iShares California Muni Bond ETF
$54.49−0.54 (−0.99%)
- Expense ratio
- 0.08%
- Fund size
- $4.7B
- 1Y return
- −0.7%
- Yield · Last 12 months
- 3.07%
- Holdings
- 1755
- Volume · 30D
- 0.7M sh
- NAV per share
- $54.97
- 52W range
The ETF.net CMF Grade
Score 79 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.AScore 92Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 41Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 61Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 74Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 92Category rank
Our read on CMF
AThe California-only corner of the muni market, indexed since 2007 and priced at 0.08%. CMF holds bonds issued by California and its municipalities, tracks an AMT-free index, and pays monthly.
The Fund seeks to track an index of California municipal bonds. It uses representative sampling and generally invests in municipal securities issued by California and its municipalities.
Why people hold it
- 0.08% a year, a fraction of what the typical muni bond fund in its category charges. On a tax-exempt income stream, the fee is the part you actually control.
- The benchmark is the ICE AMT-Free California Municipal Index, so bonds whose interest counts toward the federal alternative minimum tax are screened out.ishares.com
- Follows that index tightly using representative sampling, and ranks among the strongest implementations in the muni ETF group.
- Running since 2007, with assets in the billions and cash paid out monthly.
Worth knowing
- One state's credit, one state's budget cycle. National muni funds (MUB, VTEB) spread tax-exempt exposure across the whole country instead.
- Moderately traded next to the national muni names, so limit orders earn their keep on bigger tickets.
- It is a bond portfolio, not a savings account: prices move as interest rates move, and longer maturities move most.
CMF Holdings
- Bonds
- 1,755
- 4%
- LOS ANGELES CALIF UNI SCH DIST 5.00% 07/01/2034
Geography
- United States100.00%
CMF Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
CMF$9,933
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.
| Period | CMF |
|---|---|
| Year to date | −2.3% |
| 1 month | −2.4% |
| 3 months | −3.6% |
| 1 year | −0.7% |
| 3 years | +2.6% |
| 5 years | −0.1% |
| 10 years | +1.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CMF |
|---|---|---|
| 2026 YTD | −2.3% | |
| 2025 | +3.4% | |
| 2024 | +1.6% | |
| 2023 | +5.7% | |
| 2022 | −8.3% | |
| 2021 | +0.8% | |
| 2020 | +4.5% |
CMF in the news
CMF Dividends
- 3.07%
- $1.69
- $0.14 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.14 |
| Aug 3, 2026 | Aug 6, 2026 | $0.14 |
| Jul 1, 2026 | Jul 7, 2026 | $0.14 |
| Jun 1, 2026 | Jun 4, 2026 | $0.14 |
| May 1, 2026 | May 6, 2026 | $0.14 |
| Apr 1, 2026 | Apr 7, 2026 | $0.14 |
| Mar 2, 2026 | Mar 5, 2026 | $0.14 |
| Feb 2, 2026 | Feb 5, 2026 | $0.14 |
| Dec 19, 2025 | Dec 24, 2025 | $0.14 |
| Dec 1, 2025 | Dec 4, 2025 | $0.14 |
| Nov 3, 2025 | Nov 6, 2025 | $0.14 |
| Oct 1, 2025 | Oct 6, 2025 | $0.14 |
CMF Risk
- 5.1%
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.
- −0.31
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.
- −12.2%
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.
- 0.94
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CMF Cost
0.08%
CMF0.08%
- The middle half of Other Municipal Bond funds
- Median 0.30%
5 of the 62 Other Municipal Bond funds charge less.