EXCAX

About EXCAX

American Funds Tax-Exempt Fund of California F-3 is a municipal bond mutual fund focused on delivering a high level of current income that is exempt from both federal and California state income taxes. The fund primarily invests in investment-grade municipal bonds issued by the state of California and its various municipalities and agencies. Its secondary objective is the preservation of capital, making it oriented toward risk-averse investors seeking consistent, tax-advantaged income. The portfolio is well diversified, typically holding hundreds of securities, and emphasizes higher quality bonds to reduce credit risk. The fund is structured for California residents and is managed by a seasoned team using a research-driven approach. Monthly dividend distributions and a below-average expense ratio further support the fund’s appeal, while its performance is measured against indexes such as the Bloomberg California Municipal Index. As a significant participant in the "Muni California Long" category, this fund provides an important option for investors seeking tax-exempt income within the state’s municipal bond sector.