The takeaway
iShares Short-Term California Muni Active ETF shows a slight seasonal lean over 3 years of data — strongest in November (+0.6%) and softest in April (0.0%).
Right now
In July, the fund has risen 100% of years, averaging +0.3%, roughly 1.8 pts behind the S&P 500.
The full picture
iShares Short-Term California Muni Active ETF's most dependable month has been November, higher in 3 of 3 years; April has been its least reliable, up just 50% of the time.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Win rate % | ||||||||||||
| Median return % | ||||||||||||
| 2025 | ||||||||||||
| 2024 | ||||||||||||
| 2023 | — | — | — | — | — | — |
Month by month
Across the year the fund has stayed close to the S&P 500 — no single month stands out as a real edge.
“vs S&P” is iShares Short-Term California Muni Active ETF’s average for a month minus the S&P 500’s average for that same month — isolating iShares Short-Term California Muni Active ETF’s own seasonal edge from broad market drift.
Reality check
Over the last 3 years, November has closed higher 100% of the time versus 100% across the last 3 years — the pattern is holding.
Figures are the typical (median) November return and how often it rose — the last 3 years versus the last 3(the heatmap’s default window). This verdict stays anchored to that 3-year window even if you zoom the chart, so it never disagrees with the badges above.
In plain English
Dependability is the through-line here. November stands out, higher in all 3 Novembers, but it heads a clutch of months that pull the year reliably upward.
Its average (+0.6%) and median (+0.4%) land within a hair of each other — the tell of steady, year-after-year gains rather than one outlier doing the work. That consistency sets it apart from the field, where the average stock manages November only about 62% of the time.
The strength clusters rather than stands alone — May–January forms a firm stretch that carries much of the year. On the other side of the ledger, April is the year's quietest corner, essentially flat on average, and the edge isn't year-round — the fund has trailed the S&P 500 in July, November, and April.
The takeaway is less about when to buy than what to expect: November aside, the fund's months offer little reliable tilt. With a short 3-year record, the signal is best held loosely.
Short answers on the fund's best month (November), its worst (April), and whether it really trades seasonally.
Only mildly. The fund's months are fairly even — November is the firmest (+0.6%) and April the softest (0.0%), a narrow spread that points to weak seasonality rather than a strong calendar effect.
November has been the strongest, averaging +0.6% and closing higher in all 3 years on record since 2023.
It's the weakest, averaging 0.0% — historically a soft spot, though it still varies from year to year.
Explore
These names have the strongest July track records on record — a starting point for comparison.
Before you trade