CMFvsBSMSETF Comparison
VS
iShares California Muni Bond ETF (CMF) and Invesco BulletShares 2028 Municipal Bond ETF (BSMS) belong to the same industry segment: Municipal Bonds. CMF's top 2 sector exposures are Municipal and Non-Corporate. In contrast, BSMS's top sector exposures are Municipal. CMF is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.18% for BSMS. CMF is down -1.77% year-to-date (YTD) with +$920M in YTD flows. BSMS performs better with -0.85% YTD performance, and +$80M in YTD flows. Run a side-by-side ETF comparison of CMF and BSMS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
CMF vs BSMS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CMF BSMS | -2.42%-0.79% | -2.77%-0.83% | -1.77%-0.85% | -0.13%-0.06% | +7.71%+7.80% | +0.15%-2.06% |
| Flows | CMF BSMS | +$51M+$14M | +$254M+$23M | +$920M+$80M | +$1.31B+$105M | +$2.42B+$259M | +$2.97B+$312M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CMF BSMS | +2.99%+1.25% | +2.40%+1.09% | +3.49%+2.29% | +3.47%+2.89% |
| Max drawdown | CMF BSMS | -3.60%-1.14% | -3.77%-1.71% | -5.18%-2.76% | -12.25%-14.36% |
| Max drawdown duration | CMF BSMS | 67d66d | 194d200d | 275d132d | 1346d1815d |
Trading data
CMF | BSMS | |
Last sale 9/11/2026 at 1:30 PM | $55.34 | $23.18 |
| Previous close 09/10/2026 | $55.09 | $23.16 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
CMF | BSMS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
CMF | BSMS | |
|---|---|---|
| Last price | $55.34 | $23.18 |
| 1D performance | +0.45% | +0.08% |
| AuM | $4.54 B | $325.81 M |
| E/R | 0.08% | 0.18% |
Characteristics
CMF | BSMS | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Invesco |
| Benchmark | ICE AMT-Free California Municipal Index | Invesco BulletShares USD Municipal Bond 2028 Index |
| N° of holdings | 930 | 1156 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2007 | September 13, 2019 |
| ESG | No | No |
Advertisement
Exposure
Countries
CMF
USA
61.5%
Other
38.5%
BSMS
USA
63.86%
Other
36.14%
Sectors
CMF
Municipal
61.5%
Other
38.5%
BSMS
Municipal
63.86%
Other
36.14%
Advertisement
Diversification
CMF
Total weight of top 15 holdings out of 15
5.91%
BSMS
Total weight of top 15 holdings out of 15
4.76%
Top 15 holdings
Data as of July 31, 2026
CMF
Orange Water District, FRN 1aug2042, USD (2003A)
0.50%
Los Angeles Unified School District, 5% 1jul2031, USD (2024)
0.47%
University of California, 5.5% 15may2040, USD
0.46%
US79905CAB90
0.43%
California Educational Facilities Authority, 5% 1may2045, USD
0.43%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.41%
US13077DUT70
0.41%
University of California, 5% 15may2036, USD (2025)
0.39%
US032556NJ70
0.39%
California, 5% 1mar2055, USD
0.38%
US4636324Q95
0.36%
California, 5.25% 1aug2032, USD
0.35%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.32%
East Bay Municipal Utility District, 5% 1jun2039, USD (2026B)
0.31%
US842475M859
0.31%
BSMS
Illinois, 5% 1nov2028, USD (2017D)
0.50%
Texas Water Development Board, 5% 15apr2049, USD (2018B)
0.49%
Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2025A)
0.49%
North Texas Tollway Authority, 5% 1jan2043, USD (2017A)
0.38%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.35%
Los Angeles Unified School District, 5.25% 1jul2042, USD
0.30%
New Jersey, 5% 1jun2028, USD
0.30%
Triborough Bridge and Tunnel Authority, 5% 1mar2028, USD (2025A)
0.30%
Los Angeles Metropolitan Transportation Authority, 5% 1jul2044, USD (2019-A)
0.29%
Grand Parkway Transportation Corp., 5% 1oct2043, USD (2018A)
0.23%
Las Vegas Convention and Visitors Authority, 5% 1jul2043, USD
0.23%
New York Dormitory Authority, 5% 15mar2048, USD (2018)
0.22%
County of Clark (NV), 5% 1may2048, USD
0.22%
Illinois Toll Highway Authority, 5% 1jan2042, USD
0.22%
Pennsylvania, 3.75% 1mar2039, USD
0.22%
Frequently asked questions about CMF and BSMS
How have the CMF and BSMS ETFs performed in 2026?
As of September 11, 2026, CMF is down -1.77% year-to-date (YTD), while BSMS has lost -0.85%. That puts BSMS better performer ahead so far this year.
Which ETF is attracting more investor money: CMF or BSMS?
Year-to-date, the CMF ETF saw +$920M in flows, compared to +$80M for BSMS.
Which ETF is more volatile: CMF or BSMS?
Over the past year, CMF had a volatility of 2.4%, while BSMS experienced 1.09%.
Which ETF is bigger: CMF or BSMS?
As of September 11, 2026, CMF holds $4.54 B in assets under management (AUM), while BSMS manages $325.81 M.
What sectors do the CMF and BSMS ETFs invest in?
CMF leans toward sectors like Municipal. Meanwhile, BSMS focuses on Municipal.
What are the top holdings of the CMF ETF and BSMS ETF?
CMF top holdings include Orange Water District, FRN 1aug2042, USD (2003A), Los Angeles Unified School District, 5% 1jul2031, USD (2024) and University of California, 5.5% 15may2040, USD. BSMS holds in its top three: Illinois, 5% 1nov2028, USD (2017D), Texas Water Development Board, 5% 15apr2049, USD (2018B) and Triborough Bridge and Tunnel Authority, 5% 1feb2028, USD (2025A).
Which ETF is more diversified: CMF or BSMS?
CMF holds 1640 securities with 5.91% of its assets in the top 15. BSMS has 2245 securities and a top 15 weight of 4.76%.
Advertisement
Latest news about CMF & BSMS
Advertisement
