MORGAN STANLEY CALIF TAX FREE DAILY INCOME TRUST
Name
As of 09/14/2023Price
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
Vitals
YTD Return
1.7%
1 yr return
2.1%
3 Yr Avg Return
0.9%
5 Yr Avg Return
1.0%
Net Assets
$2.04 B
Holdings in Top 10
48.4%
52 WEEK LOW AND HIGH
$1.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
N/A
Fund Classification
Fund Type
Money Market Fund
Name
As of 09/14/2023Price
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
DFSXX - Profile
Distributions
- YTD Total Return 1.7%
- 3 Yr Annualized Total Return 0.9%
- 5 Yr Annualized Total Return 1.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.01%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMORGAN STANLEY CALIF TAX FREE DAILY INCOME TRUST
-
Fund Family NameMorgan Stanley Funds
-
Inception DateJul 05, 2016
-
Shares OutstandingN/A
-
Share ClassS
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerManagement Team
Fund Description
The Fund will normally invest at least 80% of its net assets in high quality, short-term securities that are municipal obligations that pay interest exempt from federal and California income taxes. The Adviser seeks to maintain the Fund’s share price at $1.00. The share price remaining stable at $1.00 means that the Fund would preserve the principal value of your investment.
The Adviser generally invests substantially all of the Fund’s assets in California municipal obligations. The interest on these investments is exempt from California state and federal income tax. The Fund may invest up to 20% of its net assets in securities that pay interest income subject to the federal “alternative minimum tax,” and some taxpayers may have to pay tax on a Fund distribution of this income.
Municipal obligations are securities issued by state and local governments and their agencies. These securities typically are “general obligation” or “revenue” bonds, notes or commercial paper. Included within the revenue bonds category are participations in lease obligations, which may take the form of a lease or an installment purchase contract issued by public authorities.
The Fund’s investments may include tender option bonds and custodial receipts. Tender option bonds are municipal obligations held pursuant to a custodial arrangement and issued pursuant to an agreement with a third-party such as a bank or financial institution to provide the holder with the option of tendering the bond at periodic intervals. The holder of the tender option bond effectively holds a demand obligation that bears interest at prevailing short-term rates. Custodial receipts represent interests in future
interest and/or principal payments on U.S. government securities or municipal obligations. Additionally, the Fund may invest in investment companies, including money market funds, and may invest some or all of its short-term cash investments in any money market fund advised or managed by the Adviser or its affiliates.
The Fund may purchase debt obligations that have fixed, variable or floating rates of interest. The interest rates payable on variable rate or floating rate obligations may fluctuate based upon changes in market rates.
The Fund has a fundamental policy of normally investing at least 80% of its assets in securities the interest on which is exempt from federal and California income tax. A fundamental policy may not be changed without shareholder approval.
The Fund may take temporary “defensive” positions that may be inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market conditions, including when suitable municipal obligations are unavailable. The Fund may hold any portion of the Fund’s assets in cash or may invest any amount of its assets in taxable money market securities, non-California tax-exempt securities or in tax-exempt securities subject to the alternative minimum tax for individual shareholders when the Adviser believes it is advisable to do so. When the Fund makes such investments, a higher portion of the Fund’s distributions will likely be subject to California personal income tax, federal income tax and/or the federal alternative minimum tax. The Fund will only purchase municipal obligations of other states that satisfy the same standards as set forth for the California tax-exempt securities.
The Fund operates as a “retail money market fund,” as such term is defined or interpreted under Rule 2a-7 under the Investment Company Act of 1940, as amended (the “1940 Act”). A “retail money market fund” is a money market fund that has policies and procedures reasonably designed to limit all beneficial owners of the fund to natural persons. As a “retail money market fund,” the Fund may value its securities using the amortized cost method as permitted by Rule 2a-7 to seek to maintain a stable net asset value per share (“NAV”) of $1.00. Like other retail money market funds, the Fund is subject to the possible imposition of liquidity fees and/or redemption gates.
