MUNIvsGNMAETF Comparison
VS
PIMCO Intermediate Municipal Bond Active ETF (MUNI) belongs to the Municipal Bonds segment. iShares GNMA Bond ETF (GNMA) is part of the MBS & ABS segment. MUNI's top 2 sector exposures are Municipal and Sovereign. In contrast, GNMA's top sector exposures are Industrials and Non-Corporate. MUNI is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.11% for GNMA. MUNI is down -1.75% year-to-date (YTD) with +$1.03B in YTD flows. GNMA performs better with -1.57% YTD performance, and +$36M in YTD flows. Run a side-by-side ETF comparison of MUNI and GNMA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
MUNI vs GNMA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUNI GNMA | -0.32%-0.43% | -3.04%-2.58% | -1.75%-1.57% | -1.03%-0.96% | +11.21%+16.04% | +3.29%+0.30% |
| Flows | MUNI GNMA | +$362M-$15M | +$474M+$7M | +$1.03B+$36M | +$1.27B+$69M | +$2.46B+$124M | +$2.90B-$12M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUNI GNMA | +4.44%+5.77% | +2.75%+4.51% | +3.19%+5.59% | +3.12%+6.56% |
| Max drawdown | MUNI GNMA | -5.13%-4.45% | -5.76%-5.36% | -5.76%-5.36% | -10.90%-15.48% |
| Max drawdown duration | MUNI GNMA | 92d51d | 228d228d | 228d228d | 975d1397d |
Trading data
MUNI | GNMA | |
Last sale 10/15/2026 at 1:30 PM | $50.38 | $42.26 |
| Previous close 10/15/2026 | $50.02 | $42.10 |
| 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 September 30, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
MUNI
is actively managed and doesn’t replicate an indexMUNI | GNMA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 10/15/2026 at 1:30 PM
Live
Closed
MUNI | GNMA | |
|---|---|---|
| Last price | $50.38 | $42.26 |
| 1D performance | +0.72% | +0.38% |
| AuM | $3.44 B | $416.54 M |
| E/R | 0.35% | 0.11% |
Advertisement
Exposure
Countries
MUNI
USA
46.28%
Other
53.72%
GNMA
USA
48.8%
Other
51.2%
Sectors
MUNI
Municipal
42.7%
Other
57.3%
GNMA
Industrials
39.92%
Non-Corporate
8.88%
Other
51.2%
Diversification
MUNI
Total weight of top 15 holdings out of 15
15.11%
GNMA
Total weight of top 15 holdings out of 15
33.91%
Top 15 holdings
Data as of August 31, 2026
MUNI
USA, Notes 4.25% 31jul2028, USD (BE-2028)
2.16%
US19648FJ880
1.18%
Black Belt Energy Gas District, 5% 1jan2034, USD (2026)
1.12%
US407287NG24
1.05%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
1.00%
Fort Bend Independent School District, FRN 1aug2055, USD (2025B)
0.97%
Puerto Rico Sales Tax Financing Corp., 0% 1jul2046, USD (10001D)
0.97%
US20775DL830
0.96%
US31350ADW53
0.85%
US67756AH960
0.84%
New York Transitional Finance Authority, FRN 1nov2042, USD (2014)
0.84%
New York Municipal Water Finance Authority, FRN 15jun2048, USD (2014)
0.84%
Aquarion Water Authority, 5.25% 1feb2033, USD (2026)
0.80%
US594654K382
0.79%
Kentucky Public Energy Authority, 5% 1may2036, USD (2025)
0.75%
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%
Frequently asked questions about MUNI and GNMA
How have the MUNI and GNMA ETFs performed in 2026?
As of October 15, 2026, MUNI is down -1.75% year-to-date (YTD), while GNMA has lost -1.57%. That puts GNMA better performer ahead so far this year.
Which ETF is attracting more investor money: MUNI or GNMA?
Year-to-date, the MUNI ETF saw +$1.03B in flows, compared to +$36M for GNMA.
Which ETF is more volatile: MUNI or GNMA?
Over the past year, MUNI had a volatility of 2.75%, while GNMA experienced 4.51%.
Which ETF is bigger: MUNI or GNMA?
As of October 15, 2026, MUNI holds $3.44 B in assets under management (AUM), while GNMA manages $416.54 M.
What sectors do the MUNI and GNMA ETFs invest in?
MUNI leans toward sectors like Municipal. Meanwhile, GNMA focuses on Industrials and Non-Corporate.
What are the top holdings of the MUNI ETF and GNMA ETF?
MUNI top holdings include USA, Notes 4.25% 31jul2028, USD (BE-2028), US19648FJ880 and Black Belt Energy Gas District, 5% 1jan2034, USD (2026). GNMA holds in its top three: BlackRock Cash Funds - Treasury, G2 MA7192, 2% 20feb2051, USD (ABS) and US3618N5XQ77.
Which ETF is more diversified: MUNI or GNMA?
MUNI holds 351 securities with 15.11% of its assets in the top 15. GNMA has 355 securities and a top 15 weight of 33.91%.
Advertisement
Advertisement
