About FVCAX
Franklin California High Yield Municipal Fund Advisor Class is a mutual fund focused on generating a high level of tax-exempt income for its investors. Its primary objective is to provide income that is exempt from both regular federal and California state personal income taxes, making it particularly attractive to California residents seeking tax-advantaged income. The fund predominantly invests in municipal securities issued within California, with at least 80% of assets allocated to bonds whose interest payments meet these tax-exempt criteria.
The fund’s portfolio emphasizes higher-yielding, lower-rated municipal bonds, which typically offer greater income potential in exchange for higher credit risk. It is diversified across a range of sectors such as special tax, housing, education, transportation, health care, and utilities. As of the latest data, the vast majority of its assets are invested in California-based issuers, with smaller allocations to municipalities in Puerto Rico, Arizona, and a few other U.S. territories.
Franklin California High Yield Municipal Fund Advisor Class plays a significant role in the market by catering to income-oriented investors with a high risk tolerance who are interested in state-specific, tax-efficient municipal bond exposure.
Fund Family Franklin Templeton Investments
Category Muni California Long
Performance Rating High
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol FVCAX
Share Class Advisor Class
Index Bloomberg California TaxExempt Muni Bd TR
FVCAX had a total return of 6.67% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.94%.
