Nomura Tax-Free California Institutional (DCTIX)

NASDAQ · Mutual Fund · Delayed Price · Currency is USD

10.14

+0.11 (1.10%)

At close: Oct 15, 2026

Fund Assets	226.92M
Expense Ratio	0.55%
Min. Investment	$1,000
Turnover	46.00%
Dividend (ttm)	0.46
Dividend Yield	4.57%
Dividend Growth	6.51%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 30, 2026

Previous Close	10.03
YTD Return	-4.45%
1-Year Return	-3.96%
5-Year Return	-1.35%
52-Week Low	9.93
52-Week High	11.02
Beta (5Y)	0.10
Holdings	197
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.

Fund Family Nomura

Category Muni California Long

Performance Rating High

Risk Rating High

Stock Exchange Nasdaq

Ticker Symbol DCTIX

Share Class Institutional Class

Index Bloomberg Municipal Bond TR

Performance

DCTIX had a total return of -3.96% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.08%.

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	0.74%
FCTFX	Fidelity	Fidelity California Municipal Income Fund	0.43%
FIJBX	Fidelity	Fidelity Advisor California Muni Inc Z	0.41%
FCMQX	Fidelity	Fidelity Advisor California Muni Inc I	0.52%
FCMTX	Fidelity	Fidelity Advisor California Muni Inc M	0.66%

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
DVTAX	Class A	0.80%
DVFTX	Class C	1.55%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 30, 2026	$0.03893	Sep 30, 2026
Aug 31, 2026	$0.0381	Aug 31, 2026
Jul 31, 2026	$0.04137	Jul 31, 2026
Jun 30, 2026	$0.0379	Jun 30, 2026
May 29, 2026	$0.03911	May 29, 2026
Apr 30, 2026	$0.0383	Apr 30, 2026

Full Dividend History