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FSMBvsSUBETF Comparison

ETF 1

FSMB

First Trust Short Duration Managed Municipal ETF

This fund is part of

Municipal Bonds

-0%

Full FSMB 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 Short Duration Managed Municipal ETF (FSMB) 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. FSMB is more expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.07% for SUB. FSMB is up 1.23% year-to-date (YTD) with +$150M in YTD flows. SUB performs worse with 0.64% YTD performance, and +$2.50B in YTD flows. Run a side-by-side ETF comparison of FSMB 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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FSMB 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 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FSMB SUB	-0.11%+0.09%	-0.86%-0.38%	+1.23%+0.64%	+1.37%+1.13%	+8.09%+9.28%	+4.26%+7.37%
Flows	FSMB SUB	+$31M+$1.05B	+$37M+$1.51B	+$150M+$2.50B	+$175M+$2.84B	+$250M+$3.82B	+$492M+$6.63B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FSMB SUB	+2.49%+1.90%	+1.58%+1.15%	+1.68%+1.17%	+1.64%+1.22%
Max drawdown	FSMB SUB	-2.71%-1.94%	-2.71%-1.94%	-2.71%-1.94%	-5.98%-3.94%
Max drawdown duration	FSMB SUB	64d52d	64d52d	64d52d	1149d771d

Trading data

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	FSMB	SUB
Last sale 10/16/2026 at 7:49 PM	$19.64	$105.27
Previous close 10/16/2026	$19.62	$105.28
Consolidated volume 10/16/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 19, 2026

1-year trailing difference

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FSMB

is actively managed and doesn’t replicate an index

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	FSMB	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 7:49 PM

Live

Closed

	FSMB	SUB
Last price	$19.64	$105.27
1D performance	+0.08%	-0.01%
AuM	$649.27 M	$12.74 B
E/R	0.34%	0.07%

Characteristics

	FSMB	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	November 1, 2018	November 5, 2008
ESG	No	No

More FSMB data on Trackinsight

More SUB data on Trackinsight

Exposure

Countries

FSMB

Data will be available soon

SUB

USA

46.89%

Other

53.11%

Sectors

FSMB

Data will be available soon

SUB

Municipal

46.88%

Other

53.12%

Diversification

FSMB

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

FSMB

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 FSMB and SUB

How have the FSMB and SUB ETFs performed in 2026?

As of October 16, 2026, FSMB is up 1.23% year-to-date (YTD), while SUB has returned 0.64%. That puts FSMB better performer ahead so far this year.

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

Year-to-date, the FSMB ETF saw +$150M in flows, compared to +$2.50B for SUB.

Which ETF is more volatile: FSMB or SUB?

Over the past year, FSMB had a volatility of 1.58%, while SUB experienced 1.15%.

Which ETF is bigger: FSMB or SUB?

As of October 16, 2026, FSMB holds $649.27 M in assets under management (AUM), while SUB manages $12.74 B.

Investing in Municipal Bond ETFs

October 24, 2022

SUB

FSMBvsSUBETF Comparison

First Trust Short Duration Managed Municipal ETF

iShares Short-Term National Muni Bond ETF

FSMB vs SUB performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FSMB and SUB ETFs performed in 2026?

As of October 16, 2026, FSMB is up 1.23% year-to-date (YTD), while SUB has returned 0.64%. That puts FSMB better performer ahead so far this year.

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

Year-to-date, the FSMB ETF saw +$150M in flows, compared to +$2.50B for SUB.

Which ETF is more volatile: FSMB or SUB?

Over the past year, FSMB had a volatility of 1.58%, while SUB experienced 1.15%.

Which ETF is bigger: FSMB or SUB?

As of October 16, 2026, FSMB holds $649.27 M in assets under management (AUM), while SUB manages $12.74 B.

Investing in Municipal Bond ETFs

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