CMF vs PWZ
iShares California Muni Bond ETF compared with Invesco California AMT-Free Municipal Bond ETF on yield, payout growth, payment schedule, cost and risk.
CMF
iShares California Muni Bond ETF
TTM yield · Monthly
PWZ
Invesco California AMT-Free Municipal Bond ETF
TTM yield · Monthly
Quick take
- PWZ yields more today: 4.02% vs 3.07% (forward).
- Both pay every month.
- Over the last year PWZ delivered the higher total return: -0.5% vs -0.8% (price change plus payouts).
- CMF is cheaper to own: 0.08% vs 0.28% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | CMF | PWZ |
|---|---|---|
| Share price | $54.91 | $22.87 |
| TTM yield | 3.07% | 4.02% |
| Forward yield | 3.07% | 4.02% |
| Annual payout per share | $1.686 | $0.919 |
| Payment frequency | Monthly | Monthly |
| Next ex-date | Oct 31, 2026 (est.) | Nov 16, 2026 (est.) |
| Expense ratio | 0.08% | 0.28% |
| 1-year payout growth | — | — |
| 5-year payout CAGR | — | — |
| Consecutive years of increases | — | — |
| Payout consistency (last 12) | 99/100 | 98/100 |
| 1-year total return | -0.8% | -0.5% |
| 1-year price return | -3.7% | -4.4% |
| Size (market cap / AUM) | 4.8B | 1.1B |
| Years paying | 19.0 | 18.9 |
| 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 | PWZ | |
|---|---|---|
| Shares | 182.1 | 437.3 |
| Income per year | $307 | $402 |
| Income per month (avg) | $26 | $33 |
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. |
| PWZ Nov 16, 2026 | Nov 30, 2026 | $0.0766 | Est. |
| PWZ Dec 14, 2026 | Dec 28, 2026 | $0.0766 | Est. |
| PWZ Jan 11, 2027 | Jan 25, 2027 | $0.0766 | Est. |
Annual payouts per share
CMFPWZ
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 PWZ?
PWZ currently has the higher trailing yield: CMF yields 3.07% and PWZ yields 4.02%. Yield changes daily with price, so check the live figures above.
How often do CMF and PWZ pay?
CMF pays every month and PWZ pays every month. CMF's next ex-date is Oct 31, 2026 and PWZ's is Nov 16, 2026.
Is CMF or PWZ better for income?
It depends on what you are optimising for. CMF and PWZ 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.