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Morningstar

American Funds Tax-Exempt Fund of CA F1 TECFX

Morningstar Medalist Rating
Medalist Rating as of | See American Funds Investment Hub
  • NAV / 1-Day Return 15.78  /  0.18 %
  • Total Assets 2.7 Bil
  • Adj. Expense Ratio
    0.640%
  • Expense Ratio 0.640%
  • Distribution Fee Level High
  • Share Class Type No Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.55%
  • Effective Duration 6.71 years

USD | NAV as of Sep 26, 2023 | 1-Day Return as of Sep 26, 2023, 10:24 PM GMT+0

Morningstar’s Analysis TECFX

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

People Pillar

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

It’s still sunny for this California-focused strategy.

Associate Director Elizabeth Foos

Elizabeth Foos

Associate Director

Summary

American Funds Tax-Exempt Bond of California’s team is large, seasoned, and collaborative, while the approach is sensible and rooted in research. The strategy's cheapest share class earns a Morningstar Medalist Rating of Gold, and its more-expensive shares earn Silver, Bronze, and Neutral ratings.

by Elizabeth Foos
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings TECFX

More TECFX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 1386
  • Other Holdings 16
  • % Assets in Top 10 Holdings 9.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

LOS ANGELES CALIF DEPT WTR & PWR WTRWKS REV 2.72%

2.99
81,150,000
municipal

PASADENA CALIF CTFS PARTN 3.26%

1.16
31,480,000
municipal

CALIFORNIA HSG FIN AGY MUN CTFS 4%

0.85
23,048,404
municipal

UNIVERSITY CALIF REVS 2.95%

0.82
22,250,000
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%

0.82
22,158,444
municipal

CALIFORNIA HSG FIN AGY MUN CTFS 3.5%

0.74
20,085,120
municipal

UNIVERSITY CALIF REVS 3%

0.71
19,175,000
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

0.64
17,387,013
municipal

UNIVERSITY CALIF REVS 2.75%

0.64
17,280,000
municipal

CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV 3.875%

0.55
14,999,325
Cash and Equivalents