IBMOvsJCALETF Comparison
VS
iShares iBonds Dec 2026 Term Muni Bond ETF (IBMO) and JPMorgan California Tax Free Bond ETF (JCAL) belong to the same industry segment: Municipal Bonds. IBMO's top 2 sector exposures are Municipal and Non-Corporate. In contrast, JCAL's top sector exposures are Municipal and Sovereign. IBMO is less expensive with a Total Expense Ratio (TER) of 0.1%, versus 0.44% for JCAL. Run a side-by-side ETF comparison of IBMO and JCAL 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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IBMO vs JCAL performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IBMO JCAL | +0.19%-0.54% | +0.59%n/a | +1.62%n/a | +2.30%n/a | +9.36%n/a | +3.66%n/a |
| Flows | IBMO JCAL | -$23M-$6K | -$36M- | -$17M- | +$32M- | +$229M- | +$436M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IBMO JCAL | +0.15%n/a | +0.25%n/a | +0.87%n/a | +1.52%n/a |
| Max drawdown | IBMO JCAL | n/an/a | -0.14%n/a | -1.20%n/a | -8.44%n/a |
| Max drawdown duration | IBMO JCAL | n/an/a | 51dn/a | 58dn/a | 1290dn/a |
Trading data
IBMO | JCAL | |
Last sale 9/4/2026 at 1:30 PM | $25.59 | $48.76 |
| Previous close 09/03/2026 | $25.60 | $48.76 |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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JCAL
is actively managed and doesn’t replicate an indexIBMO | JCAL | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
IBMO | JCAL | |
|---|---|---|
| Last price | $25.59 | $48.76 |
| 1D performance | -0.04% | +0.00% |
| AuM | $551.97 M | $497.25 M |
| E/R | 0.1% | 0.44% |
Characteristics
IBMO | JCAL | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | J.P. Morgan Asset Management |
| Benchmark | S&P AMT-Free Municipal Series Callable-Adjusted Dec 2026 Index | - |
| N° of holdings | 327 | 116 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 2, 2019 | June 12, 2026 |
| ESG | No | No |
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Exposure
Countries
IBMO
USA
39.9%
Other
60.1%
JCAL
USA
41.08%
Other
58.92%
Sectors
IBMO
Municipal
39.89%
Other
60.11%
JCAL
Municipal
39.38%
Other
60.62%
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Diversification
IBMO
Total weight of top 15 holdings out of 15
41.27%
JCAL
Total weight of top 15 holdings out of 15
15.2%
Top 15 holdings
Data as of July 31, 2026
IBMO
Orlando Utilities Commission, FRN 1oct2039, USD (2015B)
4.35%
US20775DTT99
4.17%
US812643ZK32
3.69%
US79642GTU66
3.69%
US254845VW74
3.48%
US44244CN944
3.48%
US89602RPH20
2.64%
Battery Park City Authority, FRN 1nov2038, USD (2019D)
2.37%
US576051R651
2.26%
Metropolitan Atlanta Rapid Transit Authority, FRN 1jul2045, USD (2026B)
2.09%
Long Island Power Authority, FRN 1sep2042, USD (2026A)
2.00%
US495290ET12
1.84%
US677632R946
1.74%
US542691LG38
1.74%
US64972GSC95
1.74%
JCAL
US072024C758
1.74%
USA, Bills 0% 11aug2026, USD (119D)
1.70%
US91412HYH01
1.13%
US568087BK56
1.10%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024D)
1.09%
California, 4% 1oct2041, USD
1.01%
US13063EGP51
1.01%
California Infrastructure and Economic Development Bank, 5% 1nov2029, USD (2024)
0.94%
US13013JHG40
0.82%
US09182TEN37
0.79%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
0.78%
US13034A3Y44
0.78%
Alvord Unified School District, 0% 1aug2036, USD (2011B, 9179D)
0.78%
Sacramento Municipal Utility District, 5% 15aug2049, USD (2023)
0.77%
Desert Community College District, 4% 1aug2051, USD (2016)
0.76%
Frequently asked questions about IBMO and JCAL
Which ETF is bigger: IBMO or JCAL?
As of September 3, 2026, IBMO holds $551.97 M in assets under management (AUM), while JCAL manages $497.25 M.
What sectors do the IBMO and JCAL ETFs invest in?
IBMO leans toward sectors like Municipal. Meanwhile, JCAL focuses on Municipal.
What are the top holdings of the IBMO ETF and JCAL ETF?
IBMO top holdings include Orlando Utilities Commission, FRN 1oct2039, USD (2015B), US20775DTT99 and US812643ZK32. JCAL holds in its top three: US072024C758, USA, Bills 0% 11aug2026, USD (119D) and US91412HYH01.
Which ETF is more diversified: IBMO or JCAL?
IBMO holds 713 securities with 41.27% of its assets in the top 15. JCAL has 313 securities and a top 15 weight of 15.2%.
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