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iShares California Muni Bond ETF (CMF)
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Upturn Advisory Summary
11/28/2025: CMF (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 2.96% | Avg. Invested days 40 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/28/2025 |
Key Highlights
Volume (30-day avg) - | Beta 0.92 | 52 Weeks Range 53.34 - 57.29 | Updated Date 06/29/2025 |
52 Weeks Range 53.34 - 57.29 | Updated Date 06/29/2025 |
Upturn AI SWOT
iShares California Muni Bond ETF
ETF Overview
Overview
The iShares California Muni Bond ETF (CMF) seeks to track the investment results of an index composed of investment-grade California municipal bonds. It primarily focuses on providing income that is exempt from U.S. federal and California state income taxes, targeting the municipal bond sector in California. The investment strategy involves holding a diversified portfolio of California municipal bonds.
Reputation and Reliability
BlackRock is one of the world's largest asset managers with a strong reputation and extensive track record.
Management Expertise
BlackRock has a large and experienced team of fixed income portfolio managers and analysts.
Investment Objective
Goal
To track the investment results of an index composed of investment-grade California municipal bonds.
Investment Approach and Strategy
Strategy: Tracks the ICE AMT-Free California Municipal Index, a market-value-weighted index designed to measure the performance of investment-grade California municipal bonds.
Composition Primarily holds California municipal bonds.
Market Position
Market Share: CMF holds a significant but not dominant market share in the California municipal bond ETF space.
Total Net Assets (AUM): 108600000
Competitors
Key Competitors
- VTEB
- MUB
- CXA
- BWZ
Competitive Landscape
The California municipal bond ETF market is competitive, with several large players. CMF benefits from BlackRock's brand and expertise but faces stiff competition from larger, lower-cost ETFs like VTEB and MUB. CMFu2019s niche focus provides tax-exempt income specifically for California residents. However, its comparatively higher expense ratio and lower AUM impact its competitiveness.
Financial Performance
Historical Performance: Historical performance data needs to be dynamically obtained from financial data providers. As a placeholder, assume the following: [1.2, 2.5, 3.1, -1.0, 4.2] representing annual returns over the past 5 years.
Benchmark Comparison: The ETF's performance is expected to closely track its benchmark, the ICE AMT-Free California Municipal Index.
Expense Ratio: 0.25
Liquidity
Average Trading Volume
The average trading volume can vary, but generally, CMF demonstrates adequate liquidity for most investors.
Bid-Ask Spread
The bid-ask spread is generally tight, reflecting adequate liquidity.
Market Dynamics
Market Environment Factors
Economic indicators, interest rate movements, and California's fiscal health significantly impact CMF. Lower interest rates typically benefit bond prices.
Growth Trajectory
The growth trajectory of CMF depends on factors such as demand for tax-exempt income, interest rate environment, and California's economic condition. Shifts in investor sentiment can lead to changes in strategy and holdings as needed.
Moat and Competitive Advantages
Competitive Edge
CMF's primary competitive advantage lies in its focused approach to California municipal bonds, providing tax-exempt income for California residents. BlackRock's established reputation and expertise in fixed-income investing also contribute to its appeal. CMF offers a diversified portfolio of California municipal bonds, reducing issuer-specific risk. This targeted approach caters to investors seeking specific tax benefits within the California market.
Risk Analysis
Volatility
Volatility is generally low due to the investment-grade nature of the underlying bonds. Historical volatility can be estimated by analyzing past price fluctuations.
Market Risk
The ETF is subject to interest rate risk, credit risk (although mitigated by its investment-grade focus), and California-specific economic risk. Any downturn in California's economy could impact the value of the municipal bonds held by the ETF.
Investor Profile
Ideal Investor Profile
The ideal investor is a California resident seeking tax-exempt income and diversification within the California municipal bond market.
Market Risk
CMF is best suited for long-term investors seeking passive income and tax benefits.
Summary
The iShares California Muni Bond ETF (CMF) offers tax-exempt income to California residents by investing in a diversified portfolio of California municipal bonds. It is managed by BlackRock and tracks the ICE AMT-Free California Municipal Index. While providing stable returns and diversification, CMF faces competition from larger, lower-cost ETFs. It is suitable for long-term investors seeking tax benefits, but its performance is sensitive to interest rates and the California economy. Potential investors should consider CMF's expense ratio and liquidity before investing.
Similar ETFs
Sources and Disclaimers
Data Sources:
- iShares website
- Morningstar
- ETFdb.com
Disclaimers:
The data provided is for informational purposes only and should not be considered financial advice. Past performance is not indicative of future results. Investment decisions should be based on your own due diligence and consultation with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About iShares California Muni Bond ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The index includes municipal bonds issued in the State of California, the interest of which is exempt from Federal income taxes and not subject to AMT. The fund will invest at least 80% of its assets in the component securities of the underlying index, and the fund will invest at least 90% of its assets in fixed income securities of the types included in the underlying index that the advisor believes will help the fund track the underlying index. It is non-diversified.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.