DFSXX - Performance
Return Ranking - Trailing
Period | DFSXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | 0.0% | 0.0% | 85.71% |
1 Yr | 2.1% | 0.0% | 0.0% | 85.71% |
3 Yr | 0.9%* | 0.0% | 0.0% | 62.77% |
5 Yr | 1.0%* | 0.0% | 0.0% | 33.67% |
10 Yr | N/A* | 0.0% | 0.0% | N/A |
* Annualized
Return Ranking - Calendar
Period | DFSXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.0% | 0.0% | 0.0% | 56.60% |
2022 | 0.0% | 0.0% | 0.0% | 54.08% |
2021 | 0.0% | 0.0% | 0.0% | 54.26% |
2020 | 0.0% | 0.0% | 0.0% | 57.14% |
2019 | 0.0% | 0.0% | 0.0% | 56.84% |
Total Return Ranking - Trailing
Period | DFSXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.7% | 0.0% | 2.7% | 85.71% |
1 Yr | 2.1% | 0.0% | 3.6% | 85.71% |
3 Yr | 0.9%* | 0.0% | 1.3% | 62.77% |
5 Yr | 1.0%* | 0.0% | 1.4% | 33.67% |
10 Yr | N/A* | 0.0% | 0.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DFSXX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.6% | 0.0% | 1.2% | 75.47% |
2022 | 0.1% | 0.0% | 0.3% | 12.24% |
2021 | 1.6% | 0.0% | 2.4% | 6.38% |
2020 | 1.1% | 0.0% | 2.7% | 53.06% |
2019 | 0.8% | 0.0% | 1.6% | 72.63% |
NAV & Total Return History
DFSXX - Holdings
Concentration Analysis
DFSXX | Category Low | Category High | DFSXX % Rank | |
---|---|---|---|---|
Net Assets | 2.04 B | 3.67 M | 17.3 B | 26.42% |
Number of Holdings | 23 | 1 | 921 | 97.17% |
Net Assets in Top 10 | 11.5 M | 11.5 M | 17.4 B | 100.00% |
Weighting of Top 10 | 48.42% | 9.8% | 100.0% | 11.32% |
Top 10 Holdings
- CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV VRDO IAM COML PAPER 3/A2 SER K 0.2 6.31%
- CALIFORNIA PUB FIN AUTH REV 0.11% 5.12%
- UNIVERSITY CALIF REVS 0.08% 5.12%
- SAN FRANCISCO CALIF CITY & CNTY FIN CORP LEASE REV 0.43% 5.11%
- METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV 0.3% 4.99%
- LOS ANGELES CALIF DEPT WTR & PWR REV 0.01% 4.97%
- RANCHO CALF WTR DIST CMNTY FACS DIST NO 89-5 SPL TAX 0.01% 4.97%
- IRVINE CALIF IMPT BD ACT 1915 0.09% 4.91%
- SANTA CLARA VY CALIF TRANSN AUTH SALES TAX REV 0.05% 4.91%
- CALIFORNIA ST 0.1% 4.82%
Asset Allocation
Weighting | Return Low | Return High | DFSXX % Rank | |
---|---|---|---|---|
Bonds | 99.73% | 0.00% | 99.73% | 1.89% |
Cash | 0.27% | 0.27% | 100.00% | 100.00% |
Stocks | 0.00% | 0.00% | 0.00% | 56.60% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 56.60% |
Other | 0.00% | 0.00% | 0.00% | 56.60% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 56.60% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DFSXX % Rank | |
---|---|---|---|---|
Municipal | 99.73% | 0.00% | 99.73% | 1.89% |
Cash & Equivalents | 0.27% | 0.27% | 100.00% | 100.00% |
Derivative | 0.00% | 0.00% | 0.00% | 56.60% |
Securitized | 0.00% | 0.00% | 0.00% | 56.60% |
Corporate | 0.00% | 0.00% | 0.00% | 56.60% |
Government | 0.00% | 0.00% | 13.45% | 60.38% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DFSXX % Rank | |
---|---|---|---|---|
US | 99.73% | 0.00% | 99.73% | 1.89% |
