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

In the year to Oct 28, 2026, with distributions reinvested, JAAA returned +4.7% and MUB −0.4%.

Which is cheaper, JAAA or MUB?

MUB is cheaper, by 0.15 percentage points a year. That is about $15 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

JAAA vs MUB: Differences, Returns & Fees

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JAAA's duration was 0.0 years on Jul 31, 2026 and MUB's 7.0 on Aug 31, 2026; MUB charges 0.05% to JAAA's 0.20%.

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Net assets: $32.5bn on Oct 28, 2026 for Janus Henderson AAA CLO ETF, and $54.1bn on Oct 27, 2026 for iShares National Muni Bond ETF.

JAAA on its own →MUB on its own →

At a glance

+4.7%

JAAA total return, 1 year

−0.4%

MUB total return, 1 year

0.20%

JAAA expense ratio

0.05%

MUB expense ratio

Pair scorecard

MUB costs 0.15 points a year less; their one-year returns differ by 5.1 points; MUB is 1.7 times larger.

JAAA vs MUB: Differences, Returns & Fees
Measure	JAAA	MUB
Return
Measure	JAAA	MUB
Total return, 1 year	+4.7%	−0.4%
Benchmark
Measure	JAAA	MUB
What it tracks	No index, actively managed	ICE AMT-Free US National Municipal Index
Cost and size
Measure	JAAA	MUB
Expense ratio	0.20%	0.05%
Net assets, as of Oct 27, 2026	$32.5bn	$54.1bn
Holdings
Measure	JAAA	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, JAAA 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 JAAA MUB

Only in one fund ↓

Only in JAAA

KKR CLO 35 Ltd., Series 35A, Class AR, due Jan 20, 2038 0.85%

AB BSL CLO 1 Ltd., Series 2020-1A, Class A1R2, due Oct 15, 2038 0.78%

Anchorage Capital CLO 16 Ltd., Series 2020-16A, Class A1R2, due Jan 19, 2038 0.73%

Palmer Square CLO Ltd., Series 2018-2A, Class A1R2, due Apr 16, 2037 0.68%

Ares LXI CLO Ltd., Series 2021-61A, Class A1R2, due Apr 20, 2037 0.68%

Carlyle US CLO Ltd., Series 2021-8A, Class A1R, due Oct 15, 2038 0.62%

WISE CLO Ltd., Series 2024-1A, Class AR, due Apr 15, 2037 0.62%

Magnetite XXXII Ltd., Series 2022-32A, Class AR, due Oct 15, 2037 0.60%

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

JAAA Janus Henderson AAA CLO ETF MUB iShares National Muni Bond ETF

Where it sits Bond ETF Bond ETF

Issuer Janus Henderson iShares

What it is Actively managed Tracks an index of National Muni Bond

Total return, 1 year +4.7% −0.4%

Expense ratio 0.20% 0.05%

Holdings 598 7873

Net assets, JAAA as of Oct 28, 2026 and MUB as of Oct 27, 2026 $32.5bn $54.1bn

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

Alert

About each fund

JAAA

JAAA is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +4.7% with distributions reinvested. The prospectus expense ratio is 0.20% a year.

MUB

MUB tracks an index of National Muni Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.05% a year.

Questions people ask

Which returned more over the last year, JAAA or MUB?: In the year to Oct 28, 2026, with distributions reinvested, JAAA returned +4.7% and MUB −0.4%.
Which is cheaper, JAAA or MUB?: MUB is cheaper, by 0.15 percentage points a year. That is about $15 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

JAAA vs VTEB HYMB vs JAAA JAAA vs TLT JAAA vs MBB EMB vs MUB MUB vs VBIL MUB vs PFF MUB vs VUSB

Where to next

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

Sources and dates

JAAA filings on SEC EDGAR ↗

JAAA prospectus with the expense ratio (SEC) ↗

Janus Henderson page for JAAA ↗

MUB filings on SEC EDGAR ↗

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

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