MFS California Municipal Bond Fund Class I (MCAVX)
| Fund Assets | 688.29M |
| Expense Ratio | 0.60% |
| Min. Investment | $0.00 |
| Turnover | 10.00% |
| Dividend (ttm) | 0.32 |
| Dividend Yield | 3.69% |
| Dividend Growth | 0.42% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 8.65 |
| YTD Return | -3.76% |
| 1-Year Return | -4.15% |
| 5-Year Return | -2.91% |
| 52-Week Low | 8.48 |
| 52-Week High | 9.28 |
| Beta (5Y) | n/a |
| Holdings | 407 |
| Inception Date | Apr 1, 2016 |
About MCAVX
MFS California Municipal Bond Fund Class I is a mutual fund designed to provide federally and California state tax-exempt income by investing primarily in municipal bonds issued within California. This fund focuses on preserving capital while generating steady monthly income, making it particularly relevant for investors residing in California who are seeking to optimize after-tax returns. The portfolio is highly diversified, typically holding several hundred municipal securities tied to various public infrastructure projects such as education, housing, healthcare, and transportation. The fund aims to maintain reasonable risk while pursuing income through careful sector selection and yield curve positioning. With an expense ratio of 0.60% and no minimum initial investment, it is positioned as an accessible vehicle for institutional investors and those eligible for Class I shares. Its role in the financial market centers on facilitating efficient capital allocation to California municipalities, supporting public projects, and offering investors a means to access double tax-free income when held by in-state residents.
Performance
MCAVX had a total return of -4.15% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.67%.
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% |
Top 10 Holdings
9.17% of assets| Name | Symbol | Weight |
|---|---|---|
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 08.01.2055 | 1.39% |
| LOS ANGELES CALIF HSG AUTH MULTIFAMILY HSG REV 4.5% | CA.LOSMFH 4.5 12.01.2059 | 1.14% |
| OAKLAND CALIF UNI SCH DIST ALAMEDA CNTY 5.25% | CA.OAKSCD 5.25 08.01.2048 | 1.09% |
| CALIFORNIA HEALTH FACS FING AUTH REV 5% | CA.CASMED 5 12.01.2054 | 0.82% |
| MOUNTAIN VIEW-WHISMAN CALIF SCH DIST 4.25% | CA.MOUSCD 4.25 09.01.2045 | 0.82% |
| CALIFORNIA ST DEPT VET AFFAIRS HOME PUR REV 4.3% | CA.CASHSG 4.3 12.01.2054 | 0.80% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 01.01.2056 | 0.79% |
| OAKLAND CALIF 5.5% | CA.OAK 5.5 07.15.2053 | 0.79% |
| CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5% | CA.CCEDEV 12.01.2053 | 0.77% |
| SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.75% | CA.SFOAPT 5.75 05.01.2048 | 0.77% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 31, 2025 | $0.02705 | Aug 1, 2025 |
| Jun 30, 2025 | $0.02664 | Jul 1, 2025 |
| May 30, 2025 | $0.02727 | Jun 2, 2025 |
| Apr 30, 2025 | $0.02636 | May 1, 2025 |
| Mar 31, 2025 | $0.02693 | Apr 1, 2025 |
| Feb 28, 2025 | $0.02439 | Mar 3, 2025 |