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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 16.50  /  +0.07 %
  • Total Assets 2.9 Bil
  • Adj. Expense Ratio
    0.650%
  • Expense Ratio 0.650%
  • 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 2.66%
  • Effective Duration 6.26 years

USD | NAV as of Apr 23, 2024 | 1-Day Return as of Apr 23, 2024, 10:17 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 —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 9.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CALIFORNIA MUN FIN AUTH REV 0%

1.69 49.5 Mil
municipal

United States Treasury Bills 0%

1.19 34.9 Mil
Government

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.12 32.8 Mil
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%

1.05 30.7 Mil
municipal

PASADENA CALIF CTFS PARTN 3.15%

1.02 29.9 Mil
municipal

CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV VRDO IAM COML PAPER 3/A2 SER 2009

0.93 27.2 Mil
Cash and Equivalents

LOS ANGELES CALIF DEPT WTR & PWR WTRWKS REV 0%

0.84 24.8 Mil
municipal

CALIFORNIA MUN FIN AUTH REV 0%

0.78 22.8 Mil
municipal

CALIFORNIA HSG FIN AGY MUN CTFS 3.5%

0.68 20.0 Mil
municipal

CALIFORNIA HSG FIN AGY MUN CTFS 4%

0.67 19.6 Mil
municipal