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PCIYX Putnam CA Tax Exempt Income Y

  • Fund
  • PCIYX
  • Price as of: Dec 06, 2016
  • $7.94
  • + $0.02
  • + 0.25%
  • Category
  • Single State Municipal Bonds

PCIYX - Profile

Vitals

  • YTD Return -3.9%
  • 3 Yr Annualized Return 4.4%
  • 5 Yr Annualized Return 4.4%
  • Net Assets $1.31 B
  • Holdings in Top 10 11.9%

52 WEEK LOW AND HIGH

$7.94
$7.91
$8.52

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.53%

SALES FEES

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

BROKERAGE FEES

  • Turnover 16.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$0

IRA

N/A

Investment Themes

CATEGORY

Single State Municipal Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Long

Distributions

  • YTD Total Return -3.9%
  • 3 Yr Annualized Total Return 4.4%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.63%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Putnam California Tax Exempt Income Fund
  • Fund Family Name Putnam
  • Inception Date Jan 02, 2008
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Thalia Meehan

Fund Description

The fund invests mainly in bonds that pay interest that is exempt from federal income tax and California personal income tax (but that may be subject to federal alternative minimum tax (AMT)), are investment-grade in quality, and have intermediate- to long-term maturities (three years or longer). The adviser may consider, among other factors, credit, interest rate and prepayment risks, as well as general market conditions, when deciding whether to buy or sell investments.

PCIYX - Performance

Return Ranking - Trailing

Period PCIYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.9% -22.9% 2.7% 57.39% 5
1 Yr 0.2% -2.0% 11.9% 47.65% 3
3 Yr 4.4% * -0.7% 10.7% 18.11% 1
5 Yr 4.4% * 0.0% 9.5% 7.44% 1
10 Yr 4.1% * -0.1% 5.6% 5.54% 1

* Annualized


Return Ranking - Calendar

Period PCIYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.6% -7.9% 1.8% 38.54% 4
2014 6.7% -0.2% 15.6% 21.18% 2
2013 -7.0% -20.2% 0.0% 32.29% 3
2012 5.1% -0.9% 13.5% 14.27% 1
2011 6.6% -0.8% 10.2% 17.71% 2

Total Return Ranking - Trailing

Period PCIYX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.9% -22.9% 2.7% 58.77% 5
1 Yr 0.2% -4.6% 9.5% 22.60% 2
3 Yr 4.4% * -0.4% 10.7% 12.51% 1
5 Yr 4.4% * 0.0% 9.5% 5.68% 1
10 Yr 4.1% * -0.1% 5.6% 4.45% 1

* Annualized


Total Return Ranking - Calendar

Period PCIYX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -0.5% -7.9% 4.1% 42.54% 4
2014 6.7% -0.2% 17.8% 22.67% 2
2013 -7.0% -20.2% 0.7% 34.96% 3
2012 5.2% -0.6% 13.5% 16.77% 2
2011 6.6% -0.8% 15.9% 23.44% 2

NAV & Total Return History

PCIYX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

PCIYX Category Low Category High PCIYX % Rank Quintile
Net Assets 1.31 B 2.11 M 16.6 B 2.81% 1
Number of Holdings 404 15 3582 3.10% 1
Net Assets in Top 10 166 M 2.4 M 2.29 B 6.40% 1
Weighting of Top 10 11.9% 4.1% 76.7% 35.66% 5

Top 10 Holdings

  1. California St Go Bds 5.75% 1.72%
  2. California St Go Bds 6.5% 1.67%
  3. Bay Area Toll Auth 5% 1.24%
  4. California St For Previous Iss Go Bds 5% 1.22%
  5. Abag Fin Auth 6.25% 1.15%
  6. Turlock Calif Irr Dist 5% 1.03%
  7. Sacramento Calif Mun Util Dist 5.25% 1.03%
  8. California Mun Fin Auth 5.875% 0.98%
  9. Los Angeles Calif Dept Arpts A Snr Re 5% 0.95%
  10. California St Go Bds 5.25% 0.88%

Asset Allocation

Weighting Category Low Category High PCIYX % Rank Quintile
Bonds
100.30% 0.00% 101.50% 1.07% 1
Other
0.00% -0.58% 23.51% 6.01% 2
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 2
Stocks
0.00% 0.00% 0.73% 1.07% 2
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 2
Cash
-0.30% -1.55% 99.63% 22.58% 5

Bond Sector Breakdown

Weighting Category Low Category High PCIYX % Rank Quintile
Municipal
100.30% 0.00% 106.80% 1.26% 1
Securitized
0.00% 0.00% 0.00% 0.10% 2
Government
0.00% -10.86% 5.02% 5.52% 2
Derivative
0.00% -0.13% 0.00% 0.10% 2
Corporate
0.00% 0.00% 10.46% 1.45% 2
Cash & Equivalents
-0.30% -1.55% 99.63% 23.16% 5

Bond Geographic Breakdown

Weighting Category Low Category High PCIYX % Rank Quintile
US
100.30% 0.00% 101.50% 1.07% 1
Non US
0.00% 0.00% 0.00% 0.10% 2

PCIYX - Expenses

Operational Fees

PCIYX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.53% 0.12% 5.19% 15.99% 1
Management Fee 0.43% 0.00% 0.80% 2.13% 2
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.00% 0.33% N/A N/A

Sales Fees

PCIYX Fees (% of AUM) Category Low Category High PCIYX Rank Quintile
Front Load N/A 1.00% 5.75% N/A N/A
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

PCIYX Fees (% of AUM) Category Low Category High PCIYX Rank Quintile
Max Redemption Fee N/A 0.50% 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.

PCIYX Fees (% of AUM) Category Low Category High PCIYX Rank Quintile
Turnover 16.00% 0.00% 219.00% 5.49% 4

PCIYX - Distributions

Dividend Yield Analysis

PCIYX Category Low Category High PCIYX % Rank Quintile
Dividend Yield 0.3% 0.00% 0.99% 18.88% 3

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

PCIYX Category Low Category High PCIYX % Rank Quintile
Net Income Ratio 3.63% 0.00% 7.39% 8.53% 1

Capital Gain Distribution Analysis

PCIYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

PCIYX - Managers

Thalia Meehan

Lead Manager

Start Date

Oct 13, 2006

Tenure

10.14

Tenure Rank

7.3%

Ms. Meehan is a Portfolio Manager within Putnam's Tax Exempt Fixed Income Group. Ms. Meehan has served on the National Federation of Municipal Analysts' Board of Governors and is a member of Putnam's Diversity Advisory Council, the Boston Municipal Analyst Forum, and the Boston Security Analysts Society, as well as the Society of Municipal Analysts. In 2002, she received the Meritorious Service Award from the National Federation of Municipal Analysts. Ms. Meehan, who joined Putnam's Tax Exempt Bond Group in 1989, is a CFA charterholder.


Paul M. Drury

Manager

Start Date

Jul 31, 2002

Tenure

14.35

Tenure Rank

4.5%

Mr. Drury is a Portfolio Manager in the Tax Exempt Fixed Income group. In this role, he is responsible for managing several sectors within the municipal market. He is also a Portfolio Manager of Putnam’s taxexempt funds. Mr. Drury, a CFA charterholder, has been in the investment industry since he joined Putnam in 1989.


Tenure Analysis

Category Low

0.0

Category High

37.1

Category Average

9.21

Category Mode

4.8