Use American to reduce overall market volatility in the long term. The fund experiences normal upward fluctuation
1 Month Beta ..........
-0.05
As returns on market increase, returns on owning American are expected to decrease at a much smaller rate. During bear market, American is likely to outperform the market.
The median price of American for the period between Thu, Apr 26, 2012 and Sat, May 26, 2012 is 17.33 with a coefficient of variation of 0.27. The daily time series for the period is distributed with a sample standard deviation of 0.05, arithmetic mean of 17.32, and mean deviation of 0.04. The Fund did not receive any noticable media coverage during the period.
American Funds TaxExempt CA A [TAFTX] is traded in USA and was established in October 27, 1986. The fund is listed under Muni California Long category and is part of American Funds family. This fund at this time has accumulated 1.54 B in assets with minimum initial investment of 1 K. American Funds TaxExempt CA A is currently producing year-to-date (YTD) return of 4.5% with the current yeild of 3.83%, while the total return for the last 3 years was 9.04%.
Fund Instrument Allocation for American
The fund consists of 98.38% investments in fixed income securities, with the rest of funds allocated in cash and various exotic instruments.
88% of all equities and portfolios perform better than American Funds TaxExempt CA A. Compared with the overall equity markets, risk-adjusted returns on investments in American Funds TaxExempt CA A are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.
American Funds TaxExempt CA A is rated below average in net asset among similar funds. Total Asset Under Management (AUM) of Muni California Long category is currently estimated at about 73.2 Billion. American holds roughly 1.54 Billion in net asset claiming about 2.1% of funds under Muni California Long category.
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