American Funds Tax-Exempt Fund California®

Scorecard
2 / 5 Stars
Lipper
2 2 2 4 3
Zacks Investment Research
2 (Buy)
Standard & Poor's
3 / 5 Stars
TheStreet.com
A+ (Buy)

U.S. News evaluated 34 Muni California Long Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.

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Performance

The fund has returned 0.10 percent over the past year, 7.01 percent over the past three years, 7.05 percent over the past five years, and 3.60 percent over the past decade.

Trailing Returns Updated 03.31.2014
Year to date 4.0%
1 Year 0.1%
3 Years (Annualized) 7.0%
5 Years (Annualized) 7.1%
10 Years (Annualized) 3.6%

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Summary

The investment seeks a high level of current income exempt from regular federal and California income taxes; its secondary objective is preservation of capital. The fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of California and its agencies and municipalities within the state. It may also invest in municipal securities that are issued by jurisdictions outside California. The fund normally invests at least 80% of its assets in, or derives at least 80% of its income from, securities that are exempt from both regular federal and California income taxes and that do not subject the investment to federal AMT.

Fees

Fees are High compared to funds in the same category.
American Funds Tax-Exempt Fund California® has an expense ratio of 1.37 percent.

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Risk

Risk is Below Average compared to funds in the same category according to Morningstar.

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