MUB vs PYLD: Performance, Holdings, Fees & Risk
MUB and PYLD are ETFs, but they can differ materially in exposure, yield, fees and risk. MUB is iShares National Muni Bond ETF, while PYLD is PIMCO Multisector Bond Active Exchange-Traded Fund. MUB is broader by holdings count, with 7,053 positions versus 2,122 for PYLD. PYLD is more concentrated at the top, based on top-10 holdings weight. Current AlgovestIQ evidence has MUB ahead on AIQ Score, 60 versus 55.
What is the main difference between MUB and PYLD?
PYLD puts 100% of its assets in Energy, while MUB spreads across 9 sectors with none above 29%.
| Metric | MUB | PYLD |
|---|---|---|
| Fund | ||
| Expense ratio | 0.05% | 0.74% |
| Holdings | 7,053 | 2,122 |
| Top-10 concentration | 1.3% | 21.6% |
| Distribution yieldTrailing 12 months | 3.34% | 6.59% |
| Average volume | 8,700,223 | 4,795,977 |
| Performance | ||
| 1Y return | -4.7% | -5.3% |
| YTD return | -4.4% | -4.7% |
| Risk | ||
| Annualized volatility | 3.7% | 4% |
| Max drawdown (1Y) | -7.9% | -6.7% |
| Beta | 0.10 | 0.16 |
| Sharpe ratio | -2.35 | -2.29 |
| Sortino ratio | -3.02 | -3.00 |
| AlgovestIQ | ||
| AIQ Score | 60/100 | 55/100 |
| AIQ Edge Score | 8/10 | 5/10 |
| Momentum | 57/100 | 44/100 |
| Risk Resilience | 88/100 | 88/100 |
AlgovestIQ AIQ Comparison
iShares National Muni Bond ETF vs PIMCO Multisector Bond Active Exchange-Traded Fund
MUB leads
MUB leads by 5 AIQ points, primarily on Momentum and Quality, and the lead has widened from 2 points over 30 sessions.
Fragile: 1 of 4 evidence groups support MUB, its lead is widening, and its current signal state is conflicted.
iShares National Muni Bond ETF
PIMCO Multisector Bond Active Exchange-Traded Fund
The Algovestiq AIQ Score currently favors MUB over PYLD, 60 versus 55 as of Oct 21, 2026. MUB's advantage is driven primarily by stronger momentum and quality. MUB also shows the stronger technical structure relative to its 50-day moving average. 1 of 4 covered evidence groups favor MUB today, and the comparison is rated Fragile on stability: the AIQ gap is narrow at 5 points. MUB lead: Strengthening — the AIQ differential moved from 2 to 5 points over 30 sessions.
Compare iShares National Muni Bond ETF and PIMCO Multisector Bond Active Exchange-Traded Fund across performance, expense ratio, dividend yield, drawdown, volatility and the Algovestiq AIQ Score.
MUB vs PYLD: which fits what
Each row is settled by a single measure. Where the gap is too small to matter it reads Similar, and no row decides the comparison as a whole.
| If you want | MUB | PYLD | Fits |
|---|---|---|---|
| Lower costExpense ratio | 0.05% | 0.74% | MUB |
| Broader diversificationNumber of holdings | 7,053 | 2,122 | MUB |
| Lower concentrationWeight of the 10 largest holdings | 1.3% | 21.6% | MUB |
| Higher incomeTrailing 12-month distribution yield | 3.34% | 6.59% | PYLD |
| Smaller drawdownsMax drawdown, 1 year | -7.9% | -6.7% | Similar |
| Lower volatilityAnnualized volatility, 1 year | 3.7% | 4% | Similar |
Similar means the gap is within 0.01 percentage points of expense ratio, 25% more holdings, 3 points of top-10 weight, 0.2 points of yield, 2 points of drawdown or 1 point of volatility. Past drawdowns and volatility describe the funds’ history, not their future.
Performance over time
Total return with distributions reinvested, from daily closes for both ETFs.
Total return comparison
Growth of $10,000, distributions reinvested
Split-adjusted closes; each distribution is reinvested at the close on its ex-dividend date. Taxes and trading costs are not modeled.
