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MFLXvsSUBETF Comparison

ETF 1

MFLX

First Trust Flexible Municipal High Income ETF

This fund is part of

Municipal Bonds

+0.67%

Full MFLX fund page

VS

ETF 2

SUB

iShares Short-Term National Muni Bond ETF

This fund is part of

Municipal Bonds

+0.67%

Full SUB fund page

First Trust Flexible Municipal High Income ETF (MFLX) 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. MFLX is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.07% for SUB. MFLX is down -1.8% year-to-date (YTD) with +$3M in YTD flows. SUB performs better with 0.62% YTD performance, and +$2.44B in YTD flows. Run a side-by-side ETF comparison of MFLX 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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MFLX 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 10/14/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	MFLX SUB	-2.33%+0.04%	-6.07%-0.46%	-1.80%+0.62%	-0.98%+1.15%	+14.90%+9.26%	-5.99%+7.35%
Flows	MFLX SUB	-+$1.05B	-+$1.45B	+$3M+$2.44B	+$3M+$2.78B	+$8M+$3.76B	+$4M+$6.62B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	MFLX SUB	+6.17%+1.90%	+4.10%+1.15%	+4.81%+1.17%	+5.52%+1.22%
Max drawdown	MFLX SUB	-7.53%-1.94%	-7.87%-1.94%	-7.87%-1.94%	-24.25%-3.95%
Max drawdown duration	MFLX SUB	87d51d	100d51d	100d51d	1746d772d

Trading data

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	MFLX	SUB
Last sale 10/15/2026 at 1:30 PM	$16.14	$105.28
Previous close 10/15/2026	$15.97	$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 16, 2026

1-year trailing difference

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MFLX

is actively managed and doesn’t replicate an index

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

Main metrics

Last update 10/15/2026 at 1:30 PM

Live

Closed

	MFLX	SUB
Last price	$16.14	$105.28
1D performance	+1.03%	-0.00%
AuM	$20.06 M	$12.68 B
E/R	0.49%	0.07%

Characteristics

	MFLX	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	September 27, 2016	November 5, 2008
ESG	No	No

More MFLX data on Trackinsight

More SUB data on Trackinsight

Exposure

Countries

MFLX

Data will be available soon

SUB

USA

46.89%

Other

53.11%

Sectors

MFLX

Data will be available soon

SUB

Municipal

46.88%

Other

53.12%

Diversification

MFLX

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

MFLX

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 MFLX and SUB

How have the MFLX and SUB ETFs performed in 2026?

As of October 14, 2026, MFLX is down -1.8% year-to-date (YTD), while SUB has returned 0.62%. That puts SUB better performer ahead so far this year.

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

Year-to-date, the MFLX ETF saw +$3M in flows, compared to +$2.44B for SUB.

Which ETF is more volatile: MFLX or SUB?

Over the past year, MFLX had a volatility of 4.1%, while SUB experienced 1.15%.

Which ETF is bigger: MFLX or SUB?

As of October 14, 2026, MFLX holds $20.06 M in assets under management (AUM), while SUB manages $12.68 B.

Investing in Municipal Bond ETFs

October 24, 2022

SUB

MFLXvsSUBETF Comparison

First Trust Flexible Municipal High Income ETF

iShares Short-Term National Muni Bond ETF

MFLX 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 MFLX and SUB ETFs performed in 2026?

As of October 14, 2026, MFLX is down -1.8% year-to-date (YTD), while SUB has returned 0.62%. That puts SUB better performer ahead so far this year.

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

Year-to-date, the MFLX ETF saw +$3M in flows, compared to +$2.44B for SUB.

Which ETF is more volatile: MFLX or SUB?

Over the past year, MFLX had a volatility of 4.1%, while SUB experienced 1.15%.

Which ETF is bigger: MFLX or SUB?

As of October 14, 2026, MFLX holds $20.06 M in assets under management (AUM), while SUB manages $12.68 B.

Investing in Municipal Bond ETFs

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