SMB vs. SUB
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and iShares Short-Term National Muni Bond ETF (SUB).
SMB and SUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMB is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Short Continuous. It was launched on Feb 22, 2008. 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 SMB 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: SMB or SUB.
Key characteristics
| SMB | SUB | |
|---|---|---|
| YTD Return | 2.23% | 1.75% |
| 1Y Return | 3.92% | 3.58% |
| 3Y Return (Ann) | 0.28% | 0.89% |
| 5Y Return (Ann) | 0.95% | 1.10% |
| 10Y Return (Ann) | 1.17% | 1.13% |
| Sharpe Ratio | 1.86 | 2.44 |
| Sortino Ratio | 2.78 | 3.84 |
| Omega Ratio | 1.37 | 1.51 |
| Calmar Ratio | 1.12 | 2.72 |
| Martin Ratio | 13.16 | 11.85 |
| Ulcer Index | 0.30% | 0.31% |
| Daily Std Dev | 2.13% | 1.49% |
| Max Drawdown | -12.64% | -9.46% |
| Current Drawdown | -0.54% | -0.59% |
Correlation
The correlation between SMB and SUB is 0.24, 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
SMB vs. SUB - Performance Comparison
In the year-to-date period, SMB achieves a 2.23% return, which is significantly higher than SUB's 1.75% return. Both investments have delivered pretty close results over the past 10 years, with SMB having a 1.17% annualized return and SUB not far behind at 1.13%. 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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SMB vs. SUB - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is higher than SUB'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%.
Risk-Adjusted Performance
SMB vs. SUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) 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
SMB vs. SUB - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.30%, more than SUB's 2.05% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.30% | 1.84% | 1.32% | 1.25% | 1.51% | 1.58% | 1.49% | 1.24% | 1.13% | 1.14% | 1.21% | 1.37% |
SUB iShares Short-Term National Muni Bond ETF | 2.05% | 1.73% | 0.86% | 0.72% | 1.23% | 1.59% | 1.32% | 0.94% | 0.75% | 0.77% | 0.76% | 0.84% |
Drawdowns
SMB vs. SUB - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than SUB's maximum drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for SMB and SUB. For additional features, visit the drawdowns tool.
Volatility
SMB vs. SUB - Volatility Comparison
VanEck Short Muni ETF (SMB) and iShares Short-Term National Muni Bond ETF (SUB) have volatilities of 0.64% and 0.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.