SUB Performance — iShares Short-Term National Muni Bond ETF
Data updated: 2026-07-24
SUB returned +0.75% year to date and +3.12% over one year to May 2026. Annualised returns are +3.09% over 3 years and +1.47% over 5 years. The fund trailed its Short-Term Municipal Bond category average: $100 invested three years ago grew to $110, against $111 for the category, and to $103 over one year, against $104. Volatility over the past three years was 1.69% a year. In the 12 months to May 2026 the fund took in a net $1.6B, and assets reached $11.26B.
SUB Growth of $100
What $100 invested in iShares Short-Term National Muni Bond ETF grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Short-Term Municipal Bond category average over the same months.
| Period | SUB | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $103 | $104 |
| 3 years (Jun 2023 – May 2026) | $110 | $111 |
| 5 years (Jun 2021 – May 2026) | $108 | $108 |
| Since data start (Sep 2019 – May 2026) | $111 | $112 |
SUB Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.75% |
| 1 year | +3.12% |
| 3 years (annualised) | +3.09% |
| 5 years (annualised) | +1.47% |
SUB Annual Returns
Calendar-year total returns of iShares Short-Term National Muni Bond ETF, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.75% |
| 2025 | +3.69% |
| 2024 | +2.04% |
| 2023 | +3.11% |
| 2022 | −2.15% |
| 2021 | +0.21% |
| 2020 | +2.26% |
| 2019 (Sep–Dec) | +0.34% |
SUB 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 | +0.6% | +0.4% | −0.7% | +0.3% | +0.2% | — | — | — | — | — | — | — |
| 2025 | +0.5% | +0.5% | −0.1% | −0.1% | +0.6% | +0.6% | +0.6% | +0.5% | +0.2% | −0.1% | +0.2% | +0.4% |
| 2024 | −0.1% | +0.1% | −0.2% | −0.2% | −0.1% | +0.7% | +0.7% | +0.8% | +0.4% | −0.5% | +0.5% | −0.2% |
| 2023 | +1.1% | −1.2% | +1.3% | −0.5% | −0.4% | +0.5% | +0.1% | 0.0% | −0.7% | +0.2% | +1.9% | +0.8% |
| 2022 | −1.2% | −0.2% | −1.1% | −0.7% | +1.0% | −0.1% | +0.9% | −1.1% | −1.3% | +0.1% | +1.6% | +0.1% |
| 2021 | +0.2% | −0.4% | +0.2% | +0.2% | 0.0% | 0.0% | +0.3% | −0.1% | −0.2% | −0.1% | +0.1% | 0.0% |
| 2020 | +0.6% | +0.3% | −1.1% | 0.0% | +1.6% | +0.2% | +0.4% | −0.1% | 0.0% | −0.1% | +0.2% | +0.1% |
| 2019 | — | — | — | — | — | — | — | — | −0.3% | +0.3% | +0.1% | +0.2% |
SUB Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 1.69%
- 3-year Sharpe ratio: -0.83 (vs 4.5% risk-free rate)
- Best month: +1.94% (Nov 2023)
- Worst month: −0.72% (Sep 2023)
SUB Fund Flows
Monthly money in and out of iShares Short-Term National Muni Bond ETF, from SEC Form N-PORT.
- 12-month net flow: $1.6B
- 12-month gross sales (incl. reinvestments): $1.8B
- Sales ÷ redemptions: 9.19×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $148.8M | $0 | $148.8M |
| Apr 2026 | $181.2M | $0 | $181.2M |
| Mar 2026 | $149.2M | $0 | $149.2M |
| Feb 2026 | $107.3M | $0 | $107.3M |
| Jan 2026 | $294.6M | $0 | $294.6M |
| Dec 2025 | $309.2M | $0 | $309.2M |
| Nov 2025 | $37.3M | $0 | $37.3M |
| Oct 2025 | $16.0M | $21.3M | −$5.3M |
| Sep 2025 | $32.1M | $176.6M | −$144.4M |
| Aug 2025 | $149.5M | $0 | $149.5M |
| Jul 2025 | $106.4M | $0 | $106.4M |
| Jun 2025 | $286.1M | $0 | $286.1M |
SUB Assets Under Management
Net assets of iShares Short-Term National Muni Bond ETF by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $11.26B |
| 2026-02-28 | $10.88B |
| 2025-11-30 | $10.09B |
| 2025-08-31 | $10.23B |
| 2025-05-31 | $9.59B |
| 2025-02-28 | $9.03B |
| 2024-11-30 | $8.71B |
| 2024-08-31 | $8.67B |
| 2024-05-31 | $8.67B |
| 2024-02-29 | $8.96B |
| 2023-11-30 | $8.99B |
| 2023-08-31 | $9.22B |
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.