CATFvsIROCETF Comparison
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American Century California Municipal Bond ETF (CATF) belongs to the Municipal Bonds segment. Invesco Rochester High Yield Municipal ETF (IROC) is part of the US Aggregate Bonds segment. Both ETFs have the same top 1 sector exposures: Municipal. CATF is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.4% for IROC. CATF is down -1.79% year-to-date (YTD) with +$87M in YTD flows. IROC performs worse with -3.2% YTD performance, and +$93M in YTD flows. Run a side-by-side ETF comparison of CATF and IROC 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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CATF vs IROC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CATF IROC | -0.31%-0.98% | -3.60%-4.70% | -1.79%-3.20% | -0.82%-2.41% | n/a+11.52% | n/an/a |
| Flows | CATF IROC | +$57M+$34M | +$64M+$67M | +$87M+$93M | +$92M+$142M | -+$169M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CATF IROC | +5.09%+5.64% | +3.23%+3.51% | n/a+3.52% | n/an/a |
| Max drawdown | CATF IROC | -5.87%-6.59% | -6.34%-7.11% | n/a-7.11% | n/an/a |
| Max drawdown duration | CATF IROC | 92d92d | 101d102d | n/a102d | n/an/a |
Trading data
CATF | IROC | |
Last sale 10/19/2026 at 1:30 PM | $47.74 | $48.25 |
| Previous close 10/16/2026 | $47.98 | $48.45 |
| 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 1:30 PM
Live
Closed
CATF | IROC | |
|---|---|---|
| Last price | $47.74 | $48.25 |
| 1D performance | -0.50% | -0.41% |
| AuM | $143.48 M | $192.11 M |
| E/R | 0.25% | 0.4% |
Characteristics
CATF | IROC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | American Century Investments | Invesco |
| Benchmark | - | - |
| N° of holdings | 109 | 71 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 18, 2024 | September 12, 2022 |
| ESG | No | No |
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Exposure
Countries
CATF
USA
39.08%
Other
60.92%
IROC
USA
40.88%
Other
59.12%
Sectors
CATF
Municipal
39.08%
Other
60.92%
IROC
Municipal
40.88%
Other
59.12%
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Diversification
CATF
Total weight of top 15 holdings out of 15
12.15%
IROC
Total weight of top 15 holdings out of 15
18.23%
Top 15 holdings
Data as of August 31, 2026
CATF
California, 3.5% 1dec2030, USD
1.43%
Riverside Transportation Commission, 4% 1jun2046, USD
0.91%
US684133KT71
0.87%
California, 4% 1sep2043, USD
0.86%
US13032UN611
0.84%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.82%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.82%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
0.76%
US13048VV394
0.73%
US13032UX453
0.72%
California Community Choice Financing Authority, 5% 1aug2055, USD (2024C)
0.71%
Desert Community College District, 5% 1aug2051, USD (2016)
0.69%
US544647JV34
0.67%
US13032U6J26
0.67%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
0.67%
IROC
Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A)
1.28%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.28%
US13013JGF75
1.25%
US37353PWV74
1.25%
US812643H643
1.24%
US121342PQ61
1.24%
City of New York, FRN 1dec2047, USD
1.24%
US677561LA84
1.24%
Washington Suburban Sanitary District, FRN 1jun2027, USD
1.24%
Mississippi Business Finance Corp., FRN 1nov2035, USD (2010I)
1.24%
Gulf Coast Industrial Development Authority, FRN 1nov2041, USD (2012)
1.24%
US686507NQ33
1.24%
US63608TBR05
1.09%
Texas, 5% 1aug2041, USD
1.07%
Massachusetts Development Finance Agency, 5% 1jan2047, USD
1.05%
Frequently asked questions about CATF and IROC
How have the CATF and IROC ETFs performed in 2026?
As of October 15, 2026, CATF is down -1.79% year-to-date (YTD), while IROC has lost -3.2%. That puts CATF better performer ahead so far this year.
Which ETF is attracting more investor money: CATF or IROC?
Year-to-date, the CATF ETF saw +$87M in flows, compared to +$93M for IROC.
Which ETF is more volatile: CATF or IROC?
Over the past year, CATF had a volatility of 3.23%, while IROC experienced 3.51%.
Which ETF is bigger: CATF or IROC?
As of October 15, 2026, CATF holds $143.48 M in assets under management (AUM), while IROC manages $192.11 M.
What sectors do the CATF and IROC ETFs invest in?
CATF leans toward sectors like Municipal. Meanwhile, IROC focuses on Municipal.
What are the top holdings of the CATF ETF and IROC ETF?
CATF top holdings include California, 3.5% 1dec2030, USD, Riverside Transportation Commission, 4% 1jun2046, USD and US684133KT71. IROC holds in its top three: Central Plains Energy Gas Project, 5% 1sep2042, USD (2017A), Kentucky Public Energy Authority, 5% 1dec2033, USD (2025) and US13013JGF75.
Which ETF is more diversified: CATF or IROC?
CATF holds 312 securities with 12.15% of its assets in the top 15. IROC has 174 securities and a top 15 weight of 18.23%.
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