CAYCX

About CAYCX

American Century California High-Yield Municipal Fund is a municipal bond mutual fund focused on generating high current income that is generally exempt from both federal and California state income taxes. The fund primarily invests at least 80% of its assets in a diversified portfolio of California municipal securities, many of which are below investment grade, aiming to provide tax-advantaged income to investors residing in California. Its portfolio commonly includes bonds from public infrastructure projects, health care facilities, educational institutions, and various government-backed authorities within the state. The fund is managed with an emphasis on balancing higher yields with the unique credit and interest rate risks associated with California municipal issuers, including sensitivity to the state's economic and political environment. As a key participant in the long-term "Muni California" segment, the American Century California High-Yield Municipal Fund serves investors seeking regular, tax-exempt monthly income and exposure to California's municipal bond market.