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Virtus California Tax-Exempt Bond Fund Class Institutional – CTXEX Fund Overview

Last PriceToday's Change52-Week RangeTrading Volume
12.220.00 (0.00%)11.93 - 12.300.0

Market data as of 6:05PM 07/25/16. Quotes are delayed by at least 15 min.

Overview - CTXEX

The investment seeks a high level of current income exempt from California state and local income taxes, as well as federal income tax, consistent with the preservation of capital. The fund invests at least 80% of its assets in bonds, the income from which is exempt from California state income tax and federal income tax, and may invest 100% of its assets in such securities. The management team focuses on high quality California tax-exempt municipal bonds, gauging the value of a security by issue type, credit quality, and bond structure; however, the fund may invest up to 20% of its net assets in below investment grade tax-exempt municipal bonds.

Growth of $10,000 (10 Years)

Total Return4.89%
Yield (Trailing 12 Mo.)3.11%
Expense Ratio0.93%
Front LoadNone
Deferred LoadNone
Minimum Investment$100,000
Management Tenure20 Years
Fund Inception09/29/2006

Trailing Total Returns - CTXEX

as of 06/30/2016
TimeframeCTXEXS&P 500Muni California Long
1 Month1.50%0.26%1.89%
3 Month2.80%2.46%3.34%
1 Year8.08%3.99%9.29%
3 Year6.37%11.66%6.90%
5 Year6.14%12.10%6.90%
10 Year5.16%7.42%5.00%
Since Inception4.89%10.45%--

Sector Allocation - CTXEX

as of 06/30/2016
Basic Materials--
Consumer Cyclical--
Financial Services--
Real Estate--
Consumer Defensive--
Communication Services--

Asset Allocation - CTXEX

as of 06/30/2016
By PercentShort0%LongNet
Foreign Stock--
Foreign Bond--
Total Net Assets$31.13M
Total Stock Holdings0
Total Bond Holdings89

Bond Credit Quality - CTXEX

as of 06/30/2016
Below B0.00%
Not Rated3.90%

Top Ten Holdings - CTXEX

as of 06/30/2016
CompanyYTD Return% of Assets
Riverside Cnty Calif Single Fa Sing 7.8%--4.71%
Golden St Tob Securitization C To 5.125%--2.90%
North City West Calif Sch Facs Rev 5.25%--2.39%
Pomona Calif Ctfs Partn Cops 5.5%--2.34%
California Infrasct & Ec First Li 5.125%--2.32%
Santa Margarita/Dana Point Aut Re 5.125%--2.27%
California St Pub Wks Brd Leas Lea 5.75%--2.09%
San Diego Calif Pub Facs Fing Sr Ref 5%--2.00%
California St Pub Wks Brd Leas Le 6.125%--1.89%
California St Univ Rev Rev Bds 5.25%--1.85%

Valuation & Growth - CTXEX

as of 06/30/2016
ValuationCTXEXCategory Range
Price/Cash Flow--
Dividend Yield
LT Earnings
Historical Earnings
Sales Growth
Cash-Flow Growth
Book-Value Growth
Key:  Lo 

Morningstar Summary - CTXEX, 3 Year

Rate Sensitivity
Ratingvs Category
RiskBelow Avg
Key:  Lo 

Tax Analysis - CTXEX, 3 Year Avg

Pretax Return6.37%
Tax-adjusted Return5.74%
Tax Cost Ratio0.59%
Potential Cap Gains8.27%

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