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FMBvsSUBETF Comparison

ETF 1

FMB

First Trust Managed Municipal ETF

This fund is part of

Municipal Bonds

-0%

Full FMB fund page

VS

ETF 2

SUB

iShares Short-Term National Muni Bond ETF

This fund is part of

Municipal Bonds

-0%

Full SUB fund page

First Trust Managed Municipal ETF (FMB) and iShares Short-Term National Muni Bond ETF (SUB) belong to the same industry segment: Municipal Bonds. In contrast, SUB's top sector exposures are Municipal and Non-Corporate. FMB is more expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.07% for SUB. FMB is down -1.24% year-to-date (YTD) with +$108M in YTD flows. SUB performs better with 0.64% YTD performance, and +$2.50B in YTD flows. Run a side-by-side ETF comparison of FMB and SUB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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FMB vs SUB performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/15/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FMB SUB	-0.41%+0.09%	-3.90%-0.38%	-1.24%+0.64%	-0.62%+1.13%	+8.25%+9.28%	-1.82%+7.37%
Flows	FMB SUB	-$32M+$1.05B	+$990K+$1.51B	+$108M+$2.50B	+$152M+$2.84B	+$160M+$3.82B	-$66M+$6.63B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FMB SUB	+5.26%+1.90%	+3.28%+1.15%	+3.60%+1.17%	+3.53%+1.22%
Max drawdown	FMB SUB	-6.30%-1.94%	-6.73%-1.94%	-6.73%-1.94%	-13.95%-3.94%
Max drawdown duration	FMB SUB	88d52d	105d52d	105d52d	1501d771d

Trading data

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	FMB	SUB
Last sale 10/16/2026 at 1:30 PM	$48.68	$105.28
Previous close 10/15/2026	$48.65	$105.28
Consolidated volume 10/15/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 17, 2026

1-year trailing difference

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FMB

is actively managed and doesn’t replicate an index

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	FMB	SUB
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/16/2026 at 1:30 PM

Live

Closed

	FMB	SUB
Last price	$48.68	$105.28
1D performance	+0.06%	+0.00%
AuM	$1.96 B	$12.74 B
E/R	0.39%	0.07%

Characteristics

	FMB	SUB
Management strategy	Active	Passive
Provider	First Trust	iShares
Benchmark	-	ICE Short Maturity AMT-Free US National Municipal Index
N° of holdings	-	1169
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	May 13, 2014	November 5, 2008
ESG	No	No

More FMB data on Trackinsight

More SUB data on Trackinsight

Exposure

Countries

FMB

Data will be available soon

SUB

USA

46.89%

Other

53.11%

Sectors

FMB

Data will be available soon

SUB

Municipal

46.88%

Other

53.12%

Diversification

FMB

Data will be available soon

SUB

Total weight of top 15 holdings out of 15

3.97%

Top 15 holdings

Data as of January 1, 1970

FMB

Data will be available soon

SUB

US13063EUS35

0.44%

New Jersey Economic Development Authority, 5% 1mar2028, USD (2023)

0.36%

US64972JWP91

0.33%

New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023)

0.27%

US13063EDB92

0.26%

US89602RPH20

0.25%

Empire State Development Corp., 5% 15sep2028, USD (2022A)

0.25%

US91412HWB58

0.24%

US646140JM63

0.24%

California, 5% 1nov2027, USD

0.23%

California, 5% 1apr2029, USD

0.23%

US812643H643

0.23%

US373385QU02

0.22%

City of New York, FRN 1feb2056, USD (2026)

0.22%

US207758Y563

0.20%

Frequently asked questions about FMB and SUB

How have the FMB and SUB ETFs performed in 2026?

As of October 15, 2026, FMB is down -1.24% year-to-date (YTD), while SUB has returned 0.64%. That puts SUB better performer ahead so far this year.

Which ETF is attracting more investor money: FMB or SUB?

Year-to-date, the FMB ETF saw +$108M in flows, compared to +$2.50B for SUB.

Which ETF is more volatile: FMB or SUB?

Over the past year, FMB had a volatility of 3.28%, while SUB experienced 1.15%.

Which ETF is bigger: FMB or SUB?

As of October 15, 2026, FMB holds $1.96 B in assets under management (AUM), while SUB manages $12.74 B.

Investing in Municipal Bond ETFs

October 24, 2022

SUB

FMBvsSUBETF Comparison

First Trust Managed Municipal ETF

iShares Short-Term National Muni Bond ETF

FMB vs SUB performance and flow charts

Performance

Cumulative Flows

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Countries

Sectors

Diversification

Top 15 holdings

How have the FMB and SUB ETFs performed in 2026?

As of October 15, 2026, FMB is down -1.24% year-to-date (YTD), while SUB has returned 0.64%. That puts SUB better performer ahead so far this year.

Which ETF is attracting more investor money: FMB or SUB?

Year-to-date, the FMB ETF saw +$108M in flows, compared to +$2.50B for SUB.

Which ETF is more volatile: FMB or SUB?

Over the past year, FMB had a volatility of 3.28%, while SUB experienced 1.15%.

Which ETF is bigger: FMB or SUB?

As of October 15, 2026, FMB holds $1.96 B in assets under management (AUM), while SUB manages $12.74 B.

Investing in Municipal Bond ETFs

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