iShares Short-Term California Muni Active ETF (CALI)

iShares Short-Term California Muni Active ETF (CALI) is an exchange-traded fund in the Muni Single State Short category. It has $406.44M in assets, an expense ratio of 0.20% and a 2.52% dividend yield. 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. The fund is non-diversified.