iShares California Muni Bond ETF
CMF
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 50 Hudson Yards New York NY United States of America 10001
- IPO Date
- Oct 11, 2007
- CIK
- 0001100663
- Website
- ishares.com
- Similar Companies
- Business
- iShares California Muni Bond ETF (CMF) is an exchange-traded fund that seeks to track the investment results of an index composed of investment-grade municipal bonds issued by the state of California and its local municipalities, providing tax-exempt income to investors. The fund offers exposure to a diversified portfolio of fixed-income securities, including general obligation bonds, revenue bonds, and pre-refunded bonds from issuers such as state agencies, cities, counties, school districts, and public utilities within California; it primarily invests at least 80% of its assets in these municipal securities rated investment-grade or determined to be of equivalent quality, with maturities typically ranging from short to intermediate terms. Managed by BlackRock, Inc., under the iShares brand, CMF was launched in 2007 and is domiciled in the United States with primary listing on the NYSE Arca exchange. The ETF's core offerings focus on tax-efficient income generation for individual and institutional investors seeking California-specific municipal bond exposure, targeting high-tax bracket investors who benefit from federal tax exemption and potential state tax exemptions; it employs a representative sampling strategy to replicate index performance while minimizing tracking error through securities lending and other cash management techniques. Geographically, operations are centered on California's municipal debt market, covering issuers across the state from urban centers like Los Angeles and San Francisco to rural areas, with no international exposure. In recent developments, BlackRock announced enhancements to its iShares municipal bond ETF suite in 2024, including CMF, with improved liquidity provisions and expanded holdings to adapt to rising interest rates and increased municipal issuance amid California's budget dynamics; the fund participated in BlackRock's broader strategic shift toward active overlays in fixed income ETFs, launched in late 2024, allowing for limited manager discretion to optimize yield in volatile markets. No major acquisitions, funding rounds, or name changes have occurred for CMF itself in the last two years, though BlackRock completed the acquisition of Global Infrastructure Partners in 2024, indirectly bolstering its ETF infrastructure capabilities. CMF continues to operate as a standalone ETF with no subsidiaries, fully backed by BlackRock's iShares platform headquartered in New York.