CMF vs. EBND
Compare and contrast key facts about iShares California Muni Bond ETF (CMF) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND).
CMF and EBND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMF is a passively managed fund by iShares that tracks the performance of the S&P California AMT-Free Municipal Bond Index. It was launched on Oct 4, 2007. EBND is a passively managed fund by State Street that tracks the performance of the Bloomberg Emerging Market Local Currency Government Diversified. It was launched on Feb 23, 2011. Both CMF and EBND are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMF or EBND.
Performance
CMF vs. EBND - Performance Comparison
Returns By Period
In the year-to-date period, CMF achieves a 1.48% return, which is significantly higher than EBND's -1.84% return. Over the past 10 years, CMF has outperformed EBND with an annualized return of 1.99%, while EBND has yielded a comparatively lower -0.57% annualized return.
CMF
1.48%
-0.27%
2.17%
5.45%
0.81%
1.99%
EBND
-1.84%
-2.91%
-0.01%
2.70%
-1.75%
-0.57%
Key characteristics
| CMF | EBND | |
|---|---|---|
| Sharpe Ratio | 1.55 | 0.43 |
| Sortino Ratio | 2.22 | 0.68 |
| Omega Ratio | 1.30 | 1.08 |
| Calmar Ratio | 0.83 | 0.18 |
| Martin Ratio | 6.68 | 1.12 |
| Ulcer Index | 0.89% | 2.96% |
| Daily Std Dev | 3.82% | 7.63% |
| Max Drawdown | -16.45% | -29.50% |
| Current Drawdown | -2.05% | -15.10% |
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CMF vs. EBND - Expense Ratio Comparison
CMF has a 0.25% expense ratio, which is lower than EBND's 0.30% expense ratio.
Correlation
The correlation between CMF and EBND is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
CMF vs. EBND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares California Muni Bond ETF (CMF) and SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
CMF vs. EBND - Dividend Comparison
CMF's dividend yield for the trailing twelve months is around 2.74%, less than EBND's 5.85% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMF iShares California Muni Bond ETF | 2.74% | 2.28% | 1.74% | 1.58% | 1.80% | 2.03% | 2.17% | 2.09% | 2.21% | 2.55% | 2.80% | 3.11% |
EBND SPDR Bloomberg Barclays Emerging Markets Local Bond ETF | 5.85% | 5.27% | 4.74% | 3.83% | 3.67% | 4.68% | 4.70% | 2.00% | 0.00% | 0.00% | 0.24% | 2.31% |
Drawdowns
CMF vs. EBND - Drawdown Comparison
The maximum CMF drawdown since its inception was -16.45%, smaller than the maximum EBND drawdown of -29.50%. Use the drawdown chart below to compare losses from any high point for CMF and EBND. For additional features, visit the drawdowns tool.
Volatility
CMF vs. EBND - Volatility Comparison
The current volatility for iShares California Muni Bond ETF (CMF) is 2.02%, while SPDR Bloomberg Barclays Emerging Markets Local Bond ETF (EBND) has a volatility of 3.05%. This indicates that CMF experiences smaller price fluctuations and is considered to be less risky than EBND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.