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

In the year to Oct 28, 2026, with distributions reinvested, MUB returned −0.4% and SHV +3.6%.

Which is cheaper, MUB or SHV?

MUB is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

MUB vs SHV: Differences, Returns & Fees

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On Aug 31, 2026 MUB's duration was 7.0 years and SHV's 0.3; MUB charges 0.05% to SHV's 0.15%.

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Net assets on Oct 27, 2026: $54.1bn for iShares National Muni Bond ETF and $21.7bn for iShares 0-1 Year Treasury Bond ETF.

MUB on its own →SHV on its own →

At a glance

−0.4%

MUB total return, 1 year

+3.6%

SHV total return, 1 year

0.05%

MUB expense ratio

0.15%

SHV expense ratio

Pair scorecard

MUB costs 0.10 points a year less; their one-year returns differ by 4.0 points; MUB is 2.5 times larger.

MUB vs SHV: Differences, Returns & Fees
Measure	MUB	SHV
Return
Measure	MUB	SHV
Total return, 1 year	−0.4%	+3.6%
Benchmark
Measure	MUB	SHV
What it tracks	ICE AMT-Free US National Municipal Index	ICE Short US Treasury Securities Index
Cost and size
Measure	MUB	SHV
Expense ratio	0.05%	0.15%
Net assets, as of Oct 27, 2026	$54.1bn	$21.7bn
Holdings
Measure	MUB	SHV
Holdings in common	0%

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

What they share

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

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first MUB SHV

Only in one fund ↓

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%

Only in SHV

U.S. Treasury Bills, due Jan 14, 2027 4.95%

U.S. Treasury Bills, due Oct 29, 2026 4.53%

U.S. Treasury Bills, due Oct 13, 2026 3.86%

U.S. Treasury Bills, due Dec 15, 2026 3.60%

U.S. Treasury Bills, due Oct 27, 2026 3.56%

U.S. Treasury Bills, due Dec 22, 2026 3.55%

U.S. Treasury Bills, due Oct 1, 2026 3.37%

U.S. Treasury Bills, due Nov 12, 2026 3.33%

Check overlap with more funds →

Side by side

MUB iShares National Muni Bond ETF SHV iShares 0-1 Year Treasury Bond ETF

Where it sits Bond ETF Bond ETF

Issuer iShares iShares

What it is Tracks an index of National Muni Bond Tracks an index of 0-1 Year Treasury Bond

Total return, 1 year −0.4% +3.6%

Expense ratio 0.05% 0.15%

Holdings 7873 66

Net assets, as of Oct 27, 2026 $54.1bn $21.7bn

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

Alert

About each fund

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.

SHV

SHV tracks an index of 0-1 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +3.6% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

Questions people ask

Which returned more over the last year, MUB or SHV?: In the year to Oct 28, 2026, with distributions reinvested, MUB returned −0.4% and SHV +3.6%.
Which is cheaper, MUB or SHV?: MUB is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

MUB vs VUSB MUB vs SGOV MUB vs PULS MUB vs USFR SHV vs VTEB HYMB vs SHV SHV vs TLT SHV vs VCIT

Where to next

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

Sources and dates

MUB and SHV filings on SEC EDGAR ↗

MUB and SHV prospectus with the expense ratio (SEC) ↗

iShares page for MUB ↗

iShares page for SHV ↗

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 SHV, data as of Oct 28, 2026. https://etfiq.com/compare/any/mub-vs-shv

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