CMF vs. MUB
Compare and contrast key facts about iShares California Muni Bond ETF (CMF) and iShares National AMT-Free Muni Bond ETF (MUB).
CMF and MUB 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. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007. Both CMF and MUB 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 MUB.
Performance
CMF vs. MUB - Performance Comparison
Returns By Period
In the year-to-date period, CMF achieves a 1.48% return, which is significantly lower than MUB's 1.59% return. Over the past 10 years, CMF has underperformed MUB with an annualized return of 1.99%, while MUB has yielded a comparatively higher 2.20% annualized return.
CMF
1.48%
-0.27%
2.17%
5.45%
0.81%
1.99%
MUB
1.59%
-0.32%
2.30%
5.64%
1.22%
2.20%
Key characteristics
| CMF | MUB | |
|---|---|---|
| Sharpe Ratio | 1.55 | 1.55 |
| Sortino Ratio | 2.22 | 2.23 |
| Omega Ratio | 1.30 | 1.30 |
| Calmar Ratio | 0.83 | 0.93 |
| Martin Ratio | 6.68 | 6.44 |
| Ulcer Index | 0.89% | 0.94% |
| Daily Std Dev | 3.82% | 3.90% |
| Max Drawdown | -16.45% | -13.68% |
| Current Drawdown | -2.05% | -1.19% |
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CMF vs. MUB - Expense Ratio Comparison
CMF has a 0.25% expense ratio, which is higher than MUB's 0.07% 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 MUB is 0.55, 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. MUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares California Muni Bond ETF (CMF) and iShares National AMT-Free Muni Bond ETF (MUB). 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. MUB - Dividend Comparison
CMF's dividend yield for the trailing twelve months is around 2.74%, less than MUB's 2.95% 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% |
MUB iShares National AMT-Free Muni Bond ETF | 2.95% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% | 2.73% | 3.02% |
Drawdowns
CMF vs. MUB - Drawdown Comparison
The maximum CMF drawdown since its inception was -16.45%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for CMF and MUB. For additional features, visit the drawdowns tool.
Volatility
CMF vs. MUB - Volatility Comparison
iShares California Muni Bond ETF (CMF) and iShares National AMT-Free Muni Bond ETF (MUB) have volatilities of 2.02% and 1.95%, 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.