CALIvsLDSFETF Comparison
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iShares Short-Term California Muni Active ETF (CALI) belongs to the Municipal Bonds segment. First Trust Low Duration Strategic Focus ETF (LDSF) is part of the Intl Aggregate Bonds segment. CALI's top 1 sector exposures are Municipal. In contrast, LDSF's top sector exposures are Finance, Sovereign and Technology. CALI is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.77% for LDSF. CALI is up 0.9% year-to-date (YTD) with +$404M in YTD flows. LDSF performs better with 1.35% YTD performance, and +$18M in YTD flows. Run a side-by-side ETF comparison of CALI and LDSF 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 LDSF 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 LDSF | -0.05%-0.31% | -0.21%-0.88% | +0.90%+1.35% | +1.30%+1.98% | +9.11%+16.73% | n/a+12.51% |
| Flows | CALI LDSF | +$102M-$3M | +$200M+$59K | +$404M+$18M | +$452M+$30M | +$601M+$29M | --$20M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CALI LDSF | +1.21%+2.52% | +0.73%+2.38% | +0.76%+2.55% | n/a+2.69% |
| Max drawdown | CALI LDSF | -1.20%-2.24% | -1.20%-2.24% | -1.20%-2.24% | n/a-7.46% |
| Max drawdown duration | CALI LDSF | 51d57d | 51d57d | 51d57d | n/a766d |
Trading data
CALI | LDSF | |
Last sale 10/19/2026 at 5:50 PM | $49.96 | $18.51 |
| Previous close 10/16/2026 | $49.96 | $18.53 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/19/2026 at 5:50 PM
Live
Closed
CALI | LDSF | |
|---|---|---|
| Last price | $49.96 | $18.51 |
| 1D performance | +0.01% | -0.11% |
| AuM | $614.49 M | $158.39 M |
| E/R | 0.25% | 0.77% |
Characteristics
CALI | LDSF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | iShares | First Trust |
| Benchmark | - | - |
| N° of holdings | 51 | 3371 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 11, 2023 | January 3, 2019 |
| ESG | No | No |
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Exposure
Countries
CALI
USA
25.25%
Other
74.75%
LDSF
USA
23.06%
Other
76.94%
Sectors
CALI
Municipal
25.25%
Other
74.75%
LDSF
Finance
10.35%
Other
89.65%
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Diversification
CALI
Total weight of top 15 holdings out of 15
24.9%
LDSF
Total weight of top 15 holdings out of 15
64.92%
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%
LDSF
US33739Q2003
32.86%
US33738D4088
11.96%
US33738D3098
6.54%
US33738D7701
4.96%
US33739P2020
3.04%
US33739Q4082
3.01%
MSCI Inc, 4% 15nov2029, USD
0.45%
CrowdStrike Holdings, 3% 15feb2029, USD
0.42%
1011778 B.C., 5.625% 15sep2029, USD
0.29%
Smurfit Kappa Group, 5.2% 15jan2030, USD
0.26%
Constellation Software, 5.158% 16feb2029, USD
0.26%
Berry Global, 5.5% 15apr2028, USD
0.23%
IQVIA Inc., 5.7% 15may2028, USD
0.22%
ABC Supply, 4% 15jan2028, USD
0.22%
Mozart Debt Merger Sub, 3.875% 1apr2029, USD
0.21%
Frequently asked questions about CALI and LDSF
How have the CALI and LDSF ETFs performed in 2026?
As of October 16, 2026, CALI is up 0.9% year-to-date (YTD), while LDSF has returned 1.35%. That puts LDSF better performer ahead so far this year.
Which ETF is attracting more investor money: CALI or LDSF?
Year-to-date, the CALI ETF saw +$404M in flows, compared to +$18M for LDSF.
Which ETF is more volatile: CALI or LDSF?
Over the past year, CALI had a volatility of 0.73%, while LDSF experienced 2.38%.
Which ETF is bigger: CALI or LDSF?
As of October 16, 2026, CALI holds $614.49 M in assets under management (AUM), while LDSF manages $158.39 M.
What sectors do the CALI and LDSF ETFs invest in?
CALI leans toward sectors like Municipal. Meanwhile, LDSF focuses on Finance.
What are the top holdings of the CALI ETF and LDSF ETF?
CALI top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US607804AC55 and US13063BCS97. LDSF holds in its top three: US33739Q2003, US33738D4088 and US33738D3098.
Which ETF is more diversified: CALI or LDSF?
CALI holds 204 securities with 24.9% of its assets in the top 15. LDSF has 3449 securities and a top 15 weight of 64.92%.
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