FVCAX — Franklin California High Yield Municipal Fund
Data updated: 2026-07-27
FVCAX — Franklin California High Yield Municipal Fund data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Long Corporate Bond · $3.29B AUM · 0.56% expense ratio · 4.0% 1-yr return. From SEC regulatory filings.
FVCAX Fund Overview
FVCAX — Franklin California High Yield Municipal Fund is a US mutual fund managed by Franklin Municipal Securities Trust, categorised as Long Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Franklin Municipal Securities Trust
- Category: Long Corporate Bond
- Assets under management: $3.29B
- 1-year return: 4.0%
- Ticker: FVCAX
- SEC CIK: 0000881309
- SEC series ID: S000006860
- Share class ID: C000040036
FVCAX Holdings
Top 10 holdings of Franklin California High Yield Municipal Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| San Joaquin Hills Transportation Corridor Agency | 1.27% |
| Grand Canyon University | 1.24% |
| M-S-R Energy Authority | 1.21% |
| Foothill-Eastern Transportation Corridor Agency | 1.21% |
| California Statewide Communities Development Authority | 1.09% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 1.06% |
| Los Angeles Housing Authority | 0.98% |
| CMFA Special Finance Agency | 0.86% |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.84% |
| San Diego Unified School District | 0.79% |
FVCAX Portfolio Allocation
Asset-class allocation of Franklin California High Yield Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 98.7% |
| Securitized | 0.6% |
| Cash & Equivalents | 0.2% |
FVCAX Performance
Total returns for FVCAX (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.1% |
| 1 year | 4.0% |
| 3 years (annualised) | 5.0% |
| 5 years (annualised) | 1.3% |
FVCAX Risk Information
Risk metrics for FVCAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.6%
FVCAX Costs and Fees
FVCAX costs about $56 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.56%
- Gross expense ratio: 0.56%
- Portfolio turnover: 14%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FVCAX Cashflows
Over the 12 months to 2026-02, Franklin California High Yield Municipal Fund had net inflows of $262.67M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-02 | $47.72M |
| 2026-01 | $57.34M |
| 2025-12 | $4.01M |
| 2025-11 | $18.83M |
| 2025-10 | $35.48M |
| 2025-09 | $29.66M |
FVCAX Debt Constituents
Largest debt holdings of Franklin California High Yield Municipal Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| San Joaquin Hills Transportation Corridor Agency | 1.27% |
| Grand Canyon University | 1.24% |
| M-S-R Energy Authority | 1.21% |
| Foothill-Eastern Transportation Corridor Agency | 1.21% |
| California Statewide Communities Development Authority | 1.09% |
| San Francisco City & County Airport Comm-San Francisco International Airport | 1.06% |
| Los Angeles Housing Authority | 0.98% |
| CMFA Special Finance Agency | 0.86% |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.84% |
| San Diego Unified School District | 0.79% |
FVCAX Prospectus and SEC Filings
Official Franklin California High Yield Municipal Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Long Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.