CMF: California Should Be Fine, But Not Crazy About The Duration

The iShares California Muni Bond ETF (CMF) offers exposure to intermediate-duration bonds that seem to be resilient in terms of credit rating though in a cross-current. CMF's performance closely tracks the broader iShares Muni ETF (MUB). Risks include potential federal funding freezes, trade policy impacts, and duration sensitivity. The former two risks are at least mitigated in agency and public utility exposures.

Seeking Alpha • Oct 8, 2025

CMF: Only For Californians And Even Then

CMF is only suitable for high-income California residents seeking tax-free income, due to its structure and the state's high tax rates. The fund offers broad diversification, low fees, and strong liquidity, but its yield is only compelling at the top tax brackets. Munis pay lower coupons because tax breaks attract high earners, pushing yields down for everyone else—making CMF unattractive for most investors.

Seeking Alpha • Jun 22, 2025

Municipal Bond Funds: Time To Shine Or Curtain Call?

Municipal bonds are back to offer compelling risk-adjusted opportunities, but future decisions from Washington can either act as a tailwind or headwind. Municipal bond funds saw net inflows during 2024, first annual inflow since 2021—which was a record year. 2024 was a record year in municipal bond issuance. With attractive yields, the market may start to pay more attention to tax-equivalent yield advantages offered through municipal debt.

Seeking Alpha • Mar 13, 2025

CMF: Good For California Residents

The iShares California Muni Bond ETF offers tax-free income with a low expense ratio of 0.08%, focusing on high-quality California municipal bonds. The fund is highly diversified, with the largest bond allocation at just 0.77%, and focuses on key services like schools and utilities. With 81% of the portfolio rated AA, the ETF provides stability and steady income, boasting a 30-day SEC yield of 3.2%.

Seeking Alpha • Nov 10, 2024

Municipal Fixed Income: Shelter From The Storm?

Specific to the muni market, perhaps the biggest surprise this year has been new issue supply that is running well ahead of expectations, up roughly 40% from last year. We think this increased summer issuance is likely the result of deals getting pulled forward, as issuers may be cautious about coming to market later in the fall ahead of what is likely to be an uncertain U.S. political climate. While municipal credit quality has already peaked, it is entering this period of moderating economic growth from a position of strength.

Seeking Alpha • Aug 26, 2024

Q4 Report: Tax-Exempt Bond Funds Hit Second Highest Quarterly Return As Fixed Income Rebounds From Q3 Loss

Q4 Report: Tax-Exempt Bond Funds Hit Second Highest Quarterly Return As Fixed Income Rebounds From Q3 Loss

Seeking Alpha • Jan 12, 2024

How to tell if it is worth avoiding taxes with a municipal bond ETF

As interest rates have risen, investors have been attracted to bank certificates of deposits and short-term U.S. Treasury securities because they have been able to take very little risk to receive yields of 5% or more. But interest payments from bank accounts and from Treasury securities are taxed in different ways, and your after-tax yields may be paltry.

Market Watch • Oct 7, 2023

This Week in ETFs: Shortened Week Yields 4 Launches

With only four trading days during the week, ETF launches were few and far between. Only four new funds launched this week.

ETF Trends • Sep 8, 2023

Munis Maintain Summer Heat In July

Demand outpaced supply and prompted strong absolute and relative performance. Rich valuations and waning seasonal trends warrant some near-term caution going forward.

Seeking Alpha • Aug 15, 2023

Why Muni Mutual Fund and ETF Flows Are Diverging

Pat Luby, CreditSights senior municipal strategist, discusses the divergence between muni mutual funds and muni ETF flows with Vonnie Quinn and Romaine Bostick on "Bloomberg Markets: The Close." Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.

Bloomberg Markets and Finance • May 17, 2023