BROUGHT TO YOU BY:

ETF Portfolio Builder

New

ETF Portfolio Builder

New

FSMBvsCMFETF Comparison

ETF 1

FSMB

First Trust Short Duration Managed Municipal ETF

This fund is part of

Municipal Bonds

-0%

Full FSMB fund page

VS

ETF 2

CMF

iShares California Muni Bond ETF

This fund is part of

Municipal Bonds

-0%

Full CMF fund page

First Trust Short Duration Managed Municipal ETF (FSMB) and iShares California Muni Bond ETF (CMF) belong to the same industry segment: Municipal Bonds. In contrast, CMF's top sector exposures are Municipal and Non-Corporate. FSMB is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.08% for CMF. FSMB is up 1.2% year-to-date (YTD) with +$152M in YTD flows. CMF performs worse with -2.36% YTD performance, and +$1.60B in YTD flows. Run a side-by-side ETF comparison of FSMB and CMF 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

FSMB vs CMF performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/15/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSMB CMF	-0.18%-0.25%	-0.98%-3.34%	+1.20%-2.36%	+1.39%-1.71%	+8.05%+9.17%	+4.23%+0.25%
Flows	FSMB CMF	+$32M+$660M	+$39M+$801M	+$152M+$1.60B	+$177M+$1.96B	+$251M+$3.16B	+$494M+$3.62B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMB CMF	+2.49%+4.84%	+1.58%+3.08%	+1.68%+3.57%	+1.64%+3.58%
Max drawdown	FSMB CMF	-2.71%-5.69%	-2.71%-6.52%	-2.71%-6.52%	-5.98%-12.25%
Max drawdown duration	FSMB CMF	63d92d	63d229d	63d229d	1149d1346d

Trading data

Create an account to view trading data

Join for free

	FSMB	CMF
Last sale 10/16/2026 at 1:30 PM	$19.64	$54.82
Previous close 10/15/2026	$19.62	$54.79
Consolidated volume 10/15/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 17, 2026

1-year trailing difference

Create an account to view replication metrics

Join for free

FSMB

is actively managed and doesn’t replicate an index

Create an account to view replication quality

Join for free

	FSMB	CMF
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/16/2026 at 1:30 PM

Live

Closed

	FSMB	CMF
Last price	$19.64	$54.82
1D performance	+0.08%	+0.05%
AuM	$651.00 M	$5.19 B
E/R	0.34%	0.08%

Characteristics

	FSMB	CMF
Management strategy	Active	Passive
Provider	First Trust	iShares
Benchmark	-	ICE AMT-Free California Municipal Index
N° of holdings	-	903
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	November 1, 2018	October 4, 2007
ESG	No	No

More FSMB data on Trackinsight

More CMF data on Trackinsight

Exposure

Countries

FSMB

Data will be available soon

CMF

USA

59.23%

Other

40.77%

Sectors

FSMB

Data will be available soon

CMF

Municipal

59.23%

Other

40.77%

Diversification

FSMB

Data will be available soon

CMF

Total weight of top 15 holdings out of 15

6.39%

Top 15 holdings

Data as of January 1, 1970

FSMB

Data will be available soon

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%

Frequently asked questions about FSMB and CMF

How have the FSMB and CMF ETFs performed in 2026?

As of October 15, 2026, FSMB is up 1.2% year-to-date (YTD), while CMF has lost -2.36%. That puts FSMB better performer ahead so far this year.

Which ETF is attracting more investor money: FSMB or CMF?

Year-to-date, the FSMB ETF saw +$152M in flows, compared to +$1.60B for CMF.

Which ETF is more volatile: FSMB or CMF?

Over the past year, FSMB had a volatility of 1.58%, while CMF experienced 3.08%.

Which ETF is bigger: FSMB or CMF?

As of October 15, 2026, FSMB holds $651.00 M in assets under management (AUM), while CMF manages $5.19 B.

Which Types of Bond ETFs Are the Most Tax Efficient?

September 2, 2025

CMF

FSMBvsCMFETF Comparison

First Trust Short Duration Managed Municipal ETF

iShares California Muni Bond ETF

FSMB vs CMF performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FSMB and CMF ETFs performed in 2026?

As of October 15, 2026, FSMB is up 1.2% year-to-date (YTD), while CMF has lost -2.36%. That puts FSMB better performer ahead so far this year.

Which ETF is attracting more investor money: FSMB or CMF?

Year-to-date, the FSMB ETF saw +$152M in flows, compared to +$1.60B for CMF.

Which ETF is more volatile: FSMB or CMF?

Over the past year, FSMB had a volatility of 1.58%, while CMF experienced 3.08%.

Which ETF is bigger: FSMB or CMF?

As of October 15, 2026, FSMB holds $651.00 M in assets under management (AUM), while CMF manages $5.19 B.

Which Types of Bond ETFs Are the Most Tax Efficient?

Build and Analyze Your ETF Portfolio Like a Pro