CMF vs. SUB - ETF Comparison
CMF - iShares California Muni Bond ETF
The iShares California Muni Bond ETF provides exposure to investment-grade municipal bonds issued by California authorities, offering a diversified portfolio of 1191 holdings with a focus on broad maturities. This fund is a popular choice for investors seeking to tap into the California municipal bond market, which has been in focus due to the state's budget issues.
SUB - iShares Short-Term National Muni Bond ETF
The iShares Short-Term National Muni Bond ETF is a fixed income fund that tracks an index of short-term municipal bonds, providing tax-efficient income and relatively low risk. The fund offers broad diversification with over 2,300 holdings, making it a solid choice for investors seeking exposure to the US municipal bond market with lower levels of risk.
| CMF | SUB | |
|---|---|---|
| Fund Name | iShares California Muni Bond ETF | iShares Short-Term National Muni Bond ETF |
| Fund Provider | BlackRock | BlackRock |
| Index | S&P California AMT-Free Municipal Bond Index | ICE Short Maturity AMT-Free US National Municipal |
| Asset Class | Bonds | Bonds |
| Listing | US-listed | US-listed |
| Expense Ratio | 0.08% | 0.07% |
| Inception Date | 2007-10-04 | 2008-11-05 |
| Number Of Holdings | 1191 | 2379 |
| Currency | USD | USD |
| Region | United States | United States |
| Bond Type | Municipal Bonds | Municipal Bonds |
| Leveraged | Non-leveraged | Non-leveraged |
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Key Metrics
Performance Metrics
Risk Metrics
Detailed Returns
Benchmark Comparison
Key Metrics
Performance Metrics
Risk Metrics
Detailed Returns
Benchmark Comparison
Performance Analysis
The performance analysis examines historical data to assess the returns of the investment strategy, including key metrics such as Cumulative returns, End of Year (EoY) returns, and risk-adjusted returns like the Sharpe ratio or the Sortino ratio.
Cumulative Returns
End of Year Returns Table
End of Year Returns
Risk Analysis
The risk analysis refers to an assessment of potential negative events that could lead to a loss of capital. Conducting a risk analysis can help in deciding whether an investment should be made. This is done using risk metrics such as drawdowns, volatility and beta which reflect stakeholders' confidence in the consistency of an investment strategy.
Drawdowns
Drawdowns Table
Monte Carlo Simulation
The Monte Carlo simulation is a statistical method used to forecast portfolio returns by generating a wide range of potential outcomes through random sampling from historical asset price data. It helps investors assess the potential risk and return of a portfolio under various market conditions. The simulation takes into account the initial investment and optionally simulates cash flow scenarios like fixed contributions, fixed withdrawals, or percentage withdrawals.
IMPORTANT: The forecast generated through Monte Carlo simulations is purely hypothetical and does not guarantee future returns. Investment decisions should be made with consideration of various factors, and past performance is not indicative of future results.