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Fixed Income

MCA

MuniYield California Quality Fund

Overview

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Performance

Performance

  • Returns

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.


Returns are shown net of advisory fees paid by the fund and net of the fund’s operating fees and expenses. Investors who purchase shares of the fund through an investment adviser or other financial professional may separately pay a fee to that service provider. Past performance is not indicative of future results.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Growth of Hypothetical $10,000 The growth of hypothetical $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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Distributions

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Key Facts

Key Facts

Net Assets as of Sep 16, 2019 $543,330,625
Managed Assets as of Sep 16, 2019 $907,735,844.38
Share Class launch date Oct 30, 1992
Exchange New York Stock Exchange Inc.
Asset Class Fixed Income
Morningstar Category Muni California Long
Lipper Classification CA Muni Debt Funds
CUSIP 09254N103
Management Fee 0.84%
Gross Expense Ratio 2.22%
Shares Outstanding as of Sep 16, 2019 34,405,717
Number of Holdings as of Aug 30, 2019 168

Portfolio Characteristics

Portfolio Characteristics

Average Coupon as of Aug 30, 2019 5.20%
WAL to Maturity as of Aug 30, 2019 18.28 yrs

Ratings

Holdings

Holdings

as of Aug 30, 2019
Name Weight (%)
MS-TOB 0.0355 CASMED 13032UAR9 3.24
TOB 3.12 UNVHGR 91412GYV1 2.79
TOB 3.55 CASDEV 1307955E3 144A 2.41
MS-TOB 3.5 SMTHGR 799038MC5 2.36
TOB 3.377 WTVHGR 95640HEX2 2.10
Name Weight (%)
C-ROLS 0.0293 SC 786 2.07
TOB 3.097 PMPHGR 697511DS9 1.97
DRIVER 3.35 CASHGR 13077CY65 1.74
MS-TOB 3.55 LOSAPT 5444357P9 1.71
TOB 3.18 ANAGEN 03255LGV5 1.71

Exposure Breakdowns

Exposure Breakdowns

Type Fund
Type Fund
Type Fund
Type Fund
Type Fund
Type Fund
The fund itself has not been rated by an independent rating agency. Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security the lower of the two ratings if only two agencies rate a security and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.

as of Aug 30, 2019
Type Fund
Notional value represents a fund’s use of derivatives, including but not limited to futures, options, and swaps. This value captures the fund exposures as if the derivative was replaced with the underlying asset and the corresponding financing or lending, such that all exposures sum to the net asset value. For non-derivatives, the market value and the notional value are identical.

Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Walter O'Connor, CFA
Managing Director is a Co-head and Portfolio Manager for the Municipal Bond Funds team

  

Michael Perilli
Michael Perilli
Portfolio Manager

Literature

Literature