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ETF comparison

CMF vs SUB

Both US Municipal Bond.

iShares California Muni Bond ETF · iShares Short-Term National Muni Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
4.0 %

109 positions appear in both funds. Buying equal dollars of CMF and SUB would leave roughly 4.0% of each dollar exposed to the same underlying securities.

CMF only 96.3% Shared 4.0% SUB only 96.2%
In CMF only
1,416 positions
Shared
109 positions
In SUB only
2,674 positions

Side by side

CMF

iShares California Muni Bond ETF

iShares · US Municipal Bond

92 composite / 100
Expense ratio
0.080%
Net assets
$4.54B
TTM yield
2.96%
Top-10 conc.
4.6%
SUB

iShares Short-Term National Muni Bond ETF

iShares · US Municipal Bond

96 composite / 100
Expense ratio
0.070%
Net assets
$11.38B
TTM yield
2.54%
Top-10 conc.
3.6%

Sub-score comparison

92
Cost
93
93
Tax efficiency
93
85
Liquidity
100
100
Concentration
100
—
Tracking quality
—
CMF sub-score SUB

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

SUB is 1 bps cheaper than CMF. On a $100,000 position that's about $10/yr more in fees for CMF.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with CMF vs SUB.

Top shared holdings

109 shared in total
# Holding In CMF In SUB Overlap
1 University of California 0.24% 0.26% 0.24%
2 East County Advanced Water Purification Joint Powers Authority 0.35% 0.18% 0.18%
3 California State Public Works Board 0.17% 0.15% 0.15%
4 City of Los Angeles 0.22% 0.13% 0.13%
5 San Diego Community College District 0.15% 0.12% 0.12%
6 State of California 0.20% 0.10% 0.10%
7 State of California 0.10% 0.25% 0.10%
8 Los Angeles Department of Water & Power 0.13% 0.10% 0.10%
9 Los Angeles Unified School District 0.13% 0.10% 0.10%
10 State of California 0.11% 0.10% 0.10%
11 Los Angeles Community College District 0.26% 0.10% 0.10%
12 City of Los Angeles Wastewater System 0.13% 0.10% 0.10%

Only in CMF

1,416 total
  • University of California 0.53%
  • Los Angeles Unified School District 0.53%
  • Los Angeles Unified School District 0.50%
  • California Educational Facilities Authority 0.49%
  • University of California 0.46%
  • California State University 0.46%
  • State of California 0.42%
  • San Francisco City & County Airport Comm-San Francisco International Airport 0.41%
  • Orange County Water District 0.40%
  • University of California 0.36%

Only in SUB

2,674 total
  • New Jersey Economic Development Authority 0.38%
  • County of King 0.36%
  • State of California 0.29%
  • Empire State Development Corp. 0.27%
  • New Jersey Turnpike Authority 0.26%
  • Pennsylvania Turnpike Commission 0.26%
  • State of California 0.25%
  • Empire State Development Corp. 0.23%
  • Connecticut State Health & Educational Facilities Authority 0.23%
  • District of Columbia Water & Sewer Authority 0.23%

Open CMF or SUB at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.