66%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.05% 0.01% 0.44% 14.20%

Sales Fees

TEFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

TEFEX 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.

TEFEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 17.00% 0.00% 283.00% 49.26%

TEFEX - Distributions

Dividend Yield Analysis

TEFEX Category Low Category High TEFEX % Rank
Dividend Yield 2.83% 0.00% 14.36% 58.27%

Dividend Distribution Analysis

TEFEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

TEFEX Category Low Category High TEFEX % Rank
Net Income Ratio 2.27% -0.53% 5.33% 31.31%

Capital Gain Distribution Analysis

TEFEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

TEFEX - 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