The Tax-Exempt Fund of California®
Figures shown are past results and are not predictive of results in future periods. Current and future results may be lower or higher than those shown. Returns are shown at net asset value and have all distributions reinvested. If a sales charge (maximum of 3.75%) had been deducted, the results would have been lower. Share price and return will vary, so investors may lose money. Investing for short periods makes losses more likely. Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Return to the detailed fund information page to see the fund's expense ratio and returns for the most recent quarter- and month-end.
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The results shown are before taxes on fund distributions and sale of fund shares.
The fund is more susceptible to factors adversely affecting issuers of its state's tax-exempt securities than a more widely diversified municipal bond fund.
Lower rated bonds are subject to greater fluctuations in value and risk of loss of income and principal than higher rated bonds. Income may be subject to state or local income taxes and/or the federal alternative minimum tax. Certain other income, as well as capital gain distributions, may be taxable.
The return of principal in bond funds is not guaranteed. Bond funds have the same interest rate, inflation and credit risks that are associated with the underlying bonds owned by the fund.
When applicable, investment results reflect fee waivers and/or expense reimbursements, without which results would have been lower. Read details about how waivers and/or reimbursements affect the results for each fund.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses, summary prospectuses and CollegeAmerica Program Description, which can be obtained from a financial professional and should be read carefully before investing. CollegeAmerica is distributed by American Funds Distributors and sold through unaffiliated intermediaries.