American Century California Municipal Bond ETF
$47.85−0.33 (−0.68%)
- Expense ratio
- 0.25%
- Fund size
- $115M
- 1Y return
- +0.0%
- Yield · Last 12 months
- 3.74%
- Holdings
- 314
- Volume · 30D
- 0M sh
- NAV per share
- $48.10
- 52W range
The ETF.net CATF Grade
Score 63 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 69Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 89Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 55Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.DScore 30Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 52Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 42Category rank
Our read on CATF
BCATF goes after muni income that skips both federal and California income tax, built from roughly 300 bonds chosen through credit and duration research. Fee: 0.27% a year.
The fund seeks high current income exempt from federal and California income taxes. It primarily invests in investment-grade bonds exempt from those taxes, using top-down credit and duration analysis plus research-driven security selection.
Why people hold it
- The double exemption is the whole point: the fund seeks income free of federal and California income taxes, which only works with a single-state portfolio.
- At 0.27% a year it sits under the median fee for muni bond ETFs, so less of that tax-free coupon leaks out to costs.
- Stated policy is monthly income, spread across about 300 investment-grade holdings and measured against the S&P California AMT-Free Municipal Bond Index.
- It stays on its stated mandate, investment-grade California munis with no style drift, and lands in the upper half of the muni ETF group.
Worth knowing
- Thinly traded and young (launched July 2024), so bid-ask spreads tend to run wider than on the big national muni funds.
- One state, one tax code. California credit conditions and bond supply drive results here in a way a national fund like MUB or VTEB spreads around.
- The state-tax break is worth nothing outside California, and broad national munis such as VTEB and SCMB charge 0.03%.
CATF Holdings
- Bonds
- 314
- 16%
- CALLEGUAS LAS VIRGENES CA PUBL CLLGEN 07/37 ADJUSTABLE VAR
Geography
- United States100.00%
CATF Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | CATF |
|---|---|
| Year to date | −1.3% |
| 1 month | −2.3% |
| 3 months | −3.6% |
| 1 year | +0.0% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CATF |
|---|---|---|
| 2026 YTD | −1.3% | |
| 2025 | +3.8% | |
| 2024 | +1.1% |
CATF in the news
ETF.net Research hasn’t filed on CATF yet — coverage lands here as it’s written.
CATF Dividends
- 3.74%
- $1.80
- $0.13 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 4, 2026 | Sep 8, 2026 | $0.13 |
| Aug 6, 2026 | Aug 10, 2026 | $0.16 |
| Jul 7, 2026 | Jul 9, 2026 | $0.15 |
| Jun 4, 2026 | Jun 8, 2026 | $0.14 |
| May 6, 2026 | May 8, 2026 | $0.13 |
| Apr 7, 2026 | Apr 9, 2026 | $0.16 |
| Mar 5, 2026 | Mar 9, 2026 | $0.15 |
| Feb 5, 2026 | Feb 9, 2026 | $0.18 |
| Dec 16, 2025 | Dec 18, 2025 | $0.15 |
| Dec 1, 2025 | Dec 3, 2025 | $0.14 |
| Nov 3, 2025 | Nov 5, 2025 | $0.15 |
| Oct 1, 2025 | Oct 3, 2025 | $0.16 |
CATF Risk
- 4.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.42
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −4.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CATF Cost
- The middle half of Other Municipal Bond funds
- Median 0.30%
17 of the 62 Other Municipal Bond funds charge less.