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15 important things you should know about American Funds TECCX mutual fund

Updated: September 28, 2020
N/A
Bull Case
  • No Bull case arguments for now!
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • 5-year return below the benchmark
  • 10-year return below the benchmark
  • 15-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

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

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

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

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

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

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

Fact Sheet

1. Describe American Funds Tax-Exempt Series II: Tax-Exempt Fund of California; Class C Shares (TECCX).

The Fund seeks to provide a high level of current income exempt from regular federal and California income taxes. Its secondary objective is preservation of capital. The Fund seeks to achieve its objectives by primarily investing in municipal bonds issued by the state of California and its agencies and municipalities.

2. What are TECCX top holdings?

TECCX has 0 stock holdings and 1,096 bond holdings.

The top 9 holdings represent 6.08% of total assets. Here are the top holdings:

Name Symbol % Assets
BAY AREA TOLL AUTH CALIF TOLL BRDG REV 5% N/A 0.87%
CALIFORNIA ST DEPT WTR RES CENT VY PROJ REV 4% N/A 0.85%
METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV 0.69% N/A 0.76%
CALIFORNIA HSG FIN AGY MUN CTFS 4.25% N/A 0.69%
METROPOLITAN WTR DIST SOUTHN CALIF WTRWRKS REV 1.36% N/A 0.65%
FRETE 2019-ML05 TR 3.35% N/A 0.64%
CALIFORNIA ST 4% N/A 0.62%
CALIFORNIA HEALTH FACS FING AUTH REV 4% N/A 0.51%
CALIFORNIA ST 5% N/A 0.49%

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

TECCX has generated the following returns:

  • 1-month return is -0.32%;
  • 3-month return is 1.32%;
  • 1-year return is 2.42%;
  • 3-year return is 3.01%;
  • 5-year return is 2.80%;
  • 10-year return is 3.54%;
  • 15-year return is 3.39%.

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

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

TECCX up and down years

5. What is TECCX dividend yield?

TECCX yield is 1.87%.

6. What is TECCX minimum initial investment amount?

TECCX minimum initial investment amount is $1.00K.

7. What is TECCX expense ratio?

TECCX expense ratio is 1.36%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

TECCX expenses

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

TECCX 12b-1 distribution fee is 1. TECCX front-end sales load is 0. TECCX back-end sales load is 1.

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

  • 1-year ax cost ratio is 0.14%;
  • 3-year ax cost ratio is 0.04%.
TECCX tax costs

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

  • 3-year beta is 1.04;
  • 5-year beta is 1.04;
  • 10-year beta is 1.08;
  • 15-year beta is 1.14.
TECCX Beta

11. What is TECCX Sharpe ratio?

  • 3-year Sharpe ratio is 0.34;
  • 5-year Sharpe ratio is 0.42;
  • 10-year Sharpe ratio is 0.76;
  • 15-year Sharpe ratio is 0.43.
TECCX Sharpe ratio

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 0. Our quantitative analysis shows 0 reasons to buy and 7 reasons to sell it, resulting in the Finny Score of 0.

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

We don't see any strong reasons to buy TECCX.

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

The following are TECCX weaknesses from our perspective:

  • <strong>TECCX net assets</strong> are $68.80 million. This fund is not a popular choice with retail investors.
  • <strong>TECCX 3-year return</strong> is 3.01%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays Municipal California Exempt TR USD), 4.23%.
  • <strong>TECCX 5-year return</strong> is 2.8%, which is lower than the 5-year return of the benchmark index (Bloomberg Barclays Municipal California Exempt TR USD), 3.92%.
  • <strong>TECCX 10-year return</strong> is 3.54%, which is lower than the 10-year return of the benchmark index (Bloomberg Barclays Municipal California Exempt TR USD), 4.37%.
  • <strong>TECCX 15-year return</strong> is 3.39%, which is lower than the 15-year return of the benchmark index (Bloomberg Barclays Municipal California Exempt TR USD), 4.51%.
  • <strong>TECCX expense ratio</strong> is 1.36%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 and deferred sales fee. The maximum 12b1 fee is 1%, while the maximum deferred sales load is 1%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Deferred sales load is a back-end sales charge and is imposed when an investor redeems shares.
In the TECCX review, we covered TECCX 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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