Which returned more over the last year, SMMU or SUB?

In the year to Oct 9, 2026, with distributions reinvested, SMMU returned +1.1% and SUB +0.8%.

Which is cheaper, SMMU or SUB?

SUB is cheaper, by 0.28 percentage points a year. That is about $28 on $10,000 held for a year. Fees come from each fund's prospectus.

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SMMU vs SUB: Differences, Returns & Fees

SMMU's duration was 1.7 years on Jun 30, 2026 and SUB's 1.8 on May 31, 2026; SUB charges 0.07% to SMMU's 0.35%. Net assets: $1.1bn on Jun 30, 2026 for PIMCO Short Term Municipal Bond Active Exchange-Traded Fund, and $12.3bn on Oct 9, 2026 for iShares Short-Term National Muni Bond ETF.

SUB costs 0.28 points a year less; their one-year returns differ by 0.3 points; SUB is 9.9 times larger.

	SMMU	SUB
Expense ratio	0.35%	0.07%
Net assets, as of Jun 30, 2026	$1.1bn	$11.4bn
Total return, 1 year	+1.1%	+0.8%
What it tracks	No index, actively managed	ICE Short Maturity AMT-Free US National Municipal Index
Holdings in common	1%

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

+1.1%

SMMU total return, 1 year

+0.8%

SUB total return, 1 year

0.35%

SMMU expense ratio

0.07%

SUB expense ratio

What they hold in common

By the books each fund has filed, SMMU and SUB hold 1% 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

1% in common

Positions both hold, largest shared weight first

Holding SMMU SUB

New Jersey Economic Development Authority, due Mar 1, 2028 0.20% 0.37%

State of New Jersey, due Jun 1, 2028 0.18% 0.17%

State of Illinois, due May 1, 2030 0.71% 0.10%

Long Island Power Authority, due Sep 1, 2055 0.34% 0.09%

City of San Antonio Electric & Gas Systems Revenue, due Feb 1, 2055 0.39% 0.09%

Nebraska Public Power District, due Jul 1, 2028 0.16% 0.08%

Dallas Independent School District, due Feb 15, 2055 0.64% 0.08%

New York City Transitional Finance Authority Future Tax Secured Revenue, due Nov 1, 2054 0.09% 0.06%

Dallas Fort Worth International Airport, due Nov 1, 2028 0.18% 0.06%

Chicago Midway International Airport, due Jan 1, 2029 0.18% 0.03%

Fort Bend Independent School District, due Aug 1, 2055 1.25% 0.03%

Denton Independent School District, due Aug 15, 2055 0.18% 0.03%

Only in SMMU

U.S. Treasury Notes, due Feb 29, 2028 2.24%

U.S. Treasury Notes, due Feb 28, 2031 1.81%

Connecticut State Health & Educational Facilities Authority, due Jul 1, 2057 1.75%

Federal Home Loan Bank Discount Notes, due Sep 4, 2026 1.68%

New York City Municipal Water Finance Authority, due Jun 15, 2050 1.34%

Tarrant County Cultural Education Facilities Finance Corp., due Nov 15, 2063 1.22%

U.S. Treasury Notes, due Apr 30, 2031 1.19%

Miami-Dade County Housing Finance Authority, due Feb 1, 2044 1.10%

Only in SUB

County of King, Series 2024, due Jan 1, 2042 0.35%

San Antonio Water System, Series 2025D, due May 1, 2055 0.28%

City of Seattle, Series 2023B, due Nov 1, 2046 0.27%

State of California, due Aug 1, 2029 0.27%

Empire State Development Corp., Series 2022A, due Sep 15, 2028 0.25%

Pennsylvania Turnpike Commission, Series 2023B, due Dec 1, 2043 0.25%

University of California, Series 2025CD, due May 15, 2030 0.25%

New Jersey Turnpike Authority, Series 2025B, due Jan 1, 2030 0.25%

Check overlap with more funds →

On the same fields

SMMU

PIMCO Short Term Municipal Bond Active Exchange-Traded Fund

SUB

iShares Short-Term National Muni Bond ETF

Where it sits Bond ETF Bond ETF

Issuer PIMCO iShares

What it is Actively managed Tracks an index

Total return, 1 year +1.1% +0.8%

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

Gap to the S&P 500 −16.1 pts −16.4 pts

Expense ratio 0.35% 0.07%

Holdings 348 3057

Net assets, SMMU as of Jun 30, 2026 and SUB as of Oct 9, 2026 $1.1bn $12.3bn

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

SMMU in plain words

SMMU is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +1.1% with distributions reinvested. The prospectus expense ratio is 0.35% a year.

SUB in plain words

SUB tracks an index. Over the year to Oct 9, 2026 it returned +0.8% with distributions reinvested. The prospectus expense ratio is 0.07% a year.

Questions people ask

Which returned more over the last year, SMMU or SUB?: In the year to Oct 9, 2026, with distributions reinvested, SMMU returned +1.1% and SUB +0.8%.
Which is cheaper, SMMU or SUB?: SUB is cheaper, by 0.28 percentage points a year. That is about $28 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

JMST vs SMMU SMMU vs VTES CGSM vs SMMU MEAR vs SMMU SUB vs TAFI MEAR vs SUB CGSM vs SUB SUB vs VTES

SMMU on its own →SUB on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

SMMU filings on SEC EDGAR ↗SMMU prospectus with the expense ratio (SEC) ↗PIMCO website ↗SUB filings on SEC EDGAR ↗SUB prospectus with the expense ratio (SEC) ↗iShares page for SUB ↗

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, SMMU against SUB, data as of Oct 9, 2026. https://etfiq.com/compare/any/smmu-vs-sub

Open data

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