CMF

iShares California Muni Bond ETF
A

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*Unless otherwise stated, data provided by FactSet.

CMF Fund Description

CMF tracks a market weighted index of investment grade debt issued by California governments and agencies. Interest is exempt from U.S. & California tax and from AMT.

CMF Factset Analytics Insight

CMF's cheap and broad exposure to California municipal bonds resonates strongly with investors. The fund only holds debt issued in California that is exempted from US and California income taxes and the alternative minimum tax (AMT). The overall portfolio closely matches our benchmark's interest and credit risk profile. The slight differences include a bias toward higher credit bonds that notches the yield down somewhat despite an extra bit of interest rate risk. Despite these differences, the fund matches the California muni space better than its peers. CMF can be traded with care in retail quantities, because while daily volume is decent, the spreads can be sizeable. Still, block liquidity comes at a premium due to high hedging costs from less liquid underlying securities. A highly Efficient fund, CMF tracks its index very closely and lags it index by its fee, and often claws back some of its expenses.

CMF Charts And Performance

Price Chart ($)
Total Return Chart (%)
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  • 3 Years
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Select ETFs to compare their performance:
PERFORMANCE [as of 09/16/19] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
CMF -1.05% 1.31% 5.72% 6.96% 2.49% 3.27% 4.02%
CMF (NAV) -1.46% 1.20% 5.78% 6.94% 2.51% 3.24% 4.20%
S&P California AMT-Free Municipal Bond -1.45% 1.23% 5.89% 7.15% 2.73% 3.49% 4.20%
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

CMF Summary Data

Blackrock
iShares
10/04/07
Open-Ended Fund
0.25%
$1.36B
$5.48M
0.05%

CMF Portfolio Data

5.66
--
2.74%
10/01/19
921

CMF Index Data

S&P California AMT-Free Municipal Bond
Market Value
AMT-Free
N/A

CMF Portfolio Management

0.25%
-0.27%
-0.21%
-0.35%

CMF Tax Exposures

20.00% / 39.60%
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Ordinary income
No

CMF Fund Structure

Open-Ended Fund
No
No
80% / 20%
N/A
N/A
Low
Daily
Cboe Book Viewer
Top Of Book
Last 10 Trades
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

CMF Factset Analytics Block Liquidity

As of 09/17/19
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of CMF. CMF is rated a N/A out of 5.

CMF Tradability

89,137
$5.48M
73,867
$4.50M
0.05%
$0.03
0.17%
0.45% / -0.31%
None
100.00%
50,000
1.48
0.01%
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0
$60.72
N/A

CMF Sector/Industry Breakdown


CMF
Segment Benchmark
54.64%
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45.26%
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0.09%
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CMF Top 10 Holdings[View All]

1.37%
0.86%
0.86%
0.67%
0.67%
0.61%
0.60%
0.53%
0.51%
0.48%
7.16%

CMF Top 5 Countries


CMF
Segment Benchmark
100.00%
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CMF Top 5 Currencies


CMF
Segment Benchmark
100.00%
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CMF Performance Statistics

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CMF Holdings Statistics

6.79 years
5.66
2.74%
5.68
High
921
0.33%

CMF Avg Life Maturity Distribution

8.80%
6.32%
9.85%
20.82%
1.96%
1.46%
7.89%

CMF OAS Breakdown

1.85%
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