MUB vs. SUB
Compare and contrast key facts about iShares National AMT-Free Muni Bond ETF (MUB) and iShares Short-Term National Muni Bond ETF (SUB).
MUB and SUB 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. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008. Both MUB and SUB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MUB or SUB.
Key characteristics
| MUB | SUB | |
|---|---|---|
| YTD Return | 1.59% | 1.82% |
| 1Y Return | 5.64% | 3.46% |
| 3Y Return (Ann) | 0.00% | 0.91% |
| 5Y Return (Ann) | 1.22% | 1.11% |
| 10Y Return (Ann) | 2.20% | 1.13% |
| Sharpe Ratio | 1.55 | 2.37 |
| Sortino Ratio | 2.23 | 3.72 |
| Omega Ratio | 1.30 | 1.49 |
| Calmar Ratio | 0.93 | 3.05 |
| Martin Ratio | 6.44 | 11.26 |
| Ulcer Index | 0.94% | 0.31% |
| Daily Std Dev | 3.90% | 1.49% |
| Max Drawdown | -13.68% | -9.46% |
| Current Drawdown | -1.19% | -0.53% |
Correlation
The correlation between MUB and SUB is 0.37, 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.
Performance
MUB vs. SUB - Performance Comparison
In the year-to-date period, MUB achieves a 1.59% return, which is significantly lower than SUB's 1.82% return. Over the past 10 years, MUB has outperformed SUB with an annualized return of 2.20%, while SUB has yielded a comparatively lower 1.13% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MUB vs. SUB - Expense Ratio Comparison
Both MUB and SUB have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Risk-Adjusted Performance
MUB vs. SUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares National AMT-Free Muni Bond ETF (MUB) and iShares Short-Term National Muni Bond ETF (SUB). 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.
Dividends
MUB vs. SUB - Dividend Comparison
MUB's dividend yield for the trailing twelve months is around 2.95%, more than SUB's 2.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 2.95% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% | 2.73% | 3.02% |
SUB iShares Short-Term National Muni Bond ETF | 2.04% | 1.73% | 0.86% | 0.72% | 1.23% | 1.59% | 1.32% | 0.94% | 0.75% | 0.77% | 0.76% | 0.84% |
Drawdowns
MUB vs. SUB - Drawdown Comparison
The maximum MUB drawdown since its inception was -13.68%, which is greater than SUB's maximum drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for MUB and SUB. For additional features, visit the drawdowns tool.
Volatility
MUB vs. SUB - Volatility Comparison
iShares National AMT-Free Muni Bond ETF (MUB) has a higher volatility of 1.95% compared to iShares Short-Term National Muni Bond ETF (SUB) at 0.65%. This indicates that MUB's price experiences larger fluctuations and is considered to be riskier than SUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.