iShares Short-Term National Muni Bond ETF

Price: $104.45
Change: $0.09 (0.0%)
Category: National Munis
Last Updated:


Brand iShares
Structure ETF
Expense Ratio 0.07%
ETF Home Page Home page
Inception Nov 05, 2008

Analyst Report

This fund tracks an index of municipal bonds, a slice of the bond market that is highly coveted due to its tax features. These bonds are generally free from federal taxes and in some cases, state and local income taxes as well making these funds crucial components of portfolios for those in high tax brackets. Muni bonds are used by local entities to pay for a variety of services or to make improvements to infrastructure paying for everything from new sewer systems to school renovations and bridge construction as such, they are relatively low risk instruments. This is especially true in the case of SUB since the fund only targets short term munis which have less default risk then their longer-dated counterparts. As a result SUB is a solid choice for investors seeking broad exposure to the muni market but with lower levels of risk. The fund still has very good levels of diversification— holding over 500 securities— but a relatively high expense ratio making the fund a choice for those who are willing to sacrifice a few basis points in fees for one of the most diversified portfolios in the Category. However, investors should be aware that these shorter term instruments are likely to pay out a lower rate of interest than some of the longer-term bonds that are out there, potentially limiting current income.

ETF Database Themes

Category National Munis
Asset Class Bond
Region (General) North America
Region (Specific) U.S.
Bond Type(s) Municipal Bond
Bond Duration All-Term

FactSet Classifications

Segment Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Short-Term
Category Government, Local Authority/Municipal
Focus Investment Grade
Niche Short-Term
Strategy Vanilla
Weighting Scheme Market Value

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $101.16
  • 52 Week Hi $104.69
  • AUM $8,636.3 M
  • Shares 82.8 M

Historical Trading Data

  • 1 Month Avg. Volume 337,735
  • 3 Month Avg. Volume 373,211

Alternative ETFs in the ETF Database National Munis Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VTEB 0.05% $32.8 B 4 M -0.37%
Largest (AUM) MUB 0.05% $37.4 B 4 M -0.39%
Most Liquid (Volume) VTEB 0.05% $32.8 B 4 M -0.37%
Top YTD Performer RTAI 3.78% $19.4 M 2,314 3.77%

Alternative ETFs in the FactSet Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Short-Term Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest SMB 0.07% $255.2 M 69,878 0.27%
Largest (AUM) SHM 0.20% $3.8 B 265,537 -0.68%
Most Liquid (Volume) JMST 0.18% $2.7 B 293,251 1.29%
Top YTD Performer MEAR 0.25% $650.2 M 89,278 1.74%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

SUB ETF Database Category Average FactSet Segment Average
Number of Holdings 2443 989 910
% of Assets in Top 10 4.24% 15.82% 12.96%
% of Assets in Top 15 5.76% 19.79% 17.28%
% of Assets in Top 50 13.92% 38.28% 38.69%

Size Comparison

SUB ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

SUB Valuation

This section compares the P/E ratio of this ETF to its peers.

P/E Ratio
ETF Database Category Average
P/E Ratio
FactSet Segment Average
P/E Ratio

SUB Dividend

This section compares the dividend yield of this ETF to its peers.

SUB ETF Database Category Average FactSet Segment Average
Dividend $ 0.19 $ 0.09 $ 0.10
Dividend Date 2024-06-03 N/A N/A
Annual Dividend Rate $ 2.00 $ 0.97 $ 0.94
Annual Dividend Yield 1.92% 2.85% 2.41%

SUB Price and Volume Charts

View charts featuring SUB price and volume data.

SUB Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: -57.38 M 1 Month Net Flows: -78.23 M 3 Month Net Flows: -172.42 M 6 Month Net Flows: -335.02 M 1 Year Net Flows: -1.14 B 3 Year Net Flows: 3.93 B 5 Year Net Flows: 6.51 B 10 Year Net Flows: 7.96 B

SUB Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

5 Day Net AUM Change: -38.84 M
1 Month Net AUM Change: -95.07 M
3 Month Net AUM Change: -223.84 M
6 Month Net AUM Change: -373.03 M
1 Year Net AUM Change: -1.08 B
3 Year Net AUM Change: 3.73 B
5 Year Net AUM Change: 6.31 B
10 Year Net AUM Change: 7.78 B

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for SUB on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the National Munis with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A VTEB
Expenses A VTEB

A+ Overall Rated ETF:

SUB Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

Expense Ratio
ETF Database Category Average
Expense Ratio
FactSet Segment Average
Expense Ratio

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

SUB does not have an ESG score. There are no ESG themes that map to this ETF.

SUB Performance

This section shows how this ETF has performed relative to its peers. Returns over 1 year are annualized.

SUB ETF Database
Category Average
Factset Segment
1 Month Return -0.01% 0.30% 0.15%
3 Month Return -0.01% -0.04% 0.21%
YTD Return -0.09% 0.33% 0.40%
1 Year Return 2.59% 3.75% 2.60%
3 Year Return 0.19% -0.99% -0.07%
5 Year Return 0.92% 0.68% 0.59%

Geographic Exposure

The following charts reflect the geographic spread of SUB's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of SUB's underlying holdings.

Asset Percentage
Municipal 98.55%
CASH 0.95%
Other 0.0%
Bond Sector Percentage
Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 0.0%
15-20 Years 0.0%
20-30 Years 0.0%
30+ Years 0.0%
Asset Percentage
Municipal 98.55%
CASH 0.95%
Other 0.0%

SUB Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 10.57%
20 Day Volatility 1.35%
50 Day Volatility 1.31%
200 Day Volatility 1.28%
Beta 0.05
Standard Deviation 1.13%
5 Day Volatility
43 of 51

20 Day Volatility
47 of 51

50 Day Volatility
47 of 51

200 Day Volatility
47 of 51

46 of 50

Standard Deviation
9 of 51


  • 20 Day MA $104.23
  • 60 Day MA $104.22
  • MACD 15 Period 0.30
  • MACD 100 Period 0.21
  • Williams % Range 10 Day 23.96
  • Williams % Range 20 Day 25.62
  • RSI 10 Day 64
  • RSI 20 Day 57
  • RSI 30 Day 55
  • Ultimate Oscillator 50

Bollinger Bands

  • Lower Bollinger (10 Day) $103.87
  • Upper Bollinger (10 Day) $104.56
  • Lower Bollinger (20 Day) $103.84
  • Upper Bollinger (20 Day) $104.64
  • Lower Bollinger (30 Day) $103.90
  • Upper Bollinger (30 Day) $104.71

Support & Resistance

  • Support Level 1 $104.39
  • Support Level 2 $104.32
  • Resistance Level 1 $104.57
  • Resistance Level 2 $104.68


  • Stochastic Oscillator %D (1 Day) 40.37
  • Stochastic Oscillator %D (5 Day) 61.35
  • Stochastic Oscillator %K (1 Day) 49.12
  • Stochastic Oscillator %K (5 Day) 61.48


  • Tracking Difference Median (%) -0.14
  • Tracking Difference Max Upside (%) -0.09
  • Tracking Difference Max Downside (%) -0.18
  • Median Premium Discount (%) 0.01
  • Maximum Premium Discount (%) 0.35
  • Average Spread (%) 1.13
  • Average Spread ($) 1.13

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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