MFS California Municipal Bond Fund Class I (MCAVX)

Fund Assets	731.19M
Expense Ratio	0.56%
Min. Investment	$1,000
Turnover	15.00%
Dividend (ttm)	0.33
Dividend Yield	3.95%
Dividend Growth	4.17%
Payout Frequency	Monthly
Ex-Dividend Date	Sep 30, 2026

Previous Close	8.37
YTD Return	-3.31%
1-Year Return	-2.42%
5-Year Return	-3.50%
52-Week Low	8.24
52-Week High	9.15
Beta (5Y)	0.09
Holdings	440
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.

• Fund Family: MFS
• Category: Muni California Long
• Performance Rating: Above Average
• Risk Rating: Above Average
• Stock Exchange: Nasdaq
• Ticker Symbol: MCAVX
• Share Class: I
• Index: Bloomberg Municipal Bond TR

Performance

MCAVX had a total return of -2.42% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.82%.

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
MPOAX	R6	0.50%
MCFTX	A	0.66%
MBCAX	B	1.41%
MCCAX	C	1.56%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 30, 2026	$0.02797	Oct 1, 2026
Aug 31, 2026	$0.02889	Sep 1, 2026
Jul 31, 2026	$0.0288	Aug 3, 2026
Jun 30, 2026	$0.0276	Jul 1, 2026
May 29, 2026	$0.02911	Jun 1, 2026
Apr 30, 2026	$0.02733	May 1, 2026

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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