Non US | 0.00% | 0.00% | 0.00% | 56.60% |
DFSXX - Expenses
Operational Fees
DFSXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.62% | 0.12% | 1.39% | 1.89% |
Management Fee | 0.15% | 0.08% | 0.49% | 29.25% |
12b-1 Fee | N/A | 0.00% | 0.75% | N/A |
Administrative Fee | 0.05% | 0.03% | 0.55% | 13.51% |
Sales Fees
DFSXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
DFSXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
DFSXX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 1.07% | N/A |
DFSXX - Distributions
Dividend Yield Analysis
DFSXX | Category Low | Category High | DFSXX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.64% | 77.36% |
Dividend Distribution Analysis
DFSXX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
DFSXX | Category Low | Category High | DFSXX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.01% | 0.00% | 0.12% | 65.69% |
Capital Gain Distribution Analysis
DFSXX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 31, 2021 | $0.000 | DailyAccrualFund |
Dec 31, 2020 | $0.001 | DailyAccrualFund |
Nov 27, 2020 | $0.001 | DailyAccrualFund |
Oct 29, 2020 | $0.001 | DailyAccrualFund |
Sep 29, 2020 | $0.001 | DailyAccrualFund |
Aug 28, 2020 | $0.001 | DailyAccrualFund |
Jul 31, 2020 | $0.001 | DailyAccrualFund |
Jun 30, 2020 | $0.001 | DailyAccrualFund |
Apr 29, 2020 | $0.000 | DailyAccrualFund |
Mar 30, 2020 | $0.002 | DailyAccrualFund |
Feb 28, 2020 | $0.001 | DailyAccrualFund |
Jan 31, 2020 | $0.001 | DailyAccrualFund |
Dec 31, 2019 | $0.001 | DailyAccrualFund |
Nov 29, 2019 | $0.001 | DailyAccrualFund |
Oct 31, 2019 | $0.001 | DailyAccrualFund |
Sep 30, 2019 | $0.001 | DailyAccrualFund |
Aug 30, 2019 | $0.001 | DailyAccrualFund |
Jul 31, 2019 | $0.001 | DailyAccrualFund |
May 31, 2019 | $0.001 | DailyAccrualFund |
Apr 30, 2019 | $0.001 | DailyAccrualFund |
Mar 29, 2019 | $0.001 | DailyAccrualFund |
Feb 28, 2019 | $0.001 | DailyAccrualFund |
Jan 31, 2019 | $0.001 | DailyAccrualFund |
Dec 31, 2018 | $0.001 | DailyAccrualFund |
Nov 30, 2018 | $0.001 | DailyAccrualFund |
Oct 31, 2018 | $0.001 | DailyAccrualFund |
Aug 31, 2018 | $0.001 | DailyAccrualFund |
Jul 31, 2018 | $0.000 | DailyAccrualFund |
Jun 29, 2018 | $0.001 | DailyAccrualFund |
May 31, 2018 | $0.001 | DailyAccrualFund |
Apr 30, 2018 | $0.001 | DailyAccrualFund |
Mar 29, 2018 | $0.001 | DailyAccrualFund |
Feb 28, 2018 | $0.000 | DailyAccrualFund |
Jan 31, 2018 | $0.001 | DailyAccrualFund |
Dec 29, 2017 | $0.001 | DailyAccrualFund |
Nov 30, 2017 | $0.000 | DailyAccrualFund |
Oct 31, 2017 | $0.000 | DailyAccrualFund |
Sep 29, 2017 | $0.000 | DailyAccrualFund |
Aug 31, 2017 | $0.000 | DailyAccrualFund |
Jul 31, 2017 | $0.000 | DailyAccrualFund |
Jun 30, 2017 | $0.000 | DailyAccrualFund |
May 31, 2017 | $0.000 | DailyAccrualFund |
Apr 28, 2017 | $0.000 | DailyAccrualFund |
Mar 31, 2017 | $0.000 | DailyAccrualFund |
Oct 31, 2016 | $0.000 | DailyAccrualFund |