MNBDvsSUBETF Comparison
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ALPS Intermediate Municipal Bond ETF (MNBD) and iShares Short-Term National Muni Bond ETF (SUB) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 2 sector exposures: Municipal and Non-Corporate. MNBD is more expensive with a Total Expense Ratio (TER) of 0.44%, versus 0.07% for SUB. MNBD is down -1.14% year-to-date (YTD) with +$14M in YTD flows. SUB performs better with 0.64% YTD performance, and +$2.50B in YTD flows. Run a side-by-side ETF comparison of MNBD 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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MNBD vs SUB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MNBD SUB | -0.21%+0.09% | -2.59%-0.38% | -1.14%+0.64% | -0.43%+1.13% | +10.99%+9.28% | n/a+7.37% |
| Flows | MNBD SUB | +$8K+$1.05B | +$666K+$1.51B | +$14M+$2.50B | +$15M+$2.84B | +$25M+$3.82B | -+$6.63B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MNBD SUB | +4.40%+1.90% | +2.76%+1.15% | +3.13%+1.17% | n/a+1.22% |
| Max drawdown | MNBD SUB | -4.77%-1.94% | -5.40%-1.94% | -5.40%-1.94% | n/a-3.94% |
| Max drawdown duration | MNBD SUB | 89d52d | 229d52d | 229d52d | n/a771d |
Trading data
MNBD | SUB | |
Last sale 10/16/2026 at 1:30 PM | $25.00 | $105.28 |
| Previous close 10/15/2026 | $24.99 | $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 18, 2026
1-year trailing difference
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MNBD
is actively managed and doesn’t replicate an indexMNBD | SUB | |
|---|---|---|
| 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
MNBD | SUB | |
|---|---|---|
| Last price | $25.00 | $105.28 |
| 1D performance | +0.08% | +0.00% |
| AuM | $55.04 M | $12.74 B |
| E/R | 0.44% | 0.07% |
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Exposure
Countries
MNBD
USA
46.14%
Other
53.86%
SUB
USA
46.89%
Other
53.11%
Sectors
MNBD
Municipal
45.97%
Other
54.03%
SUB
Municipal
46.88%
Other
53.12%
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Diversification
MNBD
Total weight of top 15 holdings out of 15
19.63%
SUB
Total weight of top 15 holdings out of 15
3.97%
Top 15 holdings
Data as of August 31, 2026
MNBD
US84136HCT86
1.86%
University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B)
1.62%
Tarrant Cultural Education Facilities Finance Corp., FRN 15nov2063, USD (2026A&B)
1.58%
Pennsylvania Turnpike Commission, 0% 1dec2037, USD (8799D)
1.50%
Freddie Mac Multifamily Variable Rate Certificates, FRN 25aug2041, USD
1.48%
US83712D4A17
1.48%
Salt Verde Financial Corp., 5% 1dec2032, USD (2007-1)
1.24%
New York Dormitory Authority, 4% 15feb2047, USD (2019D)
1.22%
US6582074E20
1.18%
Wyoming Community Development Authority, 3.5% 1jun2052, USD (2022)
1.13%
US01728LFH06
1.10%
San Mateo Union High School District, 0% 1sep2041, USD (2011A)
1.08%
Modesto Irrigation District, FRN 1sep2037, USD (2007F)
1.06%
US57584Y8C61
1.05%
US451295ZZ58
1.05%
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 MNBD and SUB
How have the MNBD and SUB ETFs performed in 2026?
As of October 16, 2026, MNBD is down -1.14% year-to-date (YTD), while SUB has returned 0.64%. That puts SUB better performer ahead so far this year.
Which ETF is attracting more investor money: MNBD or SUB?
Year-to-date, the MNBD ETF saw +$14M in flows, compared to +$2.50B for SUB.
Which ETF is more volatile: MNBD or SUB?
Over the past year, MNBD had a volatility of 2.76%, while SUB experienced 1.15%.
Which ETF is bigger: MNBD or SUB?
As of October 16, 2026, MNBD holds $55.04 M in assets under management (AUM), while SUB manages $12.74 B.
What sectors do the MNBD and SUB ETFs invest in?
MNBD leans toward sectors like Municipal. Meanwhile, SUB focuses on Municipal.
What are the top holdings of the MNBD ETF and SUB ETF?
MNBD top holdings include US84136HCT86, University of North Carolina at Chapel Hill, 4.005% 1dec2041, USD (2012B) and Tarrant Cultural Education Facilities Finance Corp., FRN 15nov2063, USD (2026A&B). SUB holds in its top three: US13063EUS35, New Jersey Economic Development Authority, 5% 1mar2028, USD (2023) and US64972JWP91.
Which ETF is more diversified: MNBD or SUB?
MNBD holds 198 securities with 19.63% of its assets in the top 15. SUB has 2884 securities and a top 15 weight of 3.97%.
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