# Portfolio overlap — CAYAX vs PCTEX Comparing **California High-Yield Municipal Fund** (2026-02-28) and **Putnam California Tax Exempt Income Fund** (2025-09-30). - Shared positions: 64 - California High-Yield Municipal Fund covered by Putnam California Tax Exempt Income Fund: 0.1012190554457825833619434860 - Putnam California Tax Exempt Income Fund covered by California High-Yield Municipal Fund: 0.1012190554457825833619434861 ## California High-Yield Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | California Community Choice Financing Authority, Series F | 0.013613 | | | California (State of) Infrastructure & Economic Development Bank (Clean Water Revolving Fund) (Green Bonds), Series 2023, RB | 0.009677 | | | California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs. | 0.009304 | ✓ | | LOMA LINDA UNIVERSITY MEDICAL CENTER OBLIGATED GROUP 5.25% 12-01-56 | 0.009070 | ✓ | | PALOMAR HLTH-REF | 0.009044 | | | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A | 0.008531 | | | New Hampshire Business Finance Authority, Series 4, Class A | 0.008193 | ✓ | | SILICON VLY CA TOBACCO SECURIT SILGEN 06/36 ZEROCPNOID 0 | 0.007658 | | | CSCDA Community Improvement Authority, Series 2020 A | 0.006896 | | | CSCDA Community Improvement Authority, Series A-2 | 0.006656 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2023, RB | 0.006630 | | | Paradise Unified School District 4.88% 05/01/2054 | 0.006598 | | | STHRN CA PUB PWR AUTH | 0.006417 | | | CALIFORNIA HSG FIN AGY LTD OBLIG MF HSG REVENUE | 0.006398 | | | CA STWD 5% 12/1/2046 | 0.006089 | | | CA PUB FIN AUTH-B1 | 0.006072 | | | CALIFORNIA COMMUNITY VAR | 0.005959 | | | California Community Choice Financing Authority, Series F | 0.005853 | ✓ | | COMMONSPIRIT HEALTH OBLIGATED GROUP 4.0% 04-01-49 | 0.005360 | | | CA ST MFA REV 5% 11/1/46 | 0.005093 | | | American Century California Municipal Bond ETF | 0.005032 | | | Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016 | 0.005025 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.005011 | | | CALIFORNIA ST STWD CMNTYS DEV REGD B/E 5.00000000 | 0.004742 | ✓ | | Foothill-Eastern Transportation Corridor Agency, Series 2021 A, Ref. RB | 0.004657 | | | HASTINGS CAMPUS HSG FIN AUTH CA CAMPUS HSG REVENUE | 0.004536 | | | CALIFORNIA ST STWD CMNTYS DEV AUTH SPL TAX REVENUE | 0.004533 | | | Peninsula Corridor Joint Powers Board Measure RR Sales Tax, Series 2022A | 0.004491 | | | LOS ANGELES DEPT-C | 0.004447 | | | City of San Francisco, Series 2023AB | 0.004417 | | | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, 1818 Platinum Triangle-Anaheim, Social Bond Series 2021A-2 | 0.004393 | ✓ | | Alameda Corridor Transportation Authority, Series C | 0.004385 | | | CA ST UNIV TRUSTEES-A | 0.004152 | | | CA MUNI FIN AUTH | 0.004129 | | | HASTINGS CAMPUS HSG FIN AUTH C REGD B/E 5.00000000 | 0.004063 | ✓ | | Orange County Community Facilities District 5.00% 08/15/2041 | 0.004043 | | | ROSEVILLE CA SPL TAX | 0.004020 | | | CSCDA COMMUNITY IMPROVEMENT AUTHORITY ESCONDIDO PORTFOLIO 4.0% 12-01-59 | 0.004000 | | | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE | 0.003996 | | | TRANSBAY JT PWRS-A | 0.003978 | | | BAY AREA TOLL AUTHORITY FRN 04-01-59 | 0.003924 | | | CSCDA Community Improvement Authority, Series 2021 A-2 | 0.003857 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.003736 | ✓ | | STHRN CA PUB PWR AUTH | 0.003727 | | | CA PUB FIN AUTH-B2 | 0.003700 | | | RESTRUCTURED-SER A-2 | 0.003572 | | | California Infrastructure & Economic Development Bank 5.00% 11/01/2031 | 0.003535 | | | City of Rialto CA 5.25% 09/01/2060 | 0.003513 | | | CALIFORNIA ST MUNI FIN AUTH REVENUE | 0.003477 | | | HUMANGOOD CALIFORNIA OBLIGATED GROUP 4.0% 