CAYCX Performance — California High-Yield Municipal Fund, C Class
Data updated: 2026-07-29
CAYCX returned +1.48% year to date and +6.36% over one year to May 2026. Annualised returns are +3.28% over 3 years and −0.38% over 5 years. The fund trailed its High Yield Bond category average: $100 invested three years ago grew to $110, against $126 for the category, and to $106 over one year, against $107. Volatility over the past three years was 6.87% a year. In the 12 months to May 2026 the fund took in a net $5.8M, and assets reached $1.64B.
CAYCX Growth of $100
What $100 invested in California High-Yield Municipal Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the High Yield Bond category average over the same months.
| Period | CAYCX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $107 |
| 3 years (Jun 2023 – May 2026) | $110 | $126 |
| 5 years (Jun 2021 – May 2026) | $98 | $120 |
| Since data start (Sep 2019 – May 2026) | $103 | $132 |
CAYCX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.48% |
| 1 year | +6.36% |
| 3 years (annualised) | +3.28% |
| 5 years (annualised) | −0.38% |
CAYCX Annual Returns
Calendar-year total returns of California High-Yield Municipal Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.48% |
| 2025 | +1.73% |
| 2024 | +2.37% |
| 2023 | +5.61% |
| 2022 | −12.90% |
| 2021 | +3.00% |
| 2020 | +2.89% |
| 2019 (Sep–Dec) | −0.11% |
CAYCX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.5% | +1.4% | −2.1% | +1.2% | +0.6% | — | — | — | — | — | — | — |
| 2025 | −0.1% | +1.0% | −1.9% | −1.0% | −0.9% | +0.4% | −1.1% | +0.7% | +3.3% | +1.4% | +0.4% | −0.2% |
| 2024 | 0.0% | +0.1% | +0.2% | −1.4% | +0.3% | +2.0% | +0.7% | +0.7% | +1.1% | −1.5% | +1.6% | −1.7% |
| 2023 | +3.4% | −2.6% | +1.7% | −0.1% | −0.9% | +0.9% | +0.2% | −1.5% | −3.5% | −2.5% | +8.1% | +3.0% |
| 2022 | −2.8% | −0.7% | −3.4% | −3.9% | +1.0% | −3.3% | +3.4% | −2.3% | −5.0% | −1.9% | +5.9% | −0.2% |
| 2021 | +1.0% | −1.3% | +0.6% | +1.2% | +0.7% | +0.5% | +1.0% | −0.5% | −1.0% | −0.1% | +1.0% | 0.0% |
| 2020 | +1.8% | +1.7% | −7.4% | −3.0% | +3.5% | +2.2% | +1.9% | −0.2% | +0.3% | −0.1% | +1.7% | +1.0% |
| 2019 | — | — | — | — | — | — | — | — | −0.5% | +0.1% | 0.0% | +0.4% |
CAYCX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 6.87%
- 3-year Sharpe ratio: -0.18 (vs 4.5% risk-free rate)
- Best month: +8.05% (Nov 2023)
- Worst month: −3.46% (Sep 2023)
CAYCX Fund Flows
Monthly money in and out of California High-Yield Municipal Fund, from SEC Form N-PORT.
- 12-month net flow: $5.8M
- 12-month gross sales (incl. reinvestments): $656.8M
- Sales ÷ redemptions: 1.01×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $55.7M | $41.6M | $14.1M |
| Apr 2026 | $52.8M | $38.7M | $14.0M |
| Mar 2026 | $59.6M | $66.8M | −$7.2M |
| Feb 2026 | $52.2M | $32.2M | $19.9M |
| Jan 2026 | $66.9M | $49.7M | $17.3M |
| Dec 2025 | $56.0M | $85.2M | −$29.2M |
| Nov 2025 | $36.0M | $43.2M | −$7.2M |
| Oct 2025 | $43.8M | $38.7M | $5.2M |
| Sep 2025 | $57.0M | $40.5M | $16.6M |
| Aug 2025 | $75.2M | $58.8M | $16.4M |
| Jul 2025 | $52.0M | $82.0M | −$30.0M |
| Jun 2025 | $49.6M | $73.7M | −$24.2M |
CAYCX Assets Under Management
Net assets of California High-Yield Municipal Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.64B |
| 2026-02-28 | $1.64B |
| 2025-11-30 | $1.61B |
| 2025-08-31 | $1.53B |
| 2025-05-31 | $1.59B |
| 2025-02-28 | $1.67B |
| 2024-11-30 | $1.66B |
| 2024-08-31 | $1.55B |
| 2024-05-31 | $1.42B |
| 2024-02-29 | $1.38B |
| 2023-11-30 | $1.31B |
| 2023-08-31 | $1.37B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.