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

In the year to Oct 9, 2026, with distributions reinvested, MUB returned −2.0% and TFI −2.7%.

Which is cheaper, MUB or TFI?

MUB is cheaper, by 0.18 percentage points a year. That is about $18 on $10,000 held for a year. Fees come from each fund's prospectus.

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MUB vs TFI: Differences, Returns & Fees

MUB's duration was 6.3 years on May 31, 2026 and TFI's 6.0 on Jun 30, 2026; MUB charges 0.05% to TFI's 0.23%. Net assets: $48.9bn on Oct 9, 2026 for iShares National Muni Bond ETF, and $2.8bn on Oct 8, 2026 for State Street SPDR Nuveen ICE Municipal Bond ETF.

MUB costs 0.18 points a year less; their one-year returns differ by 0.7 points; MUB is 17.0 times larger.

	MUB	TFI
Expense ratio	0.05%	0.23%
Net assets, as of Oct 8, 2026	$48.2bn	$2.8bn
Total return, 1 year	−2.0%	−2.7%
What it tracks	ICE AMT-Free US National Municipal Index	ICE 1+ Year AMT-Free Broad Municipal Index ?
Holdings in common	6%
Below its high	5.3%, high on Jul 6, 2026	6.2%, high on Jul 19, 2021

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.

−2.0%

MUB total return, 1 year

−2.7%

TFI total return, 1 year

0.05%

MUB expense ratio

0.23%

TFI expense ratio

What they hold in common

By the books each fund has filed, MUB and TFI hold 6% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Jun 30, 2026.

50%

half

6% in common

Positions both hold, largest shared weight first

Holding MUB TFI

Foothill-Eastern Transportation Corridor Agency, Series 2021A, due Jan 15, 2046 0.08% 0.10%

District of Columbia Income Tax, Series 2022A, due Jul 1, 2047 0.07% 0.12%

Commonwealth of Massachusetts, Series 2024B, due May 1, 2054 0.11% 0.07%

Chicago Transit Authority Sales Tax Receipts Fund, Series 2024A, due Dec 1, 2049 0.11% 0.07%

California Educational Facilities Authority, Series V-5, due Mar 1, 2055 0.07% 0.10%

State of Michigan Trunk Line, Series 2020B, due Nov 15, 2045 0.06% 0.11%

New York State Thruway Authority, Series 2019B, due Jan 1, 2045 0.06% 0.16%

Metropolitan Transportation Authority, Series 2020C-1, due Nov 15, 2050 0.06% 0.06%

City of New York, Series 2022B-1, due Aug 1, 2029 0.06% 0.17%

Empire State Development Corp., Series 2020A, due Mar 15, 2049 0.09% 0.06%

Metropolitan Transportation Authority, Series 2024B, due Nov 15, 2039 0.06% 0.06%

New York State Dormitory Authority, Series 2015E, due Mar 15, 2035 0.05% 0.06%

Only in MUB

Board of Regents of the University of Texas System, Series 2025B, due Aug 15, 2036 0.19%

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

San Antonio Water System, Series 2025D, due May 1, 2055 0.14%

Triborough Bridge & Tunnel Authority, Series 2005B-2, due Jan 1, 2032 0.14%

New York City Transitional Finance Authority Future Tax Secured, Series 2019C-4, due Nov 1, 2044 0.13%

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

Houston Higher Education Finance Corp., Series 2024, due May 15, 2034 0.13%

State of New Jersey, Series 2020A, due Jun 1, 2028 0.13%

Only in TFI

CALIFORNIA ST, due Nov 1, 2027 0.23%

WASHINGTON ST, due Feb 1, 2028 0.20%

MADISON WI, due Oct 1, 2032 0.20%

GEORGIA ST, due Jul 1, 2030 0.19%

MARYLAND ST, due Jun 1, 2034 0.19%

MARYLAND ST DEPT OF TRANSPRTN CONSOL TRANSPRTN, due Oct 1, 2034 0.19%

OHIO ST, due Nov 1, 2034 0.18%

RICHMOND CNTY GA BRD OF EDU, due Oct 1, 2027 0.18%

Check overlap with more funds →

On the same fields

MUB

iShares National Muni Bond ETF

TFI

State Street SPDR Nuveen ICE Municipal Bond ETF

Where it sits Bond ETF Bond ETF

Issuer iShares State Street

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

Total return, 1 year −2.0% −2.7%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −19.3 pts −19.9 pts

Expense ratio 0.05% 0.23%

Holdings 7448 1990

Net assets, MUB as of Oct 9, 2026 and TFI as of Oct 8, 2026 $48.9bn $2.8bn

MUB and TFI on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

MUB in plain words

MUB tracks an index of National Muni Bond. Over the year to Oct 9, 2026 it returned −2.0% with distributions reinvested. The prospectus expense ratio is 0.05% a year. It sat 5.3% below its high of Jul 6, 2026 on Oct 9, 2026.

TFI in plain words

TFI tracks an index. Over the year to Oct 9, 2026 it returned −2.7% with distributions reinvested. The prospectus expense ratio is 0.23% a year. It sat 6.2% below its high of Jul 19, 2021 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, MUB or TFI?: In the year to Oct 9, 2026, with distributions reinvested, MUB returned −2.0% and TFI −2.7%.
Which is cheaper, MUB or TFI?: MUB is cheaper, by 0.18 percentage points a year. That is about $18 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

MUB vs TAFM MUB vs VTEB FLMI vs MUB MUB vs VCRM TFI vs VTEB FLMI vs TFI TFI vs VCRM FMB vs TFI

MUB on its own →TFI on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

MUB filings on SEC EDGAR ↗MUB prospectus with the expense ratio (SEC) ↗iShares page for MUB ↗TFI filings on SEC EDGAR ↗TFI prospectus with the expense ratio (SEC) ↗State Street website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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 TFI, data as of Oct 9, 2026. https://etfiq.com/compare/any/mub-vs-tfi

Open data

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