MUB vs SUB: Holdings Overlap
MUBiShares National Muni Bond ETF
iShares · 6603 holdings · $45.3B · as of 2026-05-31
SUBiShares Short-Term National Muni Bond ETF
iShares · 2873 holdings · $11.3B · as of 2026-05-31
How similar are MUB and SUB?
iShares National Muni Bond ETF (MUB, by iShares) holds 6603 positions; iShares Short-Term National Muni Bond ETF (SUB, by iShares) holds 2873. They have 587 holdings in common, and by portfolio weight the two funds are 7.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 587MUB holds 6603 · SUB holds 2873
- Weight in Shared Holdings
- MUB 8%·SUB 26%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in MUB
6016 of 6603 positions (87.1% of the fund) are not held by SUB. Showing the top 30 by weight.
- Board of Regents of the University of Texas System, Series 2025B0.19%
- New York State Thruway Authority, Series 2022A0.15%
- New York State Dormitory Authority, Series 2019D0.13%
- Ohio State University (The), Series 2026A0.13%
- Houston Higher Education Finance Corp., Series 20240.13%
- Northwest Independent School District, Series 20250.13%
Only in SUB
2286 of 2873 positions (69.1% of the fund) are not held by MUB. Showing the top 30 by weight.
- State of California0.27%
- New Jersey Turnpike Authority, Series 2025B0.25%
- State of California0.24%
- State of California0.24%
- State of Connecticut Special Tax, Series 2025A0.21%
- New York City Transitional Finance Authority Future Tax Secured, Series 2026, Sub-Series D-10.21%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| MUB | -0.9% | +0.8% | +5.1% | +3.3% | +0.7% | +1.9% | 3.22% |
| SUB | +0.2% | +1.1% | +2.0% | +3.1% | +1.5% | +1.5% | 2.56% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in MUB vs SUB →
Shared Holdings(587)
The top 10 shared positions account for 11% of the overlap, led by State of New Jersey, Series 2020A, East County Advanced Water Purification Joint Powers Authority and State of Illinois, Series 2017D.
| State of New Jersey, Series 2020A | 0.13% | 0.17% | 0.13% |
|---|---|---|---|
| East County Advanced Water Purification Joint Powers Authority | 0.11% | 0.18% | 0.11% |
| State of Illinois, Series 2017D | 0.11% | 0.14% | 0.11% |
| New Jersey Educational Facilities Authority, Series A-1 | 0.11% | 0.10% | 0.10% |
| Commonwealth of Pennsylvania, Series 2024 | 0.09% | 0.09% | 0.09% |
| New Jersey Economic Development Authority, Series 2023RRR | 0.07% | 0.37% | 0.07% |
| Hampton Roads Transportation Accountability Commission, Series 2018A | 0.06% | 0.15% | 0.06% |
| City of Los Angeles | 0.06% | 0.12% | 0.06% |
| State of New Jersey, Series 2020A | 0.06% | 0.19% | 0.06% |
| New York State Dormitory Authority, Series 2024A | 0.06% | 0.14% | 0.06% |
| Virginia Commonwealth Transportation Board, Series 2017A | 0.05% | 0.08% | 0.05% |
| State of New Jersey, Series 2020A | 0.05% | 0.05% | 0.05% |
| Los Angeles Department of Water & Power, Series 2020A | 0.05% | 0.12% | 0.05% |
| Fort Bend Independent School District, Series 2024B | 0.05% | 0.16% | 0.05% |
| State of Illinois Sales Tax, Series 2024A | 0.06% | 0.05% | 0.05% |
| County of Clark Department of Aviation, Series 2024A | 0.05% | 0.05% | 0.05% |
| State of Washington, Series R-2022D | 0.07% | 0.05% | 0.05% |
| State of Washington, Series R-2018C | 0.05% | 0.05% | 0.05% |
| Garden State Preservation Trust, Series 2005A | 0.05% | 0.05% | 0.05% |
| County of Montgomery, Series 2024B | 0.04% | 0.09% | 0.04% |
| County of Williamson, Series 2021 | 0.05% | 0.04% | 0.04% |
| State of Illinois, Series 2017C | 0.04% | 0.15% | 0.04% |
| City of San Antonio Electric & Gas Systems, Series 2025A | 0.04% | 0.09% | 0.04% |
| City of San Antonio Electric & Gas Systems, Series 2025A | 0.04% | 0.13% | 0.04% |
| Metropolitan Transportation Authority, Series 2025B | 0.04% | 0.15% | 0.04% |
Showing the top 250 of 587 shared holdings by overlap weight.
Frequently Asked Questions
How much do MUB and SUB overlap?
MUB and SUB overlap by 7.4% of portfolio weight. They share 587 holdings (MUB holds 6603 positions and SUB holds 2873), based on each fund's latest SEC-reported holdings.
Is it redundant to own both MUB and SUB?
The two portfolios are 7.4% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of MUB and SUB?
The largest positions held by both funds are State of New Jersey, Series 2020A, East County Advanced Water Purification Joint Powers Authority, State of Illinois, Series 2017D, New Jersey Educational Facilities Authority, Series A-1 and Commonwealth of Pennsylvania, Series 2024. Together the top 10 shared positions account for 11% of the total overlap.
What does MUB own that SUB doesn't?
6016 positions (87.1% of MUB) are unique to MUB, led by Board of Regents of the University of Texas System, Series 2025B, New York State Thruway Authority, Series 2022A and New York State Dormitory Authority, Series 2019D. In the other direction, 2286 positions (69.1% of SUB) are unique to SUB.