California Tax Free Fund
Daily price w/o sales charge as of 03/31/2026
$9.90
$0.03
YTD Returns w/o sales charge as of 03/31/2026
-0.46%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
Yield
Average Yield to Worst as of 02/27/2026 |
4.27% |
Distribution Yield as of 03/31/2026 |
2.97% |
| Subsidized2 | Un-Subsidized3 | |
|---|---|---|
| w/o sales charge | 2.90% | 2.89% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Yield to worst (YTW) refers to the lesser of a bond’s (a) yield-to-maturity or (b) the lowest yield-to-call calculated on each scheduled call date.
Distribution Yield is the calculation of cash flow for an investment vehicle, to calculate the distribution yield, the most recent distribution is multiplied by 12 to get an annualized total, which is then divided by the NAV.
Fund Basicsas of 02/27/2026
- Total Net Assets
- $708.24 M
- Inception Date
- 07/15/1996
- Dividend Frequency
- Monthly
- Fund Gross Expense Ratio
- 1.44%
- Fund Net Expense Ratio
- 1.41%
- Number of Holdings
- 283
- Minimum Initial Investment
- $1,000+
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 07/15/1996 |
|---|
| w/o sales charge | 2.00% | 3.07% | 3.62% | -0.08% | 1.46% | 3.28% |
| Lipper Category Avg. California Municipal Debt Funds | 2.05% | 3.84% | 4.38% | 1.03% | 2.13% | - |
| Bloomberg Municipal Bond Index | 2.20% | 4.96% | 4.44% | 1.44% | 2.43% | - |
| w/ sales charge | 1.00% | 2.07% | 3.62% | -0.08% | 1.46% | 3.28% |
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 07/15/1996 |
|---|
| w/o sales charge | 1.91% | 1.91% | 3.18% | -0.69% | 1.40% | 3.23% |
| Lipper Category Avg. California Municipal Debt Funds | 2.94% | 2.94% | 3.89% | 0.44% | 2.03% | - |
| Bloomberg Municipal Bond Index | 4.25% | 4.25% | 3.88% | 0.80% | 2.34% | - |
| w/ sales charge | 0.92% | 0.92% | 3.18% | -0.69% | 1.40% | 3.23% |
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost.
| Sector | Assets |
|---|---|
| Transportation | |
| IDR/PCR | |
| Healthcare/Hospital | |
| Education | |
| Special Tax | |
| GO Local | |
| Housing | |
| Water and Sewer | |
| Lease | |
| GO State | |
| Power | |
| Pre-Refunded |
The Fund's portfolio is actively managed and is subject to change.
| Maturity | Assets |
|---|---|
| <1 Year | |
| 1-3 Years | |
| 3-5 Years | |
| 5-7 Years | |
| 7-9 Years | |
| 9-12 Years | |
| 12-15 Years | |
| 15-18 Years | |
| 18-25 Years | |
| 25-30 Years | |
| 30+ Years |
The Fund's portfolio is actively managed and is subject to change.
Credit Quality Distribution as of 02/27/2026
| Rating | Assets |
|---|---|
| AAA | |
| AA | |
| A | |
| BBB | |
| < BBB | |
| Not Rated |
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Performance
Performance
Average Yield to Worst as of 02/27/2026
Distribution Yield as of 03/31/2026
30-Day Standardized Yield 1 as of 02/28/2026
| Subsidized2 | Un-Subsidized3 | |
|---|---|---|
| w/o sales charge | 2.90% | 2.89% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 07/15/1996 |
|---|
| w/o sales charge | 2.00% | 3.07% | 3.62% | -0.08% | 1.46% | 3.28% |
| Lipper Category Avg. California Municipal Debt Funds | 2.05% | 3.84% | 4.38% | 1.03% | 2.13% | - |
| Bloomberg Municipal Bond Index | 2.20% | 4.96% | 4.44% | 1.44% | 2.43% | - |
| w/ sales charge | 1.00% | 2.07% | 3.62% | -0.08% | 1.46% | 3.28% |
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 07/15/1996 |
|---|
| w/o sales charge | 1.91% | 1.91% | 3.18% | -0.69% | 1.40% | 3.23% |
| Lipper Category Avg. California Municipal Debt Funds | 2.94% | 2.94% | 3.89% | 0.44% | 2.03% | - |
| Bloomberg Municipal Bond Index | 4.25% | 4.25% | 3.88% | 0.80% | 2.34% | - |
| w/ sales charge | 0.92% | 0.92% | 3.18% | -0.69% | 1.40% | 3.23% |
Fund Expense Ratio :
Gross 1.44%
Net 1.41%
Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost.
