DVTAX Performance — Macquarie Tax-Free California Fund, Class A
Data updated: 2026-07-27
DVTAX returned +2.05% year to date and +7.12% over one year to May 2026. Annualised returns are +4.04% over 3 years and +0.61% over 5 years. Against its Long-Term Municipal Bond category average the fund came out ahead over three years but behind over one: $100 invested three years ago grew to $113, against $112 for the category, and to $107 over one year, against $107. Volatility over the past three years was 8.15% a year. In the 12 months to May 2026 the fund lost a net $18.0M, and assets reached $279.83M.
DVTAX Growth of $100
What $100 invested in Macquarie Tax-Free California Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Municipal Bond category average over the same months.
| Period | DVTAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $107 | $107 |
| 3 years (Jun 2023 – May 2026) | $113 | $112 |
| 5 years (Jun 2021 – May 2026) | $103 | $103 |
| Since data start (Sep 2019 – May 2026) | $111 | $109 |
DVTAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +2.05% |
| 1 year | +7.12% |
| 3 years (annualised) | +4.04% |
| 5 years (annualised) | +0.61% |
DVTAX Annual Returns
Calendar-year total returns of Macquarie Tax-Free California Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +2.05% |
| 2025 | +0.85% |
| 2024 | +2.79% |
| 2023 | +9.14% |
| 2022 | −12.33% |
| 2021 | +4.06% |
| 2020 | +5.19% |
| 2019 (Sep–Dec) | −0.15% |
DVTAX 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 | +0.6% | +1.7% | −2.6% | +1.6% | +0.8% | — | — | — | — | — | — | — |
| 2025 | −0.1% | +1.4% | −2.5% | −1.7% | −0.9% | +0.4% | −1.3% | +0.8% | +4.1% | +1.4% | +0.2% | −0.7% |
| 2024 | +0.1% | +0.4% | 0.0% | −1.6% | +0.3% | +2.2% | +0.9% | +0.7% | +1.3% | −1.8% | +1.9% | −1.6% |
| 2023 | +4.1% | −3.4% | +1.9% | +0.7% | −0.7% | +1.5% | +0.2% | −1.9% | −3.8% | −2.5% | +9.5% | +3.9% |
| 2022 | −2.8% | −0.4% | −3.2% | −4.0% | +1.6% | −3.6% | +3.7% | −2.6% | −6.0% | −1.5% | +6.8% | −0.4% |
| 2021 | +0.9% | −1.2% | +0.6% | +1.1% | +0.8% | +0.7% | +0.9% | −0.5% | −0.9% | −0.2% | +1.2% | +0.6% |
| 2020 | +2.1% | +1.8% | −7.2% | −1.5% | +3.1% | +2.6% | +1.8% | −0.5% | 0.0% | 0.0% | +2.2% | +1.2% |
| 2019 | — | — | — | — | — | — | — | — | −0.5% | 0.0% | +0.1% | +0.3% |
DVTAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 8.15%
- 3-year Sharpe ratio: -0.06 (vs 4.5% risk-free rate)
- Best month: +9.48% (Nov 2023)
- Worst month: −3.81% (Sep 2023)
DVTAX Fund Flows
Monthly money in and out of Macquarie Tax-Free California Fund, from SEC Form N-PORT.
- 12-month net flow: −$18.0M
- 12-month gross sales (incl. reinvestments): $107.4M
- Sales ÷ redemptions: 0.86×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $4.0M | $5.6M | −$1.6M |
| Apr 2026 | $5.8M | $4.1M | $1.7M |
| Mar 2026 | $7.8M | $13.2M | −$5.4M |
| Feb 2026 | $10.5M | $5.1M | $5.4M |
| Jan 2026 | $23.0M | $6.7M | $16.3M |
| Dec 2025 | $9.4M | $30.2M | −$20.9M |
| Nov 2025 | $9.0M | $7.3M | $1.7M |
| Oct 2025 | $6.1M | $15.0M | −$9.0M |
| Sep 2025 | $9.5M | $6.0M | $3.6M |
| Aug 2025 | $10.8M | $13.1M | −$2.3M |
| Jul 2025 | $8.1M | $12.6M | −$4.4M |
| Jun 2025 | $3.2M | $6.4M | −$3.2M |
DVTAX Assets Under Management
Net assets of Macquarie Tax-Free California Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-29 | $279.83M |
| 2026-02-27 | $288.68M |
| 2025-11-28 | $286.34M |
| 2025-08-29 | $276.89M |
| 2025-05-30 | $289.80M |
| 2025-02-28 | $320.94M |
| 2024-11-29 | $317.34M |
| 2024-08-30 | $287.11M |
| 2024-05-31 | $255.00M |
| 2024-02-29 | $247.24M |
| 2023-11-30 | $218.61M |
| 2023-08-31 | $203.61M |
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.