BlackRock Short-Term California Muni Bond ETF
Data updated: 2026-09-25
C000242862 — BlackRock Short-Term California Muni Bond ETF. Long Municipal - National Bond · $445.30M AUM. Holdings, fees, performance and SEC filings.
C000242862 Fund Overview
BlackRock Short-Term California Muni Bond ETF is a US ETF managed by BlackRock ETF Trust II, categorised as Long Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: BlackRock ETF Trust II
- Category: Long Municipal - National Bond
- Assets under management: $445.30M
- 1-year return: 3.2%
- SEC CIK: 0001804196
- SEC series ID: S000080457
- Share class ID: C000242862
C000242862 Investment Objective and Strategy
BlackRock Short-Term California Muni Bond ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BlackRock ETF Trust II.
Investment objective
The iShares Short-Term California Muni Active ETF (the Fund) seeks to maximize tax-free current income by investing in short-term municipal bonds issued in the State of California.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in municipal securities issued in the State of California (the State or California) by or on behalf of California state or local governments or agencies, whose interest payments are exempt from regular U.S. federal and California state income taxes. The Funds investments in derivatives will be counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Under normal circumstances, the Fund will primarily invest in U.S. dollar-denominated investment-grade short-term fixed- and floating-rate municipal securities issued by California with remaining maturities of five years or less, such as municipal bonds, municipal notes and variable rate demand obligations, as well as money market instruments and registered investment companies.
Investment-grade securities are rated BBB- or higher by S&P Global Ratings and/or Fitch Ratings, Inc. (Fitch), or Baa3 or higher by Moodys Investors Service, Inc. (Moodys), or, if unrated, determined by the Funds management team to be of equivalent quality. Municipal bonds include debt obligations issued by or on behalf of a governmental entity or other qualifying issuer that pay interest that is, in the opinion of bond counsel to the issuer at the time of issuance, generally excludable from gross income for U.S. federal and California state income tax purposes. The Fund may invest up to 20% of its net assets in securities that are not California municipal bonds (including, but not limited to, taxable municipal bonds, U.S. Treasury and Government agency issues, and investment grade corporate bonds).
Further, the Fund may invest up to 20% of its net assets in municipal securities that pay interest that is subject to the federal alternative minimum tax. Issuers of such securities may be states, territories and possessions of the U.S., including the District of Columbia, and their political subdivisions, agencies and instrumentalities. BFA or its affiliates may advise the money market funds and investment companies in which the Fund may invest. Under normal circumstances, the effective duration of the Funds portfolio is expected to be 1.5 years or less, as calculated by the Funds management team. Effective duration is a measure of the Funds price sensitivity to changes in yields or interest rates; however, investors should be aware that effective duration is not an exact measurement and may not reliably predict a particular securitys price sensitivity to changes in yield or interest rates.
Under normal circumstances, the Fund will also seek to maintain a weighted average maturity that is less than three years. Weighted average maturity is a U.S. dollar-weighted average of the remaining term to maturity of the underlying securities in the Funds portfolio. Maturity of a debt security refers to the date upon which debt securities are due to be repaid, that is, the date when the issuer generally must pay back the face amount of the security. The Fund is an actively managed exchange-traded fund (ETF) that does not seek to track the performance of a specified index. The Fund may have a higher degree of portfolio turnover than funds that seek to track the performance of an index. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended (the 1940 Act).
C000242862 Holdings
Top 10 holdings of BlackRock Short-Term California Muni Bond ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| City of Modesto CA Water Revenue | 2.57% |
| Municipal Water District Of Orange County Water Facilities Corp | 2.50% |
| State of California | 2.23% |
| California Housing Finance Agency | 1.83% |
| University of California | 1.68% |
| California Health Facilities Financing Authority | 1.64% |
| Bay Area Toll Authority | 1.57% |
| Northern California Energy Authority | 1.57% |
| California Community Choice Financing Authority | 1.53% |
| San Diego Calif Lease | 1.46% |
C000242862 Portfolio Allocation
Asset-class allocation of BlackRock Short-Term California Muni Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 91.3% |
| Cash & Equivalents | 9.1% |
C000242862 Performance
Total returns for C000242862 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.6% |
| 1 year | 3.2% |
| 3 years (annualised) | 3.1% |
C000242862 Risk Information
Risk metrics for C000242862, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 0.8%
C000242862 Costs and Fees
C000242862 costs about $20 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.20%
- Gross expense ratio: 0.25%
- Portfolio turnover: 113%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000242862 Cashflows
Over the 12 months to 2026-04, BlackRock Short-Term California Muni Bond ETF had net inflows of $211.85M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $17.64M |
| 2026-03 | $2.56M |
| 2026-02 | $15.19M |
| 2026-01 | $45.45M |
| 2025-12 | $22.69M |
| 2025-11 | $17.67M |
C000242862 Debt Constituents
Largest debt holdings of BlackRock Short-Term California Muni Bond ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| City of Modesto CA Water Revenue | 2.57% |
| Municipal Water District Of Orange County Water Facilities Corp | 2.50% |
| State of California | 2.23% |
| California Housing Finance Agency | 1.83% |
| University of California | 1.68% |
| California Health Facilities Financing Authority | 1.64% |
| Bay Area Toll Authority | 1.57% |
| Northern California Energy Authority | 1.57% |
| California Community Choice Financing Authority | 1.53% |
| San Diego Calif Lease | 1.46% |
C000242862 Prospectus and SEC Filings
Official BlackRock Short-Term California Muni Bond ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-11-25
- Prospectus (485BPOS) — filed 2024-11-26
- Prospectus supplement (497) — filed 2024-10-10
- Portfolio holdings (N-PORT) — filed 2026-09-25
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-03-26
- Annual census (N-CEN) — filed 2025-10-14
- Annual census (N-CEN) — filed 2024-10-15
Related Funds
Other Long Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.