Compare MUB and PYLD against another ticker
Open a multi-ticker workspace without changing this focused pair page.
AIQ Factor Divergence
Where the two separate, on the four dimensions behind the AIQ Score. Bars read outward from a shared zero: further from the centre is a wider gap.
- Momentum57 vs 44MUB +13
- Quality72 vs 66MUB +6
- Value36 vs 36Even
- Risk Resilience88 vs 88Even
1 of 4 evidence groups favor MUB. MUB’s edge is concentrated in momentum and quality.
What changed since the last close
Latest scored session 2026-10-20, compared against the prior scored session 2026-10-19.
Largest factor move: Momentum -2, not enough on its own to move the overall score.
No signal started or stopped since the prior session; its 6 active signals are unchanged.
Largest factor move: Momentum +3
No signal started or stopped since the prior session; its 5 active signals are unchanged.
MUB's lead narrowed by 1 AIQ point in the latest session.
Deeper signal detail for each name lives on its own signals page — MUB and PYLD both carry a full feed there.
Fund facts, side by side
Two funds tracking overlapping universes are separated by cost and risk far more than by holdings. Those lead here.
| Measure | MUB | PYLD | Why it matters |
|---|---|---|---|
| Expense ratio | 0.05% | 0.74% | Lower is better — it compounds against you every year you hold. |
| Holdings | 7,053 | 2,122 | More holdings means broader diversification, not better returns. |
| Average volume | 8,700,223 | 4,795,977 | Liquidity — matters most if you trade size. |
| Annualized volatility | 3.7% | 4% | Lower is a steadier ride for the same exposure. |
| Max drawdown (1Y) | -7.9% | -6.7% | The worst peak-to-trough loss over the past year. |
| Sharpe ratio | -2.35 | -2.29 | Return per unit of risk. Higher is better. |
| Beta | 0.10 | 0.16 | Sensitivity to the broad market. Neither direction is better — it depends on the role in your portfolio. |
Where the exposure actually sits
Sector exposure for each fund, ordered by the size of the difference.
How much of the same holdings they own
MUB and PYLD share 0% of their weighted exposure across 0 common holdings.
7,050 holdings are unique to MUB, and 2,091 holdings are unique to PYLD. Owning both is genuinely additive — most of the capital sits in different securities.
PYLD is the more concentrated of the two: its ten largest positions are 21.6% of the fund, against 1.34% for MUB (2,122 holdings vs 7,053). Concentration cuts both ways — it is what drives outperformance when the top names work, and what makes the drawdown deeper when they do not.
What MUB adds that PYLD doesn’t
| Holding | MUB | PYLD |
|---|---|---|
| UNIVERSITY TEX UNIV REVS 5.00% 08/15/2036 | 0.18% | Not held |
| SAN ANTONIO TEX WTR REV 05/01/2055 | 0.15% | Not held |
| NEW YORK ST TWY AUTH ST PERS I 5.00% 03/15/2048 | 0.15% | Not held |
| NEW JERSEY ST 5.00% 06/01/2028 | 0.12% | Not held |
| HOUSTON TEX HIGHER ED FIN CORP 5.00% 05/15/2034 | 0.12% | Not held |
| NEW YORK ST DORM AUTH ST PERS 4.00% 02/15/2047 | 0.12% | Not held |
What PYLD adds that MUB doesn’t
| Holding | PYLD | MUB |
|---|---|---|
| FNMA TBA 30 YR 5 SINGLE FAMILY MORTGAGE 5.00% 10/13/2056 | 4.1% | Not held |
| FNMA TBA 30 YR 6 SINGLE FAMILY MORTGAGE 6.00% 11/12/2056 | 4.01% | Not held |
| CITIGROUP REPO REPO 5807 3.63% 09/14/2026 | 3.85% | Not held |
| FNMA TBA 30 YR 4 SINGLE FAMILY MORTGAGE 4.00% 10/13/2056 | 3.06% | Not held |
| FNMA POOL MA6052 FN 05/56 FIXED 4.5 4.50% 05/01/2056 | 1.91% | Not held |
| REPO BANK AMERICA REPO 3.64% 09/14/2026 | 1.83% | Not held |
Each list is a fund’s largest positions by weight that the other fund does not hold, or holds at less than half the weight.
