MUB vs. MEAR
Compare and contrast key facts about iShares National AMT-Free Muni Bond ETF (MUB) and iShares Short Maturity Municipal Bond ETF (MEAR).
MUB and MEAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MUB is a passively managed fund by iShares that tracks the performance of the S&P National AMT-Free Municipal Bond Index. It was launched on Sep 7, 2007. MEAR is an actively managed fund by iShares. It was launched on Mar 3, 2015.
Performance
MUB vs. MEAR - Performance Comparison
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MUB vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | -0.37% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
MEAR iShares Short Maturity Municipal Bond ETF | 0.47% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 1.91% | 1.63% | 1.12% |
Returns By Period
In the year-to-date period, MUB achieves a -0.37% return, which is significantly lower than MEAR's 0.47% return. Over the past 10 years, MUB has outperformed MEAR with an annualized return of 1.96%, while MEAR has yielded a comparatively lower 1.74% annualized return.
MUB
- 1D
- 0.19%
- 1M
- -2.28%
- YTD
- -0.37%
- 6M
- 1.28%
- 1Y
- 3.94%
- 3Y*
- 2.53%
- 5Y*
- 0.79%
- 10Y*
- 1.96%
MEAR
- 1D
- 0.12%
- 1M
- -0.31%
- YTD
- 0.47%
- 6M
- 1.07%
- 1Y
- 3.12%
- 3Y*
- 3.50%
- 5Y*
- 2.30%
- 10Y*
- 1.74%
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MUB vs. MEAR - Expense Ratio Comparison
MUB has a 0.07% expense ratio, which is lower than MEAR's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
MUB vs. MEAR — Risk / Return Rank
MUB
MEAR
MUB vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
| MUB | MEAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 2.71 | -1.75 |
Sortino ratioReturn per unit of downside risk | 1.25 | 3.63 | -2.39 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.70 | -0.49 |
Calmar ratioReturn relative to maximum drawdown | 1.27 | 3.69 | -2.42 |
Martin ratioReturn relative to average drawdown | 4.07 | 20.82 | -16.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MUB | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 2.71 | -1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 2.37 | -2.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 1.15 | -0.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 1.09 | -0.52 |
Correlation
The correlation between MUB and MEAR is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MUB vs. MEAR - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.19%, more than MEAR's 2.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.19% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.87% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Drawdowns
MUB vs. MEAR - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for MUB and MEAR.
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Drawdown Indicators
| MUB | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -2.68% | -11.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -0.86% | -2.44% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -1.12% | -10.76% |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | -2.68% | -11.00% |
Current DrawdownCurrent decline from peak | -2.28% | -0.35% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -2.24% | -0.19% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.15% | +0.88% |
Volatility
MUB vs. MEAR - Volatility Comparison
iShares National AMT-Free Muni Bond ETF (MUB) has a higher volatility of 1.53% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.36%. This indicates that MUB's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUB | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 0.36% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.03% | 0.60% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 1.16% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 0.98% | +3.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 1.52% | +3.39% |