Key stats
About iShares Short-Term California Muni Active ETF
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Inception date
Jul 11, 2023
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Ordinary income
Primary advisor
BlackRock Fund Advisors
Distributor
BlackRock Investments LLC
CALI actively invests in a portfolio of fixed and floating-rate municipal securities, including Muni bonds, municipal notes, and variable rate demand obligations, all issued in the State of California. It seeks tax-exempt income while aiming to reduce tax obligations and manage interest rate risk. To achieve this, the fund holds short-term, USD-denominated securities with investment grade rating, and remaining maturities of 5 years or less. On the other hand, it expects an effective portfolio duration of no more than 1.5 years and targets a weighted average maturity of less than three years. The fund is actively managed, which means investment decisions are at the discretion of the manager and it may also have a higher degree of portfolio turnover than an index-tracking fund. Prior to October 10, 2024, the fund used Blackrock for branding purposes instead of iShares and had a ticker of CALY.
Classification
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal99.37%
Cash0.49%
Mutual fund0.14%
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