MUB vs. NEA
Compare and contrast key facts about iShares National AMT-Free Muni Bond ETF (MUB) and Nuveen AMT-Free Quality Municipal Income Fund (NEA).
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.
Performance
MUB vs. NEA - Performance Comparison
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MUB vs. NEA - 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% |
NEA Nuveen AMT-Free Quality Municipal Income Fund | -1.74% | 11.31% | 9.50% | 0.75% | -23.32% | 8.16% | 10.07% | 22.42% | -5.72% | 8.77% |
Returns By Period
In the year-to-date period, MUB achieves a -0.37% return, which is significantly higher than NEA's -1.74% return. Over the past 10 years, MUB has underperformed NEA with an annualized return of 1.96%, while NEA has yielded a comparatively higher 3.01% 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%
NEA
- 1D
- 2.28%
- 1M
- -4.67%
- YTD
- -1.74%
- 6M
- 2.13%
- 1Y
- 8.05%
- 3Y*
- 6.92%
- 5Y*
- 0.07%
- 10Y*
- 3.01%
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Return for Risk
MUB vs. NEA — Risk / Return Rank
MUB
NEA
MUB vs. NEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and Nuveen AMT-Free Quality Municipal Income Fund (NEA). 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 | NEA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.72 | +0.24 |
Sortino ratioReturn per unit of downside risk | 1.25 | 1.04 | +0.20 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.15 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.27 | 1.02 | +0.25 |
Martin ratioReturn relative to average drawdown | 4.07 | 4.27 | -0.20 |
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 | NEA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.72 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.01 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | 0.26 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.31 | +0.26 |
Correlation
The correlation between MUB and NEA is 0.36, 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. NEA - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 3.19%, less than NEA's 7.49% 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% |
NEA Nuveen AMT-Free Quality Municipal Income Fund | 7.49% | 7.36% | 6.63% | 3.95% | 5.49% | 4.50% | 4.45% | 4.46% | 5.40% | 5.33% | 5.70% | 5.71% |
Drawdowns
MUB vs. NEA - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, smaller than the maximum NEA drawdown of -43.83%. Use the drawdown chart below to compare losses from any high point for MUB and NEA.
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Drawdown Indicators
| MUB | NEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -43.83% | +30.15% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -8.45% | +5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -36.57% | +24.69% |
Max Drawdown (10Y)Largest decline over 10 years | -13.68% | -36.57% | +22.89% |
Current DrawdownCurrent decline from peak | -2.28% | -8.64% | +6.36% |
Average DrawdownAverage peak-to-trough decline | -2.24% | -8.03% | +5.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 2.02% | -0.99% |
Volatility
MUB vs. NEA - Volatility Comparison
The current volatility for iShares National AMT-Free Muni Bond ETF (MUB) is 1.53%, while Nuveen AMT-Free Quality Municipal Income Fund (NEA) has a volatility of 4.87%. This indicates that MUB experiences smaller price fluctuations and is considered to be less risky than NEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUB | NEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 4.87% | -3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 2.03% | 7.04% | -5.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.14% | 11.31% | -7.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 11.17% | -7.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 11.67% | -6.76% |