MFLXvsMUBETF Comparison
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First Trust Flexible Municipal High Income ETF (MFLX) and iShares National Muni Bond ETF (MUB) belong to the same industry segment: Municipal Bonds. In contrast, MUB's top sector exposures are Municipal and Non-Corporate. MFLX is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.05% for MUB. MFLX is down -0.83% year-to-date (YTD) with +$3M in YTD flows. MUB performs worse with -2.03% YTD performance, and +$11.48B in YTD flows. Run a side-by-side ETF comparison of MFLX and MUB 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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MFLX vs MUB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MFLX MUB | -1.03%-0.14% | -5.09%-3.29% | -0.83%-2.03% | -0.26%-1.45% | +16.03%+6.25% | -4.93%-2.01% |
| Flows | MFLX MUB | -+$6.47B | -+$7.36B | +$3M+$11.48B | +$3M+$13.13B | +$8M+$16.57B | +$4M+$30.97B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MFLX MUB | +6.52%+5.07% | +4.21%+3.19% | +4.84%+3.67% | +5.54%+3.58% |
| Max drawdown | MFLX MUB | -7.53%-5.73% | -7.87%-6.40% | -7.87%-6.40% | -24.25%-11.55% |
| Max drawdown duration | MFLX MUB | 88d92d | 101d102d | 101d102d | 1747d1488d |
Trading data
MFLX | MUB | |
Last sale 10/16/2026 at 1:30 PM | $16.11 | $102.35 |
| Previous close 10/15/2026 | $16.14 | $102.48 |
| 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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MFLX
is actively managed and doesn’t replicate an indexMFLX | MUB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
MFLX | MUB | |
|---|---|---|
| Last price | $16.11 | $102.35 |
| 1D performance | -0.15% | -0.13% |
| AuM | $20.25 M | $51.05 B |
| E/R | 0.49% | 0.05% |
Characteristics
MFLX | MUB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | iShares |
| Benchmark | - | ICE AMT-Free US National Municipal Index |
| N° of holdings | - | 3823 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 27, 2016 | September 7, 2007 |
| ESG | No | No |
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Exposure
Countries
MFLX
Data will be available soon
MUB
USA
56.95%
Other
43.05%
Sectors
MFLX
Data will be available soon
MUB
Municipal
56.94%
Other
43.06%
Diversification
MFLX
Data will be available soon
MUB
Total weight of top 15 holdings out of 15
1.93%
Top 15 holdings
Data as of January 1, 1970
MFLX
Data will be available soon
MUB
University of Texas, 5% 15aug2036, USD (2025B)
0.19%
US79642GTU66
0.15%
US650028ZA41
0.15%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
0.13%
Houston Higher Education Finance Corp., 5% 15may2034, USD (2024)
0.13%
New Jersey, 5% 1jun2028, USD
0.13%
Northwest Independent School District, 5.25% 15feb2055, USD (2025)
0.13%
Ohio State University, 5% 1jun2035, USD (2026)
0.12%
California, 5% 1sep2031, USD
0.12%
US93974EVY93
0.12%
Illinois, 5% 1nov2027, USD (2017D)
0.11%
East AWP Joint Powers Authority, 3.125% 1sep2026, USD (2024A)
0.11%
Chicago Transit Authority, 5% 1dec2049, USD (2024A)
0.11%
US812643ZK32
0.11%
US44244CN944
0.11%
Frequently asked questions about MFLX and MUB
How have the MFLX and MUB ETFs performed in 2026?
As of October 15, 2026, MFLX is down -0.83% year-to-date (YTD), while MUB has lost -2.03%. That puts MFLX better performer ahead so far this year.
Which ETF is attracting more investor money: MFLX or MUB?
Year-to-date, the MFLX ETF saw +$3M in flows, compared to +$11.48B for MUB.
Which ETF is more volatile: MFLX or MUB?
Over the past year, MFLX had a volatility of 4.21%, while MUB experienced 3.19%.
Which ETF is bigger: MFLX or MUB?
As of October 15, 2026, MFLX holds $20.25 M in assets under management (AUM), while MUB manages $51.05 B.
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Latest news about MFLX & MUB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
MUB
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September 2, 2025
MUB
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January 22, 2025
MUB
A Look at Vanguard's New Short-Term Tax-Exempt Bond ETF
April 21, 2023
MUB
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Investing in Municipal Bond ETFs
October 24, 2022
MUB
Investing in Municipal Bond ETFs
October 24, 2022
MUB
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