Fixed Income

CALI

iShares Short-Term California Muni Active ETF

  • NAV as of Apr 23, 2025 $50.03
    52 WK: 49.89 - 50.47
  • 1 Day NAV Change as of Apr 23, 2025 0.01 (0.03%)
  • NAV Total Return as of Apr 22, 2025 YTD: 0.40%
  • Fees as stated in the prospectus Expense Ratio: 0.25%
    Net Expense Ratio: 0.20%

Overview

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Performance

Performance

Growth of Hypothetical $10,000

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Chart
Line chart with 449 data points.
The chart has 1 X axis displaying Time. Range: 2023-07-11 00:00:00 to 2025-04-23 00:00:00.
The chart has 1 Y axis displaying values. Range: -5 to 10.
YTD6M1Y3Y5Y10YAll
End of interactive chart.
The Hypothetical Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted.

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, and numbers may reflect small variances due to rounding. Standardized performance and performance data current to the most recent month end may be found in the Performance section.

Distributions

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Premium/Discount

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  1y 3y 5y 10y Incept.
Total Return (%) 3.31 - - - 3.26
Market Price (%) 3.27 - - - 3.33
Benchmark (%) 3.35 - - - 3.17
After Tax Pre-Liq. (%) 3.31 - - - 3.26
After Tax Post-Liq. (%) 3.21 - - - 3.18
  YTD 1m 3m 6m 1y 3y 5y 10y Incept.
Total Return (%) 0.74 0.04 0.74 1.14 3.31 - - - 5.70
Market Price (%) 0.82 -0.01 0.82 1.19 3.27 - - - 5.81
Benchmark (%) 0.87 0.14 0.87 1.15 3.35 - - - 5.52
After Tax Pre-Liq. (%) 0.74 0.04 0.74 1.14 3.31 - - - 5.70
After Tax Post-Liq. (%) 0.61 0.11 0.61 1.27 3.21 - - - 5.55
  2020 2021 2022 2023 2024
Total Return (%) - - - - 2.89
Market Price (%) - - - - 2.84
Benchmark (%) - - - - 2.74
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. Performance shown reflects fee waivers and/or expense reimbursements by the investment advisor to the fund for some or all of the periods shown. Performance would have been lower without such waivers.

Key Facts

Key Facts

Net Assets of Fund
as of Apr 23, 2025
$80,042,213
Exchange
NASDAQ
Benchmark Index
Bloomberg CA IG Only 0-2yr Index
Distribution Frequency
Monthly
CUSIP
092528884
30 Day Avg. Volume
as of Apr 22, 2025
31,646.00
Daily Volume
as of Apr 22, 2025
29,197.00
Fund Launch Date
Jul 11, 2023
Asset Class
Fixed Income
Shares Outstanding
as of Apr 23, 2025
1,600,000
Premium/Discount
as of Apr 22, 2025
0.16%
Closing Price
as of Apr 22, 2025
50.10
30 Day Median Bid/Ask Spread
as of Apr 22, 2025
0.08%

Portfolio Characteristics

Portfolio Characteristics

Number of Holdings
as of Apr 22, 2025
73
30 Day SEC Yield
as of Apr 22, 2025
3.19%
Standard Deviation (3y)
as of -
-
Average Yield to Maturity
as of Apr 22, 2025
3.58%
Weighted Avg Coupon
as of Apr 22, 2025
4.19
Effective Duration
as of Apr 22, 2025
1.02 yrs
Option Adjusted Spread
as of Apr 22, 2025
27.71 bps
Equity Beta (3y)
as of -
-
12m Trailing Yield
as of Apr 22, 2025
3.00%
Unsubsidized 30-Day SEC Yield
as of Apr 22, 2025
3.14%
Tax Equiv. SEC Yield
as of Apr 22, 2025
6.94%
Weighted Avg Maturity
as of Apr 22, 2025
1.10 yrs
Convexity
as of Apr 22, 2025
-0.01
This information must be preceded or accompanied by a current prospectus. For standardized performance, please see the Performance section above.

Fees

Fees

as of current prospectus
Management Fee 0.25%
Acquired Fund Fees and Expenses 0.00%
Other Expenses 0.00%
Expense Ratio 0.25%
Fee Waivers 0.05%
Net Expense Ratio 0.20%

The amounts shown above are as of the current prospectus, but may not include extraordinary expenses incurred by the Fund over the past fiscal year. Amounts are rounded to the nearest basis point, which in some cases may be "0.00".

Ratings

Morningstar Medalist Rating

Morningstar Medalist Rating - BRONZE
Morningstar has awarded the Fund a Bronze medal. (Effective Feb 28, 2025)
Analyst-Driven % as of Feb 28, 2025
10.00
Data Coverage % as of Feb 28, 2025
87.00

Holdings

Holdings

as of Apr 22, 2025
Issuer Weight (%)
LOS ANGELES DEPARTMENT OF AIRPORTS LOS ANGELES INTERNATIONAL AIR 6.83
CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY 6.36
CALIFORNIA (STATE OF) 4.96
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 2.83
CALIFORNIA STATE PUBLIC WORKS BOARD 2.25
Issuer Weight (%)
CALIFORNIA HEALTH FACS FING AUTH 2.14
CALIFORNIA STATEWIDE CMNTYS DEV AUTH 2.04
AIRPORT COMMISSION OF THE CITY AND COUNTY OF SAN FRANCISCO 1.76
SAN JOAQUIN VALLEY CLEAN ENERGY AUTH CALIF 1.12
POWAY CALIF UNI SCH DIST PUB FING AUTH 1.07
Detailed Holdings and Analytics
Holdings are subject to change.


