# Portfolio overlap — FCQAX vs TACAX Comparing **Franklin California High Yield Municipal Fund** (2026-02-28) and **California Municipal Bond Fund** (2026-02-28). - Shared positions: 67 - Franklin California High Yield Municipal Fund covered by California Municipal Bond Fund: 0.06822624207379857089667897563 - California Municipal Bond Fund covered by Franklin California High Yield Municipal Fund: 0.06822624207379857089667897566 ## Franklin California High Yield Municipal Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | LOMA LINDA UNIVERSITY MEDICAL CENTER OBLIGATED GROUP 5.25% 12-01-56 | 0.014109 | | | San Joaquin Hills Transportation Corridor Agency, Series 1997 A | 0.012970 | | | GRND CANYON UNIV | 0.012717 | | | Foothill-Eastern Transportation Corridor Agency, Series 2013 A | 0.012699 | | | M-S-R Energy Authority, Series 2009 B, RB | 0.012470 | ✓ | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 E, RB | 0.010776 | | | Los Angeles Housing Authority, Series 2024 B | 0.010054 | | | CMFA Special Finance Agency Enclave, Series 2022 A-2 | 0.008719 | | | RESTRUCTURED-SER A-2 | 0.008545 | ✓ | | CMFA SPL FIN AGY XII CA ESSENT REGD OID B/E 4.37500000 | 0.008070 | | | San Diego Unified School District, Series 2010C | 0.008019 | | | KAISER FOUNDATION HOSPITALS 5.0% 11-01-47 | 0.007493 | | | SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE | 0.007466 | ✓ | | CALIFORNIA ST MUNI FIN AUTH REVENUE | 0.006895 | | | GOLDEN ST CONNECT | 0.006857 | | | California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A | 0.006767 | | | CHANNELSIDE WATER RESOURCES LP 5.0% 11-21-45 | 0.006692 | | | UNIV OF CALIFORNIA CA REVENUES | 0.006640 | | | FOOTHL/EASTN CA 3.95% 1/15/2053 | 0.006503 | | | CALIFORNIA ST CMNTY CLG FING AUTH STUDENT HSG REVENUE | 0.006465 | ✓ | | California Municipal Finance Authority, Series 2023 B-1 | 0.006396 | | | Los Angeles Department of Water, Series 2020 A | 0.005957 | | | CSCDA COMMUNITY IMPROVEMENT AUTHORITY WOOD CREEK APARTMENTS 4.0% 12-01-59 | 0.005731 | | | SAN JOAQUIN JR LIEN | 0.005693 | | | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST | 0.005495 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 | 0.005483 | | | CALIFORNIA HSG FIN AGY LTD OBLIG MF HSG REVENUE | 0.005329 | | | California Community Housing Agency, Series A | 0.005311 | | | Rio Hondo Community College District, Series 2010C | 0.005091 | | | California Municipal Finance Authority, Series 2023 B | 0.005064 | | | Irvine Ranch Water District, Series B | 0.005024 | | | State of California Department of Water Resources, Series 2026A | 0.004965 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.004913 | | | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE | 0.004869 | | | Los Angeles Department of Water & Power Water System, Series B | 0.004860 | | | Maricopa County Industrial Development Authority, Series 2024 | 0.004539 | | | RESTRUCTURED-SER A1 | 0.004536 | | | Anaheim Housing & Public Improvements Authority, Series 2024-A | 0.004469 | | | CALIFORNIA ST MUNI FIN AUTH REVENUE | 0.004361 | | | CALIFORNIA COMMUNITY HOUSING AGENCY VERDANT AT GREEN VALLEY APARTMENTS 5.0% 08-01-49 | 0.004350 | | | California Municipal Finance Authority, Series 2022 A-1 | 0.004337 | | | FHLMC, Multi-family ML Pass-Through Certificates, Series 2020-ML07, Class XCA | 0.004260 | | | CA SCH FIN AUTH -A | 0.004253 | | | San Joaquin Hills Transportation Corridor Agency, Series B | 0.004253 | | | California Municipal Finance Authority, Series 2023 B-2 | 0.004246 | | | CALIFORNIA COMMUNITY VAR | 0.004183 | | | University of California, Series 2025 CC, RB | 0.004182 | | | California Municipal Finance Authority, Series 2025 B | 0.004140 | | | GDB Debt Recovery Authority of Puerto Rico | 0.004139 | | | St. Helena Unified School District, Series 2011 B | 0.004096 | | ## California Municipal Bond Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE | 0.025110 | | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2025 A, RB | 0.022063 | ✓ | | Sacramento (County of), CA, Series 2024, RB | 0.014855 | ✓ | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.013415 | ✓ | | UNIV OF CALIFORNIA-BV | 0.013228 | | | California Community Choice Financing Authority, Series F | 0.013151 | | | CA ST UNIV-A-REF | 0.011847 | | | JH COLLATERAL | 0.010813 | | | SAN FRANCISCO CITY & COUNTY PUBLIC UTILITIES COMMISSION 4.0% 11-01-50 | 0.009795 | | | LOS ANGELES DEPT-D | 0.009733 | | | COMMONSPIRIT HEALTH OBLIGATED GROUP 5.25% 12-01-49 | 0.009549 | ✓ | | GARDEN GROVE PUBLIC FINANCING GARGEN 04/49 FIXED 5 | 0.009362 | | | Los Angeles Department of Water & Power Water System, Series 2020B | 0.009192 | | | SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE | 0.008767 | ✓ | | UNITED AIRLINES INC 4.0% 07-15-29 | 0.008385 | | | CALIFORNIA ST EDUCTNL | 0.008312 | | | Los Angeles (City of), CA, Series 2025, RB | 0.007871 | | | CA CCEDEV 5 03/01/2036 | 0.007794 | ✓ | | CALIFORNIA ENTERPRISE DEVELOPM CASDEV 06/40 FIXED OID 4 | 0.007521 | | | CA ST UNIV-A-REF | 0.007107 | | | ALVORD USD-B-CABS | 0.007093 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.25000000 | 0.006825 | | | California Community Choice Financing Authority, Series F | 0.005936 | | | Inland Empire Tobacco Securitization Corp., Series 2007C-1 | 0.005671 | | | Savanna School District, Series B | 0.005647 | | | PRS-CALIFORNIA OBLIGATED GROUP 5.0% 04-01-49 | 0.005557 | ✓ | | CA PCFA WTR FUR 5% 11/21/2045 | 0.005474 | | | California Educational Facilities Authority, Revenue Bonds, Master's University, Series 2025 | 0.005265 | | | ANAHEIM UNION HIGH SCHOOL DIST ANASCD 08/38 FIXED 3 | 0.005074 | | | DESERTXPRESS ENTERPRISES LLC (MPT) 12.0% 01-01-65 | 0.005011 | ✓ | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.004989 | ✓ | | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE | 0.004955 | | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.004847 | | | CITY OF GLENDALE CA ELECTRIC R GLEPWR 02/45 FIXED 5 | 0.004698 | | | ROCKLIN ACADEMY OBLIGATED GROUP 5.0% 06-01-64 | 0.004629 | ✓ | | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/48 FIXED 5 | 0.004531 | | | CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE | 0.004520 | ✓ | | EISENHOWER MEDICAL CENTER 5.0% 07-01-47 | 0.004464 | | | GOLDEN ST TOBACCO SECURITIZATI REGD B/E 5.00000000 | 0.004445 | | | TEJON RANCH PUBLIC FACILITIES TEJFAC 09/54 FIXED 5 | 0.004425 | ✓ | | CALIFORNIA COMMUNITY VAR | 0.004401 | ✓ | | P3 IRVINE SL HOLDINGS LLC OBLIGATED GROUP 6.5% 06-01-54 | 0.004361 | | | RESTRUCTURED-SER A1 | 0.004333 | ✓ | | REDONDO BEACH UNIFIED SCHOOL D RDBSCD 08/50 FIXED 5 | 0.004328 | | | PALMDALE WATER DISTRICT PUBLIC PWDWTR 10/49 FIXED OID 4 | 0.004296 | | | Chaffey Joint Union High School District (Election of 2012), Series 2023 G, GO Bonds | 0.004172 | | | W HOLLYWOOD FING AUTH | 0.004081 | | | LONG BEACH UNIF SD | 0.004046 | | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.003998 | | | CALIFORNIA COMMUNITY VAR | 0.003989 | | ## Sources - N-PORT (fund A) — accession `0002071691-26-008624` (as of 2026-02-28) - N-PORT (fund B) — accession `0001193125-26-184466` (as of 2026-02-28) --- _Informational only — not investment advice. 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