GNMAvsMNBDETF Comparison
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iShares GNMA Bond ETF (GNMA) belongs to the MBS & ABS segment. ALPS Intermediate Municipal Bond ETF (MNBD) is part of the Municipal Bonds segment. GNMA's top 2 sector exposures are Industrials and Non-Corporate. In contrast, MNBD's top sector exposures are Municipal and Non-Corporate. GNMA is less expensive with a Total Expense Ratio (TER) of 0.11%, versus 0.44% for MNBD. GNMA is up 0.43% year-to-date (YTD) with +$42M in YTD flows. MNBD performs better with 0.76% YTD performance, and +$14M in YTD flows. Run a side-by-side ETF comparison of GNMA and MNBD 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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GNMA vs MNBD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | GNMA MNBD | +0.49%+0.09% | -0.60%-0.64% | +0.43%+0.76% | +3.12%+3.79% | +13.77%+10.99% | +1.97%n/a |
| Flows | GNMA MNBD | +$13M+$1M | +$13M+$2M | +$42M+$14M | +$71M+$16M | +$130M+$26M | -$6M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | GNMA MNBD | +4.53%+2.05% | +4.03%+1.99% | +5.69%+2.98% | +6.47%n/a |
| Max drawdown | GNMA MNBD | -1.84%-1.49% | -2.69%-2.27% | -5.77%-3.67% | -15.75%n/a |
| Max drawdown duration | GNMA MNBD | 63d56d | 183d183d | 89d270d | 1452dn/a |
Trading data
GNMA | MNBD | |
Last sale 9/1/2026 at 1:30 PM | $43.21 | $25.49 |
| Previous close 08/31/2026 | $43.55 | $25.54 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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MNBD
is actively managed and doesn’t replicate an indexGNMA | MNBD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
GNMA | MNBD | |
|---|---|---|
| Last price | $43.21 | $25.49 |
| 1D performance | -0.78% | -0.20% |
| AuM | $434.77 M | $56.89 M |
| E/R | 0.11% | 0.44% |
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Exposure
Countries
GNMA
USA
48.57%
Other
51.43%
MNBD
USA
44.9%
Other
55.1%
Sectors
GNMA
Industrials
38.88%
Non-Corporate
9.69%
Other
51.43%
MNBD
Municipal
44.77%
Other
55.23%
Diversification
GNMA
Total weight of top 15 holdings out of 15
35.18%
MNBD
Total weight of top 15 holdings out of 15
20.56%
Top 15 holdings
Data as of July 31, 2026
GNMA
BlackRock Cash Funds - Treasury
9.69%
G2 MA7192, 2% 20feb2051, USD (ABS)
2.75%
US3618N5XQ77
2.68%
US21H0426872
2.19%
US36179WTX64
2.02%
G2 MA8878, 5% 20may2053, USD (ABS)
1.77%
G2 MB0025, 5% 20nov2054, USD (ABS)
1.73%
US36179WJR07
1.72%
G2 MA8801, 5.5% 20apr2053, USD (ABS)
1.69%
G2 MA7880, 2% 20feb2052, USD (ABS)
1.69%
G2 MA6864, 2% 20sep2050, USD (ABS)
1.52%
US36179WLP13
1.49%
US36179WFG87
1.47%
US3617NWEY42
1.39%
US36179WVT25
1.36%
MNBD
US84136HCT86
1.90%
US685363AC70
1.80%
University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B)
1.65%
US64972GDC50
1.62%
Pennsylvania Turnpike Commission, 0% 1dec2037, USD (8799D)
1.53%
Freddie Mac Multifamily Variable Rate Certificates, FRN 25aug2041, USD
1.51%
US83712D4A17
1.51%
Salt Verde Financial Corp., 5% 1dec2032, USD (2007-1)
1.26%
US6582074E20
1.20%
Wyoming Community Development Authority, 3.5% 1jun2052, USD (2022)
1.15%
US01728LFH06
1.14%
San Mateo Union High School District, 0% 1sep2041, USD (2011A)
1.12%
Modesto Irrigation District, FRN 1sep2037, USD (2007F)
1.08%
US617877DB88
1.07%
Triborough Bridge and Tunnel Authority, 0% 15nov2039, USD (2022D-1B)
1.01%
Frequently asked questions about GNMA and MNBD
How have the GNMA and MNBD ETFs performed in 2026?
As of August 31, 2026, GNMA is up 0.43% year-to-date (YTD), while MNBD has returned 0.76%. That puts MNBD better performer ahead so far this year.
Which ETF is attracting more investor money: GNMA or MNBD?
Year-to-date, the GNMA ETF saw +$42M in flows, compared to +$14M for MNBD.
Which ETF is more volatile: GNMA or MNBD?
Over the past year, GNMA had a volatility of 4.03%, while MNBD experienced 1.99%.
Which ETF is bigger: GNMA or MNBD?
As of August 31, 2026, GNMA holds $434.77 M in assets under management (AUM), while MNBD manages $56.89 M.
What sectors do the GNMA and MNBD ETFs invest in?
GNMA leans toward sectors like Industrials and Non-Corporate. Meanwhile, MNBD focuses on Municipal.
What are the top holdings of the GNMA ETF and MNBD ETF?
GNMA top holdings include BlackRock Cash Funds - Treasury, G2 MA7192, 2% 20feb2051, USD (ABS) and US3618N5XQ77. MNBD holds in its top three: US84136HCT86, US685363AC70 and University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B).
Which ETF is more diversified: GNMA or MNBD?
GNMA holds 348 securities with 35.18% of its assets in the top 15. MNBD has 197 securities and a top 15 weight of 20.56%.
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