MUNYvsCMFETF Comparison
VS
Vanguard New York Tax-Exempt Bond ETF (MUNY) and iShares California Muni Bond ETF (CMF) belong to the same industry segment: Municipal Bonds. MUNY's top 1 sector exposures are Municipal. In contrast, CMF's top sector exposures are Municipal and Non-Corporate. MUNY is more expensive with a Total Expense Ratio (TER) of 0.09%, versus 0.08% for CMF. MUNY is down -1.91% year-to-date (YTD) with +$546M 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 MUNY 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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MUNY 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. | MUNY CMF | -0.04%-0.25% | -3.31%-3.34% | -1.91%-2.36% | -1.39%-1.71% | n/a+9.17% | n/a+0.25% |
| Flows | MUNY CMF | +$212M+$660M | +$277M+$801M | +$546M+$1.60B | +$616M+$1.96B | -+$3.16B | -+$3.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNY CMF | +5.24%+4.84% | +3.32%+3.08% | n/a+3.57% | n/a+3.58% |
| Max drawdown | MUNY CMF | -5.85%-5.69% | -6.60%-6.52% | n/a-6.52% | n/a-12.25% |
| Max drawdown duration | MUNY CMF | 92d92d | 102d229d | n/a229d | n/a1346d |
Trading data
MUNY | CMF | |
Last sale 10/19/2026 at 1:30 PM | $98.64 | $54.79 |
| Previous close 10/16/2026 | $98.68 | $54.82 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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MUNY | 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 10/19/2026 at 1:30 PM
Live
Closed
MUNY | CMF | |
|---|---|---|
| Last price | $98.64 | $54.79 |
| 1D performance | -0.04% | -0.05% |
| AuM | $722.39 M | $5.19 B |
| E/R | 0.09% | 0.08% |
Characteristics
MUNY | CMF | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Vanguard | iShares |
| Benchmark | S&P NewYork AMT-Free Municipal USD10 Million Par Bond Index | ICE AMT-Free California Municipal Index |
| N° of holdings | 1835 | 903 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 20, 2025 | October 4, 2007 |
| ESG | No | No |
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Exposure
Countries
MUNY
USA
59.67%
Other
40.33%
CMF
USA
59.23%
Other
40.77%
Sectors
MUNY
Municipal
59.67%
Other
40.33%
CMF
Municipal
59.23%
Other
40.77%
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Diversification
MUNY
Total weight of top 15 holdings out of 15
3.51%
CMF
Total weight of top 15 holdings out of 15
6.39%
Top 15 holdings
Data as of August 31, 2026
MUNY
New York Dormitory Authority, 5.5% 1jul2054, USD (2024A)
0.31%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.29%
City of New York, FRN 1aug2044, USD
0.27%
Triborough Bridge and Tunnel Authority, 5% 15may2051, USD (2021A)
0.27%
MTA Hudson Rail Yards Trust, 5% 15nov2056, USD (2016A)
0.25%
Triborough Bridge and Tunnel Authority, 5.25% 15may2064, USD (2024A-1)
0.23%
MTA Hudson Rail Yards Trust, 5% 15nov2051, USD (2016A)
0.22%
Triborough Bridge and Tunnel Authority, 5% 15nov2051, USD (2021A)
0.22%
US896035CD29
0.22%
New York Transitional Finance Authority, 5% 1nov2034, USD (2026)
0.21%
US896032BB41
0.21%
Triborough Bridge and Tunnel Authority, 5% 15nov2047, USD (2017A)
0.21%
Monroe Industrial Development Corp., 4% 1jul2050, USD (2020A)
0.20%
US89602HEY99
0.20%
New York Power Authority, 4% 15nov2050, USD
0.19%
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 MUNY and CMF
How have the MUNY and CMF ETFs performed in 2026?
As of October 16, 2026, MUNY is down -1.91% year-to-date (YTD), while CMF has lost -2.36%. That puts MUNY better performer ahead so far this year.
Which ETF is attracting more investor money: MUNY or CMF?
Year-to-date, the MUNY ETF saw +$546M in flows, compared to +$1.60B for CMF.
Which ETF is more volatile: MUNY or CMF?
Over the past year, MUNY had a volatility of 3.32%, while CMF experienced 3.08%.
Which ETF is bigger: MUNY or CMF?
As of October 16, 2026, MUNY holds $722.39 M in assets under management (AUM), while CMF manages $5.19 B.
What sectors do the MUNY and CMF ETFs invest in?
MUNY leans toward sectors like Municipal. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the MUNY ETF and CMF ETF?
MUNY top holdings include New York Dormitory Authority, 5.5% 1jul2054, USD (2024A), Hudson Yards Infrastructure Corp., 5% 15feb2042, USD and City of New York, FRN 1aug2044, USD. CMF holds in its top three: Orange Water District, FRN 1aug2042, USD (2003A), US79766DLC10 and US032556NJ70.
Which ETF is more diversified: MUNY or CMF?
MUNY holds 3643 securities with 3.51% 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 MUNY & CMF
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