Fund Evaluator:
Capital Group CA Core Municipal (CCCMX)
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Best Performing in Muni California Intermediate Over the Last Year
| 4.7% | Green California Tax-Free Income Inv (CFNTX) |
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| 4.5% | American Century CA Interm-T T-Fr Bd Y (ACYTX) |
| 4.5% | Vanguard CA Interm-Term Tax-Exempt Inv (VCAIX) |
| 4.3% | American Century CA Interm-T T-Fr Bd Inv (BCITX) |
Fund Details
Capital Group CA Core Municipal Overview
Capital Group CA Core Municipal (CCCMX) is an actively managed Municipal Bond Muni California Intermediate fund. Capital Group launched the fund in 2010.
The investment seeks to provide current income exempt from federal and California income taxes while preserving the investors' investment. The fund primarily invests in municipal bonds issued by the state of California and its agencies and municipalities. Under normal circumstances, it will invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from federal and California income taxes. The fund may also invest in municipal securities that are issued by jurisdictions outside California. It will not invest in securities that subject the investors to the federal alternative minimum tax.
About Capital Group CA Core Municipal (CCCMX)
There are 1 members of the management team with an average tenure of 9.58 years: Mark Marinella (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg CA 1-10 Inter-Sht Muni TR USD index with a weighting of 100%. Capital Group CA Core Municipal has 477 securities in its portfolio. The top 10 holdings constitute 13.3% 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.
Capital Group CA Core Municipal is part of the Fixed Income global asset class and is within the Municipal Bond fund group. Capital Group CA Core Municipal has 0.2% 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 98.5% (98.4% domestic bond, 0.2% foreign bond and 0.0% convertible bond). Capital Group CA Core Municipal has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $712 million in total assets, which is above 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.
CCCMX 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 Capital Group CA Core Municipal expense ratio is below average compared to funds in the Muni California Intermediate category. Capital Group CA Core Municipal has an expense ratio of 0.27%, which is 60% lower than its category average, making the fund expense ratio grade a A. 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. Capital Group CA Core Municipal has a portfolio turnover rate of 36%, 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 July 2026, Capital Group CA Core Municipal returned -1.0%, which earned it a grade of A, as the Muni California Intermediate category had an average return of -1.5%. 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.
Capital Group CA Core Municipal has a trailing yield of 2.63%, which is below the 3.02% 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.
Capital Group CA Core Municipal Grades
Year to date, the fund has returned -0.2%, 0.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 2.7% over the past year (grade of F), 2.9% over the past three years (grade of C) and 1.0% per year over the past five years (grade of A) and 1.5% per year over the past 10 years (grade of C).
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CCCMX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CCCMX Return (NAV) | -1.0% | -0.4% | 2.7% | 2.9% | 1.0% | 1.5% |
| CCCMX Grade | A | C | F | C | A | C |
| +/- Category | 0.4% | 0.1% | -1.5% | -0.0% | 0.5% | 0.1% |
| Muni California Intermediate Avg | -1.5% | -0.5% | 4.3% | 2.9% | 0.5% | 1.5% |
| CCCMX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.1% |
CCCMX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CCCMX Return (NAV) | -0.2% | 4.7% | 1.4% | 3.8% | -4.0% | 0.0% | 3.8% | 4.6% | 1.7% | 3.0% | -0.0% |
| CCCMX Grade | F | B | D | F | A | F | C | F | A | F | A |
| +/- Category | -0.4% | 0.7% | -0.3% | -1.2% | 3.2% | -0.9% | 0.1% | -1.6% | 0.9% | -1.5% | 0.4% |
| Muni California Intermediate Avg | 0.2% | 4.0% | 1.7% | 4.9% | -7.2% | 0.9% | 3.7% | 6.2% | 0.8% | 4.4% | -0.4% |
| Risk Measures | |
| Standard Deviation: | 3.6% |
| Total Risk Index: | 0.29 - Low |
| Category Risk Index: | 0.84 - Low |
| Category Risk Grade: | A (8% Rank) |
| Beta: | 0.61 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 2.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $712 Mil |
| Fund Total Assets: | $ 712 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 36% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 9.6 years | |||
| Average Tenure: 9.6 years | |||
| Managers (Year): Marinella Mark (2017) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 477 |
| % in Top 10 Holdings: | 13.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.2% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 98.4% |
| Foreign Bond: | 0.2% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | Capital Group |
| Phone Number: | 866-421-2166 |
| Website: | www.capitalpcsfunds.com |
| Status: | Open |
| Inception Date: | April 13, 2010 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.27% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.67% |
| Share Class: | Capital Group CA Core Municipal |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
