TMSFvsIUSBETF Comparison
VS
T. Rowe Price Multi-Sector Income ETF (TMSF) belongs to the Intl Aggregate Bonds segment. iShares Core Total USD Bond Market ETF (IUSB) is part of the US Aggregate Bonds segment. Both ETFs have the same top 3 sector exposures: Sovereign, Finance and Industrials. TMSF is more expensive with a Total Expense Ratio (TER) of 0.37%, versus 0.06% for IUSB. TMSF is up 2.79% year-to-date (YTD) with +$33M in YTD flows. IUSB performs worse with -0.25% YTD performance, and +$10.34B in YTD flows. Run a side-by-side ETF comparison of TMSF and IUSB 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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TMSF vs IUSB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMSF IUSB | +0.64%-0.08% | +0.65%-0.76% | +2.79%-0.25% | n/a+2.16% | n/a+14.53% | n/a+0.13% |
| Flows | TMSF IUSB | -+$805M | +$30M+$4.74B | +$33M+$10.34B | -+$10.65B | -+$21.92B | -+$31.62B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSF IUSB | +1.95%+3.70% | n/a+3.48% | n/a+4.72% | n/a+5.53% |
| Max drawdown | TMSF IUSB | -0.60%-1.61% | n/a-2.51% | n/a-4.33% | n/a-17.91% |
| Max drawdown duration | TMSF IUSB | 29d64d | n/a184d | n/a280d | n/a1492d |
Trading data
TMSF | IUSB | |
Last sale 9/2/2026 at 1:30 PM | $49.91 | $45.18 |
| Previous close 09/01/2026 | $49.88 | $45.15 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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TMSF
is actively managed and doesn’t replicate an indexTMSF | IUSB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
TMSF | IUSB | |
|---|---|---|
| Last price | $49.91 | $45.18 |
| 1D performance | +0.07% | +0.07% |
| AuM | $58.63 M | $43.55 B |
| E/R | 0.37% | 0.06% |
Characteristics
TMSF | IUSB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | T. Rowe Price | iShares |
| Benchmark | - | Bloomberg U.S. Universal Index |
| N° of holdings | 223 | 16284 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | June 10, 2014 |
| ESG | No | No |
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Exposure
Countries
TMSF
USA
57.54%
Other
42.46%
IUSB
USA
73.5%
Other
26.5%
Sectors
TMSF
Sovereign
21.68%
Finance
16.5%
Other
61.81%
IUSB
Sovereign
43.13%
Finance
13.46%
Other
43.41%
Diversification
TMSF
Total weight of top 15 holdings out of 15
21.01%
IUSB
Total weight of top 15 holdings out of 15
9.25%
Top 15 holdings
Data as of July 31, 2026
TMSF
USA, Notes 4% 31may2028, USD (BC-2028)
5.14%
USA, TIPS 1.875% 15jan2036, USD (A-2036)
4.14%
US87283Q8832
2.11%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
1.47%
Mexico, Bonos 8.5% 28feb2030, MXN
1.34%
Colombia, 5.375% 21jan2029, USD
1.03%
USA, Bonds 5% 15may2046, USD
0.72%
Brazil, 6.625% 15mar2035, USD
0.71%
USA, Bonds 5% 15may2056, USD
0.68%
Ecuador, 8.75% 29jan2034, USD
0.68%
Paraguay, 2.739% 29jan2033, USD
0.64%
Carvana, 14% 1jun2031, USD
0.63%
Afreximbank, 6.25% 23jan2032, USD
0.62%
JP Morgan, 0.5% 15jun2027, USD (A, Conv.)
0.56%
Civitas Resources, 9.625% 15jun2033, USD
0.54%
IUSB
BlackRock Liquidity TempCash
4.35%
US01F0206874
0.42%
USA, Notes 4.375% 31dec2029, USD (AH-2029)
0.38%
USA, Notes 4.375% 15may2036, USD (C-2036)
0.37%
USA, Notes 4% 15feb2034, USD (B-2034)
0.37%
USA, Notes 4.625% 15feb2035, USD (B-2035)
0.35%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.35%
USA, Notes 4.375% 15may2034, USD (C-2034)
0.34%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.34%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.34%
USA, Notes 3.875% 15aug2034, USD (E-2034)
0.34%
USA, Notes 4.25% 15may2035, USD (C-2035)
0.33%
USA, Notes 2.75% 15aug2032, USD (E-2032)
0.33%
USA, Notes 4% 15nov2035, USD (F-2035)
0.33%
US01F0426811
0.31%
Frequently asked questions about TMSF and IUSB
How have the TMSF and IUSB ETFs performed in 2026?
As of August 31, 2026, TMSF is up 2.79% year-to-date (YTD), while IUSB has lost -0.25%. That puts TMSF better performer ahead so far this year.
Which ETF is attracting more investor money: TMSF or IUSB?
Year-to-date, the TMSF ETF saw +$33M in flows, compared to +$10.34B for IUSB.
Which ETF is bigger: TMSF or IUSB?
As of August 31, 2026, TMSF holds $58.63 M in assets under management (AUM), while IUSB manages $43.55 B.
What sectors do the TMSF and IUSB ETFs invest in?
TMSF leans toward sectors like Sovereign and Finance. Meanwhile, IUSB focuses on Sovereign and Finance.
What are the top holdings of the TMSF ETF and IUSB ETF?
TMSF top holdings include USA, Notes 4% 31may2028, USD (BC-2028), USA, TIPS 1.875% 15jan2036, USD (A-2036) and US87283Q8832. IUSB holds in its top three: BlackRock Liquidity TempCash, US01F0206874 and USA, Notes 4.375% 31dec2029, USD (AH-2029).
Which ETF is more diversified: TMSF or IUSB?
TMSF holds 286 securities with 21.01% of its assets in the top 15. IUSB has 18026 securities and a top 15 weight of 9.25%.
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