CALIvsMEARETF Comparison
VS
iShares Short-Term California Muni Active ETF (CALI) and iShares Short Maturity Municipal Bond Active ETF (MEAR) belong to the same industry segment: Municipal Bonds. CALI's top 1 sector exposures are Municipal. In contrast, MEAR's top sector exposures are Municipal and Non-Corporate. CALI is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.26% for MEAR. CALI is up 0.73% year-to-date (YTD) with +$399M in YTD flows. MEAR performs better with 0.96% YTD performance, and +$145M in YTD flows. Run a side-by-side ETF comparison of CALI and MEAR 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 MEAR performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CALI MEAR | -0.30%-0.25% | -0.42%-0.39% | +0.73%+0.96% | +1.14%+1.45% | +8.92%+9.65% | n/a+12.57% |
| Flows | CALI MEAR | +$117M+$52M | +$200M+$107M | +$399M+$145M | +$447M+$216M | +$596M+$857M | -+$1.18B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CALI MEAR | +1.16%+1.06% | +0.71%+0.68% | +0.75%+0.75% | n/a+0.64% |
| Max drawdown | CALI MEAR | -1.20%-1.08% | -1.20%-1.08% | -1.20%-1.08% | n/a-1.08% |
| Max drawdown duration | CALI MEAR | 49d49d | 49d49d | 49d49d | n/a49d |
Trading data
CALI | MEAR | |
Last sale 10/15/2026 at 1:30 PM | $49.95 | $49.80 |
| Previous close 10/14/2026 | $49.87 | $49.76 |
| Consolidated volume 10/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/15/2026 at 1:30 PM
Live
Closed
CALI | MEAR | |
|---|---|---|
| Last price | $49.95 | $49.80 |
| 1D performance | +0.17% | +0.08% |
| AuM | $608.41 M | $1.46 B |
| E/R | 0.25% | 0.26% |
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Exposure
Countries
CALI
USA
25.25%
Other
74.75%
MEAR
USA
29.35%
Other
70.65%
Sectors
CALI
Municipal
25.25%
Other
74.75%
MEAR
Municipal
29.34%
Other
70.66%
Diversification
CALI
Total weight of top 15 holdings out of 15
24.9%
MEAR
Total weight of top 15 holdings out of 15
21.18%
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%
US072024ZH86
1.20%
MEAR
St. James Parish, FRN 1nov2040, USD (2010A-1)
2.18%
US46246XAD66
2.12%
US56035DEN84
1.87%
PEFA Inc., 5% 1sep2049, USD (2019)
1.73%
Texas Municipal Gas Acquisition and Supply Corp., 5.5% 1jan2054, USD (2023A)
1.68%
City of Burlington, FRN 1sep2035, USD (2007A)
1.57%
US74440DFN93
1.37%
US46246K5F52
1.33%
US20775CZF49
1.23%
US84129NML00
1.22%
US64987J6Y23
1.01%
US45528VFV62
0.99%
New Mexico Municipal Energy Acquisition Authority, FRN 1jun2054, USD (2025)
0.98%
US365753AW24
0.96%
US196707Y498
0.95%
Frequently asked questions about CALI and MEAR
How have the CALI and MEAR ETFs performed in 2026?
As of October 14, 2026, CALI is up 0.73% year-to-date (YTD), while MEAR has returned 0.96%. That puts MEAR better performer ahead so far this year.
Which ETF is attracting more investor money: CALI or MEAR?
Year-to-date, the CALI ETF saw +$399M in flows, compared to +$145M for MEAR.
Which ETF is more volatile: CALI or MEAR?
Over the past year, CALI had a volatility of 0.71%, while MEAR experienced 0.68%.
Which ETF is bigger: CALI or MEAR?
As of October 14, 2026, CALI holds $608.41 M in assets under management (AUM), while MEAR manages $1.46 B.
What sectors do the CALI and MEAR ETFs invest in?
CALI leans toward sectors like Municipal. Meanwhile, MEAR focuses on Municipal.
What are the top holdings of the CALI ETF and MEAR ETF?
CALI top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US607804AC55 and US13063BCS97. MEAR holds in its top three: St. James Parish, FRN 1nov2040, USD (2010A-1), US46246XAD66 and US56035DEN84.
Which ETF is more diversified: CALI or MEAR?
CALI holds 204 securities with 24.9% of its assets in the top 15. MEAR has 313 securities and a top 15 weight of 21.18%.
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