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Morningstar

American Funds Tax-Exempt Fund of CA F2 TEFEX

Morningstar Analyst Rating
Analyst rating as of | See American Funds Investment Hub
  • NAV / 1-Day Return 16.67  /  0.23 %
  • Total Assets 2.6 Bil
  • Adj. Expense Ratio
    0.390%
  • Expense Ratio 0.360%
  • Distribution Fee Level Low
  • Share Class Type No Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.56%
  • Effective Duration 7.67 years

USD | NAV as of Feb 03, 2023 | 1-Day Return as of Feb 03, 2023, 11:15 PM GMT+00:00

Morningstar’s Analysis TEFEX

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

People Pillar

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

Associate Director

Summary

| by Elizabeth Foos

The experienced managers charged with running American Funds Tax-Exempt Fund of California are supported by a solid analyst team that follows a prudent, research-based approach to build this portfolio. They collaborate well and display strong and efficient communication and organized succession planning, which earns a People Pillar rating upgrade to High from Above Average. The strategy's cheapest share classes now carry a Morningstar Analyst Rating of Gold, while its more-expensive shares earn Bronze and Neutral ratings.

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