Data as of Oct 28, 2026.
MUB vs QQQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, MUB returned −0.4% to QQQ's +15.2%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $54.1bn for iShares National Muni Bond ETF and $483.0bn for Invesco QQQ Trust, Series 1.
Pair scorecard
MUB costs 0.13 points a year less; their one-year returns differ by 15.6 points; QQQ is 8.9 times larger.
| Measure | MUB | QQQ |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.4% | +15.2% |
| Drawdown | ||
| Below its high | 4.5%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | ICE AMT-Free US National Municipal Index | Nasdaq-100 Index |
| Cost and size | ||
| Expense ratio | 0.05% | 0.18% |
| Net assets, as of Oct 27, 2026 | $54.1bn | $483.0bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 96% | |
| Top ten holdings, share of the fund | 46.7% | |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Sep 21, 2007 to Oct 23, 2026 · 996 weekly returnsQQQ returned more: +1,529.3% to +76.1%. MUB swung less: 6.5% to 20.5%. MUB fell less at its worst: −12.4% to −51.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | MUB | QQQ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +76.1% | +1,529.3% | QQQ | Price change plus distributions, reinvested. |
| Annualized | +3.0% | +15.7% | QQQ | Total return as a yearly rate. |
| Price return | +3.4% | +1,298.7% | QQQ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 6.5% | 20.5% | MUB | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 4.7% | 13.9% | MUB | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −12.4% | −51.4% | MUB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.26 | 0.74 | QQQ | Return above Treasury bills per unit of volatility. |
| Sortino | 0.36 | 1.09 | QQQ | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.24 | 0.30 | QQQ | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 996 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, MUB and QQQ hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
MUB and QQQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
MUB and QQQ do different jobs. What does each one do in a portfolio?
- What each follows. MUB follows ICE AMT-Free US National Municipal Index and QQQ follows Nasdaq-100 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 MUB returned −0.4% and QQQ +15.2% with distributions reinvested, a gap of 15.6 points.
Data as of Oct 28, 2026.
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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.
QQQ
QQQ tracks the Nasdaq-100. Over the year to Oct 28, 2026 it returned +15.2% with distributions reinvested, against +15.2% for its benchmark, the Nasdaq-100 Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 103 positions, with the top ten at 46.7%. It sat 4.5% below its high of Oct 6, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, MUB or QQQ?
- In the year to Oct 28, 2026, with distributions reinvested, MUB returned −0.4% and QQQ +15.2%.
- Which is cheaper, MUB or QQQ?
- MUB is cheaper, by 0.13 percentage points a year. That is about $13 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.
Cite this pageCitation, APA and Markdown
ETFIQ, MUB against QQQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/mub-vs-qqq
ETFIQ. (Oct 28, 2026). MUB against QQQ. Retrieved from https://etfiq.com/compare/any/mub-vs-qqq
[MUB against QQQ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/mub-vs-qqq)
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