CATF ETF — American Century California Municipal Bond ETF

American Century California Municipal Bond ETF (CATF)

Updated October 16, 2026.

CATF is an ETF. its distribution rate is 2.83%, its trailing-12-month yield is 3.66%, its expense ratio is 0.25%. Dividend Vision Distribution Safety Score™ is 97/100 (Safe). Total return is 2.9% over the past 2.2 years, 38.8 points behind SPY at 41.7%.

American Century California Municipal Bond ETF is an exchange-traded fund that invests at least 80% of its assets in California municipal securities with interest payments exempt from federal and California income taxes. The fund offers a moderate current distribution rate, paid monthly, with a low expense ratio of 0.25%. It may appeal to investors in higher tax brackets seeking tax-exempt income from California-based municipal bonds.

CATF performance versus SPY

Price and return data through 2026-10-16.

Total return is 2.9% over the past 2.2 years, 38.8 points behind SPY at 41.7%. Over the past year its total return — price change plus distributions reinvested — is -0.9%. Its deepest 1-year drawdown was 6.3%.

CATF key facts

Distribution Safety Score™

97 · Safe

Safety-Adjusted Yield

2.75%

Issuer

American Century

Asset type

ETF

Asset class

Fixed Income

Inception date

07/16/2024

Expense ratio

0.25%

Distribution rate

2.83%

Distribution frequency

Monthly

Trailing yield

3.66%

Last close

$47.98 (as of 2026-10-16)

AUM

$140,839,029

Average volume

15886.0

Dividend

$0.113

Ex-dividend date

10/06/2026

Payment date

10/08/2026

How Dividend Vision calculates yield and returns

Distribution rate (2.83%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.66%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: American Century; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

CATF risks and drawbacks

CATF's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.3%.

Who may consider CATF — and who may not

CATF may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on CATF

• All tickers starting with C

Tagged: Fixed Income.

Frequently asked questions

More securities from American Century.