CMFvsVTECETF Comparison
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iShares California Muni Bond ETF (CMF) and Vanguard California Tax-Exempt Bond ETF (VTEC) belong to the same industry segment: Municipal Bonds. CMF's top 2 sector exposures are Municipal and Non-Corporate. In contrast, VTEC's top sector exposures are Municipal. CMF is more expensive with a Total Expense Ratio (TER) of 0.08%, versus 0.06% for VTEC. CMF is down -0.97% year-to-date (YTD) with +$1.69B in YTD flows. VTEC performs worse with -1.01% YTD performance, and +$2.61B in YTD flows. Run a side-by-side ETF comparison of CMF and VTEC 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 VTEC 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 VTEC | +3.74%+3.68% | -1.10%-1.22% | -0.97%-1.01% | -0.54%-0.58% | +12.09%n/a | +1.97%n/a |
| Flows | CMF VTEC | +$548M+$804M | +$877M+$1.29B | +$1.69B+$2.61B | +$2.02B+$2.95B | +$3.13B- | +$3.71B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CMF VTEC | +4.99%+5.08% | +3.20%+3.25% | +3.57%n/a | +3.60%n/a |
| Max drawdown | CMF VTEC | -5.53%-5.64% | -6.52%-6.50% | -6.52%n/a | -12.25%n/a |
| Max drawdown duration | CMF VTEC | 74d74d | 239d239d | 239dn/a | 1346dn/a |
Trading data
CMF | VTEC | |
Last sale 10/27/2026 at 1:30 PM | $55.63 | $96.84 |
| Previous close 10/26/2026 | $55.57 | $96.72 |
| 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 | VTEC | |
|---|---|---|
| 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 | VTEC | |
|---|---|---|
| Last price | $55.63 | $96.84 |
| 1D performance | +0.11% | +0.12% |
| AuM | $5.35 B | $4.28 B |
| E/R | 0.08% | 0.06% |
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Exposure
Countries
CMF
USA
59.23%
Other
40.77%
VTEC
USA
60.82%
Other
39.18%
Sectors
CMF
Municipal
59.23%
Other
40.77%
VTEC
Municipal
60.82%
Other
39.18%
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Diversification
CMF
Total weight of top 15 holdings out of 15
6.39%
VTEC
Total weight of top 15 holdings out of 15
4.13%
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%
VTEC
University of California, FRN 15may2048, USD (2013)
0.52%
University of California, 5% 15may2036, USD (2025)
0.44%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.33%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.31%
US072024YF30
0.29%
US91412HWB58
0.27%
US544647HQ66
0.23%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.23%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.23%
University of California, 5% 15may2032, USD (2022)
0.23%
US13063EUR51
0.22%
US13063EUX20
0.22%
Irvine Ranch Water District, FRN 1oct2041, USD (2009A)
0.21%
Los Angeles Department of Water and Power, 5% 1jul2028, USD (2025)
0.21%
California, 5.25% 1aug2032, USD
0.20%
Frequently asked questions about CMF and VTEC
How have the CMF and VTEC ETFs performed in 2026?
As of October 26, 2026, CMF is down -0.97% year-to-date (YTD), while VTEC has lost -1.01%. That puts CMF better performer ahead so far this year.
Which ETF is attracting more investor money: CMF or VTEC?
Year-to-date, the CMF ETF saw +$1.69B in flows, compared to +$2.61B for VTEC.
Which ETF is more volatile: CMF or VTEC?
Over the past year, CMF had a volatility of 3.2%, while VTEC experienced 3.25%.
Which ETF is bigger: CMF or VTEC?
As of October 26, 2026, CMF holds $5.35 B in assets under management (AUM), while VTEC manages $4.28 B.
What sectors do the CMF and VTEC ETFs invest in?
CMF leans toward sectors like Municipal. Meanwhile, VTEC focuses on Municipal.
What are the top holdings of the CMF ETF and VTEC ETF?
CMF top holdings include Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70. VTEC holds in its top three: University of California, FRN 15may2048, USD (2013), University of California, 5% 15may2036, USD (2025) and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: CMF or VTEC?
CMF holds 1670 securities with 6.39% of its assets in the top 15. VTEC has 3916 securities and a top 15 weight of 4.13%.
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Latest news about CMF & VTEC
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