| Year | Fund Returns | Bloomberg Municipal Bond Index |
|---|
| 2025 | 1.91% | 4.25% |
| 2024 | 1.41% | 1.05% |
| 2023 | 6.28% | 6.40% |
| 2022 | -13.80% | -8.53% |
| 2021 | 2.00% | 1.52% |
| 2020 | 3.85% | 5.21% |
| 2019 | 8.73% | 7.54% |
| 2018 | -0.11% | 1.28% |
| 2017 | 6.03% | 5.45% |
| 2016 | -0.49% | 0.25% |
| 2015 | 2.99% | - |
| 2014 | 12.50% | - |
| 2013 | -4.56% | - |
| 2012 | 11.06% | - |
| 2011 | 10.58% | - |
| 2010 | 0.19% | - |
| 2009 | 19.33% | - |
| 2008 | -13.98% | - |
| 2007 | -1.19% | - |
| 2006 | 3.52% | - |
| Year | Q1 | Q2 | Q3 | Q4 |
|---|
| 2026 | - | - | - | - |
| 2025 | -1.09% | -1.40% | 3.23% | 1.23% |
| 2024 | -0.03% | 0.48% | 2.45% | -1.47% |
| 2023 | 2.61% | 0.41% | -4.45% | 7.95% |
| 2022 | -8.19% | -6.28% | -4.22% | 4.59% |
| 2021 | -0.45% | 2.22% | -0.82% | 1.06% |
| 2020 | -3.14% | 3.22% | 1.31% | 2.54% |
| 2019 | 3.17% | 2.68% | 2.13% | 0.49% |
| 2018 | -1.03% | 0.98% | -0.50% | 0.45% |
| 2017 | 1.79% | 2.12% | 0.85% | 1.15% |
| 2016 | 1.88% | 3.46% | -0.19% | -5.41% |
| 2015 | 1.05% | -1.50% | 1.54% | 1.91% |
| 2014 | 4.59% | 3.35% | 2.22% | 1.81% |
| 2013 | 0.41% | -4.16% | -0.90% | 0.08% |
| 2012 | 4.32% | 1.62% | 3.16% | 1.55% |
| 2011 | -0.90% | 5.21% | 3.35% | 2.62% |
| 2010 | 1.41% | 1.12% | 4.45% | -6.46% |
| 2009 | 6.08% | 3.95% | 10.51% | -2.08% |
| 2008 | -2.53% | 1.10% | -5.96% | -7.17% |
| 2007 | 0.44% | -1.09% | -0.12% | -0.42% |
| 2006 | 0.00% | -0.31% | 2.81% | 1.01% |
| 2005 | 0.25% | 2.93% | -0.19% | 0.37% |
| 2004 | 1.76% | -3.02% | 3.83% | 1.18% |
| 2003 | 0.54% | 2.83% | -1.93% | 1.63% |
| 2002 | -0.10% | 2.84% | 5.36% | -1.12% |
| 2001 | 1.72% | -0.82% | 4.23% | -1.19% |
| 2000 | 3.83% | 1.34% | 3.17% | 5.12% |
| 1999 | 0.53% | -3.12% | -2.24% | -2.34% |
| 1998 | 0.65% | 1.29% | 3.33% | 0.01% |
| 1997 | -0.88% | 2.82% | 3.34% | 2.60% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
NAV Historical Prices
| Date | Net Asset Value |
|---|
Portfolio
Portfolio
| Sector | Assets |
|---|---|
| Transportation | |
| IDR/PCR | |
| Healthcare/Hospital | |
| Education | |
| Special Tax | |
| GO Local | |
| Housing | |
| Water and Sewer | |
| Lease | |
| GO State | |
| Power | |
| Pre-Refunded |
The Fund's portfolio is actively managed and is subject to change.
| Maturity | Assets |
|---|---|
| <1 Year | |
| 1-3 Years | |
| 3-5 Years | |
| 5-7 Years | |
| 7-9 Years | |
| 9-12 Years | |
| 12-15 Years | |
| 15-18 Years | |
| 18-25 Years | |
| 25-30 Years | |
| 30+ Years |
The Fund's portfolio is actively managed and is subject to change.
| By State | Assets |
|---|---|
| CA | |
| PR | |
| GU | |
| VI | |
| Other |
The Fund's portfolio is actively managed and is subject to change.
CREDIT QUALITY DISTRIBUTION as of 02/27/2026
| Rating | Assets |
|---|---|
| AAA | |
| AA | |
| A | |
| BBB | |
| < BBB | |
| Not Rated |
Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.
Portfolio Details as of 02/27/2026
- Total Net Assets
- $708.24 M
- Average Effective Duration
- 9.54 Years
- Average Effective Maturity
- 20.7 Years
- Average Yield to Worst
- 4.27%
- Distribution Yield (as of 03/31/2026)
- 2.97%
To view definitions for the above Portfolio Details, Click here.
