YTD Total Return As of 01/28/2026 | 0.58% |
Nav As of 01/28/2026 | $11.32 |
Nav Change ($0.00) | 0.00% |
A research-driven, actively managed fund offering the potential for monthly income free of federal and California income taxes.
Core Municipal Bond Holding
The fund invests primarily in investment-grade bonds exempt from federal and California income taxes.
Research That Reveals Opportunities
Project-focused, bond-by-bond research seeks to uncover promising under-followed and non-rated opportunities.
Focus on Steady After-Tax Income
The fund seeks to help investors meet income goals while managing federal and California income taxes.
Tax-Managed Solutions
Learn more about the attributes of municipal bonds and our full line-up of funds.
Key Facts
Investment Objective | Seeks safety of principal and high current income that is exempt from federal and California income taxes |
Inception Date | 11/09/1983 |
Morningstar Category | Muni California Intermediate |
Benchmark | S&P Intermediate Term California AMT-Free Muni BondA |
Total Assets | $2,143,032,977 As of 12/31/2025 |
Total Holdings | 1123 As of 11/30/2025 |
Distribution Frequency | Monthly |
Morningstar Overall Rating Based on risk-adjusted return | Out of 53 funds. Muni California Intermediate category As of 12/31/2025 |
Fees
| Gross Expense Ratio | 0.47% |
Trading Information
| Ticker | BCITX |
| CUSIP | 025075508 |
Morningstar ratings vary among share classes and are based on historical risk-adjusted total returns.
Fees
| Gross Expense Ratio | 0.47% |
Trading Information
| Ticker | BCITX |
| CUSIP | 025075508 |
Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value fluctuates. Redemption value may be more or less than original cost. Returns less than one year are not annualized. Index performance does not represent the fund's performance. It is not possible to invest directly in an index.
Average annual total returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized. For periods prior to the inception of a class, performance is for the oldest class, restated with applicable fees, if any.
Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value fluctuates. Redemption value may be more or less than original cost. Returns less than one year are not annualized. Index performance does not represent the fund's performance. It is not possible to invest directly in an index.
30-Day SEC Subsidized Yield
2.91%
As of 12/31/2025
30-Day SEC UnSubsidized Yield
2.90%
As of 12/31/2025
YIELD TO WORST
3.27%
As of 12/31/2025
YIELD TO MATURITY
3.76%
As of 12/31/2025
30-Day SEC Yield (Subsidized/Unsubsidized): Represents net investment income earned by a fund over a 30-day period, expressed as an annual percentage rate based on the fund's share price at the end of the 30-day period. Subsidized yield reflects fee waivers and/or expense reimbursements during the period. Without waivers and/or reimbursements, yields would be reduced. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.
Yield to Worst: Lowest yield possible for a security given the current price, taking into account both call dates and maturity.
Yield to Maturity: The internal rate of return of the security based on the given market price—it is the single discount rate that equates a security price (inclusive of accrued interest) with its projected cashflows.
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.
FREQUENCY
Monthly
Daily Dividend Accrual
+0.000918022
As of 01/28/2026
| Total Paid | Ordinary Dividends | Reinvest Price | |
|---|---|---|---|
| 12/31/2025 | $0.02969069 | $0.02969069 | $11.28 |
| 12/04/2025 | -- | -- | $11.26 |
| 11/28/2025 | $0.026995267 | $0.026995267 | $11.28 |
| 10/31/2025 | $0.030286503 | $0.030286503 | $11.28 |
| 09/30/2025 | $0.028039344 | $0.028039344 | $11.19 |
| 08/29/2025 | $0.029595254 | $0.029595254 | $11.02 |
| 07/31/2025 | $0.027171393 | $0.027171393 | $10.96 |
| 06/30/2025 | $0.027220994 | $0.027220994 | $11.00 |
| 05/30/2025 | $0.028530237 | $0.028530237 | $10.95 |
| 04/30/2025 | $0.027910511 | $0.027910511 | $10.97 |
| 03/31/2025 | $0.025445637 | $0.025445637 | $11.06 |
| 02/28/2025 | $0.02801059 | $0.02801059 | $11.24 |
| 01/31/2025 | $0.027917819 | $0.027917819 | $11.16 |
| Overall | Out of 53 funds. Muni California Intermediate category |
| 3 Year | Out of 53 funds |
| 5 Year | Out of 52 funds |
| 10 Year | Out of 45 funds |
Morningstar ratings vary among share classes and are based on historical risk-adjusted total returns.
| Risk Measures | |
|---|---|
| Alpha | -0.08 |
| Beta | 1.02 |
| R-Squared | 0.98 |
| Standard Deviation | 4.37 |
| Sharpe Ratio | -0.30 |
Relative to the S&P Intermediate Term California AMT-Free Muni Bond
Past performance is no guarantee of future results. Investment returns will fluctuate and it is possible to lose money.
