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ETF comparison

MUNI vs SUB

Both US Municipal Bond.

PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund · iShares Short-Term National Muni Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
0.5 %

13 positions appear in both funds. Buying equal dollars of MUNI and SUB would leave roughly 0.5% of each dollar exposed to the same underlying securities.

MUNI unmatched 98.2% Shared 0.5% SUB unmatched 100.3%

Unmatched is the part of a fund's weight the other fund doesn't match: names only it holds, plus any extra weight it puts in names both funds hold.

In MUNI only
633 positions
Shared
13 positions
In SUB only
2,963 positions

Side by side

MUNI

PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund

PIMCO · US Municipal Bond

80 composite / 100
Expense ratio
0.35%
Net assets
$3.70B
TTM yield
3.03%
Top-10 conc.
10.7%
SUB

iShares Short-Term National Muni Bond ETF

iShares · US Municipal Bond

96 composite / 100
Expense ratio
0.070%
Net assets
$13.29B
TTM yield
2.36%
Top-10 conc.
2.7%

Sub-score comparison

65
Cost
93
93
Tax efficiency
93
81
Liquidity
100
99
Concentration
100
—
Tracking quality
—
MUNI sub-score SUB

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

SUB is 28 bps cheaper than MUNI. On a $100,000 position that's about $280/yr more in fees for MUNI.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with MUNI vs SUB.

Top shared holdings

13 shared in total
# Holding In MUNI In SUB Overlap
1 State of Illinois 0.24% 0.09% 0.09%
2 City of San Antonio TX Electric & Gas Systems Revenue 0.37% 0.09% 0.09%
3 City of New York NY 0.16% 0.08% 0.08%
4 North Texas Tollway Authority 0.15% 0.05% 0.05%
5 Fort Bend Independent School District 0.79% 0.03% 0.03%
6 Illinois State Toll Highway Authority 0.09% 0.03% 0.03%
7 Grand Parkway Transportation Corp 0.17% 0.02% 0.02%
8 Central Texas Turnpike System 0.12% 0.02% 0.02%
9 State of North Carolina 0.15% 0.01% 0.01%
10 State of Connecticut 0.09% 0.01% 0.01%
11 Orlando Utilities Commission 0.11% 0.01% 0.01%
12 New Jersey Economic Development Authority 0.03% 0.01% 0.01%

Only in MUNI

633 total
  • United States Treasury 2.20%
  • United States Treasury 1.78%
  • United States Treasury 1.16%
  • United States Treasury 0.86%
  • Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.81%
  • Connecticut State Health & Educational Facilities Authority 0.81%
  • Black Belt Energy Gas District 0.81%
  • Texas Municipal Gas Acquisition & Supply Corp V 0.80%
  • FHLMC Multifamily VRD Certificates 0.71%
  • Michigan State Housing Development Authority 0.70%

Only in SUB

2,963 total
  • New Jersey Economic Development Authority 0.35%
  • New York City Transitional Finance Authority Future Tax Secured 0.33%
  • State of California 0.28%
  • New York City Municipal Water Finance Authority 0.27%
  • State of California 0.26%
  • Triborough Bridge & Tunnel Authority 0.25%
  • Empire State Development Corp. 0.24%
  • University of California 0.24%
  • New Jersey Turnpike Authority 0.24%
  • State of California 0.23%

Related comparisons

More comparisons with MUNI

More comparisons with SUB

Percentages are holdings overlap with the named fund.

Open MUNI or SUB at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.