California Muni Bond Fund (CMF)

municipal-bonds monthly-dividends

A passively managed ETF that tracks the S&P California AMT-Free Municipal Bond Index. It invests in investment-grade municipal bonds issued by California state and local governments, offering tax-exempt income for California residents. CMF has an expense ratio of 0.25%, which is relatively low for municipal bond ETFs. The fund pays monthly dividends, providing regular income to investors. Its weighting methodology is based on market value, with larger bond issues receiving higher allocations in the portfolio. A key differentiating quality of CMF is its focus on California municipal bonds, making it particularly attractive to California residents seeking tax-advantaged income. The ETF typically holds between 500 to 600 different municipal bond issues, providing broad diversification within the California municipal bond market.