CMF vs. MBB
Compare and contrast key facts about iShares California Muni Bond ETF (CMF) and iShares MBS Bond ETF (MBB).
CMF and MBB 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. MBB is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Mar 16, 2007. Both CMF and MBB 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 MBB.
Performance
CMF vs. MBB - Performance Comparison
Returns By Period
In the year-to-date period, CMF achieves a 1.48% return, which is significantly higher than MBB's 1.21% return. Over the past 10 years, CMF has outperformed MBB with an annualized return of 1.99%, while MBB has yielded a comparatively lower 0.84% annualized return.
CMF
1.48%
-0.27%
2.17%
5.45%
0.81%
1.99%
MBB
1.21%
-2.17%
2.93%
6.73%
-0.71%
0.84%
Key characteristics
| CMF | MBB | |
|---|---|---|
| Sharpe Ratio | 1.55 | 1.12 |
| Sortino Ratio | 2.22 | 1.64 |
| Omega Ratio | 1.30 | 1.20 |
| Calmar Ratio | 0.83 | 0.54 |
| Martin Ratio | 6.68 | 3.67 |
| Ulcer Index | 0.89% | 2.02% |
| Daily Std Dev | 3.82% | 6.60% |
| Max Drawdown | -16.45% | -17.65% |
| Current Drawdown | -2.05% | -7.78% |
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CMF vs. MBB - Expense Ratio Comparison
CMF has a 0.25% expense ratio, which is higher than MBB's 0.06% 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%.
Correlation
The correlation between CMF and MBB is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Risk-Adjusted Performance
CMF vs. MBB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares California Muni Bond ETF (CMF) and iShares MBS Bond ETF (MBB). 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. MBB - Dividend Comparison
CMF's dividend yield for the trailing twelve months is around 2.74%, less than MBB's 3.87% 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% |
MBB iShares MBS Bond ETF | 3.87% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.63% | 2.23% | 2.58% | 2.66% | 1.72% | 1.27% |
Drawdowns
CMF vs. MBB - Drawdown Comparison
The maximum CMF drawdown since its inception was -16.45%, smaller than the maximum MBB drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for CMF and MBB. For additional features, visit the drawdowns tool.
Volatility
CMF vs. MBB - Volatility Comparison
iShares California Muni Bond ETF (CMF) and iShares MBS Bond ETF (MBB) have volatilities of 2.02% and 1.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.