Limited Term Tax Exempt Bond Fund of America
Limited Term Tax Exempt Bond Fund of America · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Limited Term Tax Exempt Bond Fund of America is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
As filed in the prospectus · 2025 Q3
The funds investment objective is to provide you with current income exempt from regular federal income tax, consistent with the maturity and quality standards described in this prospectus, and to preserve capital.
The fund invests primarily in municipal bonds rated A- or better, or equivalent unrated securities, with a dollar-weighted average effective maturity between one and 10 years, seeking securities that offer attractive long-term value. Up to 20% of assets may be held in private activity bonds subject to the alternative minimum tax. The fund employs multiple portfolio managers, each overseeing segments of the portfolio and selling holdings when they no longer appear relatively attractive.
| Share class | Expense ratio |
|---|---|
| LTEBX | 0.60% |
| LTXCX | 1.30% |
| LTXFX | 0.63% |
| LTEFX | 0.37% |
| C000114837 | 0.26% |
| FLTEX | 0.26% |
| TLTTX | 0.55% |
Portfolio turnover 44.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 100.07% |
| Derivatives | -0.01% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: WISCONSIN (STATE OF), UNIVERSITY OF HOUSTON ×2, NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY, HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP, CALIFORNIA (STATE OF), DORMITORY AUTHORITY OF STATE OF NEW YORK, MICHIGAN STATE FINANCE AUTHORITY
Largest exited: UNITED STATES TREASURY, MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY ×2, UTAH HOUSING CORP, PENNSYLVANIA HSG FIN AGY, WISCONSIN HEALTH & EDUCATIONAL FACILITIES AUTHORITY, MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY, NEW YORK N Y CITY TRANSITIONAL FINANCE AUTH BUILDING AID REV
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +5.19% | +10.46% | +6.57% | 2.67% | -2.43% | |
| +4.45% | +8.15% | +2.89% | 2.67% | -2.77% | |
| +5.15% | +10.36% | +6.39% | 2.67% | -2.45% | |
| +5.43% | +11.25% | +7.83% | 2.67% | -2.32% | |
| +5.55% | +11.61% | +8.40% | 2.67% | -2.26% | |
| +5.55% | +11.61% | +8.41% | 2.67% | -2.26% | |
| +5.51% | +11.49% | +8.25% | 2.67% | -2.28% |
These classes hold the same portfolio, so the 5.51pp spread over 5 years is the cost difference between them — roughly 1.10pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 92.3% |
| Floating rate | 7.7% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.2% |
| 1-3y | 9.3% |
| 3-5y | 10.1% |
| 5-10y | 27.1% |
| 10y+ | 49.3% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 54% |
| Interest rates | 46% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.37 yr |
| High yield | +0.07 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.05 yr | 1% |
| 1 yr | 0.45 yr | 12% |
| 5 yr | 1.47 yr | 38% |
| 10 yr | 1.59 yr | 42% |
| 30 yr | 0.26 yr | 7% |
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.50 yr | 11% |
| 5 yr | 1.79 yr | 40% |
| 10 yr | 1.86 yr | 42% |
| 30 yr | 0.26 yr | 6% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.05 | +0.03 | +0.00 | $17.8k | $1.0k |
| 1 yr | +0.45 | +0.49 | +0.01 | $294.6k | $7.1k |
| 5 yr | +1.47 | +1.76 | +0.03 | $1.06m | $17.6k |
| 10 yr | +1.59 | +1.84 | +0.02 | $1.11m | $14.0k |
| 30 yr | +0.26 | +0.26 | +0.00 | $155.7k | $1.1k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY5.00% · due 2054-05-01 | 0.58% | $35.19M | — |
| — | BLACK BELT ENERGY GAS DIST5.00% · due 2055-12-01 | 0.53% | $32.21M | — |
| — | WISCONSIN (STATE OF)5.00% · due 2029-05-01 | 0.53% | $32.15M | — |
| — | BLACK BELT ENERGY GAS DIST5.00% · due 2055-03-01 | 0.52% | $31.31M | — |
| — | MAIN STREET NATURAL GAS INC GA5.00% · due 2054-12-01 | 0.51% | $30.96M | — |
| — | BLACK BELT ENERGY GAS DIST4.00% · due 2053-04-01 | 0.50% | $30.27M | — |
| — | BLACK BELT ENERGY GAS DIST4.00% · due 2052-10-01 | 0.46% | $27.72M | — |
| — | TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP VI5.00% · due 2036-01-01 | 0.45% | $26.96M | — |
| — | BLACK BELT ENERGY GAS DIST5.00% · due 2035-10-01 | 0.44% | $26.76M | — |
| — | TENNESSEE ENERGY ACQUISITION CORP5.00% · due 2035-12-01 | 0.42% | $25.28M | — |
Top 10 positions are 4.94% of net assets, top 25 10.29%, across 602 issuers.
See more of this fund's book
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