TMNSvsMBBETF Comparison
VS
T. Rowe Price Short Municipal Income ETF (TMNS) belongs to the Municipal Bonds segment. iShares MBS ETF (MBB) is part of the MBS & ABS segment. TMNS's top 1 sector exposures are Municipal. In contrast, MBB's top sector exposures are Industrials, Non-Corporate and Finance. TMNS is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.04% for MBB. TMNS is up 0% year-to-date (YTD) with +$1M in YTD flows. MBB performs worse with -2.24% YTD performance, and -$1.13B in YTD flows. Run a side-by-side ETF comparison of TMNS and MBB 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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TMNS vs MBB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/13/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMNS MBB | -0.66%-0.88% | -1.44%-2.69% | +0.00%-2.24% | n/a-1.59% | n/a+16.48% | n/a-1.08% |
| Flows | TMNS MBB | -$1M-$2.65B | +$1M-$2.00B | +$1M-$1.13B | --$4.39B | -+$9.63B | -+$14.72B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNS MBB | +2.61%+5.61% | n/a+4.59% | n/a+5.73% | n/a+6.66% |
| Max drawdown | TMNS MBB | -2.76%-4.27% | n/a-5.38% | n/a-5.38% | n/a-16.94% |
| Max drawdown duration | TMNS MBB | 49d50d | n/a227d | n/a227d | n/a1405d |
Trading data
TMNS | MBB | |
Last sale 10/14/2026 at 1:30 PM | $48.93 | $90.76 |
| Previous close 10/14/2026 | $48.96 | $90.00 |
| Consolidated volume 10/14/2026 | ||
| 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
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TMNS
is actively managed and doesn’t replicate an indexTMNS | MBB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/14/2026 at 1:30 PM
Live
Closed
TMNS | MBB | |
|---|---|---|
| Last price | $48.93 | $90.76 |
| 1D performance | -0.07% | +0.84% |
| AuM | $22.00 M | $35.76 B |
| E/R | 0.18% | 0.04% |
Characteristics
TMNS | MBB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | T. Rowe Price | iShares |
| Benchmark | - | Bloomberg U.S. MBS Index |
| N° of holdings | 58 | 1237 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | March 13, 2007 |
| ESG | No | No |
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Exposure
Countries
TMNS
USA
29.18%
Other
70.82%
MBB
USA
28.44%
Other
71.56%
Sectors
TMNS
Municipal
29.18%
Other
70.82%
MBB
Industrials
20.61%
Non-Corporate
7.6%
Other
71.79%
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Diversification
TMNS
Total weight of top 15 holdings out of 15
25.29%
MBB
Total weight of top 15 holdings out of 15
16.82%
Top 15 holdings
Data as of August 31, 2026
TMNS
US23503CFK80
2.22%
US735240L842
2.13%
New York Housing Finance Agency, FRN 1may2049, USD
2.11%
US09182TCG04
1.87%
California Community Choice Financing Authority, 5.5% 1oct2054, USD (2023F)
1.82%
US650116DJ25
1.78%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.67%
US735389D620
1.67%
US546068AZ00
1.55%
Illinois Toll Highway Authority, 5% 1jan2031, USD
1.55%
US425507GL89
1.44%
US64988YQ831
1.40%
US04052FDU66
1.38%
Puerto Rico, 5.75% 1jul2031, USD
1.37%
US187145WS29
1.35%
MBB
BlackRock Cash Funds - Institutional
7.60%
US01F0526982
1.26%
US21H0526945
1.05%
FR SD8146, 2% 1may2051, USD (ABS)
0.98%
US01F0506927
0.87%
US21H0606978
0.63%
G2 MB0025, 5% 20nov2054, USD (ABS)
0.55%
US21H0506988
0.55%
G2 MA7648, 2% 20oct2051, USD (ABS)
0.51%
US36179WTX64
0.50%
FN MA4492, 2% 1dec2051, USD (ABS)
0.49%
US36179WJR07
0.48%
US21H0426955
0.48%
FR SD8140, 2% 1apr2051, USD (ABS)
0.47%
FN MA4465, 2% 1nov2051, USD (ABS)
0.42%
Frequently asked questions about TMNS and MBB
How have the TMNS and MBB ETFs performed in 2026?
As of October 13, 2026, TMNS is up 0% year-to-date (YTD), while MBB has lost -2.24%. That puts TMNS better performer ahead so far this year.
Which ETF is attracting more investor money: TMNS or MBB?
Year-to-date, the TMNS ETF saw +$1M in flows, compared to -$1.13B for MBB.
Which ETF is bigger: TMNS or MBB?
As of October 13, 2026, TMNS holds $22.00 M in assets under management (AUM), while MBB manages $35.76 B.
What sectors do the TMNS and MBB ETFs invest in?
TMNS leans toward sectors like Municipal. Meanwhile, MBB focuses on Industrials and Non-Corporate.
What are the top holdings of the TMNS ETF and MBB ETF?
TMNS top holdings include US23503CFK80, US735240L842 and New York Housing Finance Agency, FRN 1may2049, USD. MBB holds in its top three: BlackRock Cash Funds - Institutional, US01F0526982 and US21H0526945.
Which ETF is more diversified: TMNS or MBB?
TMNS holds 208 securities with 25.29% of its assets in the top 15. MBB has 9405 securities and a top 15 weight of 16.82%.
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Latest news about TMNS & MBB
The Weekly ETF Market Monitor (September 28-October 2, 2026)
October 2, 2026
MBB
NYSE x ETF Central ETF Education Series
March 5, 2024
MBB
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