GNMAvsMUSTETF Comparison
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iShares GNMA Bond ETF (GNMA) belongs to the MBS & ABS segment. Columbia Multi-Sector Municipal Income ETF (MUST) is part of the Municipal Bonds segment. GNMA's top 2 sector exposures are Industrials and Non-Corporate. In contrast, MUST's top sector exposures are Municipal and Non-Corporate. GNMA is less expensive with a Total Expense Ratio (TER) of 0.11%, versus 0.23% for MUST. GNMA is down -1.93% year-to-date (YTD) with +$36M in YTD flows. MUST performs worse with -3.08% YTD performance, and +$22M in YTD flows. Run a side-by-side ETF comparison of GNMA and MUST 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 MUST performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | GNMA MUST | -1.10%-0.30% | -2.60%-4.02% | -1.93%-3.08% | -1.77%-2.43% | +17.90%+11.23% | +0.13%-0.46% |
| Flows | GNMA MUST | -$15M-$34M | +$7M-$48M | +$36M+$22M | +$69M+$60M | +$124M+$183M | -$12M+$424M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | GNMA MUST | +5.81%+5.80% | +4.51%+3.53% | +5.56%+4.30% | +6.56%+4.03% |
| Max drawdown | GNMA MUST | -4.45%-6.83% | -5.36%-8.13% | -5.36%-8.13% | -15.48%-13.14% |
| Max drawdown duration | GNMA MUST | 55d91d | 232d232d | 232d232d | 1397d1351d |
Trading data
GNMA | MUST | |
Last sale 10/19/2026 at 1:30 PM | $42.10 | $19.48 |
| Previous close 10/19/2026 | $42.27 | $19.55 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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GNMA | MUST | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
GNMA | MUST | |
|---|---|---|
| Last price | $42.10 | $19.48 |
| 1D performance | -0.40% | -0.36% |
| AuM | $415.03 M | $518.59 M |
| E/R | 0.11% | 0.23% |
Characteristics
GNMA | MUST | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Columbia Threadneedle Investments |
| Benchmark | Bloomberg U.S. GNMA Bond Index | Beta Advantage Multi-Sector Municipal Bond Index |
| N° of holdings | 109 | 293 |
| Asset class | Bonds | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 14, 2012 | October 10, 2018 |
| ESG | No | No |
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Exposure
Countries
GNMA
USA
48.8%
Other
51.2%
MUST
USA
43.37%
Other
56.63%
Sectors
GNMA
Industrials
39.92%
Non-Corporate
8.88%
Other
51.2%
MUST
Municipal
43.03%
Other
56.97%
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Diversification
GNMA
Total weight of top 15 holdings out of 15
33.91%
MUST
Total weight of top 15 holdings out of 15
6.31%
Top 15 holdings
Data as of August 31, 2026
GNMA
BlackRock Cash Funds - Treasury
8.88%
G2 MA7192, 2% 20feb2051, USD (ABS)
2.59%
US3618N5XQ77
2.51%
G2 MA9360, 4.5% 20dec2053, USD (ABS)
2.42%
US21H0526945
1.97%
US36179WTX64
1.90%
G2 MA8878, 5% 20may2053, USD (ABS)
1.67%
G2 MB0025, 5% 20nov2054, USD (ABS)
1.64%
US36179WJR07
1.62%
G2 MA7880, 2% 20feb2052, USD (ABS)
1.59%
G2 MA8801, 5.5% 20apr2053, USD (ABS)
1.59%
G2 MA6864, 2% 20sep2050, USD (ABS)
1.44%
US36179WLP13
1.40%
US36179WFG87
1.38%
US3617NWEY42
1.32%
MUST
Miami-Dade, 5% 1oct2036, USD (2024A)
0.54%
US249182QF65
0.53%
New Jersey Turnpike Authority, 5% 1jan2034, USD (2025)
0.48%
US64985SDE00
0.46%
New York Transportation Development Corp., 4.375% 1oct2045, USD (2020)
0.43%
New York Metropolitan Transportation Authority, 4% 15nov2035, USD (2017C-1)
0.43%
US67766WM740
0.42%
Illinois Toll Highway Authority, 5% 1jan2038, USD (2024)
0.38%
US46247SFR04
0.38%
New Jersey Turnpike Authority, 5% 1jan2036, USD
0.38%
US48504NCC11
0.38%
US64972GJ217
0.38%
Chicago O'Hare International Airport, 5% 1jan2048, USD
0.38%
US88285AJH23
0.37%
US73358XHU90
0.37%
Frequently asked questions about GNMA and MUST
How have the GNMA and MUST ETFs performed in 2026?
As of October 19, 2026, GNMA is down -1.93% year-to-date (YTD), while MUST has lost -3.08%. That puts GNMA better performer ahead so far this year.
Which ETF is attracting more investor money: GNMA or MUST?
Year-to-date, the GNMA ETF saw +$36M in flows, compared to +$22M for MUST.
Which ETF is more volatile: GNMA or MUST?
Over the past year, GNMA had a volatility of 4.51%, while MUST experienced 3.53%.
Which ETF is bigger: GNMA or MUST?
As of October 19, 2026, GNMA holds $415.03 M in assets under management (AUM), while MUST manages $518.59 M.
What sectors do the GNMA and MUST ETFs invest in?
GNMA leans toward sectors like Industrials and Non-Corporate. Meanwhile, MUST focuses on Municipal.
What are the top holdings of the GNMA ETF and MUST ETF?
GNMA top holdings include BlackRock Cash Funds - Treasury, G2 MA7192, 2% 20feb2051, USD (ABS) and US3618N5XQ77. MUST holds in its top three: Miami-Dade, 5% 1oct2036, USD (2024A), US249182QF65 and New Jersey Turnpike Authority, 5% 1jan2034, USD (2025).
Which ETF is more diversified: GNMA or MUST?
GNMA holds 355 securities with 33.91% of its assets in the top 15. MUST has 647 securities and a top 15 weight of 6.31%.
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