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- Upturn Summary
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Upturn AI Summary
iShares California Muni Bond ETF(CMF)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for CMF
11/06/2026: CMF (2-star) has a low Upturn Star Rating. Not recommended to BUY.
The iShares California Muni Bond ETF (CMF) offers investors exposure to a diversified portfolio of investment-grade California municipal bonds, primarily aiming to provide tax-exempt income. Its main strengths include its status as one of the most liquid options in the state-specific muni space and its competitive expense ratio. The fund is best used as an income-generating component of a portfolio for California residents. Key risks include interest rate sensitivity and concentration risk due to its focus on a single state. It is best suited for income-focused, risk-averse investors who prioritize tax efficiency.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | This fund focuses on income rather than capital appreciation. |
| Momentum investor | Weak fit | Muni bonds generally exhibit low momentum characteristics compared to equity markets. |
| Value investor | Mixed fit | Value investors may appreciate the yield, but the fund is not designed for traditional value equity metrics. |
| Dividend/Income investor | Strong fit | The primary goal of this fund is to provide a consistent stream of tax-exempt income. |
| Low-risk investor | Strong fit | High-quality municipal bonds offer lower volatility and higher credit stability compared to stocks. |
Investor Profile
Ideal Investor Profile
The ideal investor is a California resident in a high tax bracket seeking tax-efficient income and capital preservation.
Suitability
Best suited for long-term income-oriented investors rather than active traders.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium | Bond prices fluctuate in response to changes in interest rates. |
| Market risk | Medium | Broader economic and municipal market conditions impact bond values. |
| Concentration | High | The fund is concentrated in a single state, increasing exposure to California-specific fiscal policies. |
| Tracking/expense | Low | The fund has a low expense ratio and maintains tight tracking of its benchmark. |
| Liquidity | Low | While generally liquid, the underlying muni market can experience periods of lower liquidity. |
| Business/sector quality | Low / none | The fund holds investment-grade municipal debt, which historically has low default rates. |
Risk Analysis
Volatility
CMF displays low-to-moderate volatility typical of investment-grade fixed-income funds.
Market Risk
Primary risks include interest rate risk and the concentration risk associated with the California municipal market.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | California Municipal Bonds (Investment Grade) | 98.5 | These bonds represent debt issued by California state and local entities, providing tax-advantaged income. |
| Cash/collateral | Cash and Cash Equivalents | 1.5 | A small cash buffer is held for liquidity management and daily fund operations. |
Analysis of Past Performance
Type ETF | Historic Profit 5.75% | Avg. Invested days 45 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  2.0 |
| Profits based on simulation | Last Close 11/06/2026 |
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