Which returned more over the last year, GOVT or MUB?

In the year to Oct 28, 2026, with distributions reinvested, GOVT returned −1.5% and MUB −0.4%.

Which is cheaper, GOVT or MUB?

Neither: GOVT and MUB both charge 0.05% a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

GOVT vs MUB: Differences, Returns & Fees

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GOVT's duration was 5.5 years on Jul 31, 2026 and MUB's 7.0 on Aug 31, 2026; both charge 0.05%.

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Net assets on Oct 27, 2026: $42.8bn for iShares U.S. Treasury Bond ETF and $54.1bn for iShares National Muni Bond ETF.

GOVT on its own →MUB on its own →

At a glance

−1.5%

GOVT total return, 1 year

−0.4%

MUB total return, 1 year

0.05%

GOVT expense ratio

0.05%

MUB expense ratio

Pair scorecard

Both cost 0.05% a year; their one-year returns differ by 1.1 points; MUB is 1.3 times larger.

GOVT vs MUB: Differences, Returns & Fees
Measure	GOVT	MUB
Return
Measure	GOVT	MUB
Total return, 1 year	−1.5%	−0.4%
Drawdown
Measure	GOVT	MUB
Below its high	8.1%, high on Aug 4, 2020
Benchmark
Measure	GOVT	MUB
What it tracks	ICE U.S. Treasury Core Bond Index	ICE AMT-Free US National Municipal Index
Cost and size
Measure	GOVT	MUB
Expense ratio	0.05%	0.05%
Net assets, as of Oct 27, 2026	$42.8bn	$54.1bn
Holdings
Measure	GOVT	MUB
Holdings in common	0%

Holdings in common uses holdings dated Jul 31, 2026 and Aug 31, 2026. Method

What they share

By the books each fund has filed, GOVT and MUB hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Aug 31, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GOVT MUB

Only in one fund ↓

Only in GOVT

U.S. Treasury Notes, due Nov 15, 2031 5.28%

U.S. Treasury Notes, due Feb 15, 2029 2.95%

U.S. Treasury Notes, due Feb 15, 2028 2.63%

U.S. Treasury Notes, due Nov 15, 2028 2.08%

U.S. Treasury Notes, due May 15, 2028 1.62%

U.S. Treasury Bonds, due May 15, 2046 1.48%

U.S. Treasury Bonds, due Nov 15, 2042 1.46%

U.S. Treasury Bonds, due Feb 15, 2051 1.46%

Only in MUB

Board of Regents of the University of Texas System, Series 2025B, due Aug 15, 2036 0.18%

San Antonio Water System, Series 2025D, due May 1, 2055 0.15%

New York State Thruway Authority, Series 2022A, due Mar 15, 2048 0.15%

New York State Dormitory Authority, Series 2019D, due Feb 15, 2047 0.13%

Northwest Independent School District, Series 2025, due Feb 15, 2055 0.12%

Houston Higher Education Finance Corp., Series 2024, due May 15, 2034 0.12%

State of New Jersey, Series 2020A, due Jun 1, 2028 0.12%

Ohio State University (The), Series 2026A, due Jun 1, 2035 0.12%

Check overlap with more funds →

Side by side

GOVT iShares U.S. Treasury Bond ETF MUB iShares National Muni Bond ETF

Where it sits Bond ETF Bond ETF

Issuer iShares iShares

What it is Tracks an index of U.S. Treasury Bond Tracks an index of National Muni Bond

Total return, 1 year −1.5% −0.4%

Expense ratio 0.05% 0.05%

Holdings 229 7873

Net assets, as of Oct 27, 2026 $42.8bn $54.1bn

GOVT and MUB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

GOVT

GOVT tracks an index of U.S. Treasury Bond. Over the year to Oct 28, 2026 it returned −1.5% with distributions reinvested. The prospectus expense ratio is 0.05% a year. It sat 8.1% below its high of Aug 4, 2020 on Oct 28, 2026.

MUB

MUB tracks an index of National Muni Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested.

Questions people ask

Which returned more over the last year, GOVT or MUB?: In the year to Oct 28, 2026, with distributions reinvested, GOVT returned −1.5% and MUB −0.4%.
Which is cheaper, GOVT or MUB?: Neither: GOVT and MUB both charge 0.05% a year. Fees come from each fund's prospectus.

Other comparisons

GOVT vs VTEB GOVT vs HYMB GOVT vs MINT GOVT vs TIP IEF vs MUB MUB vs VGIT MUB vs VGSH JAAA vs MUB

Where to next

GOVT on its own →MUB on its own →Hold both: look the portfolio through →Rankings →GOVT dividend history →GOVT holdings →MUB dividend history →MUB holdings →Standards and sources →

Sources and dates

GOVT and MUB filings on SEC EDGAR ↗

GOVT prospectus with the expense ratio (SEC) ↗

iShares page for GOVT ↗

MUB prospectus with the expense ratio (SEC) ↗

iShares page for MUB ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, GOVT against MUB, data as of Oct 28, 2026. https://etfiq.com/compare/any/govt-vs-mub

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.