Lord Abbett California Tax Free C (CALAX)
| Fund Assets | 671.47M |
| Expense Ratio | 1.37% |
| Min. Investment | $1,000 |
| Turnover | 26.00% |
| Dividend (ttm) | 0.28 |
| Dividend Yield | 2.81% |
| Dividend Growth | 4.21% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Sep 30, 2025 |
| Previous Close | 10.06 |
| YTD Return | 0.11% |
| 1-Year Return | -0.47% |
| 5-Year Return | -3.19% |
| 52-Week Low | 9.51 |
| 52-Week High | 10.34 |
| Beta (5Y) | 0.33 |
| Holdings | 272 |
| Inception Date | Jul 15, 1996 |
About CALAX
Lord Abbett California Tax Free Fund Class C is a mutual fund focused on generating tax-exempt income primarily for California residents. The fund invests at least 80% of its net assets in municipal bonds whose interest payments are exempt from both federal and California state income taxes, making it particularly attractive to investors seeking to reduce their tax liabilities from fixed-income investments. The portfolio is broadly diversified, typically holding over 270 individual securities, and emphasizes investment-grade municipal bonds, contributing to risk management within the long-duration muni bond sector. Key features of the fund include monthly dividend distributions, a relatively accessible minimum initial investment requirement of $1,000, and a net expense ratio of 1.37%. Managed by Lord Abbett, the fund aims to strike a balance between income generation and reasonable risk, using the volatility of the Bloomberg Municipal Bond Index as a benchmark for its investment risk profile. The fund supports public infrastructure, local governments, healthcare, education, and utilities via its bond holdings, playing a critical role in financing essential services across the state. Since its inception in July 1996, the fund has positioned itself as a tax-efficient vehicle for fixed-income investors in California.
Performance
CALAX had a total return of -0.47% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.01%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| FCMAX | Fidelity | Fidelity Advisor California Muni Inc A | 0.76% |
| FCTFX | Fidelity | Fidelity California Municipal Income | 0.43% |
| FIJBX | Fidelity | Fidelity Advisor California Muni Inc Z | 0.40% |
| FCMQX | Fidelity | Fidelity Advisor California Muni Inc I | 0.53% |
| FCMTX | Fidelity | Fidelity Advisor California Muni Inc M | 0.67% |
Top 10 Holdings
11.15% of assets| Name | Symbol | Weight |
|---|---|---|
| CALIFORNIA ST UNIV REV 5.5% | CA.CASHGR 5.5 11.01.2055 | 1.35% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25% | CA.CCEDEV 01.01.2054 | 1.26% |
| CALIFORNIA HSG FIN AGY MUN CTFS 3.25% | CA.CASHSG 3.25 08.20.2036 | 1.19% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 10.01.2055 | 1.16% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 01.01.2055 | 1.13% |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% | CA.SFOAPT 5 05.01.2031 | 1.12% |
| ALAMEDA CORRIDOR TRANSN AUTH CALIF REV 5% | CA.ALATRN 5 10.01.2052 | 1.00% |
| CALIFORNIA HEALTH FACS FING AUTH REV 5% | CA.CASMED 5 11.15.2044 | 0.98% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 02.01.2055 | 0.98% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 01.01.2056 | 0.98% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Sep 30, 2025 | $0.02441 | Sep 30, 2025 |
| Aug 29, 2025 | $0.02427 | Aug 29, 2025 |
| Jul 31, 2025 | $0.02391 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02395 | Jun 30, 2025 |
| May 30, 2025 | $0.02343 | May 30, 2025 |
| Apr 30, 2025 | $0.02369 | Apr 30, 2025 |