14 important things you should know about Invesco CLFAX mutual fund

Updated: June 28, 2020
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Before we start: if you’re looking for CLFAX “stock” price, you can quickly find it out by visiting Finny and typing "CLFAX quote". If you’re looking for a quick scoop on CLFAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "CLFAX". You’ll get all this info in one place.

Are you looking to buy or sell CLFAX? Or perhaps you’re looking for CLFAX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this CLFAX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: CLFAX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: CLFAX buy or sell; the pros and cons of investing in CLFAX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to CLFAX.

And here is the list of questions we’ll answer:

  1. Describe AIM Counselor Series Trust (Invesco Counselor Series Trust): Invesco California Tax-Free Income Fund; Cl A Shs (CLFAX).
  2. What are CLFAX holdings?
  3. What is CLFAX performance? What are CLFAX historical returns?
  4. How many up and down years did CLFAX have historically?
  5. What is CLFAX dividend yield?
  6. What is CLFAX minimum initial investment amount?
  7. What is CLFAX expense ratio?
  8. Does CLFAX have any sales loads or 12b-1 distribution expenses?
  9. What is CLFAX tax efficiency (tax-cost ratio)?
  10. What is CLFAX beta? How would you assess CLFAX risk?
  11. What is CLFAX Sharpe ratio?
  12. What is CLFAX Finny Score? CLFAX buy or sell?
  13. What are the pros of investing in CLFAX? What are CLFAX buy reasons?
  14. What are the cons of investing in CLFAX? What are CLFAX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe AIM Counselor Series Trust (Invesco Counselor Series Trust): Invesco California Tax-Free Income Fund; Cl A Shs (CLFAX).

The Fund seeks to provide a high level of current income exempt from federal and California income tax, consistent with the preservation of capital. The Fund invests, under normal circumstances, at least 80% of its net assets in securities that pay interest exempt from federal and California state income taxes.

2. What are CLFAX top holdings?

CLFAX has 0 stock holdings and 266 bond holdings.

The top 10 holdings represent 10.01% of total assets. Here are the top holdings:

Name Symbol % Assets
SAN BERNARDINO CALIF CMNTY COLLEGE DIST 4% N/A 1.51%
SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5% N/A 1.18%
CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 5% N/A 1.07%
YOSEMITE CALIF CMNTY COLLEGE DIST 0% N/A 0.99%
SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WTR REV 5% N/A 0.97%
IRVINE CALIF UNI SCH DIST SPL TAX 5% N/A 0.90%
GILROY CALIF UNI SCH DIST 0% N/A 0.88%
UNIVERSITY CALIF REVS 0.73% N/A 0.85%
TENDER OPT BD TR RCPTS / CTFS VAR STS 12.29% N/A 0.84%
UNIVERSITY CALIF REVS 5% N/A 0.82%

3. What is CLFAX performance? What are CLFAX historical returns?

CLFAX has generated the following returns:

  • 1-month return is 0.25%;
  • 3-month return is -3.85%;
  • 1-year return is 1.53%;
  • 3-year return is 2.77%;
  • 5-year return is 2.91%;
  • 10-year return is 4.24%;
  • 15-year return is 3.86%.

4. How many up and down years did CLFAX have historically?

In the last 10 years, CLFAX had 7 up years and 3 down years.

5. What is CLFAX dividend yield?

CLFAX yield is 3.22%.

6. What is CLFAX minimum initial investment amount?

CLFAX minimum initial investment amount is $1.00K.

7. What is CLFAX expense ratio?

CLFAX expense ratio is 1.02%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does CLFAX have any sales loads or 12b-1 distribution expenses?

CLFAX 12b-1 distribution fee is 0.25. CLFAX front-end sales load is 4.25. CLFAX back-end sales load is 0.

9. What is CLFAX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0%;
  • 3-year ax cost ratio is 0%.

10. What is CLFAX beta? How would you assess CLFAX risk?

  • 3-year beta is 1.20;
  • 5-year beta is 1.18;
  • 10-year beta is 1.26;
  • 15-year beta is 1.25.

11. What is CLFAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.33;
  • 5-year Sharpe ratio is 0.39;
  • 10-year Sharpe ratio is 0.81.

Analysis

12. What is CLFAX Finny Score? CLFAX buy or sell?

CLFAX Finny Score is 18. Our quantitative analysis shows 2 reasons to buy CLFAX and 9 reasons to sell it, resulting in the Finny Score of 18.

13. What are the pros of investing in CLFAX? What are CLFAX buy reasons?

The following are CLFAX strengths from our perspective:

  • CLFAX 10-year return is 4.24%, which is higher than the 10-year return of the benchmark index (S&P Municipal Bond TR), 4.06%.
  • CLFAX 15-year return is 3.86%, which is in line with the 15-year return of the benchmark index (S&P Municipal Bond TR), 4.17%.

14. What are the cons of investing in CLFAX? What are CLFAX negatives?

The following are CLFAX weaknesses from our perspective:

  • CLFAX net assets are $337.70 million. This fund is not a popular choice with retail investors.
  • CLFAX 3-year return is 2.77%, which is lower than the 3-year return of the benchmark index (S&P Municipal Bond TR), 3.52%.
  • CLFAX 5-year return is 2.91%, which is lower than the 5-year return of the benchmark index (S&P Municipal Bond TR), 3.3%.
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 4.25%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
  • CLFAX expense ratio is 1.02%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • CLFAX 3-year Beta is 1.2, which is higher than the index (BBgBarc Municipal TR USD) 3-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 3 years.
  • CLFAX 5-year Beta is 1.18, which is higher than the index (BBgBarc Municipal TR USD) 5-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 5 years.
  • CLFAX 10-year Beta is 1.26, which is higher than the index (BBgBarc Municipal TR USD) 10-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 10 years.
  • CLFAX 15-year Beta is 1.25, which is higher than the index (BBgBarc Municipal TR USD) 15-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 15 years.
In the CLFAX review, we covered CLFAX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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