# Portfolio overlap — VTEC vs CMF Comparing **VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF** (2026-02-28) and **iShares California Muni Bond ETF** (2026-02-28). - Shared positions: 1034 - VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF covered by iShares California Muni Bond ETF: 0.3028700388223762494062310050 - iShares California Muni Bond ETF covered by VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF: 0.3028700388223762494062310044 ## VANGUARD CALIFORNIA TAX-EXEMPT BOND ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | Southern California Public Power Authority, Series A | 0.005932 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.005505 | ✓ | | Bay Area Toll Authority, Series 2026A | 0.005146 | ✓ | | Irvine Ranch Water District, Series 2009 A, VRD RB | 0.003231 | | | LOS ANGELES UNIF SD-A | 0.003227 | ✓ | | LOS ANGELES UNIF SD-A | 0.003220 | ✓ | | Bay Area Toll Authority, Series 2023 A, VRD Ref. RB | 0.003088 | ✓ | | LOS ANGELES UNIF SD-A | 0.002989 | ✓ | | Los Angeles Department of Water & Power, Series 2025A | 0.002720 | ✓ | | STATE OF CALIFORNIA 4.0% 03-01-36 | 0.002497 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.00000000 | 0.002483 | ✓ | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.002421 | | | UNIV OF CALIFORNIA CA REVENUES REGD B/E 5.50000000 | 0.002383 | ✓ | | E CO AWP JT PWRS-A-1 | 0.002360 | ✓ | | STATE OF CALIFORNIA | 0.002358 | ✓ | | SAN FRANCISCO USD | 0.002302 | | | UNIV OF CALIFORNIA CA | 0.002238 | | | IRVINE CA IMPT BOND ACT 1915 | 0.002207 | | | State of California | 0.002121 | ✓ | | CALIFORNIA ST EDUCTNL | 0.001954 | ✓ | | BAY AREA TOLL AUTHORITY FRN 04-01-55 | 0.001950 | ✓ | | LOS ANGELES DEPT-C | 0.001930 | ✓ | | UNIV OF CALIFORNIA CA REVENUES | 0.001924 | | | LOS ANGELES UNIF SD-A | 0.001918 | ✓ | | State of California | 0.001913 | | | BAY AREA CA TOLL AUTH | 0.001888 | | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.001879 | ✓ | | IRVINE WTR-RF-A1-VAR | 0.001748 | ✓ | | BAY AREA TOLL AUTHORI VAR | 0.001706 | ✓ | | University of California, Series 2024 BW, Ref. RB | 0.001701 | ✓ | | Toll Road Sr Lien Refunding RB Series 2021A | 0.001691 | ✓ | | UNIV OF CALIFORNIA CA REVENUES | 0.001673 | ✓ | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2017 B, RB | 0.001672 | ✓ | | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C | 0.001662 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.001629 | ✓ | | State of California 5.00% 03/01/2055 | 0.001623 | ✓ | | Los Angeles (County of), CA Metropolitan Transportation Authority, Series 2024, GO Bonds | 0.001620 | | | STATE OF CALIFORNIA 5.0% 10-01-35 | 0.001618 | | | LOS ANGELES UNIF SD-A | 0.001609 | ✓ | | State of California | 0.001587 | | | STATE OF CALIFORNIA 5.0% 04-01-29 | 0.001586 | ✓ | | State of California, Series 2007 | 0.001569 | ✓ | | LOS ANGELES DEPT-B | 0.001530 | ✓ | | Los Angeles Unified School District, Series 2023QRR | 0.001520 | ✓ | | Santa Monica Community College District, Series 2018A | 0.001504 | ✓ | | State of California, Series 2025, GO Bonds | 0.001497 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.25000000 | 0.001486 | ✓ | | STATE OF CALIFORNIA | 0.001464 | | | UNIV OF CALIFORNIA CA REVENUES | 0.001462 | | | Sacramento Municipal Utility District, Series 2025F | 0.001427 | ✓ | ## iShares California Muni Bond ETF — top positions | Security | Weight | Shared | |----------|--------|--------| | UNIV OF CA REGENTS | 0.005320 | ✓ | | LOS ANGELES UNIF SD-A | 0.005256 | ✓ | | LOS ANGELES UNIF SD-A | 0.004969 | ✓ | | California (State of) Educational Facilities Authority (Stanford University), Series 2014 U-6, RB | 0.004836 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.004635 | ✓ | | CA ST UNIV TRUSTEES-A | 0.004541 | ✓ | | State of California 5.00% 03/01/2055 | 0.004152 | ✓ | | San Francisco City & County Airport Comm-San Francisco International Airport | 0.004085 | | | Orange County Water District, Series 2003A | 0.003965 | | | University of California, Series 2025BZ | 0.003626 | ✓ | | State of California | 0.003607 | ✓ | | E CO AWP JT PWRS-A-1 | 0.003489 | ✓ | | Bay Area Toll Authority, Series 2023 A, VRD Ref. RB | 0.003375 | ✓ | | STATE OF CALIFORNIA 4.0% 09-01-43 | 0.003228 | ✓ | | State of California, Series 2007 | 0.003182 | ✓ | | Toll Road Sr Lien Refunding RB Series 2021A | 0.003085 | ✓ | | SAN FRANCISCO PUB UTI | 0.002983 | ✓ | | UNIV OF CALIFORNIA CA | 0.002953 | ✓ | | Los Angeles Community College District, Series F | 0.002949 | ✓ | | San Diego Unified School District, Series 2023G-3 | 0.002848 | ✓ | | CA ST PUB WKS-C | 0.002839 | ✓ | | STATE OF CALIFORNIA 4.0% 03-01-36 | 0.002798 | ✓ | | SAN FRANCISCO PUB-A | 0.002758 | ✓ | | UNIV OF CA REGENTS-BQ | 0.002697 | ✓ | | Beverly Hills Unified School District, Series 2009 | 0.002688 | | | Anaheim Housing & Public Improvements Authority, Series 2024-A | 0.002638 | | | STATE OF CALIFORNIA | 0.002629 | ✓ | | Los Angeles Unified School District, Series 2023QRR | 0.002622 | ✓ | | Los Angeles Community College District, Series D | 0.002620 | ✓ | | University of California, Series 2026 CF | 0.002590 | | | STATE OF CALIFORNIA 4.0% 09-01-29 | 0.002566 | ✓ | | LOS ANGELES DEPT -D | 0.002504 | ✓ | | State of California, Series 2024 | 0.002478 | ✓ | | Coast Community College District, Series 2017D | 0.002468 | ✓ | | OAKLAND USD-REF | 0.002462 | ✓ | | Mt. San Antonio Community College District, Series 2024D | 0.002456 | ✓ | | UNIV OF CALIFORNIA-BV | 0.002431 | ✓ | | UNIV OF CALIFORNIA CA REVENUES REGD N/C B/E 5.00000000 | 0.002429 | ✓ | | State of California | 0.002415 | ✓ | | STHRN CALIFORNIA ST | 0.002403 | | | SAN FRANCISCO PUB-A | 0.002401 | ✓ | | San Joaquin Hills Transportation Corridor Agency, Series 2021 A, Ref. RB | 0.002385 | ✓ | | University of California, Series 2026 CE | 0.002357 | ✓ | | State of California | 0.002357 | ✓ | | San Mateo Foster City School District, Series B | 0.002356 | ✓ | | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE | 0.002248 | | | State of California | 0.002240 | ✓ | | El Camino Community College District Fountation (The), Series 2012C | 0.002231 | ✓ | | Palo Alto Unified School District, Series 2025 | 0.002212 | ✓ | | Los Angeles (City of), CA, Series 2025, RN | 0.002203 | ✓ | ## Sources - N-PORT (fund A) — accession `0000783401-26-000072` (as of 2026-02-28) - N-PORT (fund B) — accession `0002071691-26-008204` (as of 2026-02-28) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _