CMF vs BILS

Comparison between ISHARES CALIFORNIA MUNI BOND ETF (CMF, ETF) and SPDR BLOOMBERG 3-12 MONTH T-BILL ETF (BILS, ETF).

5-Year PerformanceBILS has outperformed CMF, delivering a return of +3.2% compared to +0.6%

CMF vs BILS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CMF(ETF)	BILS(ETF)
Net Assets	$4.10B	$4.10B
Expense Ratio	0.08%	0.14%
Max Drawdown	22.81%	1.20%
Sharpe Ratio	0.72	1.17
5Y Beta	0.03	-0.00
5Y Dividends CAGR	11.08%	N/A

Net Assets

CMF

$4.10B

BILS

$4.10B

Expense Ratio

Winner

CMF

0.08%

BILS

0.14%

Max Drawdown

CMF

22.81%

Winner

BILS

1.20%

Sharpe Ratio

CMF

0.72

Winner

BILS

1.17

5Y Beta

CMF

0.03

Winner

BILS

-0.00

5Y Dividends CAGR

CMF

11.08%

BILS

N/A

CMF vs BILS - Historical Returns

Returns include dividend reinvestment.

Period	CMF	BILS
1 month	+0.35%	+0.30%
3 months	-0.46%	+0.84%
6 months	+1.19%	+1.79%
1 year	+6.02%	+3.98%
5 years(CAGR)	+0.64%	+3.25%
10 years(CAGR)	+1.73%	N/A
Max(CAGR)	+3.29%	+2.89%

Winner

CMF

+0.35%

BILS

+0.30%

CMF

-0.46%

Winner

BILS

+0.84%

CMF

+1.19%

Winner

BILS

+1.79%

Winner

CMF

+6.02%

BILS

+3.98%

5Y(CAGR)

CMF

+0.64%

Winner

BILS

+3.25%

10Y(CAGR)

CMF

+1.73%

BILS

N/A

Max(CAGR)

Winner

CMF

+3.29%

BILS

+2.89%

CMF vs BILS - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	CMF	BILS
2026	+0.58%	+1.16%
2025	+3.22%	+4.19%
2024	+1.78%	+5.15%
2023	+5.24%	+4.92%
2022	-8.18%	+0.91%
2021	+0.77%	-0.08%
2020	+4.50%	+0.00%
2019	+7.01%	N/A
2018	+0.92%	N/A
2017	+4.69%	N/A
2016	-0.37%	N/A
2015	+3.00%	N/A
2014	+10.66%	N/A
2013	-3.23%	N/A
2012	+7.34%	N/A
2011	+15.75%	N/A
2010	-2.55%	N/A
2009	+8.14%	N/A
2008	+0.64%	N/A
2007	+1.37%	N/A

CMF vs BILS Drawdown Comparison

The maximum drawdown for CMF was -16.45%, occurring on Jun 10, 2015. Recovery took 1295 trading sessions.

The maximum drawdown for BILS was -0.41%, occurring on Jun 14, 2022. Recovery took 415 trading sessions.

The current CMF drawdown is -1.23%.

Rank	CMF	BILS
#1	-16.45% Dec 26, 2014 - Feb 20, 2020	-0.41% Feb 5, 2021 - Sep 29, 2022
#2	-14.57% Mar 9, 2020 - Jul 16, 2020	-0.08% Oct 6, 2022 - Oct 27, 2022
#3	-13.25% May 21, 2008 - Jan 7, 2009	-0.07% Mar 17, 2023 - Mar 23, 2023
#4	-12.46% Aug 3, 2021 - Sep 18, 2025	-0.04% Feb 1, 2024 - Feb 7, 2024
#5	-11.65% Sep 1, 2010 - Aug 2, 2011	-0.04% Apr 5, 2023 - Apr 13, 2023
#6	-10.57% Nov 30, 2012 - Apr 10, 2014	-0.04% Mar 13, 2023 - Mar 15, 2023
#7	-5.15% Jan 22, 2008 - May 21, 2008	-0.03% Mar 2, 2023 - Mar 9, 2023
#8	-4.75% Apr 27, 2009 - Aug 17, 2009	-0.03% Apr 8, 2025 - Apr 11, 2025
#9	-4.19% Sep 24, 2009 - Apr 27, 2010	-0.03% Apr 13, 2023 - Apr 19, 2023
#10	-3.80% Apr 18, 2012 - Sep 28, 2012	-0.03% Nov 10, 2022 - Nov 17, 2022
#11	-3.05% Jan 14, 2009 - Feb 9, 2009	-0.03% Oct 28, 2025 - Oct 31, 2025
#12	-2.91% Feb 27, 2026 - Mar 24, 2026	-0.03% Mar 24, 2023 - Mar 30, 2023
#13	-2.89% Sep 22, 2011 - Dec 8, 2011	-0.02% Oct 9, 2020 - Feb 5, 2021
#14	-2.72% Feb 11, 2009 - Mar 24, 2009	-0.02% Dec 17, 2024 - Dec 19, 2024
#15	-2.18% Feb 12, 2021 - Jun 11, 2021	-0.02% Mar 15, 2023 - Mar 17, 2023

Correlation

Correlation between CMF and BILS is 0.51 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.51

-101

Dividend Comparison (2007 - 2026)

CMF vs BILS dividend yield comparison.

Year	CMF	BILS
2026	0.98%	1.16%
2025	2.94%	4.08%
2024	2.78%	5.01%
2023	2.29%	4.98%
2022	1.91%	1.61%
2021	1.58%	0.00%
2020	1.80%	0.00%
2019	2.03%	0.00%
2018	2.17%	0.00%
2017	2.09%	0.00%
2016	2.21%	0.00%
2015	2.55%	0.00%
2014	2.80%	0.00%
2013	3.12%	0.00%
2012	3.08%	0.00%
2011	3.66%	0.00%
2010	4.19%	0.00%
2009	3.77%	0.00%
2008	3.52%	0.00%
2007	0.82%	0.00%