MUSTvsPREFETF Comparison
VS
ETF 2
PREF
Principal Spectrum Preferred Securities Active ETF
Columbia Multi-Sector Municipal Income ETF (MUST) belongs to the Municipal Bonds segment. Principal Spectrum Preferred Securities Active ETF (PREF) is part of the segment. MUST's top 2 sector exposures are Municipal and Non-Corporate. In contrast, PREF's top sector exposures are Finance, Utilities and Energy. MUST is less expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.55% for PREF. MUST is up 0.02% year-to-date (YTD) with +$78M in YTD flows. PREF performs better with 2.17% YTD performance, and +$495M in YTD flows. Run a side-by-side ETF comparison of MUST and PREF 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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MUST vs PREF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MUST PREF | -0.24%+0.45% | -0.78%+0.66% | +0.02%+2.17% | +4.05%+4.82% | +10.66%+29.13% | +1.85%+15.34% |
| Flows | MUST PREF | +$8M+$113M | +$9M+$405M | +$78M+$495M | +$121M+$622M | +$251M+$1.20B | +$497M+$1.49B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MUST PREF | +2.59%+1.50% | +2.44%+1.86% | +4.13%+2.34% | +3.84%+3.91% |
| Max drawdown | MUST PREF | -2.11%-0.73% | -3.10%-2.22% | -5.55%-3.65% | -13.29%-16.83% |
| Max drawdown duration | MUST PREF | 53d52d | 180d90d | 186d59d | 1471d1025d |
Trading data
MUST | PREF | |
Last sale 8/28/2026 at 1:30 PM | $20.10 | $18.87 |
| Previous close 08/27/2026 | $20.14 | $18.87 |
| Consolidated volume 08/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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PREF
is actively managed and doesn’t replicate an indexMUST | PREF | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 8/28/2026 at 1:30 PM
Live
Closed
MUST | PREF | |
|---|---|---|
| Last price | $20.10 | $18.87 |
| 1D performance | -0.20% | +0.00% |
| AuM | $596.76 M | $1.89 B |
| E/R | 0.23% | 0.55% |
Characteristics
MUST | PREF | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Columbia Threadneedle Investments | Principal Global Investors |
| Benchmark | Beta Advantage Multi-Sector Municipal Bond Index | - |
| N° of holdings | 293 | 158 |
| Asset class | Fixed Income | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 10, 2018 | July 10, 2017 |
| ESG | No | No |
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Exposure
Countries
MUST
USA
43.22%
Other
56.78%
PREF
USA
62.89%
Canada
23.27%
Other
13.84%
Sectors
MUST
Municipal
43.09%
Other
56.91%
PREF
Finance
64.64%
Utilities
16.73%
Energy
11.07%
Other
7.56%
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Diversification
MUST
Total weight of top 15 holdings out of 15
6.31%
PREF
Total weight of top 15 holdings out of 15
27.41%
Top 15 holdings
Data as of July 31, 2026
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 Metropolitan Transportation Authority, 4% 15nov2035, USD (2017C-1)
0.43%
New York Transportation Development Corp., 4.375% 1oct2045, USD (2020)
0.43%
US67766WM740
0.42%
Illinois Toll Highway Authority, 5% 1jan2038, USD (2024)
0.39%
Chicago O'Hare International Airport, 5% 1jan2048, USD
0.38%
US46247SFR04
0.38%
US64972GJ217
0.38%
New Jersey Turnpike Authority, 5% 1jan2036, USD
0.38%
US48504NCC11
0.37%
US73358XHU90
0.37%
US88285AJH23
0.37%
PREF
Bank of America Corp.
2.68%
Enbridge, 8.5% 15jan2084, USD (2023-B)
2.40%
Metlife, 5.85% 15mar2056, USD
2.37%
Toronto-Dominion Bank, 8.125% 31oct2082, USD (3)
2.05%
JP Morgan, 6.5% perp., USD (OO)
1.94%
Bank of Nova Scotia, 8.625% 27oct2082, USD (4)
1.82%
PNC Financial Services Group, 6.25% perp., USD (W)
1.81%
M&T Bank, 3.5% perp., USD (I)
1.68%
US808513CM57
1.65%
Wells Fargo, 6.85% perp., USD (FF)
1.59%
Bank of America Corporation, 6.625% perp., USD (OO)
1.56%
Truist Financial, 6.25% perp., USD (S)
1.49%
Prudential Financial, 3.7% 1oct2050, USD
1.47%
Electricite de France (EDF), 9.125% perp., USD
1.46%
Bank of Nova Scotia, 6.875% 27oct2085, USD (7)
1.44%
Frequently asked questions about MUST and PREF
How have the MUST and PREF ETFs performed in 2026?
As of August 28, 2026, MUST is up 0.02% year-to-date (YTD), while PREF has returned 2.17%. That puts PREF better performer ahead so far this year.
Which ETF is attracting more investor money: MUST or PREF?
Year-to-date, the MUST ETF saw +$78M in flows, compared to +$495M for PREF.
Which ETF is more volatile: MUST or PREF?
Over the past year, MUST had a volatility of 2.44%, while PREF experienced 1.86%.
Which ETF is bigger: MUST or PREF?
As of August 28, 2026, MUST holds $596.76 M in assets under management (AUM), while PREF manages $1.89 B.
What sectors do the MUST and PREF ETFs invest in?
MUST leans toward sectors like Municipal. Meanwhile, PREF focuses on Finance, Utilities and Energy.
What are the top holdings of the MUST ETF and PREF ETF?
MUST top holdings include Miami-Dade, 5% 1oct2036, USD (2024A), US249182QF65 and New Jersey Turnpike Authority, 5% 1jan2034, USD (2025). PREF holds in its top three: Bank of America Corp., Enbridge, 8.5% 15jan2084, USD (2023-B) and Metlife, 5.85% 15mar2056, USD.
Which ETF is more diversified: MUST or PREF?
MUST holds 647 securities with 6.31% of its assets in the top 15. PREF has 160 securities and a top 15 weight of 27.41%.
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