IBMM vs. MUB

Last updated Jun 5, 2026

IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both Municipal Bonds funds from iShares - IBMM tracks the S&P AMT-Free Municipal Series Dec 2024 Index while MUB tracks the S&P National AMT-Free Municipal Bond Index. Both are passively managed. IBMM charges 0.18%/yr vs 0.07%/yr for MUB.

Performance

IBMM vs. MUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and iShares National AMT-Free Muni Bond ETF (MUB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IBMM

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUB

• 1D: 0.17%
• 1M: 0.66%
• YTD: 1.41%
• 6M: 1.92%
• 1Y: 6.87%
• 3Y*: 3.41%
• 5Y*: 0.89%
• 10Y*: 2.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBMM vs. MUB - Yearly Performance Comparison

	2026 (YTD)
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%
MUB iShares National AMT-Free Muni Bond ETF	0.60%

Return for Risk

IBMM vs. MUB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUB

MUB Risk / Return Rank: 68
MUB Sharpe Ratio Rank: 74
MUB Sortino Ratio Rank: 78
MUB Omega Ratio Rank: 83
MUB Calmar Ratio Rank: 51
MUB Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBMM vs. MUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM) and iShares National AMT-Free Muni Bond ETF (MUB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IBMM	MUB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.37	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.59	—

Drawdowns

IBMM vs. MUB - Drawdown Comparison

The maximum IBMM drawdown since its inception was 0.00%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for IBMM and MUB.

Drawdown Indicators

	IBMM	MUB	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-13.68%	+13.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.79%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.68%	—
Current Drawdown Current decline from peak	0.00%	-0.53%	+0.53%
Average Drawdown Average peak-to-trough decline	0.00%	-2.23%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.79%	—

Volatility

Volatility by Period

	IBMM	MUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.98%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.92%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	4.06%	-4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	4.92%	-4.92%

IBMM vs. MUB - Expense Ratio Comparison

IBMM has a 0.18% expense ratio, which is higher than MUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBMM vs. MUB - Dividend Comparison

IBMM has not paid dividends to shareholders, while MUB's dividend yield for the trailing twelve months is around 3.17%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MUB iShares National AMT-Free Muni Bond ETF	3.17%	3.14%	3.01%	2.65%	2.11%	1.81%	2.11%	2.42%	2.46%	2.26%	2.21%	2.51%

Frequently Asked Questions

Which ETF is better, IBMM or MUB?

On fees, MUB is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMM or MUB?

MUB is cheaper with a 0.07% expense ratio, compared with 0.18% for IBMM.

Which ETF pays a higher dividend yield, IBMM or MUB?

MUB has the higher dividend yield at 3.17%, compared with 0.00% for IBMM.

What is the main difference between IBMM and MUB?

IBMM tracks S&P AMT-Free Municipal Series Dec 2024 Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. Their fees differ too: 0.18% for IBMM and 0.07% for MUB.