CMF vs VTI
iShares California Municipal Bond ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, CMF or VTI?
Municipal California against Large Cap Blend.
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CMF | VTI |
|---|---|---|
| Expense Ratio | 0.08% | 0.03%Best |
| AUM | $4.6B | $666.9B |
| Dividend Yield | 3.01% | 1.03% |
| Holdings | 1,595 | 3,543 |
| YTD Return | -2.29% | +12.30%Best |
| 1Y Return | -0.68% | +16.08%Best |
| 3Y Return (annualized) | +2.49% | +21.01%Best |
| 5Y Return (annualized) | -0.06% | +12.36%Best |
| Volatility (annualized) | 5.6%Best | 16.1% |
| Max Drawdown | -22.8%Best | -56.6% |
| $10,000 over 5 years | $9,970 | $17,908Best |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal California | Large Cap Blend |
| Inception | Oct 4, 2007 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 5, 2007 to Sep 18, 2026 (19 years).
CMF vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
CMF vs VTI Performance
iShares California Municipal Bond ETF (CMF) is an ETF from iShares by BlackRock (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year CMF returned -0.68% while VTI returned +16.08%. Year to date, CMF is down 2.29% versus a gain of 12.30% for VTI.
Over three years, CMF compounded at +2.49% per year against +21.01% for VTI; over five years the annualized figures are -0.06% and +12.36% respectively. Across the full 19-year window we track, VTI has the edge at +9.13% annualized vs +1.03%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 5.6% for CMF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -22.8% for CMF and -56.6% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.28. They move largely independently of each other.
Fees and Cost Over Time
CMF charges 0.08% per year while VTI charges 0.03%. On a $10,000 position that is $8 vs $3 annually, a gap of $5 per year that compounds over a long holding period. On income, CMF currently yields 3.01% against 1.03% for VTI.
Holdings Overlap
We hold position weights for 474 holdings in CMF and 3,463 in VTI, totalling 25.3% and 98.1% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 474 positions we hold weights for in CMF and 3,463 in VTI, against full books of 1,595 and 3,543.
You are not choosing between two funds in isolation.
Whichever of CMF and VTI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CMF or VTI?
CMF has an expense ratio of 0.08% while VTI charges 0.03%. VTI is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, CMF or VTI?
Over the past year CMF returned -0.68% vs +16.08% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (19 years), CMF annualized +1.03% vs +9.13% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CMF or VTI?
VTI has been the more volatile fund at 16.1% annualized versus 5.6% for CMF. Worst drawdown: CMF -22.8% vs VTI -56.6%.
Should I hold both CMF and VTI?
CMF and VTI have a monthly-return correlation of 0.28, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CMF or VTI?
CMF yields 3.01% while VTI yields 1.03%, so CMF currently pays the higher dividend yield.
Is VTI better than CMF?
VTI has a lower expense ratio. VTI led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.