SUB vs. SMB
Compare and contrast key facts about iShares Short-Term National Muni Bond ETF (SUB) and VanEck Short Muni ETF (SMB).
SUB and SMB 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. 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. Both SUB and SMB 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 SMB.
Key characteristics
| SUB | SMB | |
|---|---|---|
| YTD Return | 1.85% | 2.38% |
| 1Y Return | 3.87% | 4.50% |
| 3Y Return (Ann) | 0.90% | 0.37% |
| 5Y Return (Ann) | 1.13% | 1.01% |
| 10Y Return (Ann) | 1.13% | 1.19% |
| Sharpe Ratio | 2.54 | 1.97 |
| Sortino Ratio | 4.02 | 2.97 |
| Omega Ratio | 1.53 | 1.39 |
| Calmar Ratio | 2.50 | 1.08 |
| Martin Ratio | 12.58 | 14.30 |
| Ulcer Index | 0.30% | 0.30% |
| Daily Std Dev | 1.49% | 2.16% |
| Max Drawdown | -9.46% | -12.64% |
| Current Drawdown | -0.50% | -0.39% |
Correlation
The correlation between SUB and SMB 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
SUB vs. SMB - Performance Comparison
In the year-to-date period, SUB achieves a 1.85% return, which is significantly lower than SMB's 2.38% return. Over the past 10 years, SUB has underperformed SMB with an annualized return of 1.13%, while SMB has yielded a comparatively higher 1.19% 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. SMB - Expense Ratio Comparison
SUB has a 0.07% expense ratio, which is lower than SMB's 0.20% 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%.
Risk-Adjusted Performance
SUB vs. SMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term National Muni Bond ETF (SUB) and VanEck Short Muni ETF (SMB). 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. SMB - Dividend Comparison
SUB's dividend yield for the trailing twelve months is around 2.04%, less than SMB's 2.30% 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% |
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% |
Drawdowns
SUB vs. SMB - Drawdown Comparison
The maximum SUB drawdown since its inception was -9.46%, smaller than the maximum SMB drawdown of -12.64%. Use the drawdown chart below to compare losses from any high point for SUB and SMB. For additional features, visit the drawdowns tool.
Volatility
SUB vs. SMB - Volatility Comparison
iShares Short-Term National Muni Bond ETF (SUB) has a higher volatility of 0.67% compared to VanEck Short Muni ETF (SMB) at 0.60%. This indicates that SUB's price experiences larger fluctuations and is considered to be riskier than SMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.