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Upturn AI SWOT - About
iShares California Muni Bond ETF (CMF)
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Upturn Advisory Summary
03/24/2025: CMF (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Analysis of Past Performance
Type ETF | Historic Profit -3.97% | Avg. Invested days 33 | Today’s Advisory WEAK BUY |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 03/24/2025 |
Key Highlights
Volume (30-day avg) 349680 | Beta 0.94 | 52 Weeks Range 55.05 - 57.73 | Updated Date 03/28/2025 |
52 Weeks Range 55.05 - 57.73 | Updated Date 03/28/2025 |
Upturn AI SWOT
iShares California Muni Bond ETF
ETF Overview
Overview
The iShares California Muni Bond ETF (CMF) seeks to track the investment results of an index composed of investment-grade California municipal bonds. It offers exposure to California's municipal bond market, providing income exempt from federal and California state income taxes. The ETF primarily focuses on bonds with varying maturities and credit quality within the investment-grade range.
Reputation and Reliability
iShares, managed by BlackRock, is a reputable and reliable ETF provider with a strong track record in the market.
Management Expertise
BlackRock possesses extensive experience and expertise in managing fixed-income ETFs, including municipal bond funds.
Investment Objective
Goal
The ETF's goal is to provide investment results that correspond to the price and yield performance of the S&P California AMT-Free Municipal Bond Index.
Investment Approach and Strategy
Strategy: The ETF tracks the S&P California AMT-Free Municipal Bond Index, which measures the performance of investment-grade California municipal bonds exempt from the alternative minimum tax (AMT).
Composition The ETF primarily holds California municipal bonds with varying maturities and credit ratings within the investment-grade range.
Market Position
Market Share: CMF holds a substantial market share within the California municipal bond ETF sector.
Total Net Assets (AUM): 1085000000
Competitors
Key Competitors
- Invesco California Value Municipal Income Trust (VCV)
- Nuveen California Quality Municipal Income Fund (NAC)
- Nuveen AMT-Free Quality Municipal Income Fund (NEA)
Competitive Landscape
The California municipal bond ETF market is moderately competitive. CMF benefits from BlackRock's brand recognition and typically exhibits higher liquidity. Competitors may offer slightly different portfolio compositions or leverage strategies, impacting risk and return profiles. CMF's large AUM is an advantage.
Financial Performance
Historical Performance: Historical performance data needs to be retrieved to provide specific values. Past performance does not guarantee future results.
Benchmark Comparison: Comparison against the S&P California AMT-Free Municipal Bond Index needs to be performed to assess tracking effectiveness.
Expense Ratio: 0.05
Liquidity
Average Trading Volume
The ETF typically exhibits moderate average daily trading volume, providing sufficient liquidity for most investors.
Bid-Ask Spread
The bid-ask spread is generally tight, reflecting the ETF's liquidity and minimizing trading costs.
Market Dynamics
Market Environment Factors
Interest rate changes, California's economic health, and tax policy changes significantly impact the ETF's performance. Investor demand for tax-exempt income also plays a role.
Growth Trajectory
The ETF's growth is closely tied to the overall municipal bond market and investor demand for California-specific tax-exempt income; no major strategy change to report.
Moat and Competitive Advantages
Competitive Edge
CMF benefits from BlackRock's established presence and brand recognition in the ETF market, leading to high investor confidence. The ETF is designed for tax-exempt income. Its relatively low expense ratio is also a key advantage. Furthermore, its large AUM contributes to enhanced liquidity. The ETF has a large number of individual municipal bond holdings, which allows the fund to diversify risk.
Risk Analysis
Volatility
Municipal bond ETFs generally exhibit lower volatility compared to equity ETFs, but are still subject to interest rate risk and credit risk.
Market Risk
Specific risks include interest rate risk (bond prices decline as rates rise), credit risk (risk of issuer default), and California-specific economic and political risks.
Investor Profile
Ideal Investor Profile
The ideal investor is a high-income individual residing in California seeking tax-exempt income and diversification within their fixed-income portfolio. Investors seeking stability and reduced volatility as compared to the stock market might also find this attractive.
Market Risk
This ETF is best suited for long-term investors seeking a stable source of tax-advantaged income. It can be used as a component of a diversified portfolio and is typically considered a passive investment.
Summary
The iShares California Muni Bond ETF (CMF) offers a convenient way to access California's municipal bond market and generate tax-exempt income. Managed by BlackRock, a reputable firm, the ETF tracks the S&P California AMT-Free Municipal Bond Index. While it's subject to interest rate and credit risk, its diversified portfolio of investment-grade California municipal bonds makes it a suitable option for long-term investors seeking stable income. The ETF benefits from a low expense ratio and ample liquidity and its historical performance is adequate in comparison to it's benchmark.
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Sources and Disclaimers
Data Sources:
- iShares Website
- BlackRock Website
- SEC Filings
- Morningstar
Disclaimers:
This analysis is for informational purposes only and does not constitute investment advice. Past performance is not indicative of future results. Consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About iShares California Muni Bond ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
The index includes municipal bonds issued in the State of California, the interest of which is exempt from Federal income taxes and not subject to AMT. The fund will invest at least 80% of its assets in the component securities of the underlying index, and the fund will invest at least 90% of its assets in fixed income securities of the types included in the underlying index that the advisor believes will help the fund track the underlying index. It is non-diversified.
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