CMF

iShares California Muni Bond ETF

$57.35

+0.00%

Market closed. Last update: 10:50 PM ET

📎 Investment Objective

The iShares California Muni Bond ETF (CMF) seeks to track the investment results of an index composed of investment-grade municipal bonds issued in the state of California.

Overview

ETF tracking iShares California Muni Bond ETF

Category Municipal Bonds

Issuer BlackRock

Inception Date 2008-11-06

Market Cap $3.4B

Average Volume N/A

Dividend Yield 2.46%

52-Week Range $54.52 - $58.08

VWAP $57.41

Performance

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Price Chart

Investment Summary

📎 Investment Objective

The iShares California Muni Bond ETF (CMF) seeks to track the investment results of an index composed of investment-grade municipal bonds issued in the state of California.

🎯 Investment Strategy

The ETF invests in a diversified portfolio of California municipal bonds, seeking to provide income exempt from federal and California state income taxes. The fund's holdings are designed to track the S&P California AMT-Free Municipal Bond Index, which includes bonds with maturities of at least one year.

✨ Key Features

Exposure to investment-grade California municipal bonds
Tax-exempt income for California residents
Low expense ratio of 0.00%
Tracks the S&P California AMT-Free Municipal Bond Index

⚠️ Primary Risks

Interest rate risk: The value of the bonds may decline as interest rates rise
Credit risk: The risk of default or downgrade by the bond issuers
Concentration risk: The fund's focus on California municipal bonds makes it vulnerable to economic and political conditions in the state
Liquidity risk: Potential difficulty in selling the fund's holdings

👤 Best For

This ETF may be suitable for California-based investors seeking tax-exempt income and exposure to the California municipal bond market. It may be appropriate as a core fixed income holding or for diversification within a broader investment portfolio.

Top Holdings

Rank	Name	Weight	Sector
1	UNIVERSITY CALIF REVS	0.63%	Education
2	LOS ANGELES CALIF UNI SCH DIST	0.58%	School Districts
3	CALIFORNIA EDL FACS AUTH REV	0.54%	Education
4	CALIFORNIA ST UNIV REV	0.53%	Education
5	ANAHEIM CALIF HSG & PUB IMPT A	0.46%	Cash and/or Derivatives
6	UNIVERSITY CALIF REVS	0.43%	Education
7	CALIFORNIA ST	0.37%	State Tax-Backed
8	FOOTHILL / EASTERN TRANSN CORR	0.35%	Transportation
9	CALIFORNIA ST	0.35%	State Tax-Backed
10	SAN DIEGO CALIF UNI SCH DIST	0.33%	School Districts
11	LOS ANGELES CALIF UNI SCH DIST	0.33%	School Districts
12	CALIFORNIA ST	0.32%	State Tax-Backed
13	UNIVERSITY CALIF REVS	0.32%	Education
14	SAN FRANCISCO CALIF CITY & CNT	0.32%	Utility
15	BEVERLY HILLS CALIF UNI SCH DIST	0.31%	School Districts