Morningstar

American Century California High Yield Municipal Fund Class C CAYCX

Morningstar Medalist Rating
Medalist Rating as of | See American Century Investment Hub
  • NAV / 1-Day Return 9.01  /  −0.11 %
  • Total Assets 1.6B
  • Adj. Expense Ratio
    1.500%
  • Expense Ratio 1.490%
  • Distribution Fee Level Average
  • Share Class Type Level Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 3.25%
  • Effective Duration 8.12 years

USD | NAV as of Oct 02, 2026 | 1-Day Return as of Oct 02, 2026, 11:14 PM GMT+0

Morningstar’s Analysis CAYCX

Will CAYCX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CAYCX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the CAYCX 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 CAYCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An atypical California high-yield muni strategy.

Associate Analyst River Meng

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 Published on

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Portfolio Holdings CAYCX

More CAYCX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 8.7
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.31 22M
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%

0.99 16M
municipal

CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25%

0.89 15M
municipal

CALIFORNIA HSG FIN AGY MUN CTFS 3.5%

0.88 15M
municipal

PALOMAR HEALTH CALIF REV 5%

0.88 15M
municipal

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

0.84 14M
municipal

NATIONAL FIN AUTH N H MUN CTFS 3.925%

0.78 13M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.329%

0.77 13M
municipal

CSCDA CMNTY IMPT AUTH CALIF ESSENTIAL HSG REV 5%

0.68 11M
municipal

SILICON VY TOB SECURITIZATION AUTH CALIF TOB SETTLEMENT REV 0.01%

0.68 11M
municipal

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