ETF comparison
CMF vs VTEB
Both US Municipal Bond.
iShares California Muni Bond ETF · Vanguard Tax-Exempt Bond Index Fund ETF Shares
Holdings overlap
638 positions appear in both funds. Buying equal dollars of CMF and VTEB would leave roughly 6.8% of each dollar exposed to the same underlying securities.
Side by side
Sub-score comparison
Tracking quality isn't part of the composite — see what we don't score for why.
Cost difference
VTEB is 5 bps cheaper than CMF. On a $100,000 position that's about $50/yr more in fees for CMF.
Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with CMF vs VTEB.
Top shared holdings
638 shared in total| # | Holding | In CMF | In VTEB | Overlap |
|---|---|---|---|---|
| 1 | University of California | 0.46% | 0.12% | 0.12% |
| 2 | State of California | 0.32% | 0.11% | 0.11% |
| 3 | Los Angeles Department of Water & Power | 0.13% | 0.08% | 0.08% |
| 4 | Los Angeles Unified School District | 0.14% | 0.07% | 0.07% |
| 5 | Los Angeles Unified School District | 0.50% | 0.07% | 0.07% |
| 6 | California Educational Facilities Authority | 0.20% | 0.07% | 0.07% |
| 7 | University of California | 0.24% | 0.06% | 0.06% |
| 8 | Los Angeles Unified School District | 0.53% | 0.06% | 0.06% |
| 9 | State of California | 0.20% | 0.06% | 0.06% |
| 10 | State of California | 0.18% | 0.05% | 0.05% |
| 11 | State of California | 0.08% | 0.05% | 0.05% |
| 12 | State of California | 0.14% | 0.05% | 0.05% |
Only in CMF
887 total- San Francisco City & County Airport Comm-San Francisco International Airport 0.41%
- Orange County Water District 0.40%
- University of California 0.36%
- Bay Area Toll Authority 0.34%
- University of California 0.30%
- Los Angeles Community College District 0.30%
- Beverly Hills Unified School District 0.27%
- Anaheim Housing & Public Improvements Authority 0.26%
- University of California 0.26%
- State of California 0.26%
Only in VTEB
9,547 total- Triborough Bridge & Tunnel Authority 0.11%
- Colorado State Education Loan Program 0.11%
- New York City Transitional Finance Authority Future Tax Secured Revenue 0.09%
- Dallas Independent School District 0.09%
- Ohio Water Development Authority Water Pollution Control Loan Fund 0.08%
- New York State Dormitory Authority 0.08%
- New York State Dormitory Authority 0.08%
- Ohio State University/The 0.08%
- New York City Transitional Finance Authority Future Tax Secured Revenue 0.08%
- Public Finance Authority 0.08%
Open CMF or VTEB at a brokerage
Both funds trade commission-free at major US brokerages.
Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.
Holdings overlap is the sum of min(weight_a, weight_b) over positions
matched on ISIN (CUSIP fallback). Methodology: see
/methodology/.
Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.