Franklin California High Yield Municipal Fund (FCAQX)
| Fund Assets | 3.05B |
| Expense Ratio | 0.55% |
| Min. Investment | $1,000,000 |
| Turnover | 10.33% |
| Dividend (ttm) | 0.43 |
| Dividend Yield | 4.42% |
| Dividend Growth | 3.29% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Sep 30, 2025 |
| Previous Close | 9.69 |
| YTD Return | 0.01% |
| 1-Year Return | 0.29% |
| 5-Year Return | 4.21% |
| 52-Week Low | 9.30 |
| 52-Week High | 10.07 |
| Beta (5Y) | 0.31 |
| Holdings | 710 |
| Inception Date | Aug 1, 2017 |
About FCAQX
Franklin California High Yield Municipal Fund Class R6 is a mutual fund specializing in high-yield municipal debt securities, with a particular focus on bonds issued within California. Its primary objective is to deliver a substantial level of income that is exempt from both federal and California state personal income taxes, making it especially attractive to residents of California seeking tax-advantaged income solutions. The fund typically allocates at least 80% of its assets to municipal securities of this nature. Notably, this fund carries a higher yield than average peers, reflecting its investments in lower-rated, higher-risk municipal bonds, and holds a diversified portfolio of over 600 securities to manage risk. It features a strong performance rating, but comes with an above-average risk profile due to its emphasis on high-yield, sometimes non-investment grade, municipal issues. Regular monthly distributions and a relatively competitive expense ratio are core features, while its high minimum investment threshold positions it for institutional or high-net-worth investors. Since inception, the fund has played a role in connecting investors with California’s municipal development efforts while offering the benefits of tax-exempt income and diversification.
Performance
FCAQX had a total return of 0.29% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.76%.
Top 10 Holdings
11.86% of assets| Name | Symbol | Weight |
|---|---|---|
| CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5.25% | CA.CASGEN 5.25 12.01.2056 | 1.43% |
| Grand Canyon University 5.125% | GCUNIV.5.125 10.01.28 | 1.40% |
| SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 0% | CA.SJHTRN 0 01.15.2032 | 1.36% |
| M-S-R ENERGY AUTH CALIF GAS REV 6.5% | CA.MSRPWR 6.5 11.01.2039 | 1.32% |
| FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV 0% | CA.FOOTRN 0 01.15.2042 | 1.17% |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% | CA.SFOAPT 5 05.01.2050 | 1.16% |
| PUERTO RICO ELEC PWR AUTH PWR REV | PR.PRCPWR 7.12 07.01.2059 | 1.13% |
| LOS ANGELES CALIF HSG AUTH MULTIFAMILY HSG REV 6% | CA.LOSMFH 6 12.01.2062 | 1.05% |
| SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5.25% | CA.SJHTRN 5.25 01.15.2049 | 0.95% |
| CMFA SPL FIN AGY CALIF ESSENTIAL HSG REV 4.5% | CA.CMFHSG 4.5 08.01.2051 | 0.90% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Sep 30, 2025 | $0.03454 | Sep 30, 2025 |
| Aug 29, 2025 | $0.0381 | Aug 29, 2025 |
| Jul 31, 2025 | $0.03669 | Jul 31, 2025 |
| Jun 30, 2025 | $0.03429 | Jun 30, 2025 |
| May 30, 2025 | $0.03776 | May 30, 2025 |
| Apr 30, 2025 | $0.03536 | Apr 30, 2025 |