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CMF vs. GVI
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between CMF and GVI is -0.16. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.


-0.50.00.51.0
Correlation: -0.2

Performance

CMF vs. GVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares California Muni Bond ETF (CMF) and iShares Intermediate Government/Credit Bond ETF (GVI). The values are adjusted to include any dividend payments, if applicable.

55.00%60.00%65.00%70.00%75.00%NovemberDecember2025FebruaryMarchApril
70.98%
61.05%
CMF
GVI

Key characteristics

Sharpe Ratio

CMF:

0.03

GVI:

2.19

Sortino Ratio

CMF:

0.07

GVI:

3.42

Omega Ratio

CMF:

1.01

GVI:

1.41

Calmar Ratio

CMF:

0.03

GVI:

0.97

Martin Ratio

CMF:

0.10

GVI:

6.60

Ulcer Index

CMF:

1.49%

GVI:

1.08%

Daily Std Dev

CMF:

5.03%

GVI:

3.27%

Max Drawdown

CMF:

-16.45%

GVI:

-12.93%

Current Drawdown

CMF:

-4.25%

GVI:

-0.51%

Returns By Period

In the year-to-date period, CMF achieves a -2.57% return, which is significantly lower than GVI's 2.72% return. Both investments have delivered pretty close results over the past 10 years, with CMF having a 1.60% annualized return and GVI not far ahead at 1.67%.


CMF

YTD

-2.57%

1M

-0.69%

6M

-1.63%

1Y

0.57%

5Y*

0.46%

10Y*

1.60%

GVI

YTD

2.72%

1M

0.88%

6M

2.52%

1Y

7.34%

5Y*

0.53%

10Y*

1.67%

*Annualized

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CMF vs. GVI - Expense Ratio Comparison

CMF has a 0.25% expense ratio, which is higher than GVI's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


Expense ratio chart for CMF: current value is 0.25%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
CMF: 0.25%
Expense ratio chart for GVI: current value is 0.20%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
GVI: 0.20%

Risk-Adjusted Performance

CMF vs. GVI — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMF
The Risk-Adjusted Performance Rank of CMF is 2222
Overall Rank
The Sharpe Ratio Rank of CMF is 2323
Sharpe Ratio Rank
The Sortino Ratio Rank of CMF is 1919
Sortino Ratio Rank
The Omega Ratio Rank of CMF is 1919
Omega Ratio Rank
The Calmar Ratio Rank of CMF is 2424
Calmar Ratio Rank
The Martin Ratio Rank of CMF is 2424
Martin Ratio Rank

GVI
The Risk-Adjusted Performance Rank of GVI is 9191
Overall Rank
The Sharpe Ratio Rank of GVI is 9595
Sharpe Ratio Rank
The Sortino Ratio Rank of GVI is 9696
Sortino Ratio Rank
The Omega Ratio Rank of GVI is 9494
Omega Ratio Rank
The Calmar Ratio Rank of GVI is 8282
Calmar Ratio Rank
The Martin Ratio Rank of GVI is 8888
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

CMF vs. GVI - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares California Muni Bond ETF (CMF) and iShares Intermediate Government/Credit Bond ETF (GVI). 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.


The chart of Sharpe ratio for CMF, currently valued at 0.03, compared to the broader market-1.000.001.002.003.004.00
CMF: 0.03
GVI: 2.19
The chart of Sortino ratio for CMF, currently valued at 0.07, compared to the broader market-2.000.002.004.006.008.00
CMF: 0.07
GVI: 3.42
The chart of Omega ratio for CMF, currently valued at 1.01, compared to the broader market0.501.001.502.002.50
CMF: 1.01
GVI: 1.41
The chart of Calmar ratio for CMF, currently valued at 0.03, compared to the broader market0.002.004.006.008.0010.0012.00
CMF: 0.03
GVI: 0.97
The chart of Martin ratio for CMF, currently valued at 0.10, compared to the broader market0.0020.0040.0060.00
CMF: 0.10
GVI: 6.60

The current CMF Sharpe Ratio is 0.03, which is lower than the GVI Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of CMF and GVI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio0.000.501.001.502.00NovemberDecember2025FebruaryMarchApril
0.03
2.19
CMF
GVI

Dividends

CMF vs. GVI - Dividend Comparison

CMF's dividend yield for the trailing twelve months is around 2.94%, less than GVI's 3.36% yield.


TTM20242023202220212020201920182017201620152014
CMF
iShares California Muni Bond ETF
2.94%2.78%2.29%1.91%1.58%1.80%2.03%2.17%2.09%2.21%2.55%2.80%
GVI
iShares Intermediate Government/Credit Bond ETF
3.36%3.40%2.75%1.86%1.46%1.84%2.29%2.16%1.91%1.77%1.75%1.72%

Drawdowns

CMF vs. GVI - Drawdown Comparison

The maximum CMF drawdown since its inception was -16.45%, which is greater than GVI's maximum drawdown of -12.93%. Use the drawdown chart below to compare losses from any high point for CMF and GVI. For additional features, visit the drawdowns tool.


-6.00%-5.00%-4.00%-3.00%-2.00%-1.00%0.00%NovemberDecember2025FebruaryMarchApril
-4.25%
-0.51%
CMF
GVI

Volatility

CMF vs. GVI - Volatility Comparison

iShares California Muni Bond ETF (CMF) has a higher volatility of 3.52% compared to iShares Intermediate Government/Credit Bond ETF (GVI) at 1.28%. This indicates that CMF's price experiences larger fluctuations and is considered to be riskier than GVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


1.00%1.50%2.00%2.50%3.00%3.50%NovemberDecember2025FebruaryMarchApril
3.52%
1.28%
CMF
GVI