Morningstar

Nomura Tax-Free California Fund Institutional Class DCTIX

Morningstar Medalist Rating
Medalist Rating as of | See Nomura Investment Hub
  • NAV / 1-Day Return 10.89  /  −0.09 %
  • Total Assets 279.6M
  • Adj. Expense Ratio
    0.550%
  • Expense Ratio 0.560%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 4.18%
  • Effective Duration 9.87 years

USD | NAV as of Jul 16, 2026 | 1-Day Return as of Jul 16, 2026, 12:11 AM GMT+0

Morningstar’s Analysis DCTIX

Will DCTIX 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 DCTIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

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

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Nomura Tax-Free California Institutional holds a quantitatively derived Neutral Morningstar Medalist Rating. The rating suggests the model does not express a clear expectation of outperformance or underperformance relative to peers over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings DCTIX

More DCTIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 17.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%

3.00 8M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

2.12 6M
municipal

CALIFORNIA HEALTH FACS FING AUTH REV 4%

1.81 5M
municipal

CALIFORNIA ST UNIV REV 3%

1.76 5M
municipal

GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO 7.5%

1.64 5M
municipal

CALIFORNIA EDL FACS AUTH REV 5%

1.42 4M
municipal

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 5.25%

1.40 4M
municipal

SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WTR REV 5.25%

1.34 4M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.5%

1.33 4M
municipal

LOS ANGELES CALIF DEPT WTR & PWR REV 5%

1.29 4M
municipal

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