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ETF comparison

SUB vs TLT

US Municipal Bond vs US Treasury (Long).

iShares Short-Term National Muni Bond ETF · iShares 20+ Year Treasury Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP
0.0 %

0 positions appear in both funds. Buying equal dollars of SUB and TLT would leave roughly 0.0% of each dollar exposed to the same underlying securities.

SUB unmatched 100.7% Shared 0.0% TLT unmatched 98.1%

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 SUB only
2,976 positions
Shared
0 positions
In TLT only
46 positions

Side by side

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%
TLT

iShares 20+ Year Treasury Bond ETF

iShares · US Treasury (Long)

83 composite / 100
Expense ratio
0.15%
Net assets
$47.52B
TTM yield
4.41%
Top-10 conc.
40.2%

Sub-score comparison

93
Cost
85
93
Tax efficiency
57
100
Liquidity
100
100
Concentration
N/A
—
Tracking quality
—
SUB sub-score TLT

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

Cost difference

SUB is 8 bps cheaper than TLT. On a $100,000 position that's about $80/yr more in fees for TLT.

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 SUB vs TLT.

Top shared holdings

0 shared in total

No shared holdings between these funds.

Only in SUB

2,976 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%

Only in TLT

46 total
  • United States of America 4.46%
  • United States of America 4.40%
  • United States of America 4.18%
  • United States of America 4.03%
  • United States of America 3.94%
  • United States of America 3.94%
  • United States of America 3.92%
  • United States of America 3.80%
  • United States of America 3.76%
  • United States of America 3.75%

Related comparisons

More comparisons with SUB

More comparisons with TLT

Percentages are holdings overlap with the named fund.

Open SUB or TLT 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.