Fund Evaluator:

American Century CA Interm-T T-Fr Bd Inv Overview

American Century CA Interm-T T-Fr Bd Inv (BCITX) is an actively managed Municipal Bond Muni California Intermediate fund. American Century Investments launched the fund in 1983.

The investment seeks safety of principal and high current income that is exempt from federal and California income taxes. The portfolio managers primarily buy investment-grade debt securities and, under normal market conditions, will invest at least 80% of the fund’s net assets in debt securities that have interest payments exempt from federal and California income taxes. Cities, counties and other municipalities in California and U.S. territories, such as Puerto Rico, issue these securities. The fund’s weighted average maturity will be not less than three years nor more than ten years. However, there is no maturity limit on individual securities.

About American Century CA Interm-T T-Fr Bd Inv (BCITX)

There are 2 members of the management team with an average tenure of 19.07 years: Alan Kruss (2006), Joseph Gotelli (2008). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: S&P National AMT Free Muni TR USD index with a weighting of 100% and S&P Intermd Term CA AMT-Free Muni TR USD index with a weighting of 100%. American Century CA Interm-T T-Fr Bd Inv has 1053 securities in its portfolio. The top 10 holdings constitute 8.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

American Century CA Interm-T T-Fr Bd Inv is part of the Fixed Income global asset class and is within the Municipal Bond fund group. American Century CA Interm-T T-Fr Bd Inv has 1.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.8% (97.6% domestic bond, 1.2% foreign bond and 0.0% convertible bond). American Century CA Interm-T T-Fr Bd Inv has 1.2% of the portfolio in cash.

Assets Under Management

The fund has $570 million in total assets, which is below the $621 million average for the Muni California Intermediate category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

BCITX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The American Century CA Interm-T T-Fr Bd Inv expense ratio is average compared to funds in the Muni California Intermediate category. American Century CA Interm-T T-Fr Bd Inv has an expense ratio of 0.47%, which is 30% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. American Century CA Interm-T T-Fr Bd Inv has a portfolio turnover rate of 61%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 47% for the Muni California Intermediate category.

Recently, in the month of June 2026, American Century CA Interm-T T-Fr Bd Inv returned 0.6%, which earned it a grade of C, as the Muni California Intermediate category had an average return of 0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

American Century CA Interm-T T-Fr Bd Inv has a trailing yield of 3.05%, which is above the 2.98% category average. The fund normally distributes its income monthly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

American Century CA Interm-T T-Fr Bd Inv Grades

Year to date, the fund has returned 1.6%, 0.0 percentage points worse than the category, which translates into a grade of C. The fund has returned 5.8% over the past year (grade of C), 3.5% over the past three years (grade of C) and 1.0% per year over the past five years (grade of C) and 1.7% per year over the past 10 years (grade of B).

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