WTMU vs. SUB

Last updated Aug 4, 2026

WTMU (WisdomTree Core Laddered Municipal ETF) and SUB (iShares Short-Term National Muni Bond ETF) are both Municipal Bonds funds. WTMU is actively managed, while SUB is passively managed. Over the past year, WTMU returned 3.23% vs 1.90% for SUB. Their 0.51 correlation means they have sometimes moved together and sometimes differently. WTMU charges 0.25%/yr vs 0.07%/yr for SUB.

Performance

WTMU vs. SUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Core Laddered Municipal ETF (WTMU) and iShares Short-Term National Muni Bond ETF (SUB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WTMU achieves a -0.52% return, which is significantly lower than SUB's 0.81% return.

WTMU

• 1D: 0.22%
• 1M: -1.07%
• 6M: -1.35%
• YTD: -0.52%
• 1Y: 3.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.32%

SUB

• 1D: 0.05%
• 1M: -0.10%
• 6M: 0.23%
• YTD: 0.81%
• 1Y: 1.90%
• 3Y*: 3.07%
• 5Y*: 1.41%
• 10Y*: 1.44%
• ALL TIME*: 1.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SUB iShares Short-Term National Muni Bond ETF	$47.04M	$43.43M	$47.37M
WTMU WisdomTree Core Laddered Municipal ETF	$17.49K	$9.91K	$38.76K

WTMU vs. SUB - Yearly Performance Comparison

	2026 (YTD)	2025
WTMU WisdomTree Core Laddered Municipal ETF	-0.52%	4.99%
SUB iShares Short-Term National Muni Bond ETF	0.81%	2.89%

Correlation

The correlation between WTMU and SUB is 0.42, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.42
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.51

The correlation between WTMU and SUB has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.

Return for Risk

WTMU vs. SUB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WTMU

WTMU Risk / Return Rank: 42
WTMU Sharpe Ratio Rank: 49
WTMU Sortino Ratio Rank: 45
WTMU Omega Ratio Rank: 55
WTMU Calmar Ratio Rank: 31
WTMU Martin Ratio Rank: 30

SUB

SUB Risk / Return Rank: 69
SUB Sharpe Ratio Rank: 73
SUB Sortino Ratio Rank: 71
SUB Omega Ratio Rank: 80
SUB Calmar Ratio Rank: 66
SUB Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WTMU vs. SUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Core Laddered Municipal ETF (WTMU) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WTMU	SUB	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.71	-0.36
Sortino ratio: Return per unit of downside risk	1.82	2.36	-0.54
Omega ratio: Gain probability vs. loss probability	1.27	1.35	-0.07
Calmar ratio: Return relative to maximum drawdown	1.13	2.36	-1.23
Martin ratio: Return relative to average drawdown	2.72	6.49	-3.77

WTMU vs. SUB - Sharpe Ratio Comparison

The current WTMU Sharpe Ratio is 1.35, which is comparable to the SUB Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of WTMU and SUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WTMU vs. SUB - Drawdown Comparison

The maximum WTMU drawdown since its inception was -4.24%, smaller than the maximum SUB drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for WTMU and SUB.

Drawdown Indicators

	WTMU	SUB	Difference
Max Drawdown Largest peak-to-trough decline	-4.24%	-9.46%	+5.22%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-0.81%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-4.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-9.46%	—
Current Drawdown Current decline from peak	-2.46%	-0.15%	-2.31%
Average Drawdown Average peak-to-trough decline	-0.77%	-0.91%	+0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	0.29%	+0.90%

Volatility

WTMU vs. SUB - Volatility Comparison

WisdomTree Core Laddered Municipal ETF (WTMU) has a higher volatility of 1.12% compared to iShares Short-Term National Muni Bond ETF (SUB) at 0.50%. This indicates that WTMU'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.

Volatility by Period

	WTMU	SUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	0.50%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	2.08%	0.90%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.41%	1.12%	+1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.58%	1.65%	+2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.58%	2.60%	+1.98%

WTMU vs. SUB - Expense Ratio Comparison

WTMU has a 0.25% 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%.

Dividends

WTMU vs. SUB - Dividend Comparison

WTMU's dividend yield for the trailing twelve months is around 3.23%, more than SUB's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SUB iShares Short-Term National Muni Bond ETF	2.56%	2.42%	2.10%	1.73%	0.86%	0.72%	1.23%	1.58%	1.32%	0.95%	0.75%	0.77%
WTMU WisdomTree Core Laddered Municipal ETF	3.23%	2.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WTMU and SUB in my portfolio?

WTMU and SUB have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WTMU or SUB?

WTMU has higher volatility (1.12%) compared to SUB (0.50%). In terms of maximum drawdown, WTMU dropped -4.24% vs SUB's -9.46%.

Which ETF is better, WTMU or SUB?

On 1-year performance, WTMU leads with 3.23% vs 1.90% for SUB. On fees, SUB is cheaper at 0.07% per year. On volatility, SUB has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WTMU or SUB?

Over the 1-year period, WTMU has performed better with a 3.23% return vs 1.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WTMU or SUB?

SUB is cheaper with a 0.07% expense ratio, compared with 0.25% for WTMU.

Which ETF pays a higher dividend yield, WTMU or SUB?

WTMU has the higher dividend yield at 3.23%, compared with 2.56% for SUB.

What is the main difference between WTMU and SUB?

They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.25% for WTMU and 0.07% for SUB.

Which has better risk-adjusted returns?

SUB currently has the higher Sharpe Ratio (1.71 vs 1.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.