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Trending ETFs

Name

As of 06/17/2024

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

$10.86

$741 M

3.50%

$0.38

0.57%

Vitals

YTD Return

1.1%

1 yr return

5.6%

3 Yr Avg Return

-0.4%

5 Yr Avg Return

1.3%

Net Assets

$741 M

Holdings in Top 10

10.2%

52 WEEK LOW AND HIGH

$10.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 8.30%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

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

$10.86

$741 M

3.50%

$0.38

0.57%

PRXCX - Profile

Distributions

  • YTD Total Return 1.1%
  • 3 Yr Annualized Total Return -0.4%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.48%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    T. Rowe Price California Tax-Free Bond Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Sep 15, 1986
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Austin Applegate

Fund Description

The fund invests so that, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) are invested in bonds that pay interest exempt from federal and California state income taxes, and at least 80% of the fund’s income is expected to be exempt from federal and California state income taxes. While the fund may buy securities of any maturity, the fund generally seeks longer-term securities. Most investments are in investment-grade securities, which are securities rated in one of the four highest credit rating categories by at least one major credit rating agency or, if unrated, deemed by the adviser to be of comparable quality. However, the fund may invest up to 10% of its total assets in below investment-grade securities, known as “junk” bonds, including those with the lowest credit rating. In addition, up to 20% of the fund’s income could be derived from securities subject to the alternative minimum tax.

In addition to investing in state and local general obligation bonds, the fund may invest a significant portion of its assets in sectors with special risks, such as health care, transportation, and utilities, as well as private activity bonds (including industrial revenue bonds), which are municipal bonds issued by a government agency on behalf of a private sector company and, in most cases, are not backed by the credit of the issuing municipality. It is possible that 25% or more of the fund’s assets could be invested in municipal securities that would tend to respond similarly to particular economic or political developments. For example, the fund may invest in securities of issuers whose revenues are generated from similar types of projects or operate in similar industries. The fund may at times invest more than 25% of its net assets overall in industrial revenue bonds, but investments in industrial revenue bonds related to the same industry may not exceed 25% of the fund’s net assets. Bonds that are refunded with escrowed U.S. government securities are not subject to the 25% limitation. Refunded bonds may have originally been issued as general obligation or revenue bonds, but become “refunded” when they are secured by an escrow fund, usually consisting entirely of direct U.S. government obligations, U.S. government agency obligations, and/or cash.

Due to seasonal variations in the supply of suitable California municipal securities, the fund may invest in other municipal securities whose interest is exempt from federal but not California income taxes. While efforts will be made to minimize such investments, they could comprise up to 10% of the fund’s annual income.

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PRXCX - Performance

Return Ranking - Trailing

Period PRXCX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -2.9% 17.0% 29.24%
1 Yr 5.6% -1.4% 29.0% 8.39%
3 Yr -0.4%* -11.1% 2.9% 20.97%
5 Yr 1.3%* -6.3% 1102.2% 16.94%
10 Yr 2.5%* -0.6% 248.4% 14.63%

* Annualized

Return Ranking - Calendar

Period PRXCX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -1.4% 41.0% 15.24%
2022 -11.8% -39.7% 0.3% 53.90%
2021 -0.2% -5.6% 6.9% 34.97%
2020 1.4% -2.6% 310.0% 62.34%
2019 4.2% 0.0% 26.0% 35.27%

Total Return Ranking - Trailing

Period PRXCX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.1% -2.9% 17.0% 29.24%
1 Yr 5.6% -1.4% 29.0% 8.39%
3 Yr -0.4%* -11.1% 2.9% 20.97%
5 Yr 1.3%* -6.3% 1102.2% 16.94%
10 Yr 2.5%* -0.6% 248.4% 14.63%

* Annualized

Total Return Ranking - Calendar

Period PRXCX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -1.3% 41.0% 15.83%
2022 -9.3% -39.7% 1.1% 50.26%
2021 2.7% -4.8% 23761504.0% 21.01%
2020 3.2% -1.5% 17057.9% 69.95%
2019 7.3% 0.2% 3514.6% 26.54%

NAV & Total Return History


PRXCX - Holdings

Concentration Analysis

PRXCX Category Low Category High PRXCX % Rank
Net Assets 741 M 3.22 M 71.9 B 35.24%
Number of Holdings 395 2 13067 30.99%
Net Assets in Top 10 75.6 M -317 M 3.56 B 51.92%
Weighting of Top 10 10.19% 2.0% 100.2% 81.86%

Top 10 Holdings

  1. UNIVERSITY OF CALIFORNIA 1.38%
  2. CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY 1.19%
  3. REGENTS OF THE UNIVERSITY OF CALIFORNIA MEDICAL CENTER POOLED REVENUE 1.12%
  4. CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 1.06%
  5. PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE 1.03%
  6. CHINO VALLEY UNIFIED SCHOOL DISTRICT 0.94%
  7. LOS ANGELES COUNTY FACILITIES INC 0.93%
  8. UNIVERSITY OF CALIFORNIA 0.88%
  9. SAN DIEGO PUBLIC FACILITIES FINANCING AUTHORITY 0.84%
  10. CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY 0.81%

Asset Allocation

Weighting Return Low Return High PRXCX % Rank
Bonds
99.74% 0.00% 150.86% 20.26%
Cash
0.26% -50.86% 46.80% 80.64%
Stocks
0.00% 0.00% 99.81% 87.66%
Preferred Stocks
0.00% 0.00% 0.56% 86.42%
Other
0.00% -3.18% 33.35% 82.59%
Convertible Bonds
0.00% 0.00% 0.93% 86.37%

Bond Sector Breakdown

Weighting Return Low Return High PRXCX % Rank
Municipal
99.94% 44.39% 100.00% 15.20%
Derivative
0.00% -3.18% 19.67% 82.00%
Cash & Equivalents
0.00% 0.00% 46.24% 94.28%
Securitized
0.00% 0.00% 5.93% 86.43%
Corporate
0.00% 0.00% 9.41% 86.95%
Government
0.00% 0.00% 52.02% 86.95%

Bond Geographic Breakdown

Weighting Return Low Return High PRXCX % Rank
US
99.74% 0.00% 142.23% 18.65%
Non US
0.00% 0.00% 23.89% 88.63%

PRXCX - Expenses

Operational Fees

PRXCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.57% 0.01% 20.65% 72.95%
Management Fee 0.39% 0.00% 1.20% 37.34%
12b-1 Fee N/A 0.00% 1.00% 10.81%
Administrative Fee 0.15% 0.01% 0.44% 82.52%

Sales Fees

PRXCX 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

PRXCX 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.

PRXCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 8.30% 0.00% 283.00% 15.19%

PRXCX - Distributions

Dividend Yield Analysis

PRXCX Category Low Category High PRXCX % Rank
Dividend Yield 3.50% 0.00% 14.51% 29.22%

Dividend Distribution Analysis

PRXCX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

PRXCX Category Low Category High PRXCX % Rank
Net Income Ratio 2.48% -0.53% 5.33% 19.59%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PRXCX - Fund Manager Analysis

Managers

Austin Applegate


Start Date

Tenure

Tenure Rank

Jan 01, 2020

2.41

2.4%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58