NCAAX — Nuveen California Municipal Bond Fund
Data updated: 2026-07-24
NCAAX — Nuveen California Municipal Bond Fund data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. Long Municipal - National Bond · $1.67B AUM · 0.73% expense ratio · 7.5% 1-yr return. From SEC regulatory filings.
NCAAX Fund Overview
NCAAX — Nuveen California Municipal Bond Fund is a US mutual fund managed by Nuveen Multistate Trust II /ma/, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Nuveen Multistate Trust II /ma/
- Category: Long Municipal - National Bond
- Assets under management: $1.67B
- 1-year return: 7.5%
- Ticker: NCAAX
- SEC CIK: 0001018975
- SEC series ID: S000000552
- Share class ID: C000001516
NCAAX Holdings
Top 10 holdings of Nuveen California Municipal Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes, Series 2025 | 2.47% |
| Los Angeles County, California, Tax and Revenue Anticipation Notes, Series 2025-26 | 2.31% |
| Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2020B | 2.01% |
| California Infrastructure and Economic Development Bank, Revenue Bonds, Adventist Health Energy Projects, Series 2024A | 2.00% |
| California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A | 1.92% |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 1.60% |
| Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C | 1.48% |
| Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 1.46% |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-2 | 1.27% |
| California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 1.25% |
NCAAX Portfolio Allocation
Asset-class allocation of Nuveen California Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 97.0% |
NCAAX Performance
Total returns for NCAAX (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.9% |
| 1 year | 7.5% |
| 3 years (annualised) | 3.9% |
| 5 years (annualised) | 0.2% |
NCAAX Risk Information
Risk metrics for NCAAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.8%
NCAAX Costs and Fees
NCAAX costs about $73 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.73%
- Gross expense ratio: 0.73%
- Portfolio turnover: 27%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
NCAAX Cashflows
Over the 12 months to 2026-02, Nuveen California Municipal Bond Fund had net outflows of $29.63M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-02 | $13.41M |
| 2026-01 | $7.33M |
| 2025-12 | −$6.47M |
| 2025-11 | $1.01M |
| 2025-10 | −$17.22M |
| 2025-09 | −$18.15M |
NCAAX Debt Constituents
Largest debt holdings of Nuveen California Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes, Series 2025 | 2.47% |
| Los Angeles County, California, Tax and Revenue Anticipation Notes, Series 2025-26 | 2.31% |
| Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2020B | 2.01% |
| California Infrastructure and Economic Development Bank, Revenue Bonds, Adventist Health Energy Projects, Series 2024A | 2.00% |
| California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health, Series 2020A | 1.92% |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 1.60% |
| Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C | 1.48% |
| Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 1.46% |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-2 | 1.27% |
| California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 1.25% |
NCAAX Prospectus and SEC Filings
Official Nuveen California Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Long Municipal - National 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.