First Trust California Municipal High Income ETF
First Trust California Municipal High ETF (NASDAQ: FCAL) is an exchange-traded fund listed on NASDAQ, trading at $48.22 (about ₹4,535 a unit) as of 6 Nov 2026, 4:00 PM ET. It has an expense ratio of 0.49% and holds 273 securities. Indian residents can buy FCAL through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$48.08
Today's high
$48.24
52 week low
$45.78
52 week high
$50.13
FCAL opened at $48.14, closed previously at $48.08, and has traded between $45.78 and $50.13 over the past 52 weeks.
About
The fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes and California income taxes. It will invest no more than 50% of its net assets in Municipal Securities that are, at the time of investment, not investment grade, commonly referred to as "high yield" or "junk" bonds.
Key statistics
Expense ratio
0.49%
Assets (AUM)
$214.7M
Holdings
273
NAV
$48.25
Avg. volume
29.41K
1-year price change
-2.33%
5-year price change
-11.81%
Price change excludes dividends.
Top 10 holdings
FCAL holds 273 securities in total. These 10 are 10.8% of the fund.
Where the money is invested
Countries
How to buy FCAL from India
Indian residents can buy FCAL units through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers. Read the full guide: how to invest in FCAL from India
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search FCAL and buy
Find the fund by its ticker, FCAL, on NASDAQ, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Track holdings and download tax reports
Follow your FCAL position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Trading and taxes when buying FCAL from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
FAQs
What is the FCAL price today?
First Trust California Municipal High ETF (FCAL) last traded at $48.22 on NASDAQ, as of 6 Nov 2026, 4:00 PM ET. That is ₹4,535 a unit at the 8 Nov 2026 USD/INR rate.
When does FCAL trade, in Indian time?
NASDAQ trades 8:00 pm – 2:30 am IST, so the close lands after midnight. The window shifts to 7:00 pm – 1:30 am IST when the US is on daylight time. Orders can only execute during that window.
How big is FCAL, and what does it cost to hold?
First Trust California Municipal High ETF manages about $214.7M. Its expense ratio is 0.49% a year, deducted inside the fund. It launched in 2017.
What are FCAL's largest holdings?
The top three are SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN 5%, due 05/01/2049 (1.5%), STHRN CA PUBLIC PWR AUTH REV 5%, due 11/01/2033 (1.3%) and STOCKTON-EAST CA WTR DIST 5%, due 03/01/2050 (1.1%). FCAL's 10 largest positions make up 10.8% of the fund.
Does FCAL pay dividends?
Yes. FCAL is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on FCAL taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of FCAL?
Yes. You can buy FCAL by amount rather than by whole unit, and there is no minimum trade size.
How has FCAL performed?
FCAL's price is down 2.3% over the past year and down 11.8% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.