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United States
By Asset ClassBy Index Provider
The iShares S&P California AMT-Free Municipal Bond Fund seeks results that correspond generally to the price and yield performance, before fees and expenses, of the California municipal bond sector of the U.S. municipal bond market as defined by the S&P California AMT-Free Municipal Bond Index.
Top Daily Holdings as of 11/5/2009*
Holding
% of Fund
Coupon Maturity Moody's/S&P Rating
CA ST DEPT WTR RES PWR 3.14% 5.38 5/1/2017 Aaa /A+
SAN DIEGO CALIF UNI SCH DIST 3.12% 4.50 7/1/2029 Aa2 /AAA
UNIVERSITY CALIF REVS 2.55% 4.50 5/15/2035 Aa1 /AAA
BAY AREA INFRASTRUCTURE FING AUTH 2.30% 5.00 8/1/2017 Baa2 /A
LOS ANGELES CALIF UNI SCH DIST 2.01% 4.50 1/1/2028 Aa3 /AA-
BAKERSFIELD CALIF WASTEWTR REV 1.98% 5.00 9/15/2032 Aa3 /NR
LOS ANGELES CALIF CMNTY COLLEGE DI 1.90% 5.00 8/1/2032 Aa2 /AA
DESERT CALIF CMNTY COLLEGE DIST 1.74% 5.00 8/1/2037 Aa3 /AAA
EAST BAY CALIF MUN UTIL DIST WTR S 1.68% 5.00 6/1/2035 Baa1 /AAA
CALIFORNIA ST PUB WKS BRD LEAS 1.62% 5.00 12/1/2019 Baa2 /NR
Total22.04% 
*Holdings are subject to change.
Sector Breakdown as of 11/5/2009

Utility
23.10%

Education
19.08%

Various Purpose
12.93%

School District
12.46%

Tax-Revenue
8.94%

Building
6.54%

Transportation
6.42%

Municipal Utilities District
2.83%

Certificates Of Participation
2.67%

Improvement
1.16%

Other/Undefined
3.89%
Total100.00%
Maturity as of 11/5/2009
0-1 Years1.65%
1-5 Years6.99%
5-10 Years15.61%
10-15 Years17.60%
15-20 Years12.20%
20-25 Years19.56%
25 Years and Over24.54%
Average9.90 years
Average Annualized Total Returns (NAV)
quarterly, as of 9/30/2009
1 Year
3 Years
5 Years
10 Years
Since Inception
CMF 15.22% -- -- -- 6.12%
Index Index 14.30% -- -- -- 5.33%
Yield as of 11/5/2009
30-Day SEC Yield 30-Day SEC Yield3.57%
Average Yield to MaturityAverage Yield to Maturity3.91%
Distribution Yield Distribution Yield3.79%
Tax Equivalent Yield as of 11/5/2009
Tax Equivalent Distribution Yield Tax Equivalent Distribution Yield6.42%
Tax Equivalent 30-Day SEC Yield Equivalent 30-Day SEC Yield6.06%
Fundamentals as of 11/5/2009
Weighted Average Maturity Weighted Average Maturity 9.90 yr
Weighted Average Coupon Weghted Average Coupon4.98%
Effective Duration Effective Duration7.80
Standard Deviation (3 year) Standard Deviation
as of 9/30/2009
--
Profile as of 11/5/2009
Total Net Assets$177,538,658
Expense Ratio0.25%
Shares Outstanding1,700,000
Total Holdings141
Fund Credit Rating - S&PA
Inception Date10/4/2007
Related IndexSPMUNICAT
Net Asset Value
as of 11/6/2009
$104.43
  • $-0.03
  • -0.03%
Price
as of 11/6/2009
$105.77
  • $0.15
  • 0.14%
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. This information must be accompanied by standardized returns. For standardized returns and performance data current to the most recent month end, click the "Performance" tab above.
Fees & Expenses
Management Fees 0.25%
+
Acquired Fees & Expenses ‡ 0.00%
=
Total Annual Fund Operating Expenses 0.25%
Trading Information
TickerCMF
Related IndexSPMUNICAT
NAVCMF.NV
Underlying Trading ValueCMF.IV
Shares OutstandingCMF.SO
Estimated CashCMF.EU
Total CashCMF.TC
CUSIP464288356
Quality Ratings as of 11/5/2009
Rating
Moody's S&P
U.S. Gov't/Agency 0.00% 0.00%
Aaa/AAA 8.07% 24.76%
Aa1/AA+ 5.10% 3.06%
Aa2/AA 14.69% 15.07%
Aa3/AA- 33.50% 15.42%
A1/A+ 3.12% 17.67%
A2/A 3.15% 13.17%
A3/A- 2.44% 4.84%
Baa1/BBB+ 19.08% 0.00%
Baa2/BBB 7.14% 0.00%
Baa3/BBB- 0.00% 0.00%
Ba1/BB+ 0.00% 0.00%
Ba2/BB 0.00% 0.00%
Ba3/BB- 0.00% 0.00%
B1/B+ 0.00% 0.00%
B2/B 0.00% 0.00%
B3/B- 0.00% 0.00%
Caa1/CCC+ 0.00% 0.00%
Caa2/CCC 0.00% 0.00%
Caa3/CCC- 0.00% 0.00%
Ca/CC 0.00% 0.00%
C/C 0.00% 0.00%
CI -- 0.00%
R -- 0.00%
SD -- 0.00%
D -- 0.00%
Other/NR 3.71% 6.00%
Average A1 AA-

 
Carefully consider the Funds' investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Funds' prospectuses, which may be obtained by calling 1-800-iShares (1-800-474-2737) or click here to view or download a prospectus. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

‡ “Acquired Fund Fees and Expenses” reflect the Fund's pro rata share of the indirect fees and expenses incurred by investing in one or more acquired funds, such as mutual funds, business development companies, or other pooled investment vehicles. Acquired Fund Fees and Expenses are reflected in the prices of the acquired funds and thus included in the total returns of the Fund.

The iShares Funds ("Funds") are distributed by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA) serves as the investment advisor to the Funds. BGFA is a subsidiary of Barclays Global Investors, N.A., a majority-owned subsidiary of Barclays Bank PLC, none of which is affiliated with SEI.

Bonds and bond funds will decrease in value as interest rates rise.

Index returns are for illustrative purposes only and do not represent actual iShares performance. Index performance returns do not reflect any management fees, transaction costs or expenses. Indexes are unmanaged and one cannot invest directly in an index. Past performance does not guarantee future results.

A portion of the Fund's income may be subject to federal or state income taxes or the alternative minimum tax. Capital gains, if any, are subject to capital gains tax. Federal or state changes in income or alternative minimum tax rates or in the tax treatment of municipal bonds may make them less attractive as investments and cause them to lose value.

S&P and Standard & Poor's are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Barclays Global Investors, N.A. iShares Funds are not sponsored, endorsed, issued, sold or promoted by Standard & Poor's. Nor does this company make any representation regarding the advisability of investing in iShares Funds. Index data source: Standard & Poors.

Shares of iShares Funds are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

Certain sectors and markets perform exceptionally well based on current market conditions and iShares funds can benefit from that performance. Achieving such exceptional returns involves the risk of volatility and investors should not expect that such results will be repeated.

©2009 Barclays Global Investors, N.A. All rights reserved. iShares® is a registered trademark of Barclays Global Investors, N.A. All other trademarks, service marks or registered trademarks are the property of their respective owners.