CMFvsMUBETF Comparison
VS
iShares California Muni Bond ETF (CMF) and iShares National Muni Bond ETF (MUB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 2 sector exposures: Municipal and Non-Corporate. CMF is more expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.05% for MUB. CMF is down -0.97% year-to-date (YTD) with +$1.69B in YTD flows. MUB performs better with -0.65% YTD performance, and +$13.78B in YTD flows. Run a side-by-side ETF comparison of CMF and MUB 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 MUB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CMF MUB | +3.74%+3.83% | -1.10%-1.07% | -0.97%-0.65% | -0.54%-0.30% | +12.09%+8.97% | +1.97%-0.35% |
| Flows | CMF MUB | +$548M+$7.18B | +$877M+$9.92B | +$1.69B+$13.78B | +$2.02B+$14.97B | +$3.13B+$18.91B | +$3.71B+$33.33B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CMF MUB | +4.99%+5.22% | +3.20%+3.31% | +3.57%+3.68% | +3.60%+3.60% |
| Max drawdown | CMF MUB | -5.53%-5.55% | -6.52%-6.40% | -6.52%-6.40% | -12.25%-11.55% |
| Max drawdown duration | CMF MUB | 74d74d | 239d112d | 239d112d | 1346d1488d |
Trading data
CMF | MUB | |
Last sale 10/27/2026 at 1:30 PM | $55.63 | $103.87 |
| Previous close 10/26/2026 | $55.57 | $103.82 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 28, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
CMF | MUB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
CMF | MUB | |
|---|---|---|
| Last price | $55.63 | $103.87 |
| 1D performance | +0.11% | +0.05% |
| AuM | $5.35 B | $54.09 B |
| E/R | 0.08% | 0.05% |
Characteristics
CMF | MUB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | iShares |
| Benchmark | ICE AMT-Free California Municipal Index | ICE AMT-Free US National Municipal Index |
| N° of holdings | 903 | 3823 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2007 | September 7, 2007 |
| ESG | No | No |
Exposure
Countries
CMF
USA
59.23%
Other
40.77%
MUB
USA
56.95%
Other
43.05%
Sectors
CMF
Municipal
59.23%
Other
40.77%
MUB
Municipal
56.94%
Other
43.06%
Advertisement
Diversification
CMF
Total weight of top 15 holdings out of 15
6.39%
MUB
Total weight of top 15 holdings out of 15
1.93%
Top 15 holdings
Data as of August 31, 2026
CMF
Orange Water District, FRN 1aug2042, USD (2003A)
0.60%
US79766DLC10
0.52%
US032556NJ70
0.49%
Los Angeles Unified School District, 5% 1jul2031, USD (2024)
0.47%
University of California, 5.5% 15may2040, USD
0.46%
California Educational Facilities Authority, 5% 1may2045, USD
0.44%
US4636324Q95
0.44%
US79905CAB90
0.42%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.41%
US13077DUT70
0.40%
University of California, 5% 15may2036, USD (2025)
0.39%
California, 5% 1mar2055, USD
0.37%
California, 5.25% 1aug2032, USD
0.34%
US91412GSH91
0.32%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.32%
MUB
University of Texas, 5% 15aug2036, USD (2025B)
0.19%
US79642GTU66
0.15%
US650028ZA41
0.15%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.13%
Houston Higher Education Finance Corp., 5% 15may2034, USD (2024)
0.13%
New Jersey, 5% 1jun2028, USD
0.13%
Northwest Independent School District, 5.25% 15feb2055, USD (2025)
0.13%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
California, 5% 1sep2031, USD
0.12%
US93974EVY93
0.12%
Illinois, 5% 1nov2027, USD (2017D)
0.11%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.11%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.11%
US812643ZK32
0.11%
US44244CN944
0.11%
Frequently asked questions about CMF and MUB
How have the CMF and MUB ETFs performed in 2026?
As of October 26, 2026, CMF is down -0.97% year-to-date (YTD), while MUB has lost -0.65%. That puts MUB better performer ahead so far this year.
Which ETF is attracting more investor money: CMF or MUB?
Year-to-date, the CMF ETF saw +$1.69B in flows, compared to +$13.78B for MUB.
Which ETF is more volatile: CMF or MUB?
Over the past year, CMF had a volatility of 3.2%, while MUB experienced 3.31%.
Which ETF is bigger: CMF or MUB?
As of October 26, 2026, CMF holds $5.35 B in assets under management (AUM), while MUB manages $54.09 B.
What sectors do the CMF and MUB ETFs invest in?
CMF leans toward sectors like Municipal. Meanwhile, MUB focuses on Municipal.
What are the top holdings of the CMF ETF and MUB ETF?
CMF top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70. MUB holds in its top three: University of Texas, 5% 15aug2036, USD (2025B), US79642GTU66 and US650028ZA41.
Which ETF is more diversified: CMF or MUB?
CMF holds 1670 securities with 6.39% of its assets in the top 15. MUB has 6873 securities and a top 15 weight of 1.93%.
Advertisement
Latest news about CMF & MUB
The Weekly ETF Market Monitor (October 19-23, 2026)
October 26, 2026
MUB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
MUB
Which Types of Bond ETFs Are the Most Tax Efficient?
September 2, 2025
CMF
MUB
Which ETFs do the Famous Investors Own?
January 22, 2025
MUB
Advertisement
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
MUB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
MUB
Investing in Municipal Bond ETFs
October 24, 2022
MUB
Advertisement
