DWS California Tax (KCTAX)

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DWS California Tax (KCTAX) is up 0.7% since the beginning of the year. KCTAX is currently trading at $7 per share. Investors who bought $1,000 worth of KCTAX shares 5 years ago would now be looking at an investment worth $979.

DWS California Tax (KCTAX) has returned 0.71% so far this year and 5.81% over the past 12 months. Over the last ten years, KCTAX has returned 1.34% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since Feb 17, 1983, KCTAX's average daily return is +0.02%, while the average monthly return is +0.34%. At this rate, an investment would double in approximately 17.0 years.

Historically, 63% of months were positive and 37% were negative. The best month was Nov 2023 with a return of +6.8%, while the worst month was May 1983 at -5.9%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.

On a daily basis, KCTAX closed higher 33% of trading days. The best single day was Mar 25, 2020 with a return of +4.0%, while the worst single day was May 31, 1983 at -6.1%.

DWS California Tax has an annualized alpha of 3.95%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 17, 1983.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (16.16%) than losses (6.58%) - typical of diversified or defensive assets.
• Beta of 0.01 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

KCTAX has an expense ratio of 0.76%, placing it in the medium range.

KCTAX ranks 70 for risk / return — above 70% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.

DWS California Tax provided a 3.18% dividend yield over the last twelve months, with an annual payout of $0.21 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for DWS California Tax. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the DWS California Tax. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the DWS California Tax was 17.87%, occurring on Oct 25, 2022. The portfolio has not yet recovered.

The current DWS California Tax drawdown is 2.22%.

The chart below shows the rolling one-month volatility.