MUB
iShares National Muni Bond ETF
The iShares National Muni Bond ETF seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds.
Municipals
FIXED INCOME
Passive
MANAGEMENT STYLE
38.8 B
ASSETS UNDER MGMT
5 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock Fund Advisors |
| Category | Municipals |
| Asset class | Fixed Income |
| Website | link... |
| Inception date | Sep 07, 2007 |
| Assets (mns) | $38,814 |
| Expense ratio | 5 bp |
Constituent Breakdown
| No. of constituents | 3,857 |
| No. of distinct issuers | 663 |
| Coverage | 97% |
| Fixed/floating rate | 100% / 0% |
| Investment grade | 99% |
| Inflation protected | 0% |
| Non-standard maturity (callable, etc.) | 61% |
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Monthly |
| Taxation | 1099 |
| Bond selection | |
| Weighting | Market Cap |
| Smart-beta | No |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| NEW YORK N Y CITY MUN WTR FIN - 3.25 2053-06 | 0.3 % |
| ATLANTA GA WTR & WASTE WTR REV - 5.0 2040-11 | 0.2 % |
| NORTHWEST TEX INDPT SCH DIST - 5.0 2048-02-1 | 0.2 % |
| BATTERY PK CITY AUTH N Y REV - 5.0 2053-11-0 | 0.2 % |
| NEW YORK ST TWY AUTH ST PERS I - 5.0 2048-03 | 0.2 % |
| MASSACHUSETTS ST - 5.0 2052-11-01 | 0.2 % |
| NEW JERSEY ST - 5.0 2028-06-01 | 0.2 % |
| CONNECTICUT ST HEALTH & EDL FA - 4.1 2042-07 | 0.2 % |
| SEATTLE WASH MUN LT & PWR REV - 3.5 2046-11- | 0.2 % |
| CALIFORNIA ST - 5.0 2031-09-01 | 0.2 % |
Issuer Type Breakdown
Top Issuers
| CALIFORNIA ST | 4.5 % |
| New York N Y City Transitional Fin Auth | 2.9 % |
| New York St Dorm Auth St Pers Income Tax | 2.5 % |
| NEW JERSEY ST TRANSN TR FD AUTH | 2.2 % |
| CALIFORNIA ST FOR PREVIOUS ISSUES SEE 13 | 2.0 % |
Historical Performance
Standardized Performance (as of 03/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 1.1% | -0.3% | 1.1% | -1.5% | -1.6% | -0.3% | -- | 0.3% |
| Dividend Yield | -2.1% | 0.2% | 0.5% | 2.7% | 2.5% | 2.1% | -- | 2.7% |
| Total Returns | -1.0% | 0.0% | 1.5% | 1.2% | 0.9% | 1.9% | -- | 3.0% | Ann. Volatility | 3.9% | 4.0% | 4.3% | 4.5% | 6.3% | 4.8% | -- | 5.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.29 | 54% |
| MSCI EAFE | 0.30 | 58% |
| MSCI Emg Mkts | 0.29 | 57% |
Liquidity Measures
| Avg. volume (000) | 9,832 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $103.89 |
| 30d moving avg. | $104.94 |
| Annualized volatility | 6.8% |
| Relative strength (RSI) | 41 |
| Short interest (ETF) | 1.4% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Credit Quality
Duration
Macaulay Duration
Modified Duration
SHORT
MED.
LONG TERM
9.1 yrs
Modified Duration
◁ INSENSITIVE
EXTREMELY SENSITIVE ▷
9.0%
ⓘ Our analysis shows this fund is likely to be moderately sensitive to changes in interest rates
Interest Rate Sensitivity Analysis
| Change in YTM |
New YTM |
Est. Price Change |
New Price |
|---|---|---|---|
| +300 bp | --% | --% | $-- |
| +200 bp | --% | --% | $-- |
| +150 bp | --% | --% | $-- |
| +100 bp | --% | --% | $-- |
| +75 bp | --% | --% | $-- |
| +50 bp | --% | --% | $-- |
| +25 bp | --% | --% | $-- |
| 0 bp | --% | --% | $-- |
| -25 bp | --% | --% | $-- |
| -50 bp | --% | --% | $-- |
| -75 bp | --% | --% | $-- |
| -100 bp | --% | --% | $-- |
| -150 bp | --% | --% | $-- |
| -200 bp | --% | --% | $-- |
| - 300bp | --% | --% | $-- |
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Yields
Disposition of YTM
Distribution Yield (Trailing 12 Months)
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ETF Research Center Fund Rating
The ALTAR Score™ is our measure of an ETF's overall investment merit. For fixed income funds, the Score is an estimate of risk-adjusted yield to maturity (calculation shown below). In effecient markets, the plot of ALTAR Scores™ vs. Duration should resemble the familiar yield curve. Funds that sit above the curve may offer better risk-adjusted returns than those that sit below the curve.
ALTAR Score™
MUB
3.5%
Cat. Avg
3.6%
Fund Category: Municipals
| Adj. Yield to Maturity | -- bp |
| Less: Annual "default factor" | -- bp |
| Less: Expenses | 5 bp |
| Equals: ALTAR Score™ | 3.5% |
ALTAR Score™ vs. Duration (Municipals Bond ETFs)
Expense Analysis
| Peer Group | Passive Municipals Fixed Income ETFs |
| # of ETFs | 11 |
| Avg. Expense Ratio | 21.3 bp |
| Std. Deviation | 8.3 bp |
| MUB (5 bp) Percentile rank | 6 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| MUB | 5.0 | 1.0 | 6 |
| Peer Avg. | 36.2 | 28.2 | 64.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .