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CAM

GradeANew York Stock Exchange Arca

Alliance Bernstein - AB California Intermediate Municipal ETF

Municipal Bond · Alliance Bernstein · Inception 2025-10-03

$24.27−0.14 (−0.57%)

As of Sep 23, 2026, 2:15 PM EDT

History starts Oct 6, 2025.History starts Oct 6, 2025.
Intraday session: down, 30 prints from 24.41 to 24.27. Range 24.27 to 24.42. Use the arrow keys to read each point.$24.30$24.35$24.4010 AM12 PM2 PM4 PM
Expense ratio
0.27%
Fund size
$1.2B
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
423
Volume · 30D
0.1M sh
NAV per share
$24.41
52W range
low $24.39high $25.61

The ETF.net CAM Grade

A

70/ 100

Rank 5 of 20 in Intermediate Municipal Bonds⁠

Confidence High

Six-pillar profile for CAM. Scores out of 100: Cost 68, Risk 59, Mission 93, Tradability 79, Holdings 34, Durability 60. Strongest: Mission (93). Weakest: Holdings (34). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 70 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 68
    Category rank6/20 · top 30%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 93
    Category rank11/19 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 59
    Category rank5/20 · top 25%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 79
    Category rank4/20 · top 20%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 34
    Category rank15/20 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 60
    Category rank7/20 · top 35%

Graded as of Sep 22, 2026

Our read on CAM

ETF.net Research

AAn actively run California muni portfolio in ETF form: roughly 400 bonds chosen to keep income out of both federal and California state tax, with duration steered to the 3.5 to 7 year middle lane.

Stated mandate

The fund seeks to preserve principal and maximize total return after federal and state taxes for California residents. It actively invests primarily in California municipal bonds and targets a 3.5–7 year duration.

Why people hold it

  1. 01Built around California residents specifically: the mandate targets total return after federal and state taxes, not just the federal exemption every national muni fund offers.alliancebernstein.com
  2. 020.27% a year sits under the median muni ETF fee, which is unusual for a fund with live managers picking the bonds.
  3. 03Duration is steered to a 3.5 to 7 year band, so it stays intermediate by design rather than drifting long when yields tempt.
  4. 04Roughly 400 holdings and multi-billion-dollar scale sit behind it, and it lands in the upper half of a crowded muni-bond field.

Worth knowing

  1. 01One state's issuers and budget cycle drive the whole portfolio. National muni funds spread that across all 50, and the tax edge only lands for California taxpayers.
  2. 02Broad index rivals like VTEB and MUB charge single-digit basis points. Active security selection here costs more than the cheapest shelf in the category.
  3. 03Launched in 2025, so the live track record is short and there is limited history to judge how the managers handle a full rate cycle.

CAM Holdings

As of Sep 20, 2026, 7:29 AM
Asset class
Bonds
Holdings
423
Top-10 weight
16%
Largest holding
LOS ANGELES CA LOS 06/27 FIXED 53.4%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 29.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—LOS ANGELES CA LOS 06/27 FIXED 53.41%40,000,000$41M14
002—LOS ANGELES CNTY CA LOS 06/27 FIXED 52.56%30,000,000$31M7
003—CALIFORNIA CMNTY CHOICE FING A CCEDEV 01/54 ADJUSTABLE VAR1.48%17,000,000$18M13
004—SS3DYT1 IRS USD R F 4.00350 IS3DYT1 CCPOIS1.47%18,000,000$17M1
005—CALIFORNIA CMNTY CHOICE FING A CCEDEV 02/54 ADJUSTABLE VAR1.46%16,770,000$17M17
006—CALIFORNIA ST INFRASTRUCTURE CA INFRASTRUCTURE C1.36%16,200,000$16M9
007—CALIFORNIA CMNTY CHOICE FING A CCEDEV 01/56 ADJUSTABLE VAR1.25%14,250,000$15M8
008—SAN FRANCISCO CA CITY CNTY AR SFOAPT 05/35 FIXED 51.16%13,000,000$14M2
009—LOS ANGELES CA DEPT ARPTS ARPT LOSAPT 05/43 FIXED 5.251.14%13,120,000$14M2
010—BS377Y9 IRS USD R V 12MUSCPI IS377Z0 CCPINFLATIONZERO1.13%13,413,000$13M1
011—BAY AREA CA TOLL AUTH TOLL BRI BAYTRN 04/56 FLOATING VAR1.12%13,415,000$13M3
012—CALIFORNIA CMNTY CHOICE FING A CCEDEV 11/55 ADJUSTABLE VAR1.10%13,000,000$13M10
013—RIVERSIDE CNTY CA RIV 06/27 FIXED 51.04%12,235,000$12M6
014—BS37JR6 IRS USD R V 00MSOFR IS37JS7 CCPOIS0.98%11,700,000$12M1
015—BS3DP98 IRS USD R V 12MUSCPI IS3DPA9 CCPINFLATIONZERO0.98%11,700,000$12M5

Showing 1–15 of 433 holdings

CAM Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CAM$9,939
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. CAM $9,939. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CAM. Periods over one year show the average yearly return.
PeriodCAM
Year to date−0.6%
1 month−1.5%
3 months−2.1%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CAM
YearReturn barCAM
2026 YTD−0.6%
2025+1.1%

History from Oct 6, 2025

CAM in the news

CAM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.06 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 11 payments from 2025 to 2026 YTD. Nov 3, 2025 $0.07; Dec 1, 2025 $0.07; Dec 31, 2025 $0.08; Feb 2, 2026 $0.08; Mar 2, 2026 $0.07; Apr 1, 2026 $0.07; May 1, 2026 $0.07; Jun 1, 2026 $0.06; Jul 1, 2026 $0.06; Aug 3, 2026 $0.06; Sep 1, 2026 $0.06. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 4, 2026$0.06
Aug 3, 2026Aug 6, 2026$0.06
Jul 1, 2026Jul 7, 2026$0.06
Jun 1, 2026Jun 4, 2026$0.06
May 1, 2026May 6, 2026$0.07
Apr 1, 2026Data unavailable$0.07
Mar 2, 2026Data unavailable$0.07
Feb 2, 2026Data unavailable$0.08
Dec 31, 2025Data unavailable$0.08
Dec 1, 2025Data unavailable$0.07
Nov 3, 2025Data unavailable$0.07

CAM Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Oct 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Oct 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Oct 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.60
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

CAM Cost

Expense ratio0.27%
  • The middle half of Intermediate Municipal Bonds funds
  • Median 0.35%

4 of the 19 Intermediate Municipal Bonds funds charge less.

CAM costs $27.00 a year on $10,000. The median Intermediate Municipal Bonds fund costs $35.00.