The iShares California AMT-Free Muni Bond ETF (NYSEArca: CMF) has an effective duration of 6.94 years and offers a 4.53% 30-day SEC yield, or a 6.99% 30-day SEC yield for those in the highest income bracket. CMF comes with a 0.25% expense ratio.
The SPDR Nuveen Barclays California Municipal Bond ETF (NYSEArca: CXA) has an adjusted duration of 8.8 years and a 2.35% 30-day SEC yield, or a 4.78% 30-day SEC yield for those in the highest income bracket. CXA comes with a 0.20% expense ratio.
The PowerShares Insured California Municipal Bond Portfolio (NYSEArca: PWZ) has an effective duration of 8.38 years and a 3.71% 30-day SEC yield. PWZ comes with a 0.28% expense ratio.
Additionally, broad muni bond ETFs, like the iShares National AMT-Free Muni Bond ETF (NYSEArca: MUB), also have a hefty allocation toward California. California makes up 22.9% of MUB. [iShares to Roll Out New Muni Bond ETF Thursday]
For more information on the munis market, visit our municipal bonds category.
Max Chen contributed to this article.