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SCTAX Wells Fargo California Tax-Free A

  • Fund
  • SCTAX
  • Price as of: Dec 06, 2016
  • $11.56
  • + $0.05
  • + 0.43%
  • Category
  • Single State Municipal Bonds

SCTAX - Profile

Vitals

  • YTD Return -3.8%
  • 3 Yr Annualized Return 1.3%
  • 5 Yr Annualized Return 1.2%
  • Net Assets $1.16 B
  • Holdings in Top 10 18.2%

52 WEEK LOW AND HIGH

$11.56
$11.49
$12.50

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.82%

SALES FEES

  • Front Load 4.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 17.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

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

Distributions

  • YTD Total Return -3.8%
  • 3 Yr Annualized Total Return 1.3%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.96%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Wells Fargo California Tax-Free Fund
  • Fund Family Name Wells Fargo Funds
  • Inception Date Oct 06, 1988
  • Shares Outstanding N/A
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Robert J. Miller

SCTAX - Performance

Return Ranking - Trailing

Period SCTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.8% -22.9% 2.7% 55.34% 5
1 Yr -3.3% -2.0% 11.9% 93.35% 5
3 Yr 1.3% * -0.7% 10.7% 81.69% 5
5 Yr 1.2% * 0.0% 9.5% 82.44% 5
10 Yr 0.2% * -0.1% 5.6% 88.64% 5

* Annualized


Return Ranking - Calendar

Period SCTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.2% -7.9% 1.8% 13.41% 1
2014 8.0% -0.2% 15.6% 8.13% 1
2013 -4.7% -20.2% 0.0% 9.29% 1
2012 5.8% -0.9% 13.5% 10.70% 1
2011 6.4% -0.8% 10.2% 21.20% 2

Total Return Ranking - Trailing

Period SCTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -3.8% -22.9% 2.7% 57.00% 5
1 Yr -3.3% -4.6% 9.5% 72.41% 4
3 Yr 1.3% * -0.4% 10.7% 76.81% 4
5 Yr 1.2% * 0.0% 9.5% 81.10% 5
10 Yr 0.2% * -0.1% 5.6% 89.92% 5

* Annualized


Total Return Ranking - Calendar

Period SCTAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 0.2% -7.9% 4.1% 19.42% 2
2014 8.0% -0.2% 17.8% 9.63% 1
2013 -4.7% -20.2% 0.7% 11.96% 1
2012 5.8% -0.6% 13.5% 13.44% 1
2011 6.4% -0.8% 15.9% 26.31% 2

NAV & Total Return History

SCTAX - Holdings

Filings data as of: Sep 30, 2016

Concentration Analysis

SCTAX Category Low Category High SCTAX % Rank Quintile
Net Assets 1.16 B 2.11 M 16.6 B 3.78% 1
Number of Holdings 331 15 3582 3.97% 1
Net Assets in Top 10 214 M 2.4 M 2.29 B 4.26% 1
Weighting of Top 10 18.2% 4.1% 76.7% 25.48% 4

Top 10 Holdings

  1. California St Pub Wks Brd Leas Rev Re 5% 2.30%
  2. California St Go Bds 6% 2.24%
  3. Golden St Tob Securitization C Enh 0.01% 2.24%
  4. California St Ctfs 2.06%
  5. California St Ctfs 1.89%
  6. California St For Previous Iss Go Var 5% 1.57%
  7. Palomar Calif Cmnty College Di Go 0.09% 1.54%
  8. San Diego Calif Uni Sch Dist 5% 1.47%
  9. California St For Previous Iss Go Var 4% 1.43%
  10. Univ Calif Revs For Prev Ltd Proj 4% 1.41%

Asset Allocation

Weighting Category Low Category High SCTAX % Rank Quintile
Bonds
99.30% 0.00% 101.50% 6.20% 2
Other
0.40% -0.58% 23.51% 4.17% 1
Cash
0.30% -1.55% 99.63% 19.96% 4
Convertible Bonds
0.00% 0.00% 0.00% 0.10% 1
Preferred Stocks
0.00% 0.00% 0.00% 0.10% 1
Stocks
0.00% 0.00% 0.73% 1.07% 1

Bond Sector Breakdown

Weighting Category Low Category High SCTAX % Rank Quintile
Municipal
99.30% 0.00% 106.80% 6.01% 2
Cash & Equivalents
0.30% -1.55% 99.63% 20.45% 4
Securitized
0.00% 0.00% 0.00% 0.10% 1
Corporate
0.00% 0.00% 10.46% 1.45% 1
Derivative
0.00% -0.13% 0.00% 0.10% 1
Government
0.00% -10.86% 5.02% 5.52% 2

Bond Geographic Breakdown

Weighting Category Low Category High SCTAX % Rank Quintile
US
99.30% 0.00% 101.50% 6.20% 2
Non US
0.00% 0.00% 0.00% 0.10% 1

SCTAX - Expenses

Operational Fees

SCTAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.82% 0.12% 5.19% 13.18% 3
Management Fee 0.39% 0.00% 0.80% 2.42% 1
12b-1 Fee 0.00% 0.00% 1.00% 3.96% 1
Administrative Fee 0.16% 0.00% 0.33% 2.37% 5

Sales Fees

SCTAX Fees (% of AUM) Category Low Category High SCTAX Rank Quintile
Front Load 4.50% 1.00% 5.75% 1.08% 4
Deferred Load N/A 0.50% 5.50% N/A N/A

Trading Fees

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

SCTAX Fees (% of AUM) Category Low Category High SCTAX Rank Quintile
Turnover 17.00% 0.00% 219.00% 5.00% 4

SCTAX - Distributions

Dividend Yield Analysis

SCTAX Category Low Category High SCTAX % Rank Quintile
Dividend Yield 0.4% 0.00% 0.99% 11.95% 2

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SCTAX Category Low Category High SCTAX % Rank Quintile
Net Income Ratio 2.96% 0.00% 7.39% 14.92% 3

Capital Gain Distribution Analysis

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

SCTAX - Managers

Robert J. Miller

Manager

Start Date

Jul 06, 2011

Tenure

5.33

Tenure Rank

11.0%

Robert Miller is a senior portfolio manager for the Wells Capital Management Tax-Exempt Fixed Income team, where he manages both mutual funds and separate accounts. Prior to joining WellsCap in 2008, Robert worked for American Century Investments for 10 years where he was part of team managing the firm’s municipal bond portfolios. Robert had direct responsibility for the firm’s national intermediate- and long-term investment grade strategies. In addition, he managed several other state-specific funds for the firm. Robert also served as a member of its analytical team. Earlier, Robert spent eight years in New York as a municipal bond analyst with Moody’s Investors Service where he served as an analyst in the States and High Profile Ratings Group as well as the Airport Credit Group, the Southeast Regional Ratings Group, and the Mid-Atlantic Regional Ratings Group. He also founded a small venture capital firm and served as a consultant with Black and Veatch and KPMG Peat Marwick, where he specialized in conducting financial feasibility studies in support of large infrastructure projects. Robert earned a bachelor’s degree in business administration with a concentration in finance from San Jose State University and a master’s degree in business administration from the Leonard N. Stern School of Business at New York University.


Adrian Van Poppel

Manager

Start Date

Nov 01, 2009

Tenure

7.0

Tenure Rank

9.5%

Adrian Van Poppel is a senior portfolio manager for the Wells Capital Management Tax-Exempt Fixed Income team, where he manages the California and Colorado tax-exempt funds, as well as separate accounts in Arizona and California. He joined Wells Capital Management in 1997, and was responsible for trading cash positions of repurchase agreements and sweep for all mutual funds. He began his investment industry career in 1996. He earned a bachelor’s degree in business administration and economics as well as a master’s degree in financial analysis and investment management from Saint Mary’s College in Moraga, California. He is a member of the California Society of Municipal Analysts and the Municipal Bond Club of San Francisco.


Terry J. Goode

Manager

Start Date

Jul 06, 2011

Tenure

5.33

Tenure Rank

11.0%

Terry Goode is a senior portfolio manager for the Wells Capital Management Tax-Exempt Fixed Income team, where he manages California, Arizona, Colorado, and Oregon funds and separate accounts. Previously, Terry served as the leader of the Wells Capital Management Tax-Exempt Research team, where he managed a group of professionals who provide credit research for the Tax-Exempt Fixed Income team. He also specialized in directly covering a number of municipal sectors. Prior to joining WellsCap in 2002, he performed similar research duties and provided bond ratings as a director at Standard & Poor’s Credit Market Services, focusing on health care, education and nonprofit sectors. He began his investment industry career in 1995 when he held a similar position with Wells Fargo Bank’s health care division, analyzing the credit quality for a variety of nonprofit and corporate health care organizations. He earned a bachelor’s degree in economics from the University of California, Los Angeles, and a master’s degree in business administration with an emphasis in finance and investment strategy from the Haas School of Business at the University of California, Berkeley. Terry is a member of the California Society of Municipal Analysts, the National Federation of Municipal Analysts and the Healthcare Financial Management Association. His industry comments can often be found in The Bond Buyer.


Tenure Analysis

Category Low

0.0

Category High

37.1

Category Average

9.21

Category Mode

4.8