VTECvsCMFETF Comparison
VS
Vanguard California Tax-Exempt Bond ETF (VTEC) and iShares California Muni Bond ETF (CMF) belong to the same industry segment: Municipal Bonds. VTEC's top 1 sector exposures are Municipal. In contrast, CMF's top sector exposures are Municipal and Non-Corporate. VTEC is less expensive with a Total Expense Ratio (TER) of 0.06%, versus 0.08% for CMF. VTEC is down -0.96% year-to-date (YTD) with +$2.67B 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 VTEC 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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VTEC vs CMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/29/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VTEC CMF | +3.94%+3.74% | -1.30%-1.27% | -0.96%-0.97% | -0.56%-0.56% | n/a+12.20% | n/a+1.76% |
| Flows | VTEC CMF | +$801M+$548M | +$1.30B+$835M | +$2.67B+$1.69B | +$3.00B+$2.00B | -+$3.11B | -+$3.71B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VTEC CMF | +5.02%+4.93% | +3.24%+3.19% | n/a+3.57% | n/a+3.60% |
| Max drawdown | VTEC CMF | -5.64%-5.53% | -6.50%-6.52% | n/a-6.52% | n/a-12.25% |
| Max drawdown duration | VTEC CMF | 77d76d | 242d241d | n/a241d | n/a1346d |
Trading data
VTEC | CMF | |
Last sale 10/30/2026 at 5:01 PM | $97.06 | $55.81 |
| Previous close 10/29/2026 | $96.82 | $55.64 |
| Consolidated volume 10/29/2026 | ||
| 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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VTEC | 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 10/30/2026 at 5:01 PM
Live
Closed
VTEC | CMF | |
|---|---|---|
| Last price | $97.06 | $55.81 |
| 1D performance | +0.25% | +0.31% |
| AuM | $4.34 B | $5.35 B |
| E/R | 0.06% | 0.08% |
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Exposure
Countries
VTEC
USA
60.19%
Other
39.81%
CMF
USA
56.64%
Other
43.36%
Sectors
VTEC
Municipal
60.19%
Other
39.81%
CMF
Municipal
56.63%
Other
43.37%
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Diversification
VTEC
Total weight of top 15 holdings out of 15
3.77%
CMF
Total weight of top 15 holdings out of 15
6.03%
Top 15 holdings
Data as of September 30, 2026
VTEC
University of California, 5% 15may2036, USD (2025)
0.50%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.37%
Bay Area Toll Authority, 5% 1apr2061, USD (2026)
0.28%
US91412HWB58
0.25%
San Diego Public Facilities Financing Authority, 5.25% 15oct2055, USD (2025A)
0.24%
US544525Y931
0.23%
California, 5.25% 1oct2051, USD
0.23%
US88035JSP83
0.23%
US13048TGT43
0.22%
University of California, 5% 15may2032, USD (2022)
0.22%
US672325R587
0.21%
US544647HQ66
0.21%
California Educational Facilities Authority, 5% 1oct2055, USD (2025A)
0.20%
Foothill/Eastern Transportation Corridor Agency, 4% 15jan2046, USD (2021A)
0.20%
US13063EUR51
0.20%
CMF
US59266TYR66
0.52%
US79766DLC10
0.51%
Los Angeles Unified School District, 5% 1jul2034, USD (2024A)
0.49%
East Bay Municipal Utility District, 5% 1jun2039, USD (2026B)
0.44%
Los Angeles Unified School District, 5% 1jul2031, USD (2024)
0.44%
University of California, 5.5% 15may2040, USD
0.43%
University of California, 5% 15may2036, USD (2025)
0.42%
California Educational Facilities Authority, 5% 1may2045, USD
0.38%
US13077DUT70
0.38%
Orange Water District, FRN 1aug2042, USD (2003A)
0.37%
California, 4% 1mar2036, USD
0.35%
US032556NJ70
0.35%
California, 5% 1mar2055, USD
0.34%
California, 5.25% 1aug2032, USD
0.32%
US91412HYL13
0.29%
Frequently asked questions about VTEC and CMF
How have the VTEC and CMF ETFs performed in 2026?
As of October 29, 2026, VTEC is down -0.96% year-to-date (YTD), while CMF has lost -0.97%. That puts VTEC better performer ahead so far this year.
Which ETF is attracting more investor money: VTEC or CMF?
Year-to-date, the VTEC ETF saw +$2.67B in flows, compared to +$1.69B for CMF.
Which ETF is more volatile: VTEC or CMF?
Over the past year, VTEC had a volatility of 3.24%, while CMF experienced 3.19%.
Which ETF is bigger: VTEC or CMF?
As of October 29, 2026, VTEC holds $4.34 B in assets under management (AUM), while CMF manages $5.35 B.
What sectors do the VTEC and CMF ETFs invest in?
VTEC leans toward sectors like Municipal. Meanwhile, CMF focuses on Municipal.
What are the top holdings of the VTEC ETF and CMF ETF?
VTEC top holdings include University of California, 5% 15may2036, USD (2025), Los Angeles Unified School District, 5% 1jul2034, USD (2024A) and Bay Area Toll Authority, 5% 1apr2061, USD (2026). CMF holds in its top three: US59266TYR66, US79766DLC10 and Los Angeles Unified School District, 5% 1jul2034, USD (2024A).
Which ETF is more diversified: VTEC or CMF?
VTEC holds 3944 securities with 3.77% of its assets in the top 15. CMF has 1751 securities and a top 15 weight of 6.03%.
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Latest news about VTEC & CMF
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