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CALIvsUSLNETF Comparison

ETF 1
CALI

iShares Short-Term California Muni Active ETF

This fund is part of
Municipal Bonds
-0%
VS
ETF 2
USLN

iShares Broad USD Floating Rate Loan ETF

This fund is part of
US Corporate HY Bonds
-0.14%

iShares Short-Term California Muni Active ETF (CALI) belongs to the Municipal Bonds segment. iShares Broad USD Floating Rate Loan ETF (USLN) is part of the US Corporate HY Bonds segment. CALI's top 1 sector exposures are Municipal. In contrast, USLN's top sector exposures are Non-Corporate, Finance and Industrials. CALI is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.43% for USLN. Run a side-by-side ETF comparison of CALI and USLN 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 USLN performance and flow charts

Performance

-0.8-0.6-0.4-0.20.00.2%Sep 16Sep 23Sep 30Oct 7Oct 14

Cumulative Flows

0 M20 M40 M60 M80 M100 MSep 16Sep 23Sep 30Oct 7Oct 14

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Historic performance and flows
Data as of 10/16/2026
1M3MYTD1Y3Y5Y
Perf.
CALI
USLN
-0.05%-0.74%
-0.21%+0.61%
+0.90%n/a
+1.30%n/a
+9.11%n/a
n/an/a
Flows
CALI
USLN
+$102M+$5M
+$200M+$8M
+$404M-
+$452M-
+$601M-
--
Volatility and drawdown
3M1Y3Y5Y
Volatility
CALI
USLN
+1.21%+1.01%
+0.73%n/a
+0.76%n/a
n/an/a
Max drawdown
CALI
USLN
-1.20%-0.94%
-1.20%n/a
-1.20%n/a
n/an/a
Max drawdown duration
CALI
USLN
51d24d
51dn/a
51dn/a
n/an/a
Trading data

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CALI
USLN
Last sale
10/19/2026 at 6:05 PM
$49.96
Previous close
10/16/2026
$49.96
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 index

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CALI
USLN
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 6:05 PM
Live
Closed
CALI
USLN
Last price
$49.96
–
1D performance
+0.01%
–
AuM$614.49 M$29.89 M
E/R0.25%0.43%
Characteristics
CALI
USLN
Management strategyActivePassive
ProvideriSharesiShares
Benchmark-Morningstar LSTA US Leveraged Loan Broad Select Index
N° of holdings511873
Asset class--
Trailing 12m distribution yield
Join
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Inception dateJuly 11, 2023March 3, 2026
ESGNoNo
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Exposure

Countries

CALI
USA
25.25%
Other
74.75%
USLN
USA
14.67%
Other
85.33%

Sectors

CALI
Municipal
25.25%
Other
74.75%
USLN
Other
100%
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Diversification

CALI

Total weight of top 15 holdings out of 15

24.9%
USLN

Total weight of top 15 holdings out of 15

17.86%

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%
USLN
BlackRock Cash Funds - Treasury
5.17%
US89841EAB11
1.06%
US07014QAP63
0.99%
US59909TAE47
0.99%
US78466DBJ28
0.97%
US11132VAY56
0.97%
US74345HAL50
0.97%
US57906HAF47
0.93%
US22526WAU27
0.87%
US04686RAF01
0.87%
XAN8137FAE06
0.87%
US43644ABL26
0.86%
XAG4712JBB70
0.83%
XAC8000CAR43
0.77%
US74339NAG16
0.75%
Frequently asked questions about CALI and USLN

Which ETF is bigger: CALI or USLN?

As of October 16, 2026, CALI holds $614.49 M in assets under management (AUM), while USLN manages $29.89 M.

What are the top holdings of the CALI ETF and USLN ETF?

CALI top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US607804AC55 and US13063BCS97. USLN holds in its top three: BlackRock Cash Funds - Treasury, US89841EAB11 and US07014QAP63.

Which ETF is more diversified: CALI or USLN?

CALI holds 204 securities with 24.9% of its assets in the top 15. USLN has 2133 securities and a top 15 weight of 17.86%.

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