CALIvsIBMSETF Comparison
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iShares Short-Term California Muni Active ETF (CALI) and iShares iBonds Dec 2030 Term Muni Bond ETF (IBMS) belong to the same industry segment: Municipal Bonds. CALI's top 1 sector exposures are Municipal. In contrast, IBMS's top sector exposures are Municipal and Non-Corporate. CALI is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.1% for IBMS. CALI is up 0.9% year-to-date (YTD) with +$404M in YTD flows. IBMS performs worse with -0.76% YTD performance, and +$144M in YTD flows. Run a side-by-side ETF comparison of CALI and IBMS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CALI vs IBMS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CALI IBMS | -0.05%+0.03% | -0.21%-1.15% | +0.90%-0.76% | +1.30%-0.31% | +9.11%n/a | n/an/a |
| Flows | CALI IBMS | +$102M+$19M | +$200M+$56M | +$404M+$144M | +$452M+$218M | +$601M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CALI IBMS | +1.21%+3.22% | +0.73%+2.08% | +0.76%n/a | n/an/a |
| Max drawdown | CALI IBMS | -1.20%-3.36% | -1.20%-4.36% | -1.20%n/a | n/an/a |
| Max drawdown duration | CALI IBMS | 51d64d | 51d232d | 51dn/a | n/an/a |
Trading data
CALI | IBMS | |
Last sale 10/19/2026 at 7:05 PM | $49.96 | $25.36 |
| Previous close 10/16/2026 | $49.96 | $25.35 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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CALI
is actively managed and doesn’t replicate an indexCALI | IBMS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 7:05 PM
Live
Closed
CALI | IBMS | |
|---|---|---|
| Last price | $49.96 | $25.36 |
| 1D performance | +0.00% | +0.04% |
| AuM | $614.49 M | $363.12 M |
| E/R | 0.25% | 0.1% |
Exposure
Countries
CALI
USA
25.25%
Other
74.75%
IBMS
USA
33.92%
Other
66.08%
Sectors
CALI
Municipal
25.25%
Other
74.75%
IBMS
Municipal
32.72%
Other
67.28%
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Diversification
CALI
Total weight of top 15 holdings out of 15
24.9%
IBMS
Total weight of top 15 holdings out of 15
7.34%
Top 15 holdings
Data as of August 31, 2026
CALI
Orange Water District, FRN 1aug2042, USD (2003A)
2.37%
US607804AC55
2.33%
US13063BCS97
2.01%
US59266TYR66
1.93%
Bay Area Toll Authority, FRN 1apr2059, USD (2026)
1.83%
US88035F7U81
1.80%
US13034DAH70
1.66%
US13032UJ338
1.48%
US91412HTJ22
1.48%
US13033LSZ12
1.46%
Northern California Energy Authority, 5% 1dec2054, USD (2024)
1.42%
California Community Choice Financing Authority, 5% 1feb2031, USD (2026D)
1.40%
US13048RAN70
1.33%
US130536RN77
1.22%
US59266TXN61
1.20%
IBMS
BlackRock Liquidity MuniCash
1.20%
New Jersey, 4% 1jun2030, USD
0.74%
US79625GNF62
0.59%
New York Metropolitan Transportation Authority, 5% 15nov2045, USD (2015A-2)
0.54%
US91412HWB58
0.49%
Connecticut Health and Educational Facilities Authority, 5% 1jul2064, USD (2025B-1)
0.47%
California, 5% 1nov2030, USD
0.42%
US544647MT41
0.40%
US03843TAY73
0.40%
US544647HM52
0.38%
US618024BT98
0.36%
Alabama Public School and College Authority, 5% 1nov2032, USD (2020-A)
0.36%
US419794B842
0.35%
Missouri Highways and Transportation Commission, 5% 1may2030, USD (2022)
0.32%
US39081HHV78
0.32%
Frequently asked questions about CALI and IBMS
How have the CALI and IBMS ETFs performed in 2026?
As of October 16, 2026, CALI is up 0.9% year-to-date (YTD), while IBMS has lost -0.76%. That puts CALI better performer ahead so far this year.
Which ETF is attracting more investor money: CALI or IBMS?
Year-to-date, the CALI ETF saw +$404M in flows, compared to +$144M for IBMS.
Which ETF is more volatile: CALI or IBMS?
Over the past year, CALI had a volatility of 0.73%, while IBMS experienced 2.08%.
Which ETF is bigger: CALI or IBMS?
As of October 16, 2026, CALI holds $614.49 M in assets under management (AUM), while IBMS manages $363.12 M.
What sectors do the CALI and IBMS ETFs invest in?
CALI leans toward sectors like Municipal. Meanwhile, IBMS focuses on Municipal.
What are the top holdings of the CALI ETF and IBMS ETF?
CALI top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US607804AC55 and US13063BCS97. IBMS holds in its top three: BlackRock Liquidity MuniCash, New Jersey, 4% 1jun2030, USD and US79625GNF62.
Which ETF is more diversified: CALI or IBMS?
CALI holds 204 securities with 24.9% of its assets in the top 15. IBMS has 1769 securities and a top 15 weight of 7.34%.
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