As of 12/31/2025
| Local GO | 13% |
| Hospital | 10% |
| Water & Sewer | 9% |
| Energy Prepay | 8% |
| Special Assessment | 8% |
| Tax Increment | 6% |
| Multi-Family Housing | 6% |
Due to rounding, these values may exceed 100%.
Negative weights may be due to open security or capital stock
trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
As of 12/31/2025
| East County Advanced Water Purification Joint Powers Authority 3.13% 09/01/2026 | 1.40% |
| California Community Choice Financing Authority 5.00% 11/01/2033 | 1.27% |
| University of California 5.00% 05/15/2029 | 0.74% |
| California Community Choice Financing Authority 5.25% 11/01/2054 | 0.71% |
| University of California 5.00% 05/15/2026 | 0.71% |
| California Community Choice Financing Authority 5.00% 12/01/2055 | 0.61% |
| Los Angeles Department of Water & Power Water System Revenue 5.00% 07/01/2042 | 0.61% |
| University of California 5.00% 05/15/2037 | 0.57% |
| California Infrastructure & Economic Development Bank 5.00% 11/01/2031 | 0.56% |
| California Community Choice Financing Authority 5.00% 02/01/2054 | 0.55% |
| % of Top Portfolio Holdings | 7.73% |
Due to rounding, these values may exceed 100%.
Negative weights may be due to open security or capital
stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period
end.
As of 12/31/2025
| AAA | 6.67% |
| AA | 59.22% |
| A | 14.36% |
| BBB | 9.29% |
| BB | 0.23% |
| B | 0.64% |
| Non Rated | 9.65% |
| Cash and Cash Equivalents | -0.06% |
Due to rounding, these values may exceed 100%
Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
As of 12/31/2025
| 0 - 1 Years | 14.96% |
| 1 - 3 Years | 5.67% |
| 3 - 5 Years | 9.89% |
| 5 - 10 Years | 26.39% |
| 10 - 20 Years | 40.39% |
| 20 - 30 Years | 2.64% |
| 30+ Years | 0.06% |
Due to rounding, these values may exceed 100%
Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
11.66 Years Weighted Average Life to Maturity
As of 12/31/2025
As of 12/31/2025
| Cash and Cash Equivalents% | -0.06% |
| 0 - 2% | 3.10% |
| 2.0 - 4.0% | 19.12% |
| 4.0 - 5.0% | 2.50% |
| 5 - 5.5% | 74.01% |
| 5.5 - 6.0% | 0.29% |
| >=6% | 1.05% |
Due to rounding, these values may exceed 100%
Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
4.60% Average Coupon
As of 12/31/2025
| 0 - 2 Years | 24.55% |
| 2 - 4 Years | 21.49% |
| 4 - 6 Years | 18.91% |
| 6 - 8 Years | 25.48% |
| 8 - 10 Years | 2.52% |
| 10 - 15 Years | 6.31% |
| 15+ Years | 0.73% |
Due to rounding, these values may exceed 100%
Negative weights may be due to open security or capital stock trades at period end and/or unrealized loss on derivative positions as a percent of net assets at period end.
4.70 Years Average Modified Duration
As of 12/31/2025
| States | % Portfolio |
|---|---|
| California | 99% |
| Guam | 1% |
| Puerto Rico | <1% |
| New Hampshire | <1% |
| American Samoa | <1% |
Due to rounding, these values may exceed 100%
Senior Portfolio Manager
How to Buy
Individual investors: Open a new account or use an existing account registration.
Open New Account Log In NowFinancial Advisors: Contact your wholesaler at 1-800-345-6488 for more information.
Because the fund invests primarily in California municipal securities and securities issued by U.S. territories, its yield and share price will be affected by political and economic developments within the state and territories.
There is no guarantee that all of the fund's income will be exempt from federal or state or local income taxes. The portfolio managers are permitted to invest up to 20% of the fund's assets in debt securities with interest payments that are subject to federal income tax, California state or local income tax and/or the federal alternative minimum tax.
Investment income may be subject to certain state and local taxes and, depending on your tax status, the federal alternative minimum tax (AMT). Capital gains are not exempt from state and federal income tax.
This fund is not available in all states.
Please see the prospectus for details about sales charges.
The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.
Investor Class Shares: Minimum initial investment is $1,000 for IRA and CESA accounts, and $2,500 for non-retirement accounts, but these minimums are waived with an initial investment of at least $500 per account and automatic investments of at least $100 per month. Non-Retirement Accounts: If your account balance falls below the minimum, or if you cancel your automatic monthly investment plan prior to reaching the minimum, American Century Investments may redeem the account and send the proceeds to you. Prior to doing so, we will notify you and give you 90 days to meet the minimum or reinstate your automatic monthly investment plan.
Includes all bonds in the S&P National AMT-Free Municipal Bond Index that have a state code of California (CA) and an effective maturity, as measured from the first business day of the month, that is at least one month and less than 20 years. It is not an investment product available for purchase.
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