Average Effective Maturity is the weighted average of all the maturities of the securities held in a fund. The maturity of a security is the length of time until final payment is due, or if applicable, an earlier date based on relevant factors such as maturity-shortening devices. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.
Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.
Yield to worst (YTW) refers to the lesser of a bond’s (a) yield-to-maturity or (b) the lowest yield-to-call calculated on each scheduled call date.
| Holdings | Coupon | Maturity | Assets |
|---|
| California State University | 5.500% | 11/01/2055 | 1.2% |
| California Community Choice Financing Authority | 5.250% | 10/01/2031 | 1.2% |
| California Housing Finance Agency | 3.250% | 08/20/2036 | 1.1% |
| California Community Choice Financing Authority | 5.000% | 07/01/2034 | 1.1% |
| San Diego County Regional Airport Authority | 5.500% | 07/01/2055 | 1.0% |
| California Community Choice Financing Authority | 5.000% | 12/01/2032 | 1.0% |
| Alameda Corridor Transportation Authority | 5.000% | 10/01/2052 | 0.9% |
| California Health Facilities Financing Authority | 5.000% | 11/01/2047 | 0.9% |
| California Health Facilities Financing Authority | 5.250% | 08/15/2054 | 0.9% |
| California Community Choice Financing Authority | 5.000% | 05/01/2035 | 0.9% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
| Holding | Coupon | Maturity | Assets |
|---|
| California State University | 5.500% | 11/01/2055 | 1.2% |
| California Community Choice Financing Authority | 5.250% | 10/01/2031 | 1.2% |
| California Housing Finance Agency | 3.250% | 08/20/2036 | 1.1% |
| California Community Choice Financing Authority | 5.000% | 07/01/2034 | 1.1% |
| San Diego County Regional Airport Authority | 5.500% | 07/01/2055 | 1.0% |
| California Community Choice Financing Authority | 5.000% | 12/01/2032 | 1.0% |
| Alameda Corridor Transportation Authority | 5.000% | 10/01/2052 | 0.9% |
| California Health Facilities Financing Authority | 5.000% | 11/01/2047 | 0.9% |
| California Health Facilities Financing Authority | 5.250% | 08/15/2054 | 0.9% |
| California Community Choice Financing Authority | 5.000% | 05/01/2035 | 0.9% |
| California Community Choice Financing Authority | 5.000% | 09/01/2032 | 0.9% |
| City of Los Angeles Department of Airports | 5.250% | 05/15/2051 | 0.9% |
| Central Valley Energy Authority | 5.000% | 08/01/2035 | 0.9% |
| Norman Y Mineta San Jose International Airport SJC | 4.000% | 03/01/2042 | 0.8% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.500% | 05/01/2055 | 0.8% |
| Tender Option Bond Trust Receipts/Certificates | 10.585% | 10/02/2054 | 0.8% |
| City of Los Angeles Department of Airports | 5.500% | 05/15/2055 | 0.8% |
| Tobacco Securitization Authority of Southern California | 5.000% | 06/01/2048 | 0.8% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.500% | 05/01/2055 | 0.8% |
| City of Fresno CA Airport Revenue | 5.000% | 07/01/2048 | 0.8% |
| San Diego Community College District | 5.000% | 08/01/2055 | 0.8% |
| California Educational Facilities Authority | 5.000% | 10/01/2055 | 0.7% |
| Los Angeles Department of Water & Power Water System Revenue | 5.000% | 07/01/2055 | 0.7% |
| California Community Choice Financing Authority | 5.500% | 11/01/2028 | 0.7% |
| San Diego County Regional Airport Authority | 5.250% | 07/01/2045 | 0.7% |
| California Community Choice Financing Authority | 5.000% | 11/01/2035 | 0.7% |
| Los Angeles Department of Water & Power | 5.000% | 07/01/2035 | 0.7% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 4.750% | 07/01/2053 | 0.7% |
| California Community Choice Financing Authority | 5.000% | 03/01/2036 | 0.7% |
| California Health Facilities Financing Authority | 5.000% | 12/01/2054 | 0.6% |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign | 5.250% | 07/01/2054 | 0.6% |
| San Joaquin Hills Transportation Corridor Agency | 4.000% | 01/15/2050 | 0.6% |
| City of Los Angeles Department of Airports | 4.000% | 05/15/2041 | 0.6% |
| California Enterprise Development Authority | 5.000% | 09/06/2042 | 0.6% |
| California State University | 5.250% | 11/01/2050 | 0.6% |
| California School Finance Authority | 5.000% | 07/01/2047 | 0.6% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 4.000% | 05/01/2052 | 0.6% |
| California Pollution Control Financing Authority | 5.000% | 11/21/2045 | 0.6% |
| San Diego Public Facilities Financing Authority | 5.250% | 10/15/2052 | 0.6% |
| State of California | 5.000% | 03/01/2055 | 0.6% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 4.329% | 07/01/2040 | 0.6% |
| California Health Facilities Financing Authority | 5.000% | 11/01/2054 | 0.6% |
| San Diego Public Facilities Financing Authority | 5.000% | 10/15/2054 | 0.6% |
| California Municipal Finance Authority | 4.000% | 12/31/2047 | 0.6% |
| Alvord Unified School District | 5.000% | 08/01/2052 | 0.6% |
| California Municipal Finance Authority | 5.250% | 06/01/2053 | 0.6% |
| California Community Choice Financing Authority | 4.000% | 08/01/2031 | 0.6% |
| California Statewide Communities Development Authority | 5.250% | 12/01/2054 | 0.6% |
| Novato Unified School District/CA | 3.000% | 08/01/2044 | 0.6% |
| Southern California Public Power Authority | 5.000% | 11/01/2033 | 0.6% |
| California Municipal Finance Authority | 4.000% | 07/15/2029 | 0.6% |
| State of California | 5.500% | 08/01/2054 | 0.6% |
| Santa Barbara Community College District | 6.000% | 08/01/2055 | 0.6% |
| California Pollution Control Financing Authority | 5.000% | 11/21/2045 | 0.6% |
| California Educational Facilities Authority | 5.000% | 11/01/2055 | 0.6% |
| Indio Electric Financing Authority | 5.250% | 01/01/2053 | 0.6% |
| San Joaquin Hills Transportation Corridor Agency | 4.000% | 01/15/2044 | 0.5% |
| San Diego Unified School District/CA | 3.000% | 07/01/2044 | 0.5% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.250% | 05/01/2049 | 0.5% |
| County of Sacramento CA Airport System Revenue | 5.250% | 07/01/2054 | 0.5% |
| California Health Facilities Financing Authority | 3.000% | 10/01/2041 | 0.5% |
| Sunnyvale School District | 5.000% | 09/01/2056 | 0.5% |
| Palomar Health | 5.000% | 11/01/2039 | 0.5% |
| Los Angeles Department of Water & Power | 5.000% | 07/01/2053 | 0.5% |
| Bay Area Toll Authority | 5.000% | 04/01/2044 | 0.5% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.000% | 05/01/2042 | 0.5% |
| California Municipal Finance Authority | 5.000% | 12/31/2043 | 0.5% |
| Palomar Health | 5.000% | 11/01/2036 | 0.5% |
| California Health Facilities Financing Authority | 3.000% | 08/15/2051 | 0.5% |
| California Health Facilities Financing Authority | 5.250% | 10/01/2035 | 0.5% |
| California Enterprise Development Authority | 5.000% | 08/01/2040 | 0.5% |
| Southern California Public Power Authority | 5.250% | 07/01/2053 | 0.5% |
| Regents of the University of California Medical Center Pooled Revenue | 3.500% | 05/15/2054 | 0.5% |
| California Community Choice Financing Authority | 5.000% | 11/01/2032 | 0.5% |
| California Statewide Communities Development Authority | 5.000% | 09/02/2056 | 0.5% |
| California Health Facilities Financing Authority | 5.250% | 02/01/2048 | 0.5% |
| Las Virgenes Unified School District | 5.250% | 08/01/2051 | 0.5% |
| State of California | 5.250% | 09/01/2053 | 0.5% |
| California Community Choice Financing Authority | 5.000% | 10/01/2032 | 0.5% |
| City of Irvine CA | 5.250% | 09/01/2053 | 0.5% |
| San Francisco City & County Public Utilities Commission Wastewater Revenue | 5.000% | 10/01/2054 | 0.5% |
| Tender Option Bond Trust Receipts/Certificates | 11.180% | 07/02/2055 | 0.4% |
| California Municipal Finance Authority | 5.000% | 05/15/2037 | 0.4% |
| California Statewide Communities Development Authority | 5.000% | 05/15/2035 | 0.4% |
| California Statewide Communities Development Authority | 5.000% | 09/02/2054 | 0.4% |
| Rincon Valley Union School District | 5.000% | 08/01/2054 | 0.4% |
| California Municipal Finance Authority | 5.000% | 05/27/2042 | 0.4% |
| California Municipal Finance Authority | 4.217% | 11/20/2040 | 0.4% |
