Fiscal Year End
|| Muni California Long
To provide, consistent with prudent portfolio management, the highest level of income exempt from federal and California state income taxes.
Invests at least 80% of its net assets in California municipals. Dollar-weighted average maturity is expected to exceed 10 years.
California taxpayers who, because of their tax bracket, can benefit from income that is exempt from federal and California state income taxes. Not appropriate for tax-deferred retirement plans, such as IRAs. Some income may be subject to the federal alternative minimum tax. Income earned by non-California residents will be subject to applicable state and local taxes.
AZ, CA, DC, FL, HI, MD, NJ, NV, OR, WY
Click on the risk/reward spectrum below to view the funds in that category
The California Tax-Free Bond Fund offers investors income that is double-tax-free. The fund is expected to provide higher income than the T. Rowe Price California Tax-Free Money Fund, with more share price volatility.
Yield and share price will vary with interest rate changes. Investors should note that if interest rates rise significantly from current levels, bond fund total returns will decline and may even turn negative in the short term. There is also a chance that some of the fund's holdings may have their credit rating downgraded or may default. The fund is less diversified than one investing nationally.