Address And Details

P. O. Box 219078 , Kansas City, MO 64121
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The Fund’s investment objective is to seek tax-free income.Under normal market conditions,and as a fundamental policy,the Fund investsat least 80% of its net assets (plus borrowings for investment purposes) in securities the income from which,in the opinion of counsel to the issuer of each security,is exempt from regular federal individual and,as applicable,the Fund’s state income tax.The policy stated in the foregoing sentence is a fundamental policy of the Fund and may not be changed without shareholder approval of a majority of the Fund’s outstanding voting securities,as defined in the Investment Company Act of 1940,as amended (1940 Act).In complying with this 80% investment requirement,the Fund may invest in derivatives and other instruments that have economic characteristics similar to the Fund’s direct investments that are counted toward the 80% investment requirement.The Fund selects investments without regard to the alternative minimum tax(AMT).Additionally,under normal market conditions,the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in California municipal securities and in derivatives and other instruments that have economic characteristics similar to such securities. These securities are generally issued by the state and its political subdivisions (such as cities,towns,counties,agencies and authorities) and primarily include municipal bonds(long-term (more than one-year) obligations),municipal notes (short-term obligations) and interests in municipal leases.Municipal securities generally are classified as general or revenue obligations.General obligations are secured by the issuer’s pledge of its full faith,credit and taxing power for the payment of principal and interest.Revenue obligations are bonds whose interest is payable only from the revenues derived from a particular facility or class of facilities,or a specific excise tax or other revenue source.The securities in which the Fund invests may also include securities issued by issuers located outside ofCalifornia,such as U.S.territories,common wealths and possessions or by their agencies,instrumentalities and authorities,if the interest on such securities isnot subject to California and federal income tax. These securities are “California municipal securities” for purposes of this prospectus.

Net Asset Value

as of 4:24 PM ET 09/15/2021


  • 1 Week
  • -0.11%
  • 1 Month
  • -0.43%
  • 3 Months
  • -0.54%
  • 1 Yr Return
  • +2.43%
  • 5 Yr Return
  • +7.92%

Equity Sector Breakdown

ConsumerDurables n/a
Energy n/a
Finance n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Bonds 102.01%
Stocks 0.00%
Cash 0.00%
Preferred 0.00%
Convertible 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Other -2.01%
Total Net Assets 663.25 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha 0.10 2.03 1.82
Beta 1.32 1.15 1.30
R Squared 0.94 0.81 0.77
Std Deviation 5.48 5.01 5.35
Sharpe Ratio 1.01 0.94 n/a

Purchase Information

as of 4:54 PM ET 09/14/2021
Minimum Initial $1000
Minimum Additional $50
Minimum Initial IRA $250


Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 05/31/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 05/31/2021
1 Year
  • +6.10%
  • +8.73%
+6.10% +8.73%
3 Year
  • +6.46%
  • +7.07%
+6.46% +7.07%
10 Year
  • +6.99%
  • +7.39%
+6.99% +7.39%
Life Of Fund
  • +7.05%
  • +7.13%
+7.05% +7.13%

Top 10 Holdings

Symbol Company Name % Of Assets

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