iShares California Muni Bond ETF (CMF)
ARCA ARCA Primary 
REGS 
Live in New York or California? These State Muni ETFs Keep Thousands More of Every $10,000 in Interest Than a National Fund
State income taxes can quietly erase a meaningful slice of municipal bond interest even when federal taxes are off the table. Where you live and which bonds you own may matter far more than most income investors realize.
JPMorgan Converts $950M to Active NY, CA Muni ETFs
This week J.P. Morgan Asset Management launched two actively managed municipal bond ETFs focused on California and New York debt, offering investors a way to earn tax-free income inside a more flexible and transparent fund structure.
The Tax Free Muni Bond Portfolio That Replaces a $75,000 Salary at $1.6 Million Invested
A $75,000 salary sits at the top of the U.S. median household range, but for a retiree in a high federal and state bracket, replacing it with taxable income means earning much more before Uncle Sam takes his cut.
Your Treasury Income May Already Be Paying California, Unless You're Holding It in This ETF
Tony Dong is the founder of ETF Portfolio Blueprint.
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.
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%.
