Nomura Tax-Free California Fund Institutional Class (DCTIX)
| Fund Assets | 288.68M |
| Expense Ratio | 0.55% |
| Min. Investment | $1,000 |
| Turnover | 46.00% |
| Dividend (ttm) | 0.45 |
| Dividend Yield | 4.22% |
| Dividend Growth | 7.09% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Mar 31, 2026 |
| Previous Close | 10.73 |
| YTD Return | -0.25% |
| 1-Year Return | 2.08% |
| 5-Year Return | 5.14% |
| 52-Week Low | 10.33 |
| 52-Week High | 11.08 |
| Beta (5Y) | n/a |
| Holdings | 198 |
| Inception Date | Dec 31, 2013 |
About DCTIX
Macquarie Tax-Free California Fund Institutional Class is a municipal bond mutual fund designed to provide investors with a high level of current income that is exempt from both federal and California state personal income taxes. As an actively managed fund, it primarily invests in a diversified portfolio of investment-grade California municipal bonds, though it has flexibility to allocate up to 20% of its assets to bonds of below investment grade if warranted by market conditions. The fund emphasizes capital preservation alongside income generation, making it suitable for institutional investors seeking tax-advantaged income streams. It distributes dividends monthly, with capital gains offered annually, reflecting its focus on stable, consistent returns. The fund’s portfolio is managed by Macquarie Asset Management, leveraging their expertise in fixed income and municipal securities. Over time, this share class has demonstrated strong relative performance compared to its category averages, underlining its role as a significant tax-exempt investment vehicle for those with California tax exposure and institutional needs.
Performance
DCTIX had a total return of 2.08% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.57%.
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 Municipal Income Fund - Class A | 0.76% |
| FCTFX | Fidelity | Fidelity California Municipal Income Fund | 0.43% |
| FIJBX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class Z | 0.40% |
| FCMQX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class I | 0.53% |
| FCMTX | Fidelity | Fidelity Advisor California Municipal Income Fund - Class M | 0.67% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Mar 31, 2026 | $0.0392 | Mar 31, 2026 |
| Feb 27, 2026 | $0.0354 | Feb 27, 2026 |
| Jan 30, 2026 | $0.0391 | Jan 30, 2026 |
| Dec 31, 2025 | $0.040 | Dec 31, 2025 |
| Nov 28, 2025 | $0.0377 | Nov 28, 2025 |
| Oct 31, 2025 | $0.038 | Oct 31, 2025 |