About TAFTX
American Funds Tax-Exempt Fund of California® Class A is an open-end mutual fund focused on providing a high level of current income that is exempt from both federal and California state income taxes. The fund primarily invests in a diversified portfolio of municipal bonds issued by state and local governments, agencies, and authorities throughout California. Its strategy emphasizes higher quality municipal securities, predominantly revenue bonds and general obligation bonds, aiming to support essential public projects such as infrastructure, clean energy, transportation, and housing. This fund holds over 500 individual securities, reflecting broad diversification within the California municipal market. With a long-standing track record since its inception in 1986, the fund is managed for income-oriented investors—particularly California residents—who seek tax-advantaged income and capital preservation. Monthly income distributions and risk-focused management make it a notable vehicle in the California municipal bond sector, catering to individuals and institutions with state-specific tax considerations and a preference for stability within fixed income markets.
Fund Family Capital Group
Category Muni California Long
Performance Rating Average
Risk Rating Below Average
Stock Exchange Nasdaq
Ticker Symbol TAFTX
Share Class Class A
Index Bloomberg California TaxExempt Muni Bd TR
TAFTX had a total return of -2.65% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.72%.
