EXCAX Performance — Tax-Exempt Fund of California, Class F-3
Data updated: 2026-10-14
EXCAX returned +0.49% year to date and +6.00% over one year to Jul 2026. Annualised returns are +3.70% over 3 years and +0.81% over 5 years. The fund beat its Intermediate Municipal Bond category average: $100 invested three years ago grew to $112, against $109 for the category, and to $106 over one year, against $105. Volatility over the past three years was 5.81% a year. In the 12 months to Jul 2026 the fund took in a net $484.1M, and assets reached $3.66B.
EXCAX Growth of $100
What $100 invested in Tax-Exempt Fund of California grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | EXCAX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $106 | $105 |
| 3 years (Aug 2023 – Jul 2026) | $112 | $109 |
| 5 years (Aug 2021 – Jul 2026) | $104 | $102 |
| Since data start (Aug 2019 – Jul 2026) | $113 | $109 |
EXCAX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.49% |
| 1 year | +6.00% |
| 3 years (annualised) | +3.70% |
| 5 years (annualised) | +0.81% |
EXCAX Annual Returns
Calendar-year total returns of Tax-Exempt Fund of California, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +0.49% |
| 2025 | +3.98% |
| 2024 | +2.85% |
| 2023 | +6.56% |
| 2022 | −9.00% |
| 2021 | +2.32% |
| 2020 | +4.70% |
| 2019 (Aug–Dec) | +1.49% |
EXCAX 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% | +1.5% | −2.3% | +1.2% | +0.5% | +0.9% | −1.9% | — | — | — | — | — |
| 2025 | +0.2% | +1.1% | −1.6% | −0.8% | −0.4% | +0.6% | −0.5% | +0.9% | +2.9% | +1.3% | +0.3% | +0.1% |
| 2024 | 0.0% | +0.1% | +0.1% | −1.1% | +0.2% | +1.7% | +0.9% | +0.8% | +1.2% | −1.4% | +1.4% | −1.2% |
| 2023 | +3.0% | −2.2% | +1.8% | −0.1% | −0.7% | +0.7% | +0.3% | −1.1% | −2.6% | −1.5% | +6.6% | +2.6% |
| 2022 | −2.5% | −0.5% | −2.9% | −3.4% | +1.2% | −2.4% | +3.1% | −2.2% | −3.7% | −0.8% | +5.0% | +0.1% |
| 2021 | +0.6% | −1.3% | +0.8% | +0.9% | +0.5% | +0.3% | +0.7% | −0.3% | −0.7% | −0.1% | +0.8% | +0.2% |
| 2020 | +1.8% | +1.4% | −4.1% | −1.8% | +3.2% | +1.0% | +1.7% | −0.4% | +0.1% | −0.2% | +1.6% | +0.6% |
| 2019 | — | — | — | — | — | — | — | +1.7% | −0.6% | +0.1% | +0.1% | +0.2% |
EXCAX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 5.81%
- 3-year Sharpe ratio: -0.14 (vs 4.5% risk-free rate)
- Best month: +6.56% (Nov 2023)
- Worst month: −2.60% (Sep 2023)
EXCAX Fund Flows
Monthly money in and out of Tax-Exempt Fund of California, from SEC Form N-PORT.
- 12-month net flow: $484.1M
- 12-month gross sales (incl. reinvestments): $1.1B
- Sales ÷ redemptions: 1.82×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $66.6M | $37.0M | $29.5M |
| Jun 2026 | $75.1M | $45.7M | $29.3M |
| May 2026 | $78.1M | $50.9M | $27.2M |
| Apr 2026 | $91.8M | $48.4M | $43.4M |
| Mar 2026 | $92.6M | $46.5M | $46.1M |
| Feb 2026 | $74.6M | $33.2M | $41.5M |
| Jan 2026 | $131.5M | $45.0M | $86.5M |
| Dec 2025 | $98.9M | $55.1M | $43.8M |
| Nov 2025 | $72.3M | $37.5M | $34.8M |
| Oct 2025 | $71.5M | $43.5M | $28.0M |
| Sep 2025 | $96.8M | $61.9M | $34.9M |
| Aug 2025 | $123.4M | $84.4M | $39.0M |
EXCAX Assets Under Management
Net assets of Tax-Exempt Fund of California by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $3.66B |
| 2026-04-30 | $3.62B |
| 2026-01-31 | $3.51B |
| 2025-10-31 | $3.35B |
| 2025-07-31 | $3.11B |
| 2025-04-30 | $3.21B |
| 2025-01-31 | $3.19B |
| 2024-10-31 | $3.14B |
| 2024-07-31 | $3.05B |
| 2024-04-30 | $2.89B |
| 2024-01-31 | $2.82B |
| 2023-10-31 | $2.54B |
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.