10-01-49 | 0.003435 | | ## Putnam California Tax Exempt Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | California State Public Works Board (TOBs) | 0.018612 | | | Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2018 A, RB | 0.015506 | | | CHANNELSIDE WATER RESOURCES LP 5.0% 11-21-45 | 0.015354 | | | FREDDIE MAC MULTIFAMILY ML CERTIFICATES SER 2019-ML05 CL ACA 3.35000000 | 0.014701 | | | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Green Series 2022G | 0.014085 | | | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/48 FIXED 5 | 0.013623 | ✓ | | New Hampshire Business Finance Authority, Series 4, Class A | 0.013222 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.012892 | ✓ | | Chabot-Las Positas Community College District, Series C | 0.011479 | ✓ | | SAN DIEGO HSG AUTH-E | 0.011406 | | | CA MUNI FIN AUTH-A | 0.011393 | | | M-S-R Energy Authority, Series A | 0.011331 | | | San Francisco City & County Public Utilities Commission Power, Series 2023A | 0.011212 | | | Los Angeles Department of Water & Power, Series 2022A | 0.011066 | | | CALIFORNIA ST STWD CMNTYS DEV REGD B/E 5.00000000 | 0.010909 | | | CHF-DAVIS II LLC BAM 3.0% 05-15-51 | 0.010587 | | | SWEETWATER UNION HIGH SCHOOL D SWESCD 08/52 FIXED 5 | 0.010515 | | | CALIFORNIA COMMUNITY VAR | 0.010397 | | | NRTHRN CA ENRGY | 0.009988 | | | CA ST MFA COP 5.25% 11/1/2052 | 0.009451 | ✓ | | State of California | 0.009127 | | | CA MUN FIN AUTH | 0.009033 | | | LOS ANGELES DEPT OF W | 0.008987 | | | Alameda Corridor Transportation Authority, Series 2022A | 0.008875 | | | California Community Choice Financing Authority, Series F | 0.008389 | ✓ | | CSCDA Community Improvement Authority, Series 2021 A-2 | 0.008281 | ✓ | | Long Beach (City of), CA Bond Finance Authority, Series 2007 A, RB | 0.008219 | | | CSCDA Community Improvement Authority, Series A-2 | 0.008151 | | | CHF-RIVERSIDE I LLC 5.0% 05-15-43 | 0.008045 | | | California (State of) School Finance Authority (Green Dot Public Schools), Series 2018 A, RB | 0.008013 | ✓ | | California Community Housing Agency, Series A-1 | 0.007983 | | | CA MUNI FIN AUTH-A | 0.007776 | | | California Infrastructure & Economic Development Bank, Series 2022 B | 0.007733 | | | GOLDEN ST TOBACCO SECURITIZATI REGD B/E 5.00000000 | 0.007600 | ✓ | | California County Tobacco Securitization Agency, Series 2014 | 0.007472 | | | SF BART/MTC 3% 8/1/49 | 0.007398 | | | Grays Harbor Public Hospital District 1, Washington, Revenue Bonds, Summit Pacific Medial Center Series 2023 | 0.007315 | | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.007197 | | | FREDDIE MAC MULTIFAMILY ML CERTIFICATES SER 2024-ML25 CL ACA V/R 3.54109800 | 0.007190 | | | COLBURN SCHOOL (MPT) 1.75% 08-01-55 | 0.006982 | | | HUMANGOOD CALIFORNIA OBLIGATED GROUP 4.0% 10-01-44 | 0.006779 | | | City of Los Angeles CA | 0.006756 | | | INDIO PUB FING AUTH-A | 0.006659 | | | South Tahoe Joint Powers Financing Authority, Series 2023 A, RB | 0.006598 | ✓ | | California (State of) Educational Facilities Authority (University of the Pacific), Series 2023, RB | 0.006385 | | | California Community Housing Agency, Series 2020 A | 0.006192 | | | California (State of) School Finance Authority (Granada Hills Charter Obligated Group), Series 2019, RB | 0.006189 | | | SAN FRANCISCO BAY-F1 | 0.005979 | | | Putnam Short Term Investment Fund, Class P | 0.005918 | | | S TAHOE CA JT PWRS FING AUTH L STHPWR 10/48 FIXED 5.25 | 0.005810 | | ## Sources - N-PORT (fund A) — accession `0001193125-26-189892` (as of 2026-02-28) - N-PORT (fund B) — accession `0002071691-25-006482` (as of 2025-09-30) --- _Informational only — not investment advice. 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