American Century California High Yield Municipal Fund Investor Class BCHYX

Medalist Rating as of Apr 30, 2026 See American Century Investment Hub

NAV / 1-Day Return$9.41 / 0.00
Fund Size$1.5B
Adjusted Expense Ratio0.500%
Net Expense Ratio0.490%
Fee Level: DistributionBelow Average
Share Class TypeNo Load
Morningstar CategoryMuni California Long
Fixed-Income Style Box (Funds)—
Minimum Initial Investment$2,500
Investment StatusOpen
TTM Yield4.21%
Average Effective Duration8.66 yrs

NAV and 1-Day Return as of Nov 10, 2026, 1:11:02 AM

Will BCHYX outperform in the future?

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable BCHYX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the BCHYX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of BCHYX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An atypical California high-yield muni strategy.

River Meng

Associate Analyst

Summary

American Century California High Yield Muni’s sizable appetite for below-investment-grade debt is in line with a small subset of California-focused rivals, but the strategy is otherwise unremarkable.

by River Meng

Rated on Apr 30, 2026 Published on Apr 30, 2026

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Portfolio Holdings BCHYX

More BCHYX Holdings

Current Portfolio DateSep 30, 2026
Equity Holdings—
Bond Holdings—
Other Holdings—
% Assets in Top 10 Holdings8.3

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%	0.99	15M	municipal
CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25%	0.93	14M	municipal
PALOMAR HEALTH CALIF REV 5%	0.88	14M	municipal
CALIFORNIA HSG FIN AGY MUN CTFS 3.5%	0.87	13M	municipal
SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0.01%	0.86	13M	municipal
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%	0.85	13M	municipal
NATIONAL FIN AUTH N H MUN CTFS 3.925%	0.76	12M	municipal
PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.329%	0.76	12M	municipal
UNIVERSITY CALIF REVS 3.4%	0.75	12M	municipal
SILICON VY TOB SECURITIZATION AUTH CALIF TOB SETTLEMENT REV 0.01%	0.70	11M	municipal

American Century California High Yield Municipal Fund Investor Class BCHYX

Morningstar’s Analysis BCHYX

Will BCHYX outperform in the future?

Process Pillar

People Pillar

Parent Pillar

An atypical California high-yield muni strategy.

Summary

Portfolio Holdings BCHYX

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%

CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25%

PALOMAR HEALTH CALIF REV 5%

CALIFORNIA HSG FIN AGY MUN CTFS 3.5%

SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0.01%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

NATIONAL FIN AUTH N H MUN CTFS 3.925%

PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.329%

UNIVERSITY CALIF REVS 3.4%

SILICON VY TOB SECURITIZATION AUTH CALIF TOB SETTLEMENT REV 0.01%

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