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iShares California Muni Bond ETF

CMF

Market cap $5.13B

54.77 USD

-0.05

0.09%

At close Updated Oct 19, 2:36 PM EDT

1 day

-0.09%

5 days

0.9%

1 month

-0.62%

3 months

-4.01%

6 months

-4.7%

Year to date

-4.75%

1 year

-4.83%

5 years

-11.56%

10 years

-8.12%

News

Positive

Neutral

Negative

Sentiment 3-Months

Positive 50%

Neutral 0%

Negative 50%

24/7 Wall Street

Live in New York or California? These State Muni ETFs Keep Thousands More of Every $10,000 in Interest Than a National Fund

State income taxes can quietly erase a meaningful slice of municipal bond interest even when federal taxes are off the table. Where you live and which bonds you own may matter far more than most income investors realize.

Live in New York or California? These State Muni ETFs Keep Thousands More of Every $10,000 in Interest Than a National Fund

24/7 Wall Street

Why a California Retiree Holding BND Is Paying State Tax This Muni ETF Would Skip

California retirees comparing bond ETFs by headline yield alone could be leaving meaningful income on the table, and the culprit hides in plain sight inside a perfectly ordinary tax bill.

Why a California Retiree Holding BND Is Paying State Tax This Muni ETF Would Skip

JPMorgan Converts $950M to Active NY, CA Muni ETFs

This week J.P. Morgan Asset Management launched two actively managed municipal bond ETFs focused on California and New York debt, offering investors a way to earn tax-free income inside a more flexible and transparent fund structure.

JPMorgan Converts $950M to Active NY, CA Muni ETFs

24/7 Wall Street

The Tax Free Muni Bond Portfolio That Replaces a $75,000 Salary at $1.6 Million Invested

A $75,000 salary sits at the top of the U.S. median household range, but for a retiree in a high federal and state bracket, replacing it with taxable income means earning much more before Uncle Sam takes his cut.

The Tax Free Muni Bond Portfolio That Replaces a $75,000 Salary at $1.6 Million Invested

24/7 Wall Street

Your Treasury Income May Already Be Paying California, Unless You're Holding It in This ETF

Tony Dong is the founder of ETF Portfolio Blueprint.

Your Treasury Income May Already Be Paying California, Unless You're Holding It in This ETF

CMF: California Should Be Fine, But Not Crazy About The Duration

The iShares California Muni Bond ETF (CMF) offers exposure to intermediate-duration bonds that seem to be resilient in terms of credit rating though in a cross-current. CMF's performance closely tracks the broader iShares Muni ETF (MUB). Risks include potential federal funding freezes, trade policy impacts, and duration sensitivity. The former two risks are at least mitigated in agency and public utility exposures.

CMF: California Should Be Fine, But Not Crazy About The Duration

CMF: Only For Californians And Even Then

CMF is only suitable for high-income California residents seeking tax-free income, due to its structure and the state's high tax rates. The fund offers broad diversification, low fees, and strong liquidity, but its yield is only compelling at the top tax brackets. Munis pay lower coupons because tax breaks attract high earners, pushing yields down for everyone else—making CMF unattractive for most investors.

CMF: Only For Californians And Even Then

Municipal Bond Funds: Time To Shine Or Curtain Call?

Municipal bonds are back to offer compelling risk-adjusted opportunities, but future decisions from Washington can either act as a tailwind or headwind. Municipal bond funds saw net inflows during 2024, first annual inflow since 2021—which was a record year. 2024 was a record year in municipal bond issuance. With attractive yields, the market may start to pay more attention to tax-equivalent yield advantages offered through municipal debt.

Municipal Bond Funds: Time To Shine Or Curtain Call?

CMF: Good For California Residents

The iShares California Muni Bond ETF offers tax-free income with a low expense ratio of 0.08%, focusing on high-quality California municipal bonds. The fund is highly diversified, with the largest bond allocation at just 0.77%, and focuses on key services like schools and utilities. With 81% of the portfolio rated AA, the ETF provides stability and steady income, boasting a 30-day SEC yield of 3.2%.

CMF: Good For California Residents

Municipal Fixed Income: Shelter From The Storm?

Specific to the muni market, perhaps the biggest surprise this year has been new issue supply that is running well ahead of expectations, up roughly 40% from last year. We think this increased summer issuance is likely the result of deals getting pulled forward, as issuers may be cautious about coming to market later in the fall ahead of what is likely to be an uncertain U.S. political climate. While municipal credit quality has already peaked, it is entering this period of moderating economic growth from a position of strength.

Municipal Fixed Income: Shelter From The Storm?

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