The values shown for “market value,” “weight,” and “notional value” (the “calculated values”) are based off of a price provided by a third-party pricing vendor for the portfolio holding and do not reflect the impact of systematic fair valuation (“the vendor price”). The vendor price is not necessarily the price at which the Fund values the portfolio holding for the purposes of determining its net asset value (the “valuation price”). Holdings data shown reflects the investment book of record, which may differ from the accounting book of record used for the purposes of determining the Net Assets of the Fund. Additionally, where applicable, foreign currency exchange rates with respect to the portfolio holdings denominated in non-U.S. currencies for the valuation price will be generally determined as of the close of business on the New York Stock Exchange, whereas for the vendor price will be generally determined as of 4 p.m. London. The calculated values may have been different if the valuation price were to have been used to calculate such values. The vendor price is as of the most recent date for which a price is available and may not necessarily be as of the date shown above.

Please see the “Determination of Net Asset Value” section of each Fund’s prospectus for additional information on the Fund’s valuation policies and procedures.

Exposure Breakdowns

Exposure Breakdowns

as of Apr 22, 2025

% of Market Value

Geographic exposure relates principally to the domicile of the issuers of the securities held in the product, added together and then expressed as a percentage of the product's total holdings, excluding currency holdings. Percentages do not reflect fair valuation. In some instances, percentages may reflect the location where the issuer of the securities carries out much of their business. Bonds are included in U.S. bond indices when the securities are denominated in U.S. dollars regardless of the domicile of the issuer.
as of Apr 22, 2025

% of Market Value

as of Apr 22, 2025

% of Market Value

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Maturity is provided in days. Maturity exposure is calculated by aggregating the percent par of holdings of individual securities in the portfolio by the legal final maturity date, or for securities that have a demand feature, the date in which the demand feature is exercised and proceeds received. The values reported include cash, accrued income, and/or payables/receivables which may result in negative weightings may result from specific circumstances (including timing differences between trade and settle dates of securities purchased by the funds).
as of Apr 22, 2025

% of Market Value

Credit quality ratings on underlying securities of the fund are received from S&P, Moody’s and Fitch and converted to the equivalent S&P major rating category. This breakdown is provided by BlackRock and takes the median rating of the three agencies when all three agencies rate a security, the lower of the two ratings if only two agencies rate a security, and one rating if that is all that is provided. Unrated securities do not necessarily indicate low quality. Below investment-grade is represented by a rating of BB and below. Ratings and portfolio credit quality may change over time.
Allocations are subject to change.

Portfolio Managers

Portfolio Managers

Kristi Manidis
Kristi Manidis
Director, Portfolio Manager, Municipal Mutual Funds

  

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Kristi Manidis, Director, is a Portfolio Manager for the Municipal Fixed Income business in BlackRock's Portfolio Management Group.

 

Prior to moving to her current role in 2009, Ms. Manidis was a trader and portfolio manager on various high net worth equity and balanced separately managed accounts. Previously, she was responsible for institutional client service and marketing for BlackRock's Cash Management Group. Ms. Manidis began her career at BlackRock in 2003.

 

Ms. Manidis earned a BS degree in Business Administration, with concentrations in Finance and Management Information Systems, from Drexel University in 2003.

Christian Romaglino, CFA
Christian Romaglino, CFA
Director, Portfolio Manager, Municipal Mutual Funds

   

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Christian Romaglino, CFA, Director, is a Portfolio Manager for the Municipal Fixed Income business within BlackRock's Portfolio Management Group.
Prior to joining BlackRock in 2017, Mr. Romaglino was a Portfolio Manager at Brown Brothers Harriman focusing on a diverse set of institutional mandates and high net worth SMAs. Mr. Romaglino also held various trading and portfolio construction positions at Brown Brothers Harriman across several taxable fixed income sectors prior to 2010 when he transitioned to Municipals.
Mr. Romaglino earned a BS degree in Industrial Engineering from Lehigh University.

Alicia De Lorenzo
Alicia De Lorenzo
Vice President, Portfolio Manager, Municipal Mutual Funds

  

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Alicia De Lorenzo, Vice President, is a portfolio manager within the Municipal Fixed Income business in BlackRock's Portfolio Management Group.

 

Prior to her current role, Ms. De Lorenzo was a member of the Municipal Strategy team within BlackRock's Portfolio Management Group. Her responsibilities included monitoring and analyzing market activity to develop data and strategy that contributed to the multiple businesses within the municipal department.

 

Previously, Ms. De Lorenzo was a portfolio specialist for BlackRock’s Separately Managed Accounts business within Multi-Asset Strategies (MAS). In this role she partnered with Financial Advisors and Financial Professionals to provide customized portfolios and wealth management solutions for high net worth and institutional clients.

 

Ms. De Lorenzo's service with the firm dates back to 2007 when she was a member of the Aladdin Portfolio Services Group within Business Operations. Her responsibilities included producing monthly net asset value and performance measurement for BlackRock's institutional separate accounts.

 

Ms. De Lorenzo earned a BS degree in Finance from Rider University.

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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 or, if available, the summary prospectuses, which may be obtained by visiting the iShares ETF and BlackRock Fund prospectus pages. Read the prospectus carefully before investing. Investing involves risk, including possible loss of principal.

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Before engaging Fidelity or any broker-dealer, you should evaluate the overall fees and charges of the firm as well as the services provided. Free commission offer applies to online purchases of select iShares ETFs in a Fidelity account. The sale of ETFs is subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain Fidelity Brokerage Services platforms and investment programs. Please note, this security will not be marginable for 30 days from the settlement date, at which time it will automatically become eligible for margin collateral. Additional information about the sources, amounts, and terms of compensation can be found in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice.

The Funds are distributed by BlackRock Investments, LLC (together with its affiliates, “BlackRock”).

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