iShares Short-Term National Muni Bond ETF (SUB) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SUB. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SUB
SUB charges 0.07% annually. There are 6 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | SUB vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | SUB vs SCMB | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | SUB vs TAXT | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 169.01M | Aug 2025 | SUB vs TAXI | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | SUB vs FMUN |
Best Risk-Adjusted Alternatives to SUB
SUB has a PortfoliosLab risk / return rank of 74. There are 57 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | SUB vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | SUB vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | SUB vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.47M | Nov 2018 | SUB vs FUMB | |
| Goldman Sachs Ultra Short Municipal Income ETF | 97 | 54.13M | Jul 2024 | SUB vs GUMI |
Top Performing SUB Alternatives (YTD)
SUB is at 0.76% YTD. There are 70 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 3.71% | 4.54M | May 2023 | SUB vs ZTAX | |
| NYLI MacKay Muni Allocation ETF | 2.42% | 28.01M | Dec 2025 | SUB vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.38% | 142.95M | Jun 2013 | SUB vs RVNU | |
| Overlay Shares Municipal Bond ETF | 2.26% | 30.60M | Sep 2019 | SUB vs OVM | |
| T. Rowe Price High Income Municipal ETF | 2.25% | 26.19M | Nov 2025 | SUB vs THYM |
Lowest Volatility Alternatives to SUB
SUB has 1.12% 1-year volatility. There are 12 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | SUB vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.69% | 8.74M | Sep 2024 | SUB vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | SUB vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | SUB vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.84% | 246.47M | Nov 2018 | SUB vs FUMB |
Lowest Drawdown Alternatives to SUB
SUB has a 1-year max drawdown of -0.81%. There are 13 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.47M | Nov 2018 | SUB vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | SUB vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | SUB vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | SUB vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | SUB vs IBMO |
Other ETFs from iShares
The 10 most viewed iShares ETFs shown here include SGOV, IBIT, SOXX and span 14 categories. AUM among these funds goes as high as $869B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | Ultrashort Bond | 100 | 2.11% | 99.95B | May 2020 | SUB vs SGOV | |
| iShares Bitcoin Trust ETF | Cryptocurrency | 1 | -28.22% | 46.52B | Jan 2024 | SUB vs IBIT | |
| iShares Semiconductor ETF | Semiconductors, Technology Equities | 90 | 67.84% | 44.69B | Jul 2001 | SUB vs SOXX | |
| iShares Core S&P 500 ETF | S&P 500 | 67 | 10.13% | 869.20B | May 2000 | SUB vs IVV | |
| iShares Core Dividend Growth ETF | Large Cap Growth Equities, Dividend | 91 | 13.39% | 42.77B | Jun 2014 | SUB vs DGRO | |
| iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 9 | -3.49% | 41.54B | Jul 2002 | SUB vs TLT | |
| iShares Silver Trust | Silver, Precious Metals | 36 | -18.72% | 28.08B | Apr 2006 | SUB vs SLV | |
| iShares Gold Trust | Gold, Precious Metals | 30 | -6.16% | 59.74B | Jan 2005 | SUB vs IAU | |
| iShares Russell 2000 ETF | Small Cap Blend Equities | 79 | 18.79% | 80.11B | May 2000 | SUB vs IWM | |
| iShares MSCI ACWI ETF | Global Equities | 71 | 11.28% | 32.49B | Mar 2008 | SUB vs ACWI |
Often Compared With SUB
Investors most often compare SUB with MUB, VTES, SHM. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare SUB with Any Fund or Stock
Compare SUB with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SUB with funds that move differently
iShares Short-Term National Muni Bond ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SUB.
Explore SUB Diversifiers