SUB's largest holdings are BlackRock Liquidity Funds MuniCash, CALIFORNIA (STATE OF), New Jersey (State of) Economic Development Authority, Triborough Bridge & Tunnel Authority, Bay Area Toll Authority. The full top list is on this page.

How concentrated is SUB?

The top 10 holdings are 4.9% of the fund, across 3,059 positions.

The total expense ratio on record is 0.07%. That is cheaper than 87% of the 865 US-listed bond funds we track.

US-listed · United States

SUB

iShares Short-Term National Muni Bond ETF

US4642881589 · BlackRock (iShares)

3,059 holdings as of 2026-10-12 · top 10 = 4.9% · TER 0.07%

Add to portfolioStart with this fund, then add the others you hold.

Concentration

Well diversifiedtop 10 = 4.9%

diversifiedconcentrated

GROWTH · PRICE DEVELOPMENTrebased to 0%

Holdings

3,059

as of 2026-10-12

Top 10

4.9%

TER

0.07%

cheaper than 87% of peers

Net assets

US$12.5B

reported in USD

Largest

2.4%

P / E

–

Sections

Holdings as of 2026-10-12.

01Overview

the fund's regulatory facts

Fund currency

USD

Domicile

United States

Volatility 1Y

1.6%

Tracked index

ICE Short Maturity AMT-Free US National Municipal Index

02Performance

market price return · as of 2026-10-27

+1.5%

-0.1%

-0.6%

YTD

-0.7%

-0.5%

Trackingfund minus ICE Short Maturity AMT-Free US National Municipal Index · annualised

1Y return gap

-0.06 pp/yr

3Y return gap

-0.10 pp/yr

5Y return gap

-0.08 pp/yr

3Y tracking error

0.08%

A positive return gap means the fund finished ahead of the index over that window. The 3Y tracking error shows how variable that monthly gap was; lower means steadier tracking. MethodologyReturn gap and tracking errorReturn gap is the fund's return minus its index over the same months, converted to a yearly rate. Tracking error is the annualised standard deviation of those monthly fund-minus-index returns. Both lines come from the manager's own chart, in the same currency and the exact index variant the fund tracks. We use month-end values so different intraday valuation times are not mistaken for tracking error.. Not investment advice.

03Holdings

50 largest · as of 2026-10-12

#	Company	Identifier	Weight
1	BlackRock Liquidity Funds MuniCash US	MCSXX	2.4
2	CALIFORNIA (STATE OF) US	US13063EUS35	0.4
3	New Jersey (State of) Economic Development Authority US	US64577XEQ51	0.3
4	Triborough Bridge & Tunnel Authority US	US89602RPH20	0.3
5	Bay Area Toll Authority US	US072024WY47	0.3
6	California (State of) US	US13063EDB92	0.2
7	New York State Urban Development Corp. US	US650036FA94	0.2
8	University of California US	US91412HWB58	0.2
9	New Jersey (State of) Turnpike Authority US	US646140JM63	0.2
10	California (State of) US	US13063DZ921	0.2
11	California (State of) US	US13063DN877	0.2
12	State of Texas US	TXS	0.2
13	GEORGIA ST US	US373385QU02	0.2
14	MARYLAND ST US	US574193XA10	0.2
15	New York City Transitional Finance Authority Future Tax Secured US	US64972JWP91	0.2
16	New Jersey Educational Facilities Authority US	US646067KD94	0.2
17	SEATTLE WASH MUN LT & PWR REV US	US812643H643	0.2
18	Massachusetts (Commonwealth of) US	US57582NUZ67	0.2
19	State of Connecticut Special Tax Revenue US	US207758Y563	0.2
20	New York City Transitional Finance Authority Future Tax Secured Revenue US	US64972JYW25	0.2
21	County of King WA Sewer Revenue US	US495290ET12	0.2
22	City of New York NY US	US64966SPX89	0.2
23	New Jersey Turnpike Authority US	US646140JN47	0.2
24	Ohio (State of) Water Development Authority US	US67765QFY70	0.2
25	State of New Jersey US	NJS	0.2
26	Pennsylvania (Commonwealth of) US	US70914PL838	0.2
27	New York (City of), NY Transitional Finance Authority US	US64972JJL35	0.2
28	Commonwealth of Pennsylvania US	US70914PK434	0.2
29	Connecticut State Health & Educational Facilities Authority US	US20775DZS43	0.2
30	State of Georgia US	US373385KA02	0.2
31	Kentucky State Property & Building Commission US	US49151F6Y16	0.2
32	San Antonio Water System US	US79642GTU66	0.2
33	LOUISIANA (STATE OF) US	US546417MH63	0.2
34	Minnesota Public Facilities Authority State Revolving Fund US	US604115DT96	0.2
35	Washington (State of) US	US93974EB889	0.2
36	State of Washington US	US93974FHD87	0.2
37	Board of Governors of Colorado State University System US	US196707Y498	0.2
38	CALIFORNIA ST US	US13063ESW74	0.2
39	Los Angeles Department of Water & Power US	US544532QE75	0.2
40	Houston (City of), TX US	US442331K860	0.2
41	New Jersey Educational Facilities Authority US	US646067EJ39	0.2
42	ILLINOIS ST US	ILS	0.2
43	New Jersey (State of) US	US646039YM35	0.2
44	State of Washington US	US93974EUU80	0.2
45	University of California US	US91412HTP81	0.2
46	New York State Dormitory Authority US	US64990AWC51	0.2
47	Virginia (Commonwealth of) College Building Authority (21st Century College and Equipment Programs) US	US92778VFF04	0.2
48	Los Angeles Department of Water & Power Water System Revenue US	LOSUTL	0.2
49	New York State Dormitory Authority US	US64990FJ625	0.2
50	LOS ANGELES CALIF UNI SCH DIST US	US544647MT41	0.2

Add this fund to your portfolio →

04Exposure

Equity 2.4%Bonds 94.6%Cash 3.0%

By country

USUnited States101.2%

CurrencyUSD 101.2%

See this fund inside your whole portfolio

Paste every fund you hold and see the companies you actually own, merged across all of them, with overlap, concentration and portfolio P/E. You can also test what adding this ETF would change.

Add to portfolio →