MUBvsCMFETF Comparison
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iShares National Muni Bond ETF (MUB) 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. MUB is less expensive with a Total Expense Ratio (TER) of 0.05%, versus 0.08% for CMF. MUB is down -0.65% year-to-date (YTD) with +$13.78B in YTD flows. CMF performs worse with -0.97% YTD performance, and +$1.69B in YTD flows. Run a side-by-side ETF comparison of MUB 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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MUB vs CMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUB CMF | +3.83%+3.74% | -1.07%-1.10% | -0.65%-0.97% | -0.30%-0.54% | +8.97%+12.09% | -0.35%+1.97% |
| Flows | MUB CMF | +$7.18B+$548M | +$9.92B+$877M | +$13.78B+$1.69B | +$14.97B+$2.02B | +$18.91B+$3.13B | +$33.33B+$3.71B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUB CMF | +5.22%+4.99% | +3.31%+3.20% | +3.68%+3.57% | +3.60%+3.60% |
| Max drawdown | MUB CMF | -5.55%-5.53% | -6.40%-6.52% | -6.40%-6.52% | -11.55%-12.25% |
| Max drawdown duration | MUB CMF | 74d74d | 112d239d | 112d239d | 1488d1346d |
Trading data
MUB | CMF | |
Last sale 10/27/2026 at 1:30 PM | $103.87 | $55.63 |
| Previous close 10/26/2026 | $103.82 | $55.57 |
| 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 October 28, 2026
1-year trailing difference
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MUB | 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 10/27/2026 at 1:30 PM
Live
Closed
MUB | CMF | |
|---|---|---|
| Last price | $103.87 | $55.63 |
| 1D performance | +0.05% | +0.11% |
| AuM | $54.09 B | $5.35 B |
| E/R | 0.05% | 0.08% |
Characteristics
MUB | CMF | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | iShares |
| Benchmark | ICE AMT-Free US National Municipal Index | ICE AMT-Free California Municipal Index |
| N° of holdings | 3823 | 903 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 7, 2007 | October 4, 2007 |
| ESG | No | No |
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Exposure
Countries
MUB
USA
56.95%
Other
43.05%
CMF
USA
59.23%
Other
40.77%
Sectors
MUB
Municipal
56.94%
Other
43.06%
CMF
Municipal
59.23%
Other
40.77%
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Diversification
MUB
Total weight of top 15 holdings out of 15
1.93%
CMF
Total weight of top 15 holdings out of 15
6.39%
Top 15 holdings
Data as of August 31, 2026
MUB
University of Texas, 5% 15aug2036, USD (2025B)
0.19%
US79642GTU66
0.15%
US650028ZA41
0.15%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.13%
Houston Higher Education Finance Corp., 5% 15may2034, USD (2024)
0.13%
New Jersey, 5% 1jun2028, USD
0.13%
Northwest Independent School District, 5.25% 15feb2055, USD (2025)
0.13%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
California, 5% 1sep2031, USD
0.12%
US93974EVY93
0.12%
Illinois, 5% 1nov2027, USD (2017D)
0.11%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.11%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.11%
US812643ZK32
0.11%
US44244CN944
0.11%
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 MUB and CMF
How have the MUB and CMF ETFs performed in 2026?
As of October 26, 2026, MUB is down -0.65% year-to-date (YTD), while CMF has lost -0.97%. That puts MUB better performer ahead so far this year.
Which ETF is attracting more investor money: MUB or CMF?
Year-to-date, the MUB ETF saw +$13.78B in flows, compared to +$1.69B for CMF.
Which ETF is more volatile: MUB or CMF?
Over the past year, MUB had a volatility of 3.31%, while CMF experienced 3.2%.
Which ETF is bigger: MUB or CMF?
As of October 26, 2026, MUB holds $54.09 B in assets under management (AUM), while CMF manages $5.35 B.
What sectors do the MUB and CMF ETFs invest in?
MUB leans toward sectors like Municipal. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the MUB ETF and CMF ETF?
MUB top holdings include University of Texas, 5% 15aug2036, USD (2025B), US79642GTU66 and US650028ZA41. CMF holds in its top three: Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70.
Which ETF is more diversified: MUB or CMF?
MUB holds 6873 securities with 1.93% 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 MUB & CMF
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