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SCTAX Wells Fargo California Tax-Free A

  • Fund
  • SCTAX
  • Price as of: May 22, 2019
  • $11.85 - $0.00 - 0.00%
  • Category
  • Single State Municipal Bonds

SCTAX - Profile

Vitals

  • YTD Return 2.6%
  • 3 Yr Annualized Return -1.2%
  • 5 Yr Annualized Return 0.2%
  • Net Assets $1.01 B
  • Holdings in Top 10 16.7%

52 WEEK LOW AND HIGH

$11.85
$11.38
$11.86

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.83%

SALES FEES

  • Front Load 4.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 33.00%

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 2.6%
  • 3 Yr Annualized Total Return -1.2%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.15%
DIVIDENDS
  • Dividend Yield 0.0%
  • 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 Adrian Van Poppel

SCTAX - Performance

Return Ranking - Trailing

Period SCTAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -3.1% 6.8% 46.29%
1 Yr 2.2% -4.5% 9.0% 59.14%
3 Yr -1.2%* -2.9% 3.7% 73.50%
5 Yr 0.2%* -2.0% 1.6% 22.92%
10 Yr 1.3%* -1.2% 4.3% 11.09%

* Annualized


Return Ranking - Calendar

Period SCTAX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.7% -7.2% 11.0% 74.37%
2017 1.9% -10.1% 6.8% 29.68%
2016 -3.1% -4.9% 0.0% 67.77%
2015 0.2% -5.6% 1.8% 20.89%
2014 8.0% -34.8% 15.6% 11.68%

Total Return Ranking - Trailing

Period SCTAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -3.1% 6.8% 47.04%
1 Yr 2.2% -4.5% 9.0% 61.54%
3 Yr -1.2%* -2.9% 3.7% 77.20%
5 Yr 0.2%* -1.4% 4.2% 28.65%
10 Yr 1.3%* -1.1% 5.5% 14.45%

* Annualized


Total Return Ranking - Calendar

Period SCTAX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.7% -7.2% 11.0% 76.52%
2017 1.9% -10.1% 6.9% 35.41%
2016 -3.1% -4.9% 1.0% 73.63%
2015 0.2% -5.6% 4.0% 27.26%
2014 8.0% -34.8% 16.3% 12.75%

NAV & Total Return History

SCTAX - Holdings

Concentration Analysis

SCTAX Category Low Category High SCTAX % Rank
Net Assets 1.01 B 6.28 M 19.8 B 12.58%
Number of Holdings 318 23 4231 13.46%
Net Assets in Top 10 165 M -4.71 M 2.82 B 15.85%
Weighting of Top 10 16.67% 2.5% 59.3% 70.94%

Top 10 Holdings

  1. CALIFORNIA ST 5% 4.17%

  2. CALIFORNIA ST PUB WKS BRD LEASE REV 5% 2.56%

  3. CALIFORNIA ST 6% 1.54%

  4. LOS ANGELES CALIF DEPT WTR & PWR REV 5% 1.42%

  5. CALIFORNIA ST 5.25% 1.40%

  6. CALIFORNIA ST 5% 1.17%

  7. CALIFORNIA HEALTH FACS FING AUTH REV 4% 1.12%

  8. ILLINOIS ST 5% 1.12%

  9. CALIFORNIA ST PUB WKS BRD LEASE REV 5% 1.09%

  10. LOS ANGELES CALIF CMNTY COLLEGE DIST 4% 1.09%


Asset Allocation

Weighting Return Low Return High SCTAX % Rank
Bonds
99.44% -0.21% 102.82% 33.21%
Other
0.51% -1.80% 8.92% 12.45%
Cash
0.05% -2.82% 93.39% 73.46%
Stocks
0.00% 0.00% 0.31% 87.92%
Preferred Stocks
0.00% 0.00% 0.00% 87.92%
Convertible Bonds
0.00% 0.00% 0.00% 87.92%

Bond Sector Breakdown

Weighting Return Low Return High SCTAX % Rank
Municipal
99.44% 0.00% 102.82% 34.21%
Cash & Equivalents
0.05% -2.82% 93.39% 69.06%
Derivative
0.00% 0.00% 0.00% 87.92%
Securitized
0.00% 0.00% 0.00% 87.92%
Corporate
0.00% 0.00% 13.08% 88.55%
Government
0.00% -17.97% 1.02% 81.38%

Bond Geographic Breakdown

Weighting Return Low Return High SCTAX % Rank
US
98.69% -0.21% 102.38% 28.30%
Non US
0.75% 0.00% 21.15% 56.73%

SCTAX - Expenses

Operational Fees

SCTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.09% 2.58% 54.34%
Management Fee 0.39% 0.08% 1.30% 20.38%
12b-1 Fee 0.00% 0.00% 1.00% 15.82%
Administrative Fee 0.16% 0.00% 0.33% 91.58%

Sales Fees

SCTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 1.00% 5.75% 18.83%
Deferred Load N/A 0.50% 5.00% N/A

Trading Fees

SCTAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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 Return Low Category Return High Rank in Category (%)
Turnover 33.00% 3.32% 293.00% 87.13%

SCTAX - Distributions

Dividend Yield Analysis

SCTAX Category Low Category High SCTAX % Rank
Dividend Yield 0.03% 0.00% 1.04% 31.45%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

SCTAX Category Low Category High SCTAX % Rank
Net Income Ratio 3.15% -0.21% 4.62% 26.04%

Capital Gain Distribution Analysis

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

SCTAX - Managers

Adrian Van Poppel

Manager

Start Date

Tenure

Tenure Rank

Nov 01, 2009

9.5

9.5%

Adrian Van Poppel is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal 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 WFAM 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

Tenure

Tenure Rank

Jul 06, 2011

7.82

7.8%

Terry Goode is a senior portfolio manager for the Wells Fargo Asset Management (WFAM) Municipal Fixed Income team, where he manages California, Arizona, Colorado, and Oregon funds and separate accounts. Previously, Terry served as the leader of the WFAM Tax-Exempt Research team, where he managed a group of professionals who provide credit research for the Municipal Fixed Income team. He also specialized in directly covering a number of municipal sectors. Prior to joining WFAM 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.


Brandon Pae

Manager

Start Date

Tenure

Tenure Rank

Mar 28, 2019

0.09

0.1%

Mr. Pae joined Wells Capital Management Incorporated in 2012, where he currently serves as a Portfolio Manager.


Tenure Analysis

Category Low

0.0

Category High

39.6

Category Average

9.09

Category Mode

1.33