MUB vs SUB
iShares National Muni Bond ETF vs iShares Short-Term National Muni Bond ETF
Which is better, MUB or SUB?
Each has led over a different period.
MUB has a lower expense ratio. MUB led over 3Y and the full window, SUB over 1Y and 5Y.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MUB | SUB |
|---|---|---|
| Expense Ratio | 0.05%Best | 0.07% |
| AUM | $49.8B | $12.5B |
| Dividend Yield | 3.40% | 2.61% |
| Holdings | 6,825 | 2,984 |
| YTD Return | -2.89% | +0.29%Best |
| 1Y Return | -1.85% | +0.90%Best |
| 3Y Return (annualized) | +2.96%Best | +2.93% |
| 5Y Return (annualized) | +0.13% | +1.37%Best |
| Volatility (annualized) | 5.3% | 1.8%Best |
| Max Drawdown | -13.7% | -11.7%Best |
| $10,000 over 5 years | $10,065 | $10,704Best |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Sep 7, 2007 | Nov 5, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 7, 2008 to Oct 14, 2026 (17.9 years).
MUB vs SUB growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 17.9 years both funds cover.
MUB vs SUB Performance
iShares National Muni Bond ETF (MUB) is an ETF from iShares by BlackRock (US) and iShares Short-Term National Muni Bond ETF (SUB) is an ETF from iShares by BlackRock (US). Over the past year MUB returned -1.85% while SUB returned +0.90%. Year to date, MUB is down 2.89% versus a gain of 0.29% for SUB.
Over three years, MUB compounded at +2.96% per year against +2.93% for SUB; over five years the annualized figures are +0.13% and +1.37% respectively. Across the full 18-year window we track, MUB has the edge at +1.15% annualized vs +0.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MUB has been the more volatile fund, with annualized monthly volatility of 5.3% compared with 1.8% for SUB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.7% for MUB and -11.7% for SUB. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MUB charges 0.05% per year while SUB charges 0.07%. On a $10,000 position that is $5 vs $7 annually, a gap of $2 per year that compounds over a long holding period. On income, MUB currently yields 3.40% against 2.61% for SUB.
Holdings Overlap
We hold position weights for 2,249 holdings in MUB and 995 in SUB, totalling 28.4% and 27.9% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 567 positions appear in both.
567 positions in common, counted across the 2,249 positions we hold weights for in MUB and 995 in SUB, against full books of 6,825 and 2,984.
Top Shared Holdings
| Stock | Weight in MUB | Weight in SUB | Difference |
|---|---|---|---|
| MCSXXBlackrock Liquidity Funds Municash Portfolio, Institutional Shares | 3.21% | 0.42% | 2.79% |
| NJ NJSDEV 5 03/01/20New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2023Rrr 5 03/01/2028 | 0.06% | 0.34% | 0.28% |
| WA KINUTL 01/01/2042King Cnty Wash Swr Rev 2.4% Jan 01, 2042 | 0.11% | 0.19% | 0.08% |
| IL ILS 5 11/01/2027Illinois St Regd N/c B/e 5.00000000 | 0.11% | 0.16% | 0.05% |
| CO COSHGR 03/01/2055Colorado St Brd Governors Univ 2.3% Mar 01, 2055 | 0.08% | 0.17% | 0.09% |
| MA MAS 5.5 08/01/203Commonwealth Of Massachusetts 5.5 08/01/2030 | 0.04% | 0.20% | 0.16% |
| NJ NJS 4 06/01/2030New Jersey St 4% Jun 01, 2030 | 0.05% | 0.19% | 0.14% |
| CA CAS 5 04/01/2029California St 5 2029-04-01 | 0.01% | 0.22% | 0.21% |
| NJ NJSEDU 07/01/2064New Jersey Educational Facilities Authority 5 07/01/2064 | 0.02% | 0.20% | 0.18% |
| TX TXS 5 10/01/2030State of Texas 5.0% 10/01/2030 | 0.01% | 0.21% | 0.20% |
You are not choosing between two funds in isolation.
Whichever of MUB and SUB you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MUB or SUB?
MUB has an expense ratio of 0.05% while SUB charges 0.07%. MUB is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, MUB or SUB?
Over the past year MUB returned -1.85% vs +0.90% for SUB, so SUB leads on 1-year performance. Over the longest common window we track (18 years), MUB annualized +1.15% vs +0.77% for SUB. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MUB or SUB?
MUB has been the more volatile fund at 5.3% annualized versus 1.8% for SUB. Worst drawdown: MUB -13.7% vs SUB -11.7%.
Should I hold both MUB and SUB?
MUB and SUB have a monthly-return correlation of 0.62, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MUB or SUB?
MUB yields 3.40% while SUB yields 2.61%, so MUB currently pays the higher dividend yield.
Is SUB better than MUB?
MUB has a lower expense ratio. MUB led over 3Y and the full window, SUB over 1Y and 5Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.