CMF vs FCAL
iShares California Muni Bond ETF compared with First Trust California Municipal High Income ETF on yield, payout growth, payment schedule, cost and risk.
CMF
iShares California Muni Bond ETF
TTM yield · Monthly
FCAL
First Trust California Municipal High Income ETF
TTM yield · Monthly
Quick take
- FCAL yields more today: 3.59% vs 3.07% (forward).
- Both pay every month.
- Over the last year FCAL delivered the higher total return: +0.6% vs -0.8% (price change plus payouts).
- CMF is cheaper to own: 0.08% vs 0.49% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | CMF | FCAL |
|---|---|---|
| Share price | $54.91 | $47.35 |
| TTM yield | 3.07% | 3.59% |
| Forward yield | 3.07% | 3.59% |
| Annual payout per share | $1.686 | $1.699 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Oct 31, 2026 (est.) | Nov 20, 2026 (est.) |
| Expense ratio | 0.08% | 0.49% |
| 1-year payout growth | — | +7.9% |
| 5-year payout CAGR | — | +8.7% |
| Consecutive years of increases | — | 4 years |
| Payout consistency (last 12) | 99/100 | 98/100 |
| 1-year total return | -0.8% | +0.6% |
| 1-year price return | -3.7% | -2.9% |
| Size (market cap / AUM) | 4.8B | 210.4M |
| Years paying | 19.0 | 9.3 |
| Sector / category | Muni California Long | Muni California Long |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| CMF | FCAL | |
|---|---|---|
| Shares | 182.1 | 211.2 |
| Income per year | $307 | $359 |
| Income per month (avg) | $26 | $30 |
At forward yields, before taxes. Model CMF · Model FCAL
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| CMF Oct 31, 2026 | Nov 14, 2026 | $0.1405 | Est. |
| CMF Nov 30, 2026 | Dec 14, 2026 | $0.1405 | Est. |
| CMF Dec 30, 2026 | Jan 13, 2027 | $0.1405 | Est. |
| FCAL Nov 20, 2026 | Nov 28, 2026 | $0.1416 | Est. |
| FCAL Dec 20, 2026 | Dec 28, 2026 | $0.1416 | Est. |
| FCAL Jan 19, 2027 | Jan 27, 2027 | $0.1416 | Est. |
Annual payouts per share
CMFFCAL
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, CMF or FCAL?
FCAL currently has the higher trailing yield: CMF yields 3.07% and FCAL yields 3.59%. Yield changes daily with price, so check the live figures above.
How often do CMF and FCAL pay?
CMF pays every month and FCAL pays every month. CMF's next ex-date is Oct 31, 2026 and FCAL's is Nov 20, 2026.
Is CMF or FCAL better for income?
It depends on what you are optimising for. CMF and FCAL differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.