MFS® California Municipal Fund

Tax-Advantaged FI | CCA
$ 12.45
As of 01/19/18
$35M
As of 12/31/17

MFS® California Municipal Fund

Tax-Advantaged FI
CCA
As of 01/19/18
As of 12/31/17
Tax-Advantaged FI | CCA
$ 12.45
As of 01/19/18
$35M
As of 12/31/17
A tax-exempt closed-end bond fund
INVESTMENT OBJECTIVE

Seeks high current income exempt from federal income tax and California state personal income tax, but may also consider capital appreciation.

Fund Information

Fund Commencement
10/29/99
Net Assets ($ M)
As of 12/31/17
$35.03
Fiscal Year End
NOVEMBER
Net Asset Value (NAV)
As of 01/19/18
$12.45
Most Recent NAV Change
As of 01/19/18
0.08%
Market Price (MP)
As of 01/19/18
$11.23
Recent Market Price Change
As of 01/19/18
0.11%

Top 10 Holdings

As of 12/31/17
  • LA Cnty Schools Reg Business Sevces Corp CA Cap Apprec-Pooled Fing-Ser A AMBAC 0.000 AUG 01 18
  • Pomona Unified School District CA Ref-Ser A National Public Fin 6.550 AUG 01 29
  • Port of Oakland CA Ref-Amt-Senior Lien-Ser P 5.000 MAY 01 33
  • LA Cnty Schools Reg Business Sevcs Corp CA Cap Apprec-Pooled Fing-Ser A AMBAC 0.000 AUG 01 23
  • Golden State Tobacco Securitization Corp Asset-Bkd-Sr-Ser A-1 5.125 JUN 01 47
  • City of Los Angeles Department of Airports CA Sub-Los Angeles Intl-C-Bhac-Cr BHAC 5.250 MAY 15 38
  • Mount San Antonio Community College District CA Convertible Cabs-Election 2008 0.000 AUG 01 43
  • Southern CA Public Power Authority Proj No 1-Ser A 5.000 NOV 01 33
  • UST Bond 30Yr Future MAR 20 18*
  • UST Bond 10Yr Future MAR 20 18*
MANAGERS

Important Risk Considerations

The fund may not achieve its objective and/or you could lose money on your investment in the fund.

Investments in debt instruments may decline in value as the result of declines in the credit quality of the issuer, borrower, counterparty, or other entity responsible for payment, underlying collateral, or changes in economic, political, issuer-specific, or other conditions. Certain types of debt instruments can be more sensitive to these factors and therefore more volatile. In addition, debt instruments entail interest rate risk (as interest rates rise, prices usually fall). Therefore the Fund's share price may decline during rising rates. Funds that consist of debt instruments with longer durations are generally more sensitive to a rise in interest rates than those with shorter durations. At times, and particularly during periods of market turmoil, all or a large portion of segments of the market may not have an active trading market. As a result, it may be difficult to value these investments and it may not be possible to sell a particular investment or type of investment at any particular time or at an acceptable price. The price of an instrument trading at a negative interest rate responds to interest rate changes like other debt instruments; however, an instrument purchased at a negative interest rate is expected to produce a negative return if held to maturity.

Investments in derivatives can be used to take both long and short positions, be highly volatile, involve leverage (which can magnify losses), and involve risks in addition to the risks of the underlying indicator(s) on which the derivative is based, such as counterparty and liquidity risk.

Investments in municipal instruments can be volatile and significantly affected by adverse tax or court rulings, legislative or political changes, market and economic conditions, issuer, industry-specific (including the credit quality of municipal insurers), and other conditions.

The fund's performance could be closely tied to the economic, political, and other conditions in the statesand U.S. territories and possessions in which the fund invests and could be more volatile than the performance of more geographically diversified funds.

The market price of common shares of the fund will be based on factors such as the supply and demand for common shares in the market and general market, economic, political or regulatory conditions. Whether shareholders will realize gains or losses upon the sale of common shares of the fund will depend on the market price of common shares at the time of the sale, not on the fund's net asset value. The market price may be lower or higher than the fund's net asset value. Shares of closed-end funds frequently trade at a discount or premium to their net asset value.

To the extent that investments are purchased with the issuance of preferred shares, the fund's net asset value will increase or decrease at a greater rate than a comparable unleveraged fund.

Leverage involves investment exposure in an amount exceeding the initial investment. Leverage can cause increased volatility by magnifying gains or losses.

Performance

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Average Annual Total Returns %

Average Annual Total Returns %

As of 12/31/17 (*YTD Updated Monthly, As of 12/31/17 , subject to revision and not annualized.)

    Performance data shown represents past performance and is no guarantee of future results. At the time of sale, shares may have a market price that is above or below net asset value, and may be worth more or less than the original cost; current performance may be lower or higher than quoted. All results are historical and assume the reinvestment of dividends and capital gains.

    The performance shown is attributable in part to unusual market conditions. These conditions may not be repeated in the future.
    OVERALL
    Out Of Funds
    NA
    OVERALL MORNINGSTAR RATING
    NA
    THREE YEAR
    Out Of Funds
    NA
    FIVE YEAR
    Out Of Funds
    NA
    TEN YEAR
    Out Of Funds
    NA
    Annual Rate of Return %
    Pricing & Distributions