Morningstar

Nomura Tax-Free California Fund Class A DVTAX

Morningstar Medalist Rating
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Medalist Rating as of See Nomura Investment Hub
  • NAV / 1-Day Return $10.25  /  +0.20 %
  • Fund Size $178.1M
  • Adjusted Expense Ratio 0.800%
  • Net Expense Ratio 0.810%
  • Fee Level: Distribution Above Average
  • Share Class Type Front Load
  • Morningstar Category Muni California Long
  • Fixed-Income Style Box (Funds) —
  • Minimum Initial Investment $1,000
  • Investment Status Open
  • TTM Yield 4.35%
  • Average Effective Duration 9.65 yrs
NAV and 1-Day Return as of

Morningstar’s Analysis DVTAX

Will DVTAX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable DVTAX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the DVTAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of DVTAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Automated Analysis

Morningstar Automated Analysis

Summary

Nomura Tax-Free California A holds a quantitatively derived Negative Morningstar Medalist Rating. The rating indicates the model sees limited potential for the strategy to outperform peers on a risk-adjusted basis over a full market cycle.

by Morningstar Automated Analysis
Rated on Published on

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Portfolio Holdings DVTAX

More DVTAX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 16.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PUERTO RICO SALES TAX FING CORP SALES TAX REV 0%

3.17 8M
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

2.23 6M
municipal

CALIFORNIA HEALTH FACS FING AUTH REV 4%

1.65 4M
municipal

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 5.25%

1.47 4M
municipal

CALIFORNIA EDL FACS AUTH REV 5%

1.47 4M
municipal

SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN WTR REV 5.25%

1.41 4M
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.5%

1.40 4M
municipal

GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO 7.5%

1.40 4M
municipal

CALIFORNIA ST UNIV REV 3%

1.36 4M
municipal

LOS ANGELES CALIF DEPT WTR & PWR REV 5%

1.36 4M
municipal

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