LMUBvsCMFETF Comparison
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iShares Long-Term National Muni Bond ETF (LMUB) and iShares California Muni Bond ETF (CMF) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 2 sector exposures: Municipal and Non-Corporate. LMUB is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.08% for CMF. LMUB is down -3.54% year-to-date (YTD) with +$1.75B in YTD flows. CMF performs better with -2.36% YTD performance, and +$1.60B in YTD flows. Run a side-by-side ETF comparison of LMUB 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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LMUB vs CMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | LMUB CMF | -0.62%-0.25% | -5.55%-3.34% | -3.54%-2.36% | -3.10%-1.71% | n/a+9.17% | n/a+0.25% |
| Flows | LMUB CMF | -$139M+$660M | +$76M+$801M | +$1.75B+$1.60B | +$1.75B+$1.96B | -+$3.16B | -+$3.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | LMUB CMF | +7.05%+4.84% | +4.52%+3.08% | n/a+3.57% | n/a+3.58% |
| Max drawdown | LMUB CMF | -8.31%-5.69% | -9.29%-6.52% | n/a-6.52% | n/a-12.25% |
| Max drawdown duration | LMUB CMF | 92d92d | 102d229d | n/a229d | n/a1346d |
Trading data
LMUB | CMF | |
Last sale 10/16/2026 at 1:30 PM | $47.31 | $54.82 |
| Previous close 10/15/2026 | $47.28 | $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
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LMUB | 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 10/16/2026 at 1:30 PM
Live
Closed
LMUB | CMF | |
|---|---|---|
| Last price | $47.31 | $54.82 |
| 1D performance | +0.06% | +0.05% |
| AuM | $1.67 B | $5.19 B |
| E/R | 0.09% | 0.08% |
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Exposure
Countries
LMUB
USA
56.44%
Other
43.56%
CMF
USA
59.23%
Other
40.77%
Sectors
LMUB
Municipal
53.58%
Other
46.42%
CMF
Municipal
59.23%
Other
40.77%
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Diversification
LMUB
Total weight of top 15 holdings out of 15
10.72%
CMF
Total weight of top 15 holdings out of 15
6.39%
Top 15 holdings
Data as of August 31, 2026
LMUB
BlackRock Liquidity MuniCash
2.86%
Massachusetts, 5% 1oct2052, USD (2023)
0.86%
US64972JPQ57
0.63%
Oklahoma Capitol Improvement Authority, 5.25% 1jul2050, USD (2025A)
0.63%
US646039ZM26
0.61%
US70914P5R91
0.60%
US882725DA91
0.56%
US452153HP77
0.55%
US64985TGH86
0.53%
US452153PC72
0.52%
US812643C289
0.50%
Triborough Bridge and Tunnel Authority, 5% 15nov2041, USD (2026A-1)
0.48%
City of New York, 5.25% 1feb2050, USD (2025)
0.47%
US882270XW66
0.46%
Clark School District, 5% 15jun2040, USD (2026A)
0.46%
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 LMUB and CMF
How have the LMUB and CMF ETFs performed in 2026?
As of October 16, 2026, LMUB is down -3.54% year-to-date (YTD), while CMF has lost -2.36%. That puts CMF better performer ahead so far this year.
Which ETF is attracting more investor money: LMUB or CMF?
Year-to-date, the LMUB ETF saw +$1.75B in flows, compared to +$1.60B for CMF.
Which ETF is more volatile: LMUB or CMF?
Over the past year, LMUB had a volatility of 4.52%, while CMF experienced 3.08%.
Which ETF is bigger: LMUB or CMF?
As of October 16, 2026, LMUB holds $1.67 B in assets under management (AUM), while CMF manages $5.19 B.
What sectors do the LMUB and CMF ETFs invest in?
LMUB leans toward sectors like Municipal. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the LMUB ETF and CMF ETF?
LMUB top holdings include BlackRock Liquidity MuniCash, Massachusetts, 5% 1oct2052, USD (2023) and US64972JPQ57. CMF holds in its top three: Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70.
Which ETF is more diversified: LMUB or CMF?
LMUB holds 804 securities with 10.72% 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 LMUB & CMF
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