| California Educational Facilities Authority | 5.000% | 11/01/2053 | 0.4% |
| Foothill-Eastern Transportation Corridor Agency | 3.500% | 01/15/2053 | 0.4% |
| River Islands Public Financing Authority | 5.000% | 09/01/2055 | 0.4% |
| California Municipal Finance Authority | 3.000% | 11/01/2048 | 0.4% |
| California Enterprise Development Authority | 5.000% | 06/01/2049 | 0.4% |
| California Health Facilities Financing Authority | 3.000% | 11/01/2038 | 0.4% |
| California Infrastructure & Economic Development Bank | 5.000% | 11/01/2049 | 0.4% |
| California Municipal Finance Authority | 5.000% | 06/16/2046 | 0.4% |
| Pajaro Valley Health Care District | 5.000% | 09/01/2046 | 0.4% |
| Foothill-Eastern Transportation Corridor Agency | 3.950% | 01/15/2053 | 0.4% |
| Golden State Tobacco Securitization Corp | 5.000% | 06/01/2051 | 0.4% |
| State of California | 5.250% | 08/01/2055 | 0.4% |
| City of Los Angeles Department of Airports | 4.000% | 05/15/2051 | 0.4% |
| San Diego County Regional Airport Authority | 5.250% | 07/01/2055 | 0.4% |
| San Diego Public Facilities Financing Authority | 5.250% | 10/15/2055 | 0.4% |
| California Community Choice Financing Authority | 5.000% | 03/01/2031 | 0.4% |
| Bay Area Toll Authority | 5.000% | 10/01/2033 | 0.4% |
| California Statewide Communities Development Authority | 5.500% | 12/01/2058 | 0.4% |
| State of California | 5.000% | 11/01/2055 | 0.4% |
| University of California | 5.000% | 05/15/2053 | 0.4% |
| Redlands Unified School District | 5.000% | 07/01/2054 | 0.4% |
| San Leandro Unified School District | 5.000% | 08/01/2052 | 0.4% |
| California State University | 4.625% | 11/01/2056 | 0.4% |
| California Infrastructure & Economic Development Bank | 5.250% | 07/01/2049 | 0.4% |
| California Infrastructure & Economic Development Bank | 4.000% | 07/01/2050 | 0.4% |
| Foothill-Eastern Transportation Corridor Agency | 3.950% | 01/15/2053 | 0.4% |
| California Health Facilities Financing Authority | 3.000% | 10/01/2047 | 0.3% |
| California Health Facilities Financing Authority | 5.000% | 10/01/2044 | 0.3% |
| Tender Option Bond Trust Receipts/Certificates | 24.393% | 05/02/2055 | 0.3% |
| California Statewide Communities Development Authority | 5.000% | 12/01/2041 | 0.3% |
| California Statewide Communities Development Authority | 5.000% | 12/01/2026 | 0.3% |
| California Health Facilities Financing Authority | 5.000% | 11/15/2038 | 0.3% |
| Tender Option Bond Trust Receipts/Certificates | 11.299% | 05/16/2059 | 0.3% |
| City of Los Angeles Department of Airports | 4.000% | 05/15/2049 | 0.3% |
| California Municipal Finance Authority | 5.000% | 09/19/2047 | 0.3% |
| California Statewide Communities Development Authority | 5.000% | 09/02/2051 | 0.3% |
| California State University | 3.000% | 11/01/2051 | 0.3% |
| California Statewide Financing Authority | 0.000% | 06/01/2046 | 0.3% |
| Dublin Unified School District | 3.000% | 08/01/2041 | 0.3% |
| Brentwood Union School District | 5.250% | 08/01/2052 | 0.3% |
| California Statewide Communities Development Authority | 5.500% | 12/01/2054 | 0.3% |
| Los Angeles County Public Works Financing Authority | 5.500% | 12/01/2054 | 0.3% |
| Washington Township Health Care District | 5.750% | 07/01/2053 | 0.3% |
| Los Angeles County Public Works Financing Authority | 5.500% | 12/01/2053 | 0.3% |
| City of Los Angeles Department of Airports | 5.250% | 05/15/2045 | 0.3% |
| California School Finance Authority | 5.000% | 07/01/2045 | 0.3% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.750% | 05/01/2048 | 0.3% |
| San Francisco Bay Area Rapid Transit District Sales Tax Revenue | 3.000% | 07/01/2044 | 0.3% |
| Southwestern Community College District | 5.250% | 08/01/2055 | 0.3% |
| Montebello Unified School District | 5.500% | 08/01/2047 | 0.3% |
| California Statewide Communities Development Authority | 5.250% | 12/01/2034 | 0.3% |
| California State Public Works Board | 5.000% | 04/01/2050 | 0.3% |
| Pajaro Valley Health Care District | 5.000% | 09/01/2054 | 0.3% |
| Ravenswood City School District/CA | 5.250% | 08/01/2053 | 0.3% |
| California State Public Works Board | 4.000% | 11/01/2046 | 0.3% |
| City of Los Angeles Department of Airports | 5.250% | 05/15/2048 | 0.3% |
| County of Sacramento CA Airport System Revenue | 5.000% | 07/01/2054 | 0.3% |
| City of Glendale CA Electric Revenue | 5.000% | 02/01/2054 | 0.3% |
| Southern California Public Power Authority | 5.000% | 07/01/2053 | 0.3% |
| California Enterprise Development Authority | 5.000% | 09/06/2048 | 0.3% |
| California Community Choice Financing Authority | 5.000% | 08/01/2029 | 0.3% |
| California Municipal Finance Authority | 5.000% | 09/20/2052 | 0.3% |
| California Public Finance Authority | 5.000% | 11/01/2054 | 0.3% |
| University of California | 5.000% | 11/15/2045 | 0.3% |
| California Educational Facilities Authority | 5.000% | 12/01/2044 | 0.3% |
| California Municipal Finance Authority | 5.000% | 02/01/2037 | 0.3% |
| Fairfield Community Facilities District | 5.000% | 09/01/2054 | 0.3% |
| Santa Monica-Malibu Unified School District | 4.250% | 08/01/2052 | 0.3% |
| Tejon Ranch Public Facilities Finance Authority | 5.000% | 09/01/2054 | 0.3% |
| University of California | 1.000% | 03/02/2026 | 0.3% |
| Irvine Unified School District | 2.250% | 09/01/2049 | 0.3% |
| California State Public Works Board | 4.000% | 05/01/2046 | 0.3% |
| Norman Y Mineta San Jose International Airport SJC | 5.000% | 03/01/2031 | 0.3% |
| California Municipal Finance Authority | 5.900% | 06/15/2044 | 0.3% |
| Matching Fund Special Purpose Securitization Corp | 5.000% | 10/01/2026 | 0.3% |
| North Orange County Community College District/CA | 2.750% | 08/01/2036 | 0.3% |
| California Health Facilities Financing Authority | 2.125% | 11/01/2041 | 0.3% |
| Compton Community Redevelopment Agency Successor Agency | 5.000% | 08/01/2037 | 0.3% |
| Commonwealth of Puerto Rico | 4.000% | 07/01/2046 | 0.3% |
| Silicon Valley Tobacco Securitization Authority | 0.000% | 06/01/2041 | 0.3% |
| California Municipal Finance Authority | 3.000% | 06/05/2049 | 0.3% |
| California Public Finance Authority | 6.375% | 06/01/2057 | 0.3% |
| Peralta Community College District | 5.000% | 08/01/2054 | 0.3% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.000% | 01/01/2038 | 0.3% |
| Los Angeles Unified School District/CA | 5.250% | 07/01/2049 | 0.3% |
| Washington Township Health Care District | 5.250% | 08/01/2048 | 0.3% |
| California Municipal Finance Authority | 5.000% | 12/31/2034 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 12/01/2035 | 0.2% |
| California Enterprise Development Authority | 5.000% | 09/06/2038 | 0.2% |
| California Municipal Finance Authority | 4.217% | 11/20/2040 | 0.2% |
| River Islands Public Financing Authority | 5.000% | 09/01/2048 | 0.2% |
| Guam Government Waterworks Authority | 5.000% | 07/01/2042 | 0.2% |
| Santa Clarita Community College District | 5.250% | 08/01/2045 | 0.2% |
| Mt San Antonio Community College District | 5.250% | 08/01/2055 | 0.2% |
| University of California | 5.250% | 05/15/2055 | 0.2% |
| El Rancho Unified School District | 5.750% | 08/01/2048 | 0.2% |
| California Municipal Finance Authority | 3.875% | 03/01/2034 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 12/01/2044 | 0.2% |
| California Municipal Finance Authority | 5.000% | 07/01/2036 | 0.2% |
| Golden State Tobacco Securitization Corp | 0.000% | 06/01/2066 | 0.2% |
| California Infrastructure & Economic Development Bank | 5.000% | 11/01/2059 | 0.2% |
| California Infrastructure & Economic Development Bank | 5.000% | 11/01/2054 | 0.2% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 5.000% | 05/01/2039 | 0.2% |
| County of Los Angeles CA Community Facilities District No 2021-01 | 5.000% | 09/01/2052 | 0.2% |
| Irvine Ranch Water District | 1.000% | 03/02/2026 | 0.2% |
| California Municipal Finance Authority | 5.000% | 04/01/2044 | 0.2% |
| California Health Facilities Financing Authority | 5.000% | 10/01/2030 | 0.2% |
