American Funds Tax-Exempt Fund of California (TAFTX)
The fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of California and its agencies and municipalities. It may also invest in municipal securities that are issued by jurisdictions outside California. The fund will invest at least 80% of its assets in, or derive 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 investors to federal alternative minimum tax.
Fund Info
US02630B1098
02630B109
Oct 27, 1986
$1,000
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in American Funds Tax-Exempt Fund of California, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
American Funds Tax-Exempt Fund of California had a return of 2.76% year-to-date (YTD) and 7.25% in the last 12 months. Over the past 10 years, American Funds Tax-Exempt Fund of California had an annualized return of 2.23%, while the S&P 500 had an annualized return of 11.13%, indicating that American Funds Tax-Exempt Fund of California did not perform as well as the benchmark.
TAFTX
2.76%
-0.11%
3.09%
7.25%
0.96%
2.23%
^GSPC (Benchmark)
24.05%
1.08%
11.50%
30.38%
13.77%
11.13%
Monthly Returns
The table below presents the monthly returns of TAFTX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.00% | 0.10% | 0.12% | -1.09% | 0.18% | 1.64% | 0.84% | 0.77% | 1.18% | -1.40% | 2.76% | ||
| 2023 | 2.94% | -2.20% | 1.75% | -0.10% | -0.75% | 0.72% | 0.23% | -1.11% | -2.62% | -1.47% | 6.54% | 2.54% | 6.29% |
| 2022 | -2.51% | -0.57% | -2.88% | -3.44% | 1.23% | -2.39% | 3.10% | -2.25% | -3.72% | -0.86% | 4.99% | 0.04% | -9.24% |
| 2021 | 0.56% | -1.36% | 0.73% | 0.88% | 0.44% | 0.27% | 0.71% | -0.32% | -0.71% | -0.11% | 0.82% | -0.21% | 1.69% |
| 2020 | 1.75% | 1.33% | -4.16% | -1.83% | 3.14% | 0.97% | 1.69% | -0.42% | 0.07% | -0.20% | 1.63% | 0.18% | 4.03% |
| 2019 | 0.60% | 0.45% | 1.63% | 0.41% | 1.53% | 0.45% | 0.67% | 1.65% | -0.67% | 0.10% | 0.10% | -0.29% | 6.80% |
| 2018 | -1.09% | -0.41% | 0.47% | -0.39% | 1.11% | 0.07% | 0.13% | 0.25% | -0.57% | -0.68% | 0.83% | 1.01% | 0.71% |
| 2017 | 0.38% | 0.64% | 0.27% | 0.72% | 1.41% | -0.10% | 0.60% | 0.87% | -0.27% | 0.36% | -0.16% | 1.10% | 5.95% |
| 2016 | 1.00% | 0.13% | 0.54% | 0.64% | 0.31% | 1.52% | -0.14% | 0.36% | -0.47% | -1.03% | -4.12% | 1.26% | -0.12% |
| 2015 | 1.52% | -0.80% | 0.40% | -0.34% | -0.28% | -0.29% | 0.68% | 0.35% | 0.63% | 0.39% | 0.44% | 0.67% | 3.40% |
| 2014 | 2.49% | 1.31% | 0.36% | 1.23% | 1.50% | 0.12% | 0.23% | 1.26% | 0.51% | 0.56% | 0.22% | 0.51% | 10.77% |
| 2013 | 0.69% | 0.47% | -0.21% | 1.15% | -1.05% | -3.45% | -1.02% | -1.60% | 2.27% | 0.80% | -0.09% | -0.16% | -2.29% |
Expense Ratio
TAFTX features an expense ratio of 0.57%, falling within the medium range.
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of TAFTX is 65, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for American Funds Tax-Exempt Fund of California (TAFTX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
American Funds Tax-Exempt Fund of California provided a 2.84% dividend yield over the last twelve months, with an annual payout of $0.48 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.48 | $0.45 | $0.39 | $0.37 | $0.42 | $0.48 | $0.51 | $0.52 | $0.54 | $0.59 | $0.61 | $0.64 |
Dividend yield | 2.84% | 2.67% | 2.42% | 2.01% | 2.27% | 2.65% | 2.93% | 2.95% | 3.13% | 3.32% | 3.43% | 3.84% |
Monthly Dividends
The table displays the monthly dividend distributions for American Funds Tax-Exempt Fund of California. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.39 | |
| 2023 | $0.04 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.45 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.39 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2020 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.42 |
| 2019 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.48 |
| 2018 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.51 |
| 2017 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.52 |
| 2016 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.04 | $0.05 | $0.05 | $0.04 | $0.04 | $0.04 | $0.05 | $0.54 |
| 2015 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.59 |
| 2014 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.61 |
| 2013 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.64 |
Drawdowns
Drawdowns Chart
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the American Funds Tax-Exempt Fund of California. 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 American Funds Tax-Exempt Fund of California was 16.03%, occurring on Dec 16, 2008. Recovery took 179 trading sessions.
The current American Funds Tax-Exempt Fund of California drawdown is 1.40%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.03% | Jan 24, 2008 | 227 | Dec 16, 2008 | 179 | Sep 2, 2009 | 406 |
| -14.47% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -13.37% | Jun 29, 1987 | 81 | Oct 19, 1987 | 52 | Dec 30, 1987 | 133 |
| -10.81% | Mar 10, 2020 | 9 | Mar 20, 2020 | 170 | Nov 19, 2020 | 179 |
| -9.11% | Feb 1, 1994 | 210 | Nov 21, 1994 | 81 | Mar 14, 1995 | 291 |
Volatility
Volatility Chart
The current American Funds Tax-Exempt Fund of California volatility is 1.60%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.