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BCHIX American Century CA Hi-Yld Muni Instl

  • Fund
  • BCHIX
  • Price as of: Dec 06, 2016
  • $10.10
  • + $0.03
  • + 0.30%
  • Category
  • High Yield Municipal Bonds

BCHIX - Profile

Vitals

  • YTD Return -3.9%
  • 3 Yr Annualized Return 6.0%
  • 5 Yr Annualized Return 5.6%
  • Net Assets $1.15 B
  • Holdings in Top 10 11.2%

52 WEEK LOW AND HIGH

$10.10
$10.05
$11.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.30%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 19.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$5,000,000

IRA

N/A

Investment Themes

CATEGORY

High Yield Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Long

Distributions

  • YTD Total Return -3.9%
  • 3 Yr Annualized Total Return 6.0%
  • 5 Yr Annualized Total Return 5.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.67%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name American Century California High Yield Municipal Fund
  • Fund Family Name American Century Investments
  • Inception Date Mar 01, 2010
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Alan Kruss

BCHIX - Performance

Return Ranking - Trailing

Period BCHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.9% -5.0% 3.6% 39.31% 3
1 Yr 7.3% -4.5% 12.2% 11.64% 1
3 Yr 6.0% * 0.2% 9.5% 40.71% 3
5 Yr 5.6% * -0.4% 8.4% 43.09% 3
10 Yr 5.2% * -2.0% 5.2% 2.88% 1

* Annualized


Return Ranking - Calendar

Period BCHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 1.2% -2.0% 2.9% 6.21% 1
2014 9.4% 0.0% 13.1% 30.43% 3
2013 -7.0% -13.7% 0.0% 6.56% 1
2012 6.5% 0.0% 14.5% 50.43% 4
2011 5.6% -5.1% 8.6% 18.97% 2

Total Return Ranking - Trailing

Period BCHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.9% -5.0% 3.6% 44.83% 4
1 Yr 0.8% -5.4% 9.2% 30.14% 2
3 Yr 6.0% * 0.2% 9.5% 33.57% 2
5 Yr 5.6% * -0.4% 8.4% 37.40% 2
10 Yr 4.5% * -2.0% 5.2% 8.65% 1

* Annualized


Total Return Ranking - Calendar

Period BCHIX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 1.2% -2.0% 6.8% 14.48% 1
2014 9.4% 0.0% 20.0% 34.06% 3
2013 -7.0% -13.7% 0.0% 9.84% 1
2012 6.5% 0.0% 18.2% 53.85% 5
2011 5.6% -5.1% 19.4% 23.28% 2

NAV & Total Return History

BCHIX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

BCHIX Category Low Category High BCHIX % Rank Quintile
Net Assets 1.15 B 152 K 12.2 B 12.93% 3
Number of Holdings 469 58 2489 12.93% 3
Net Assets in Top 10 130 M 45.4 K 1.58 B 14.97% 3
Weighting of Top 10 11.2% 7.3% 27.9% 21.77% 4

Top 10 Holdings

  1. Foothill / Eastern Transn Corr Ref Re 6% 2.85%
  2. Golden St Tob Securitization C To 5.125% 1.33%
  3. Golden St Tob Securitization C Tob 5.75% 1.29%
  4. San Buenaventura Calif Rev Rev Bds 7.5% 0.99%
  5. California St For Previous Iss Go Bds 4% 0.89%
  6. San Joaquin Hills Calif Transn Rev Ref B 0.84%
  7. California Statewide Cmntys De Rev 5.25% 0.82%
  8. California St For Previous Iss Go Var 5% 0.75%
  9. Guam Govt Go Bds 7% 0.74%
  10. California St Pub Wks Brd Leas Lease 5% 0.72%

