iShares Short-Term California Muni Active ETF (CALI) Performance
CALI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.2% since Dec 31, 2025
- 1 year
- +1.6% total return
- 3 years
- +3.1% a year
- Since first price
- +2.8% a year since 2023
CALI trailing returns vs AGG, TLT, SPY
| Period | CALI total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.6% | +0.4% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.2% | −0.4% | −0.4% | −1.0% | +3.2% |
| 6 months | +0.5% | −0.7% | −1.5% | −3.8% | +7.8% |
| YTD | +1.2% | −0.6% | −1.0% | −3.4% | +12.3% |
| 1 year | +1.6% | −0.9% | −1.1% | −6.9% | +14.4% |
| 3 years | +9.5%+3.1%/yr | +0.8% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionJul 13, 2023 | +9.6%+2.8%/yr | +0.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CALI vs AGG
From Jul 13, 2023: CALI grew to $10,956, AGG to $11,031.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CALI returns by calendar year
2 of 2 full years positive. Best 2025 (+3.3%), worst 2024 (+2.8%). 2026 is year to date.
CALI annual returns table
| Year | CALI | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +1.2% | −1.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +3.3% | −0.8% | +7.2% | +4.3% | +17.7% |
| 2024 | +2.8% | −0.3% | +1.3% | −8.1% | +24.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CALI risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +2.8% | +2.6% |
| Volatility (annualized) | 1.2% | 1.2% |
| Sharpe ratio | -1.34 | -1.51 |
| Sortino ratio | -1.40 | -1.52 |
| Best month | +1.3% | +1.3% |
| Worst month | −1.0% | −1.0% |
| Best 12 months | +4.6% | +4.6% |
| Worst 12 months | +0.8% | +0.8% |
| Positive months | 83% | 82% |
| Beta vs S&P 500 | 0.06 | — |
| Correlation with S&P 500 | 0.59 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CALI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 28 | +0.8% | +3.2% | +4.6% | 100% |
| 3-year (a year) | 4 | +2.8% | +3.0% | +3.1% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
CALI performance overview
iShares Short-Term California Muni Active ETF (CALI) returned +1.6% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +2.8% a year, turning $10,000 into about $10,956. Over the same year U.S. bonds (AGG) returned −1.1%.
Related: CALI chart, CALI dividends, CALI bond profile. See the CALI overview for the latest quote and fund facts.
CALI performance FAQ
What is the CALI return over the past year?
CALI returned +1.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 0.9%.
How much would $10,000 invested in CALI be worth?
$10,000 invested in CALI at its first recorded close on July 13, 2023 would be worth about $10,956 on October 23, 2026 with distributions reinvested.
What was the worst year for CALI?
The worst calendar year was 2024, with a total return of +2.8%. The best was 2025 at +3.3%.
How volatile is CALI?
Over the past 3 years CALI had an annualized volatility of 1.2% and a Sharpe ratio of -1.34 (excess return over 1–3 month T-bills per unit of risk).