| California Infrastructure & Economic Development Bank | 12.000% | 11/02/2026 | 0.2% |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign | 5.250% | 07/01/2049 | 0.2% |
| Orange County Community Facilities District | 5.500% | 08/15/2053 | 0.2% |
| San Joaquin Hills Transportation Corridor Agency | 5.250% | 01/15/2044 | 0.2% |
| Port Commission of the City & County of San Francisco | 5.000% | 03/01/2030 | 0.2% |
| City of Fontana CA | 5.000% | 09/01/2054 | 0.2% |
| Los Angeles Department of Water & Power Water System Revenue | 5.000% | 07/01/2034 | 0.2% |
| California Statewide Communities Development Authority | 5.250% | 12/01/2048 | 0.2% |
| CSCDA Community Improvement Authority | 3.000% | 06/11/2047 | 0.2% |
| City of Long Beach CA Airport System Revenue | 5.250% | 06/01/2047 | 0.2% |
| Los Angeles Department of Water & Power Water System Revenue | 5.000% | 07/01/2035 | 0.2% |
| State of California | 5.250% | 08/01/2054 | 0.2% |
| Bay Area Toll Authority | 5.000% | 04/01/2045 | 0.2% |
| Inland Valley Development Agency | 5.250% | 09/01/2037 | 0.2% |
| Alameda Corridor Transportation Authority | 0.000% | 10/01/2053 | 0.2% |
| Santa Monica-Malibu Unified School District | 3.000% | 08/01/2044 | 0.2% |
| San Benito High School District | 0.000% | 08/01/2043 | 0.2% |
| City of Los Angeles Department of Airports | 5.500% | 05/15/2036 | 0.2% |
| Foothill-Eastern Transportation Corridor Agency | 0.000% | 01/15/2033 | 0.2% |
| California Municipal Finance Authority | 5.000% | 12/31/2035 | 0.2% |
| San Joaquin Hills Transportation Corridor Agency | 5.250% | 01/15/2049 | 0.2% |
| Pomona Unified School District | 5.000% | 08/01/2050 | 0.2% |
| California Educational Facilities Authority | 4.000% | 12/01/2037 | 0.2% |
| California Educational Facilities Authority | 5.000% | 04/01/2045 | 0.2% |
| Transbay Joint Powers Authority | 5.000% | 10/01/2032 | 0.2% |
| California Pollution Control Financing Authority | 5.000% | 11/21/2045 | 0.2% |
| State of California | 5.000% | 03/01/2044 | 0.2% |
| California Educational Facilities Authority | 5.000% | 04/01/2044 | 0.2% |
| Guam Government Waterworks Authority | 5.500% | 07/01/2044 | 0.2% |
| California Enterprise Development Authority | 5.000% | 09/06/2053 | 0.2% |
| CSCDA Community Improvement Authority | 3.000% | 09/26/2036 | 0.2% |
| California State Public Works Board | 5.000% | 04/01/2049 | 0.2% |
| State of California | 5.000% | 09/01/2053 | 0.2% |
| Sacramento Municipal Utility District | 5.000% | 11/15/2054 | 0.2% |
| California Public Finance Authority | 6.750% | 07/01/2065 | 0.2% |
| California Pollution Control Financing Authority | 4.300% | 07/01/2040 | 0.2% |
| California Municipal Finance Authority | 5.750% | 12/01/2055 | 0.1% |
| River Islands Public Financing Authority | 5.250% | 09/01/2052 | 0.1% |
| California Public Finance Authority | 6.625% | 06/01/2065 | 0.1% |
| San Joaquin Hills Transportation Corridor Agency | 0.000% | 01/15/2036 | 0.1% |
| Long Beach Bond Finance Authority | 4.052% | 11/15/2026 | 0.1% |
| City of Fontana CA | 5.000% | 09/01/2049 | 0.1% |
| California School Finance Authority | 5.000% | 08/01/2038 | 0.1% |
| California Municipal Finance Authority | 5.000% | 10/01/2039 | 0.1% |
| California Educational Facilities Authority | 5.000% | 12/01/2048 | 0.1% |
| Antelope Valley Healthcare District | 5.250% | 03/01/2036 | 0.1% |
| River Islands Public Financing Authority | 5.000% | 09/01/2054 | 0.1% |
| California Public Finance Authority | 6.500% | 10/20/2049 | 0.1% |
| California Municipal Finance Authority | 4.217% | 11/20/2040 | 0.1% |
| California Community Housing Agency | 5.000% | 08/01/2050 | 0.1% |
| San Benito High School District | 0.000% | 08/01/2042 | 0.1% |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | 4.000% | 07/01/2047 | 0.1% |
| California Municipal Finance Authority | 4.000% | 02/01/2051 | 0.1% |
| California Statewide Communities Development Authority | 5.000% | 09/02/2046 | 0.1% |
| Southern California Public Power Authority | 4.099% | 11/01/2038 | 0.1% |
| California Municipal Finance Authority | 5.375% | 11/01/2045 | 0.1% |
| Alameda Corridor Transportation Authority | 0.000% | 10/01/2034 | 0.1% |
| Newport Mesa Unified School District | 0.000% | 08/01/2041 | 0.1% |
| M-S-R Energy Authority | 6.500% | 11/01/2039 | 0.1% |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority | 4.000% | 07/01/2042 | 0.1% |
| Transbay Joint Powers Authority | 5.000% | 10/01/2038 | 0.1% |
| Southwestern Community College District | 0.000% | 08/01/2041 | 0.1% |
| California School Finance Authority | 5.000% | 08/01/2045 | 0.1% |
| California Statewide Financing Authority | 0.000% | 06/01/2055 | 0.1% |
| Alameda Corridor Transportation Authority | 0.000% | 10/01/2051 | 0.1% |
| Territory of Guam | 5.250% | 01/01/2037 | 0.1% |
| Antelope Valley Healthcare District | 5.000% | 03/01/2026 | 0.1% |
| California Public Finance Authority | 0.000% | 05/15/2028 | 0.1% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 4.329% | 07/01/2040 | 0.1% |
| Inland Empire Tobacco Securitization Corp | 0.000% | 06/01/2036 | 0.1% |
| California Municipal Finance Authority | 5.000% | 04/26/2044 | 0.1% |
| California Municipal Finance Authority | 5.625% | 03/01/2045 | 0.1% |
| Newport Mesa Unified School District | 0.000% | 08/01/2045 | 0.1% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 0.000% | 07/01/2051 | 0.1% |
| California Municipal Finance Authority | 5.000% | 10/01/2032 | 0.1% |
| Transbay Joint Powers Authority | 5.000% | 10/01/2034 | 0.0% |
| Guam Government Waterworks Authority | 5.500% | 07/01/2043 | 0.0% |
| Transbay Joint Powers Authority | 5.000% | 10/01/2035 | 0.0% |
| Silicon Valley Tobacco Securitization Authority | 0.000% | 06/01/2056 | 0.0% |
| CSCDA Community Improvement Authority | 4.000% | 03/06/2055 | 0.0% |
| Inland Empire Tobacco Securitization Corp | 0.000% | 06/01/2057 | 0.0% |
| Commonwealth of Puerto Rico | 5.750% | 07/01/2031 | 0.0% |
| Commonwealth of Puerto Rico | 0.000% | 11/01/2051 | 0.0% |
| BL Train Holdings West LLC | 0.000% | 11/26/2035 | 0.0% |
| California Municipal Finance Authority | 4.000% | 11/01/2031 | 0.0% |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue | 4.536% | 07/01/2053 | 0.0% |
| USM6 - Futures | 0.000% | 11/17/2043 | 0.0% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 03/31/2026
- $0.05034
- Dividend Frequency
- Monthly (Daily Accrual)
| Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
|---|---|---|---|---|
| Daily | Daily | 03/31/2026 | $0.02449 | $9.90 |
| Daily | Daily | 02/28/2026 | $0.02567 | $10.17 |
| Daily | Daily | 01/31/2026 | $0.02467 | $10.05 |
Upcoming Dividend Payment Dates
This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.
| Record Date | Ex-Dividend Date | Reinvest & Payable Date |
|---|---|---|
| Daily | Daily | 04/30/2026 |
| Daily | Daily | 05/31/2026 |
| Daily | Daily | 06/30/2026 |
| Daily | Daily | 07/31/2026 |
| Daily | Daily | 08/31/2026 |
| Daily | Daily | 09/30/2026 |
| Daily | Daily | 10/31/2026 |
| Daily | Daily | 11/30/2026 |
| Daily | Daily | 12/31/2026 |
Fees & Expenses
Fees & Expenses
Expense Ratioas of 02/28/2026
| Fund Gross Expense Ratio | 1.44% |
| Fund Net Expense Ratio | 1.41% |
Expense ratio details, Click here.
The net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.
Fund Documents
Fund Documents
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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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SAI
Publish Date:11/03/2015
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Annual Financial Statements and Other Information *
Publish Date:11/03/2015
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2025 Annual Tailored Shareholder Report
Publish Date:11/03/2015
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2025 Semi-Annual Tailored Shareholder Report
Publish Date:11/03/2015
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Semi-Annual Financial Statements and Other Information *
Publish Date:11/03/2015
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Fact Sheet
Publish Date:11/03/2015
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