TECFX: American Funds Tax-Exempt Fund of CA F1

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TECFX American Funds Tax-Exempt Fund of CA F1

  • Fund
  • TECFX
  • Price as of: Oct 18, 2019
  • $18.15 - $0.01 - 0.06%

TECFX - Profile

Vitals

  • YTD Return 4.6%
  • 3 Yr Annualized Return 0.5%
  • 5 Yr Annualized Return 0.3%
  • Net Assets $2.68 B
  • Holdings in Top 10 7.0%

52 WEEK LOW AND HIGH

$18.15
$17.09
$18.35

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.72%

SALES FEES

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

BROKERAGE FEES

  • Turnover 27.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Long

Distributions

  • YTD Total Return 4.6%
  • 3 Yr Annualized Total Return 0.5%
  • 5 Yr Annualized Total Return 0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.76%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name American Funds Tax-Exempt Fund of California®
  • Fund Family Name American Funds
  • Inception Date Mar 20, 2001
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Karl J. Zeile

Fund Description

The fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of California and its agencies and municipalities. It may also invest in municipal securities that are issued by jurisdictions outside California. The fund will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from both regular federal and California income taxes and that do not subject the investors to federal alternative minimum tax.

TECFX - Performance

Return Ranking - Trailing

Period TECFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% 2.3% 10.4% 53.37%
1 Yr 5.9% 1.8% 12.9% 63.54%
3 Yr 0.5%* -1.6% 5.6% 51.43%
5 Yr 0.3%* -1.4% 6.1% 56.97%
10 Yr 1.4%* -1.0% 7.7% 47.59%

* Annualized


Return Ranking - Calendar

Period TECFX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.2% -6.2% 2.8% 34.05%
2017 2.8% -0.2% 6.8% 36.69%
2016 -3.1% -7.9% -1.7% 46.25%
2015 0.0% -1.9% 1.8% 57.96%
2014 7.0% 1.5% 16.6% 60.13%

Total Return Ranking - Trailing

Period TECFX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% 2.3% 10.4% 53.37%
1 Yr 5.9% 0.8% 12.9% 56.25%
3 Yr 0.5%* -1.6% 4.6% 54.29%
5 Yr 0.3%* -1.4% 6.1% 61.82%
10 Yr 1.4%* -1.0% 7.7% 48.97%

* Annualized


Total Return Ranking - Calendar

Period TECFX Return Category Return Low Category Return High Rank in Category (%)
2018 -2.2% -6.2% 2.8% 36.22%
2017 2.8% -0.2% 6.9% 42.01%
2016 -3.1% -7.9% 0.8% 49.38%
2015 0.0% -1.9% 3.7% 62.42%
2014 7.0% 2.0% 16.6% 60.13%

NAV & Total Return History

TECFX - Holdings

Concentration Analysis

TECFX Category Low Category High TECFX % Rank
Net Assets 2.68 B 3.1 M 16.3 B 11.73%
Number of Holdings 1055 18 3999 2.55%
Net Assets in Top 10 188 M -110 M 2.97 B 22.45%
Weighting of Top 10 7.01% 3.8% 80.5% 94.39%

Top 10 Holdings

  1. BAY AREA TOLL AUTH CALIF TOLL BRDG REV 5% 0.94%

  2. CALIFORNIA ST DEPT WTR RES CENT VY PROJ REV 4% 0.90%

  3. CALIFORNIA HSG FIN AGY MUN CTFS 4.25% 0.79%

  4. CALIFORNIA ST 4% 0.73%

  5. LOS ANGELES CNTY CALIF 5% 0.71%

  6. CALIFORNIA ST 4% 0.66%

  7. FRETE 2019-ML05 TR 3.35% 0.64%

  8. METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV 1.36% 0.60%

  9. CALIFORNIA HEALTH FACS FING AUTH REV 4% 0.54%

  10. CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5% 0.51%


Asset Allocation

Weighting Return Low Return High TECFX % Rank
Bonds
97.50% 91.08% 158.35% 80.10%
Cash
2.50% -38.61% 8.91% 18.37%
Stocks
0.00% 0.00% 0.20% 91.84%
Preferred Stocks
0.00% 0.00% 0.00% 91.84%
Other
0.00% -40.48% 2.17% 90.31%
Convertible Bonds
0.00% 0.00% 0.00% 91.84%

Bond Sector Breakdown

Weighting Return Low Return High TECFX % Rank
Municipal
97.50% 91.09% 153.13% 82.14%
Cash & Equivalents
2.50% -38.61% 8.91% 18.37%
Derivative
0.00% 0.00% 0.00% 91.84%
Securitized
0.00% 0.00% 1.72% 91.84%
Corporate
0.00% 0.00% 1.71% 91.84%
Government
0.00% -5.09% 1.93% 83.67%

Bond Geographic Breakdown

Weighting Return Low Return High TECFX % Rank
US
96.69% 87.68% 158.35% 68.37%
Non US
0.81% 0.00% 8.93% 57.14%

TECFX - Expenses

Operational Fees

TECFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.09% 28.64% 62.18%
Management Fee 0.29% 0.00% 0.70% 10.20%
12b-1 Fee 0.25% 0.00% 1.00% 57.66%
Administrative Fee 0.05% 0.01% 0.33% 20.29%

Sales Fees

TECFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TECFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 1.00% 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.

TECFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 27.00% 0.00% 293.00% 55.67%

TECFX - Distributions

Dividend Yield Analysis

TECFX Category Low Category High TECFX % Rank
Dividend Yield 1.34% 0.00% 4.09% 60.20%

Dividend Distribution Analysis

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

Dividend Payout History


Net Income Ratio Analysis

TECFX Category Low Category High TECFX % Rank
Net Income Ratio 2.76% 0.87% 6.70% 63.73%

Capital Gain Distribution Analysis

TECFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

TECFX - Managers

Karl J. Zeile

Manager

Start Date

Tenure

Tenure Rank

Jan 01, 2003

16.76

16.8%

Zeile has been employed by Capital and its affiliates since 1999


Mark Marinella

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2018

1.0

1.0%

Mark Marinella is a fixed income portfolio manager at Capital Group. He has 31 years of investment industry experience and has been with Capital Group for four years. Earlier in his career at Capital, he was head of the Investment Resources Group as well as a senior manager in fixed income. Prior to joining Capital, Mark was a global chief investment officer for fixed income and currencies at State Street Global Advisors. He holds an MBA from Boston College and a bachelor’s degree in economics from the University of Massachusetts. He also holds the Chartered Financial Analyst® designation. Mark is based in Los Angeles.


Tenure Analysis

Category Low

0.25

Category High

30.77

Category Average

9.03

Category Mode

6.59