SBDAX Performance — California Municipal Bond Fund, Class F
Data updated: 2026-07-29
SBDAX returned −0.65% year to date and +5.46% over one year to May 2026. Annualised returns are +2.98% over 3 years and +0.40% over 5 years. The fund trailed its Intermediate Municipal Bond category average: $100 invested three years ago grew to $109, against $111 for the category, and to $105 over one year, against $106. Volatility over the past three years was 4.66% a year. In the 12 months to May 2026 the fund lost a net $21.3M, and assets reached $221.57M.
SBDAX Growth of $100
What $100 invested in California Municipal Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | SBDAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $105 | $106 |
| 3 years (Jun 2023 – May 2026) | $109 | $111 |
| 5 years (Jun 2021 – May 2026) | $102 | $104 |
| Since data start (Sep 2019 – May 2026) | $105 | $109 |
SBDAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −0.65% |
| 1 year | +5.46% |
| 3 years (annualised) | +2.98% |
| 5 years (annualised) | +0.40% |
SBDAX Annual Returns
Calendar-year total returns of California Municipal Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | −0.65% |
| 2025 | +3.43% |
| 2024 | +4.48% |
| 2023 | +4.78% |
| 2022 | −8.79% |
| 2021 | +1.09% |
| 2020 | +1.31% |
| 2019 (Sep–Dec) | +0.09% |
SBDAX 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 | +1.1% | +0.3% | +0.3% | +0.7% | −2.9% | — | — | — | — | — | — | — |
| 2025 | +0.3% | −1.1% | +0.5% | −0.7% | −1.6% | +1.0% | +0.5% | +1.0% | +0.3% | +0.8% | +1.6% | +1.0% |
| 2024 | −0.3% | +2.2% | −0.9% | −1.1% | −0.3% | +1.0% | +0.9% | +1.2% | +1.3% | −1.5% | +0.9% | +1.1% |
| 2023 | +2.4% | +0.3% | −1.1% | −0.5% | +2.0% | −0.8% | +0.2% | +0.7% | +4.6% | −0.7% | −2.3% | +0.1% |
| 2022 | −3.0% | +0.1% | +1.6% | −2.4% | −2.8% | −1.9% | +2.3% | −0.7% | +3.4% | −0.3% | −3.1% | −2.2% |
| 2021 | +0.4% | +0.3% | 0.0% | +0.6% | +0.4% | −0.1% | +0.7% | +0.1% | +0.4% | −0.2% | −0.9% | −0.4% |
| 2020 | +1.6% | +0.3% | +3.3% | −0.9% | −3.9% | −0.3% | +1.6% | +0.8% | +1.0% | −0.3% | −0.1% | −1.6% |
| 2019 | — | — | — | — | — | — | — | — | +0.1% | +0.1% | −0.9% | +0.8% |
SBDAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.66%
- 3-year Sharpe ratio: -0.33 (vs 4.5% risk-free rate)
- Best month: +4.59% (Sep 2023)
- Worst month: −2.92% (May 2026)
SBDAX Fund Flows
Monthly money in and out of California Municipal Bond Fund, from SEC Form N-PORT.
- 12-month net flow: −$21.3M
- 12-month gross sales (incl. reinvestments): $25.0M
- Sales ÷ redemptions: 0.54×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $1.1M | $2.6M | −$1.5M |
| Apr 2026 | $6.2M | $3.8M | $2.4M |
| Mar 2026 | $790K | $2.6M | −$1.8M |
| Feb 2026 | $1.9M | $4.1M | −$2.3M |
| Jan 2026 | $1.7M | $4.0M | −$2.4M |
| Dec 2025 | $2.9M | $3.0M | −$121K |
| Nov 2025 | $1.4M | $3.6M | −$2.2M |
| Oct 2025 | $2.5M | $7.5M | −$5.0M |
| Sep 2025 | $2.0M | $3.0M | −$971K |
| Aug 2025 | $1.1M | $3.0M | −$1.9M |
| Jul 2025 | $2.5M | $3.4M | −$968K |
| Jun 2025 | $1.0M | $5.6M | −$4.6M |
SBDAX Assets Under Management
Net assets of California Municipal Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $221.57M |
| 2026-02-28 | $228.38M |
| 2025-11-30 | $229.02M |
| 2025-08-31 | $232.39M |
| 2025-05-31 | $235.37M |
| 2025-02-28 | $262.44M |
| 2024-11-30 | $269.48M |
| 2024-08-31 | $239.32M |
| 2024-05-31 | $233.13M |
| 2024-02-29 | $244.67M |
| 2023-11-30 | $242.31M |
| 2023-08-31 | $250.95M |
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.