Asset Allocation

Weighting Category Low Category High BCHIX % Rank Quintile
Bonds
99.41% 84.14% 102.61% 8.16% 2
Cash
0.59% -2.61% 15.84% 19.73% 4
Other
0.00% -0.32% 3.26% 11.56% 5
Convertible Bonds
0.00% 0.00% 0.00% 0.68% 5
Preferred Stocks
0.00% 0.00% 0.00% 0.68% 5
Stocks
0.00% 0.00% 2.97% 4.08% 5

Bond Sector Breakdown

Weighting Category Low Category High BCHIX % Rank Quintile
Municipal
97.62% 84.14% 100.99% 14.29% 3
Government
1.79% -3.40% 3.42% 8.16% 2
Cash & Equivalents
0.59% -1.37% 15.84% 19.73% 4
Securitized
0.00% 0.00% 0.66% 2.04% 5
Corporate
0.00% 0.00% 1.22% 10.88% 5
Derivative
0.00% -0.04% 0.00% 0.68% 5

Bond Geographic Breakdown

Weighting Category Low Category High BCHIX % Rank Quintile
US
99.41% 84.14% 102.61% 8.16% 2
Non US
0.00% -0.14% 0.00% 0.68% 5

BCHIX - Expenses

Operational Fees

BCHIX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.30% 0.27% 44.43% 53.06% 1
Management Fee 0.29% 0.00% 0.75% 12.93% 1
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.35% N/A N/A

Sales Fees

BCHIX Fees (% of AUM) Category Low Category High BCHIX Rank Quintile
Front Load N/A 1.00% 4.75% N/A N/A
Deferred Load N/A 0.60% 5.50% N/A N/A

Trading Fees

BCHIX Fees (% of AUM) Category Low Category High BCHIX Rank Quintile
Max Redemption Fee N/A 0.75% 2.00% N/A N/A

Turnover 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.

BCHIX Fees (% of AUM) Category Low Category High BCHIX Rank Quintile
Turnover 19.00% 4.00% 120.00% 12.24% 3

BCHIX - Distributions

Dividend Yield Analysis

BCHIX Category Low Category High BCHIX % Rank Quintile
Dividend Yield 0.4% 0.16% 0.96% 41.96% 3

Dividend Distribution Analysis

BCHIX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

BCHIX Category Low Category High BCHIX % Rank Quintile
Net Income Ratio 3.67% 1.34% 6.68% 44.22% 3

Capital Gain Distribution Analysis

BCHIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Monthly Annually

BCHIX - Managers

Alan Kruss

Manager

Start Date

Jan 01, 2012

Tenure

4.92

Tenure Rank

18.8%

Mr. Kruss, Portfolio Manager, has been a member of the team that manages Government Agency Money Market since November 2001. He joined American Century in 1997 as an Investment Administrator. In 2000, he was named Fixed Income Trader and in 2001, he was named Portfolio Manager. He has a bachelor's degree in finance from San Francisco State University.


Joseph Gotelli

Manager

Start Date

Jan 01, 2012

Tenure

4.92

Tenure Rank

18.8%

Gotelli is a Portfolio Manager and Vice President. He joined American Century Investments in 2008. He has shared primary responsibility for the management of the fund, and has served on teams managing fixed-income investments since joining the advisor. Prior to joining American Century Investments, he was an assistant portfolio manager at Franklin Templeton Investments for six years. He has a bachelor’s degree in business economics from the University of California, Santa Barbara and an MBA from Santa Clara University.


Steven M. Permut

Manager

Start Date

Dec 31, 1988

Tenure

27.93

Tenure Rank

0.3%

Steven M. Permut, Senior Vice President and Senior Portfolio Manager, joined American Century Investments in 1987. He became a portfolio manager in 1990. He has served on teams managing fixed-income investments since joining American Century. He has a bachelor’s degree in business and geography from State University of New York – Oneonta and an MBA in finance from Golden Gate University –San Francisco.


Tenure Analysis

Category Low

0.1

Category High

27.9

Category Average

7.66

Category Mode

1.9