CMF vs SPY: Holdings Overlap
CMFiShares California Muni Bond ETF
iShares · 1607 holdings · $4.6B · as of 2026-05-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 67 days apart (CMF: 2026-05-31, SPY: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are CMF and SPY?
iShares California Muni Bond ETF (CMF, by iShares) holds 1607 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 0 holdings in common, and by portfolio weight the two funds are 0.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 0CMF holds 1607 · SPY holds 504
- Weight in Shared Holdings
- CMF 0%·SPY 0%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in CMF
1607 of 1607 positions (96.0% of the fund) are not held by SPY. Showing the top 30 by weight.
- Los Angeles Unified School District, Series 2024A0.50%
- University of California, Series 2023BN0.49%
- California Educational Facilities Authority, Series U-60.44%
- Los Angeles Unified School District, Series 2024A0.44%
- California State University, Series 2024A0.42%
- University of California, Series 2025CD0.42%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| CMF | -0.9% | +0.6% | +5.2% | +3.2% | +0.5% | +1.6% | 2.97% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in CMF vs SPY →
Shared Holdings(0)
These two funds have no holdings in common.
Frequently Asked Questions
How much do CMF and SPY overlap?
CMF and SPY overlap by 0.0% of portfolio weight. They share 0 holdings (CMF holds 1607 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both CMF and SPY?
The two portfolios are 0.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What does CMF own that SPY doesn't?
1607 positions (96.0% of CMF) are unique to CMF, led by Los Angeles Unified School District, Series 2024A, University of California, Series 2023BN and California Educational Facilities Authority, Series U-6. In the other direction, 504 positions (99.9% of SPY) are unique to SPY.