GBNDvsCMFETF Comparison
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Goldman Sachs Core Bond ETF (GBND) belongs to the Intl IG Bonds segment. iShares California Muni Bond ETF (CMF) is part of the Municipal Bonds segment. GBND's top 3 sector exposures are Sovereign, Industrials and Finance. In contrast, CMF's top sector exposures are Municipal and Non-Corporate. GBND is more expensive with a Total Expense Ratio (TER) of 0.26%, versus 0.08% for CMF. GBND is down -1.35% year-to-date (YTD) with +$576M in YTD flows. CMF performs better with -1.31% YTD performance, and +$1.69B in YTD flows. Run a side-by-side ETF comparison of GBND 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.
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GBND vs CMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | GBND CMF | +0.69%+1.62% | -0.71%-1.12% | -1.35%-1.31% | -1.38%-0.88% | n/a+11.69% | n/a+1.58% |
| Flows | GBND CMF | +$36M+$629M | +$107M+$877M | +$576M+$1.69B | +$621M+$2.02B | -+$3.23B | -+$3.71B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | GBND CMF | +4.69%+4.92% | +4.00%+3.17% | n/a+3.57% | n/a+3.60% |
| Max drawdown | GBND CMF | -3.51%-5.53% | -4.97%-6.52% | n/a-6.52% | n/a-12.25% |
| Max drawdown duration | GBND CMF | 59d71d | 236d236d | n/a236d | n/a1346d |
Trading data
GBND | CMF | |
Last sale 10/23/2026 at 1:30 PM | $48.78 | $55.38 |
| Previous close 10/22/2026 | $48.81 | $55.30 |
| Consolidated volume 10/22/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 24, 2026
1-year trailing difference
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GBND
is actively managed and doesn’t replicate an indexGBND | CMF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
GBND | CMF | |
|---|---|---|
| Last price | $48.78 | $55.38 |
| 1D performance | -0.06% | +0.14% |
| AuM | $618.74 M | $5.33 B |
| E/R | 0.26% | 0.08% |
Characteristics
GBND | CMF | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Goldman Sachs | iShares |
| Benchmark | - | ICE AMT-Free California Municipal Index |
| N° of holdings | 581 | 903 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 25, 2025 | October 4, 2007 |
| ESG | No | No |
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Exposure
Countries
GBND
USA
58.43%
Other
41.57%
CMF
USA
59.23%
Other
40.77%
Sectors
GBND
Sovereign
25.74%
Industrials
14.65%
Finance
10.26%
Other
49.35%
CMF
Municipal
59.23%
Other
40.77%
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Diversification
GBND
Total weight of top 15 holdings out of 15
35.54%
CMF
Total weight of top 15 holdings out of 15
6.39%
Top 15 holdings
Data as of August 31, 2026
GBND
USA, Notes 3.875% 30nov2029, USD (S-2029)
6.67%
Fannie Mae or Freddie Mac TBA, 2.5% 1apr2046, USD (ABS)
4.15%
USA, Notes 3.5% 15oct2028, USD (AT-2028)
3.04%
USA, Notes 3.375% 29feb2028, USD (AY-2028)
2.84%
USA, Bonds 4.5% 15nov2054, USD
2.39%
USA, Bonds 5% 15may2056, USD
2.38%
USA, Bonds 4.25% 15aug2054, USD
2.30%
US3133QBD264
1.75%
USA, Bonds 4.875% 15aug2045, USD
1.60%
USA, Bonds 4.625% 15feb2046, USD
1.59%
FR SD8200, 2.5% 1mar2052, USD (ABS)
1.48%
US31427SSM16
1.45%
US21H0606978
1.33%
US3142GYH657
1.30%
US01F0424915
1.28%
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 GBND and CMF
How have the GBND and CMF ETFs performed in 2026?
As of October 23, 2026, GBND is down -1.35% year-to-date (YTD), while CMF has lost -1.31%. That puts CMF better performer ahead so far this year.
Which ETF is attracting more investor money: GBND or CMF?
Year-to-date, the GBND ETF saw +$576M in flows, compared to +$1.69B for CMF.
Which ETF is more volatile: GBND or CMF?
Over the past year, GBND had a volatility of 4%, while CMF experienced 3.17%.
Which ETF is bigger: GBND or CMF?
As of October 23, 2026, GBND holds $618.74 M in assets under management (AUM), while CMF manages $5.33 B.
What sectors do the GBND and CMF ETFs invest in?
GBND leans toward sectors like Sovereign, Industrials and Finance. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the GBND ETF and CMF ETF?
GBND top holdings include USA, Notes 3.875% 30nov2029, USD (S-2029), Fannie Mae or Freddie Mac TBA, 2.5% 1apr2046, USD (ABS) and USA, Notes 3.5% 15oct2028, USD (AT-2028). CMF holds in its top three: Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70.
Which ETF is more diversified: GBND or CMF?
GBND holds 733 securities with 35.54% of its assets in the top 15. CMF has 1670 securities and a top 15 weight of 6.39%.
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Latest news about GBND & CMF
Ask the Manager: Marissa Ansell on the Opportunity in Active Fixed Income ETFs
February 4, 2026
GBND
Goldman Sachs Asset Management Strengthens Active Fixed Income Offering with GBND and GIGL
November 18, 2025
GBND
Which Types of Bond ETFs Are the Most Tax Efficient?
September 2, 2025
CMF
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