SUB vs. MUB
Compare and contrast key facts about iShares Short-Term National Muni Bond ETF (SUB) and iShares National AMT-Free Muni Bond ETF (MUB).
SUB and MUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both SUB and MUB 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: SUB or MUB.
Key characteristics
| SUB | MUB | |
|---|---|---|
| YTD Return | 1.79% | 1.27% |
| 1Y Return | 3.46% | 5.46% |
| 3Y Return (Ann) | 0.91% | -0.18% |
| 5Y Return (Ann) | 1.11% | 1.16% |
| 10Y Return (Ann) | 1.13% | 2.15% |
| Sharpe Ratio | 2.43 | 1.59 |
| Sortino Ratio | 3.83 | 2.33 |
| Omega Ratio | 1.51 | 1.31 |
| Calmar Ratio | 2.99 | 0.93 |
| Martin Ratio | 11.74 | 6.82 |
| Ulcer Index | 0.31% | 0.93% |
| Daily Std Dev | 1.49% | 3.98% |
| Max Drawdown | -9.46% | -13.68% |
| Current Drawdown | -0.55% | -1.50% |
Correlation
The correlation between SUB and MUB 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
SUB vs. MUB - Performance Comparison
In the year-to-date period, SUB achieves a 1.79% return, which is significantly higher than MUB's 1.27% return. Over the past 10 years, SUB has underperformed MUB with an annualized return of 1.13%, while MUB has yielded a comparatively higher 2.15% 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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SUB vs. MUB - Expense Ratio Comparison
Both SUB and MUB 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
SUB vs. MUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term National Muni Bond ETF (SUB) 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.
Dividends
SUB vs. MUB - Dividend Comparison
SUB's dividend yield for the trailing twelve months is around 2.04%, less than MUB's 2.96% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MUB iShares National AMT-Free Muni Bond ETF | 2.96% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% | 2.73% | 3.02% |
Drawdowns
SUB vs. MUB - Drawdown Comparison
The maximum SUB drawdown since its inception was -9.46%, smaller than the maximum MUB drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for SUB and MUB. For additional features, visit the drawdowns tool.
Volatility
SUB vs. MUB - Volatility Comparison
The current volatility for iShares Short-Term National Muni Bond ETF (SUB) is 0.65%, while iShares National AMT-Free Muni Bond ETF (MUB) has a volatility of 1.93%. This indicates that SUB experiences smaller price fluctuations and is considered to be less risky than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.