Data as of Oct 28, 2026.
MUB vs PVAL: Differences, Returns & Fees
Over the year to Oct 28, 2026, MUB returned −0.4% to PVAL's +26.6%; 0% of their weight is in the same names.
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Net assets: $54.1bn on Oct 27, 2026 for iShares National Muni Bond ETF, and $14.1bn on Aug 31, 2026 for Putnam Focused Large Cap Value ETF.
Pair scorecard
MUB costs 0.50 points a year less; their one-year returns differ by 27.0 points.
| Measure | MUB | PVAL |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.4% | +26.6% |
| Benchmark | ||
| What it tracks | ICE AMT-Free US National Municipal Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.05% | 0.55% |
| Net assets, MUB as of Oct 27, 2026 and PVAL as of Aug 31, 2026 | $54.1bn | $14.1bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 91% | |
| Top ten holdings, share of the fund | 42.8% | |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
What they share
By the books each fund has filed, MUB and PVAL hold 0% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
MUB and PVAL on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
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.
Over the year to Oct 28, 2026 it returned +26.6% with distributions reinvested, against +27.5% for its benchmark, the Russell 1000 Value Index.
PVAL is actively managed and tracks no index. The prospectus expense ratio is 0.55% a year. By its holdings filed for Aug 31, 2026, 91% of the fund by weight is stocks the S&P 500 also holds, across 44 positions, with the top ten at 42.8%.
Questions people ask
- Which returned more over the last year, MUB or PVAL?
- In the year to Oct 28, 2026, with distributions reinvested, MUB returned −0.4% and PVAL +26.6%.
- Which is cheaper, MUB or PVAL?
- MUB is cheaper, by 0.50 percentage points a year. That is about $50 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, MUB against PVAL, data as of Oct 28, 2026. https://etfiq.com/compare/any/mub-vs-pval
ETFIQ. (Oct 28, 2026). MUB against PVAL. Retrieved from https://etfiq.com/compare/any/mub-vs-pval
[MUB against PVAL (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/mub-vs-pval)
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