CAM vs EVIM

CAMAAB California Intermediate Municipal ETF

EVIMAEaton Vance Intermediate Municipal Income ETF

In short

CAM An 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.

EVIM Active muni management at index-fund pricing. Eaton Vance charges 0.11% for a federally tax-exempt, intermediate-maturity bond portfolio built by bond pickers instead of copied from a benchmark.

Stated mandate

CAM 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.

EVIM The fund seeks income through a diversified portfolio of debt securities whose interest is exempt from regular federal income tax, with at least 80% of assets committed to that municipal-bond strategy.

Why people hold it

• CAM Built 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
• 0.27% a year sits under the median muni ETF fee, which is unusual for a fund with live managers picking the bonds.
• Duration is steered to a 3.5 to 7 year band, so it stays intermediate by design rather than drifting long when yields tempt.
• Roughly 400 holdings and multi-billion-dollar scale sit behind it, and it lands in the upper half of a crowded muni-bond field.

• EVIM Charges 0.11% a year against a roughly 0.30% muni-ETF median. That is a hands-on bond desk priced in index-fund territory.
• At least 80% of assets go to munis whose interest is exempt from regular federal income tax, with room for up to 20% in taxable munis and Treasuries.aaii.com
• Income lands monthly, and the core of it escapes regular federal income tax.
• Diversified core muni exposure across sectors, states and credit tiers, and one of the stronger implementations in a crowded tax-exempt bond field.eatonvance.com

Worth knowing

• CAM One 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.
• Broad index rivals like VTEB and MUB charge single-digit basis points. Active security selection here costs more than the cheapest shelf in the category.
• Launched in 2025, so the live track record is short and there is limited history to judge how the managers handle a full rate cycle.

• EVIM Index rivals cost less: VTEB and SCMB at 0.03%, MUB at 0.05%. The gap is what the active team costs.
• Trades lighter than the household-name index munis, so spreads can widen and limit orders matter more.
• Launched in 2023, so the record is short, and results trace back to the manager's bond selection rather than a published index.aaii.com

Full CAM profile⁠

Full EVIM profile⁠