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PRXCX T. Rowe Price California Tax-Free Bond

  • Fund
  • PRXCX
  • Price as of: Nov 17, 2017
  • $11.54
  • - $0.01
  • - 0.09%
  • Category
  • Single State Municipal Bonds

PRXCX - Profile

Vitals

  • YTD Return 2.2%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $632 M
  • Holdings in Top 10 11.2%

52 WEEK LOW AND HIGH

$11.54
$11.13
$11.64

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.50%

SALES FEES

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

BROKERAGE FEES

  • Turnover 5.60%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$1,000

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.17%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name T. Rowe Price California Tax Free Bond Fund
  • Fund Family Name T. Rowe Price
  • Inception Date Sep 15, 1986
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Konstantine B. Mallas

Fund Description

The fund will invest 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.

PRXCX - Performance

Return Ranking - Trailing

Period PRXCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.2% -22.9% 6.0% 11.61% 1
1 Yr 1.5% -8.5% 11.9% 18.85% 1
3 Yr 3.2% * -1.6% 8.2% 14.94% 1
5 Yr 3.5% * -1.4% 7.1% 7.37% 1
10 Yr 4.6% * 0.1% 5.8% 5.05% 1

* Annualized


Return Ranking - Calendar

Period PRXCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.1% -4.9% 0.6% 49.00% 4
2015 0.3% -7.9% 7.9% 8.33% 1
2014 7.4% -7.6% 15.6% 13.06% 1
2013 -6.4% -20.2% 6.4% 27.29% 2
2012 5.0% -0.9% 13.5% 15.46% 2

Total Return Ranking - Trailing

Period PRXCX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.2% -22.9% 6.0% 11.61% 1
1 Yr 1.5% -12.9% 8.6% 14.06% 1
3 Yr 3.2% * -2.2% 8.2% 10.06% 1
5 Yr 3.5% * -1.8% 7.1% 5.83% 1
10 Yr 4.6% * 0.1% 5.8% 4.11% 1

* Annualized


Total Return Ranking - Calendar

Period PRXCX Return Category Return Low Category Return High Rank in Category (%) Quintile
2016 -3.1% -4.9% 0.7% 50.50% 4
2015 0.3% -7.9% 7.6% 13.07% 1
2014 7.4% -7.6% 17.8% 14.88% 2
2013 -6.4% -20.2% 6.4% 30.08% 3
2012 5.0% -0.6% 13.5% 18.07% 2

NAV & Total Return History

PRXCX - Holdings

Filings data as of: Sep 30, 2017

Concentration Analysis

PRXCX Category Low Category High PRXCX % Rank Quintile
Net Assets 632 M 2.11 M 16 B 8.72% 1
Number of Holdings 274 18 3653 5.72% 1
Net Assets in Top 10 69.7 M -6.62 M 2.6 B 14.35% 2
Weighting of Top 10 11.2% 3.8% 73.5% 41.42% 5

Top 10 Holdings

  1. California Statewide Cmntys De Rev Bd 5% 1.82%
  2. California Health Facs Fing Au Ref Re 5% 1.33%
  3. California Statewide Cmntys De Rev Bd 5% 1.26%
  4. California Statewide Cmntys De Rev Bd 5% 1.13%
  5. California Health Facs Fing Au Rev Bd 5% 1.05%
  6. California Health Facs Fing Au Rev 5.25% 0.97%
  7. California Health Facs Fing Au Rev Bd 5% 0.93%
  8. California St Go Bds 5% 0.93%
  9. San Francisco Calif City & Cnt Rev Bd 5% 0.92%
  10. Los Angeles Calif Dept Arpts A Re 5.125% 0.91%

Asset Allocation

Weighting Category Low Category High PRXCX % Rank Quintile
Bonds
100.00% 0.00% 103.74% 2.42% 1
Stocks
0.00% 0.00% 0.75% 0.68% 1
Preferred Stocks
0.00% 0.00% 2.18% 0.39% 1
Other
0.00% -1.95% 23.51% 5.92% 2
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 1
Cash
0.00% -3.74% 99.63% 22.50% 4

Bond Sector Breakdown

Weighting Category Low Category High PRXCX % Rank Quintile
Municipal
100.00% 0.00% 115.24% 3.10% 1
Derivative
0.00% -5.89% 0.00% 0.10% 1
Cash & Equivalents
0.00% -3.74% 99.63% 21.63% 4
Securitized
0.00% 0.00% 0.00% 0.10% 1
Corporate
0.00% 0.00% 5.14% 2.81% 2
Government
0.00% -20.29% 6.50% 3.98% 2

Bond Geographic Breakdown

Weighting Category Low Category High PRXCX % Rank Quintile
US
99.91% 0.00% 109.11% 2.91% 1
Non US
0.09% -10.46% 27.70% 13.77% 3

PRXCX - Expenses

Operational Fees

PRXCX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.50% 0.09% 5.19% 15.71% 1
Management Fee 0.39% 0.00% 1.30% 2.71% 1
12b-1 Fee 0.00% 0.00% 1.00% 3.83% 1
Administrative Fee 0.15% 0.00% 0.33% 2.37% 4

Sales Fees

PRXCX Fees (% of AUM) Category Low Category High PRXCX 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

PRXCX Fees (% of AUM) Category Low Category High PRXCX 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.

PRXCX Fees (% of AUM) Category Low Category High PRXCX Rank Quintile
Turnover 5.60% 0.00% 219.00% 12.30% 1

PRXCX - Distributions

Dividend Yield Analysis

PRXCX Category Low Category High PRXCX % Rank Quintile
Dividend Yield 0.4% 0.00% 0.99% 10.04% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

PRXCX Category Low Category High PRXCX % Rank Quintile
Net Income Ratio 3.17% 0.00% 6.13% 10.38% 2

Capital Gain Distribution Analysis

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

PRXCX - Managers

Konstantine B. Mallas

Lead Manager

Start Date

Mar 31, 2003

Tenure

14.6

Tenure Rank

4.2%

Dino Mallas is a portfolio manager in the Fixed Income Division. Mr. Mallas is president and chairman of its Investment Advisory Committee. He is also executive vice president and chairman of the Investment Advisory Committee. Mr. Mallas is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc. He joined the firm in 1986 as a broker in the Discount Brokerage Department and, in 1991, transferred to the Municipal Department. Mr. Mallas began his fixed income responsibilities as a fixed income specialist and later transitioned into trading intermediate- and long-term state and national portfolios. He assumed portfolio management responsibilities in 1999. Mr. Mallas earned a B.S. from American University and an M.B.A. from Loyola University Maryland.


Tenure Analysis

Category Low

0.1

Category High

38.0

Category Average

9.72

Category Mode

0.7