MUB Performance — iShares National Muni Bond ETF
Data updated: 2026-07-24
MUB returned +1.20% year to date and +6.33% over one year to May 2026. Annualised returns are +3.39% over 3 years and +0.89% over 5 years. Against its Intermediate Municipal Bond category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $111, against $111 for the category, and to $106 over one year, against $106. Volatility over the past three years was 5.07% a year. In the 12 months to May 2026 the fund took in a net $5.0B, and assets reached $44.95B.
MUB Growth of $100
What $100 invested in iShares National Muni Bond ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | MUB | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $106 |
| 3 years (Jun 2023 – May 2026) | $111 | $111 |
| 5 years (Jun 2021 – May 2026) | $105 | $104 |
| Since data start (Sep 2019 – May 2026) | $110 | $109 |
MUB Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.20% |
| 1 year | +6.33% |
| 3 years (annualised) | +3.39% |
| 5 years (annualised) | +0.89% |
MUB Annual Returns
Calendar-year total returns of iShares National Muni Bond ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +1.20% |
| 2025 | +3.69% |
| 2024 | +1.11% |
| 2023 | +5.86% |
| 2022 | −7.50% |
| 2021 | +1.25% |
| 2020 | +4.87% |
| 2019 (Sep–Dec) | −0.19% |
MUB Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | +1.2% | −2.2% | +1.1% | +0.4% | — | — | — | — | — | — | — |
| 2025 | +0.2% | +0.9% | −1.8% | −0.5% | −0.2% | +0.7% | −0.3% | +0.8% | +2.2% | +1.1% | +0.3% | +0.2% |
| 2024 | −0.2% | 0.0% | −0.2% | −1.0% | −0.3% | +1.4% | +0.8% | +0.7% | +0.9% | −1.4% | +1.5% | −1.1% |
| 2023 | +2.6% | −2.2% | +2.1% | −0.2% | −0.7% | +0.8% | +0.2% | −1.1% | −2.6% | −1.0% | +5.8% | +2.2% |
| 2022 | −2.5% | −0.4% | −2.8% | −2.5% | +1.6% | −1.6% | +2.4% | −2.2% | −3.1% | −0.6% | +4.4% | −0.1% |
| 2021 | +0.5% | −1.7% | +0.6% | +0.9% | +0.3% | +0.3% | +0.7% | −0.4% | −0.7% | −0.1% | +0.8% | +0.1% |
| 2020 | +1.8% | +1.3% | −3.3% | −1.4% | +3.2% | +0.7% | +1.5% | −0.4% | −0.1% | −0.2% | +1.4% | +0.6% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | +0.1% | +0.2% | +0.3% |
MUB Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 5.07%
- 3-year Sharpe ratio: -0.22 (vs 4.5% risk-free rate)
- Best month: +5.78% (Nov 2023)
- Worst month: −2.56% (Sep 2023)
MUB Fund Flows
Monthly money in and out of iShares National Muni Bond ETF, from SEC Form N-PORT.
- 12-month net flow: $5.0B
- 12-month gross sales (incl. reinvestments): $7.6B
- Sales ÷ redemptions: 2.99×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $1.2B | $0 | $1.2B |
| Apr 2026 | $778.8M | $10.7M | $768.1M |
| Mar 2026 | $792.4M | $350.7M | $441.7M |
| Feb 2026 | $303.8M | $0 | $303.8M |
| Jan 2026 | $785.7M | $128.8M | $656.9M |
| Dec 2025 | $96.4M | $0 | $96.4M |
| Nov 2025 | $525.9M | $0 | $525.9M |
| Oct 2025 | $1.3B | $0 | $1.3B |
| Sep 2025 | $635.0M | $628.4M | $6.6M |
| Aug 2025 | $260.4M | $291.4M | −$31.1M |
| Jul 2025 | $601.9M | $570.0M | $31.9M |
| Jun 2025 | $250.1M | $548.1M | −$298.0M |
MUB Assets Under Management
Net assets of iShares National Muni Bond ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $44.95B |
| 2026-02-28 | $43.23B |
| 2025-11-30 | $41.59B |
| 2025-08-31 | $38.63B |
| 2025-05-31 | $38.77B |
| 2025-02-28 | $40.96B |
| 2024-11-30 | $41.15B |
| 2024-08-31 | $38.70B |
| 2024-05-31 | $36.55B |
| 2024-02-29 | $36.79B |
| 2023-11-30 | $37.35B |
| 2023-08-31 | $33.00B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.