CMFvsMUNYETF Comparison
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iShares California Muni Bond ETF (CMF) and Vanguard New York Tax-Exempt Bond ETF (MUNY) belong to the same industry segment: Municipal Bonds. CMF's top 2 sector exposures are Municipal and Non-Corporate. In contrast, MUNY's top sector exposures are Municipal. CMF is less expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.09% for MUNY. CMF is down -0.97% year-to-date (YTD) with +$1.69B in YTD flows. MUNY performs better with -0.55% YTD performance, and +$559M in YTD flows. Run a side-by-side ETF comparison of CMF and MUNY 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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CMF vs MUNY 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 MUNY | +3.74%+3.93% | -1.10%-1.08% | -0.97%-0.55% | -0.54%-0.26% | +12.09%n/a | +1.97%n/a |
| Flows | CMF MUNY | +$548M+$212M | +$877M+$282M | +$1.69B+$559M | +$2.02B+$626M | +$3.13B- | +$3.71B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CMF MUNY | +4.99%+5.40% | +3.20%+3.44% | +3.57%n/a | +3.60%n/a |
| Max drawdown | CMF MUNY | -5.53%-5.65% | -6.52%-6.60% | -6.52%n/a | -12.25%n/a |
| Max drawdown duration | CMF MUNY | 74d74d | 239d112d | 239dn/a | 1346dn/a |
Trading data
CMF | MUNY | |
Last sale 10/27/2026 at 1:30 PM | $55.63 | $100.10 |
| Previous close 10/26/2026 | $55.57 | $100.10 |
| 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 September 30, 2026
1-year trailing difference
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CMF | MUNY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/27/2026 at 1:30 PM
Live
Closed
CMF | MUNY | |
|---|---|---|
| Last price | $55.63 | $100.10 |
| 1D performance | +0.11% | +0.00% |
| AuM | $5.35 B | $744.93 M |
| E/R | 0.08% | 0.09% |
Characteristics
CMF | MUNY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Vanguard |
| Benchmark | ICE AMT-Free California Municipal Index | S&P NewYork AMT-Free Municipal USD10 Million Par Bond Index |
| N° of holdings | 903 | 1835 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2007 | May 20, 2025 |
| ESG | No | No |
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Exposure
Countries
CMF
USA
59.23%
Other
40.77%
MUNY
USA
59.67%
Other
40.33%
Sectors
CMF
Municipal
59.23%
Other
40.77%
MUNY
Municipal
59.67%
Other
40.33%
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Diversification
CMF
Total weight of top 15 holdings out of 15
6.39%
MUNY
Total weight of top 15 holdings out of 15
3.51%
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%
MUNY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.31%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.29%
City of New York, FRN 1aug2044, USD
0.27%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.27%
MTA Hudson Rail Yards Trust, 5% 15nov2056, USD (2016A)
0.25%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.23%
MTA Hudson Rail Yards Trust, 5% 15nov2051, USD (2016A)
0.22%
Triborough Bridge and Tunnel Authority, 5% 15nov2051, USD (2021A)
0.22%
US896035CD29
0.22%
New York Transitional Finance Authority, 5% 1nov2034, USD (2026)
0.21%
US896032BB41
0.21%
Triborough Bridge and Tunnel Authority, 5% 15nov2047, USD (2017A)
0.21%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.20%
US89602HEY99
0.20%
New York Power Authority, 4% 15nov2050, USD
0.19%
Frequently asked questions about CMF and MUNY
How have the CMF and MUNY ETFs performed in 2026?
As of October 26, 2026, CMF is down -0.97% year-to-date (YTD), while MUNY has lost -0.55%. That puts MUNY better performer ahead so far this year.
Which ETF is attracting more investor money: CMF or MUNY?
Year-to-date, the CMF ETF saw +$1.69B in flows, compared to +$559M for MUNY.
Which ETF is more volatile: CMF or MUNY?
Over the past year, CMF had a volatility of 3.2%, while MUNY experienced 3.44%.
Which ETF is bigger: CMF or MUNY?
As of October 26, 2026, CMF holds $5.35 B in assets under management (AUM), while MUNY manages $744.93 M.
What sectors do the CMF and MUNY ETFs invest in?
CMF leans toward sectors like Municipal. Meanwhile, MUNY focuses on Municipal.
What are the top holdings of the CMF ETF and MUNY ETF?
CMF top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70. MUNY holds in its top three: New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Hudson Yards Infrastructure Corp., 5% 15feb2042, USD and City of New York, FRN 1aug2044, USD.
Which ETF is more diversified: CMF or MUNY?
CMF holds 1670 securities with 6.39% of its assets in the top 15. MUNY has 3643 securities and a top 15 weight of 3.51%.
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Latest news about CMF & MUNY
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