Sector Allocation - CTXEX
as of 05/31/2013
| Basic Materials | -- | |
|---|---|---|
| Consumer Cyclical | -- | |
| Financial Services | -- | |
| Real Estate | -- | |
| Consumer Defensive | -- | |
| Healthcare | -- | |
| Utilities | -- | |
| Communication Services | -- | |
| Energy | -- | |
| Industrials | -- | |
| Technology | -- |
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CTXEX:NASDAQ
Virtus California Tax-Exempt Bond Fund Class Institutional – CTXEX Fund Overview
| Last Price | Today's Change | 52-Week Range | Trading Volume |
|---|---|---|---|
| 12.44 | 0.00 (0.00%) | 12.44 - 13.22 | 0.0 |
Market data as of 12:00AM 06/18/13. Quotes are delayed by at least 15 min.
Overview - CTXEX
The investment seeks a high level of current income exempt from California state and local income taxes, as well as federal income tax, consistent with the preservation of capital. The fund invests in municipal bonds issued in the state of California. The management team focuses on high quality California tax-exempt municipal bonds, gauging the value of a security by issue type, credit quality, and bond structure. It invests at least 80% of its assets in bonds, the income from which is exempt from California state income tax and federal income tax, and may invest 100% of its assets in such securities.
Growth of $10,000 (10 Years)
| Total Return | 4.79% |
|---|---|
| Yield (Trailing 12 Mo.) | 3.68% |
| Expense Ratio | 0.80% |
| Front Load | None |
| Deferred Load | None |
| Minimum Investment | $100,000 |
| Management Tenure | 17 Years |
| Fund Inception | 09/29/2006 |
Trailing Total Returns - CTXEX
as of 05/31/2013
| Timeframe | CTXEX | S&P 500 | Muni California Long |
|---|---|---|---|
| 1 Month | -1.19% | 2.34% | -1.22% |
| 3 Month | -0.44% | 8.22% | -0.48% |
| Year-to-Date | -0.04% | 15.37% | 0.61% |
| 1 Year | 3.68% | 27.28% | 4.70% |
| 3 Year | 6.12% | 16.87% | 6.71% |
| 5 Year | 5.46% | 5.43% | 5.67% |
| 10 Year | 4.09% | 7.58% | 4.29% |
| Since Inception | 4.79% | 10.42% | -- |
Asset Allocation - CTXEX
as of 05/31/2013
| By Percent | Short | 0% | Long | Net | |
|---|---|---|---|---|---|
| Stock | -- | 0.00 | 0.00 | ||
| Bond | -- | 99.03 | 99.03 | ||
| Other | -- | 0.00 | 0.00 | ||
| Foreign Stock | -- | 0.00 | 0.00 | ||
| Foreign Bond | -- | 0.00 | 0.00 | ||
| Total | -- | 99.03 | 99.03 | ||
| Cash | -- | 0.97 | 0.97 | ||
| Total Net Assets | $53.15M |
|---|---|
| Total Stock Holdings | 0 |
| Total Bond Holdings | 91 |
Bond Credit Quality - CTXEX
as of 05/31/2013
| AAA | 19.69% | |
|---|---|---|
| AA | 46.12% | |
| A | 28.30% | |
| BBB | 0.94% |
| BB | 0.00% | |
|---|---|---|
| B | 2.09% | |
| Below B | 0.63% | |
| Not Rated | 2.23% |
Top Ten Holdings - CTXEX
as of 05/31/2013
| Company | YTD Return | % of Assets |
|---|---|---|
| Riverside Cnty Calif Single Fa Sing 7.8% | -- | 11.14% |
| Anaheim Calif Pub Fing Auth 6% | -- | 3.47% |
| North City West Calif Sch Facs Rev 5.25% | -- | 2.29% |
| Golden St Tob Securitization C To 5.125% | -- | 2.12% |
| Pomona Calif Ctfs Partn Cops 5.5% | -- | 2.00% |
| Santa Clara Calif Redev Agy Ta Tax Al 5% | -- | 1.94% |
| California Infrasct & Ec First Li 5.125% | -- | 1.93% |
| San Diego Calif Redev Agy Sub-Tax 5.35% | -- | 1.93% |
| Delta Diablo Santn Dist | -- | 1.92% |
| Roseville Calif Nat Gas Fing A Gas Re 5% | -- | 1.63% |
Valuation & Growth - CTXEX
as of 05/31/2013
| Valuation | CTXEX | Category Range |
|---|---|---|
| Price/Earnings | -- | |
| Price/Book | -- | |
| Price/Sales | -- | |
| Price/Cash Flow | -- | |
| Dividend Yield | ||
| LT Earnings | ||
| Historical Earnings | ||
| Sales Growth | ||
| Cash-Flow Growth | ||
| Book-Value Growth |
Key: Lo Hi
Morningstar Summary - CTXEX, 3 Year
| Rate Sensitivity | |||
|---|---|---|---|
| High | |||
| Mid | |||
| Low | |||
 |  |  |
| Rating | vs Category | |
|---|---|---|
| Overall |  | |
| Risk | Below Avg | |
| Return | Avg |
Key: Lo Hi
Tax Analysis - CTXEX, 3 Year Avg
| Pretax Return | 6.12% |
|---|---|
| Tax-adjusted Return | 6.05% |
| Tax Cost Ratio | 0.07% |
| Potential Cap Gains | 7.66% |
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