AIQ Agreement Matrix
1 of 4 covered evidence groups favor MUB. A wide gap backed by one group is a weaker case than a narrow gap backed by five.
| Evidence group | Favors | Reading |
|---|---|---|
| AIQ Score | MUB | 60 vs 55 |
| Fundamentals | Not covered | Not covered |
| Valuation | Even | Value 36 vs 36 |
| Technicals | Even | Price vs 50-day -0.8% vs -1.2%; vs 200-day -3.5% vs -3.3% |
| Risk Resilience | Even | Risk Resilience 88 vs 88 |
| Analyst expectations | Not covered | Not covered |
✓ agrees with the overall verdict · ✕ points the other way. Groups marked “not covered” lack data on one or both of MUB and PYLD and are excluded from the count.
AIQ Decision Stability
The conclusion is sensitive to small changes. Treat the lead as provisional and watch the flip conditions below.
- The AIQ gap is narrow at 5 points. (argues the conclusion is provisional)
- Only 1 of 4 covered evidence groups agree. (argues the conclusion is provisional)
- The leader's advantage has been widening. (supports the conclusion holding)
- The lead has been steady session to session. (supports the conclusion holding)
- The leader is throwing conflicting signals. (argues the conclusion is provisional)
Stability combines the score gap, how broadly the evidence agrees, how steady the lead has been across daily snapshots, the current signal state on both names, and analyst dispersion on MUB.
How the comparison changed
120 daily snapshots · Jun 21 – Oct 20MUB lead: Strengthening — the AIQ differential moved from 2 to 5 points over 30 sessions.
- Today
- MUB +5
- 60 vs 55
- 7 sessions ago
- MUB +6
- 59 vs 53
- 30 sessions ago
- MUB +2
- 52 vs 50
- 90 sessions ago
- Level
- 53 vs 53
The lead changed hands 3 times in this window, most recently on Sep 3 when PYLD moved ahead of MUB.
AIQ Signal Divergence
Only the signals that bear on the head-to-head. A conflicted name is carrying bullish and bearish rules at the same time — the technical evidence is not pointing one way.
1 bullish / 3 bearish / 2 neutral, conflicted
Only MUB
- Bollinger Band Squeeze — neutral, volatility, short horizon
1 bullish / 3 bearish / 1 neutral, conflicted
No signal that the other name lacks.
Both carry 5 more signals that do not separate them: Death Cross Active, ATR Contraction - Coiling, 52-Week Low Proximity, Downtrend Structure Active, MACD Bullish Crossover.
MUB leads the comparison while carrying a conflicted signal state, which is one reason the stability rating is not higher.
Price vs model alignment
Whether the latest session's price move confirms what the model did over the same session, or contradicts it.
Neither the price nor the AIQ Score moved enough in the latest session to confirm or contradict the other (price +0.1%, AIQ 0 points).
Price and the AIQ Score both moved up over the latest session (price +0.12%, AIQ +1 points).
What would flip this result
A state, not a forecast. These are the specific, observable changes that would reverse the verdict — not a price prediction.
- 1PYLD closes the Momentum gap — currently 13 points behind, the largest single contributor to MUB's edge.
- 2PYLD's Death Cross Active resolves — a bearish trend rule currently active against it.
- 3MUB's conflicting signal state resolves bearish — it currently carries 1 bullish and 3 bearish rules at once.
- 4A regime shift changes factor weighting — Quality and Value carry the heaviest weights in the composite, so a rotation toward either would move the result most.
The full evidence
Every number behind the verdict. The leader is called above each group so you are not left to solve it from the table.
Performance
MUB leads 4 of 6 windows| Metric | MUB | PYLD |
|---|---|---|
| 1 week (5 sessions) | 0.6% | 0.1% |
| 1 month (20 sessions) | -0.4% | -1.6% |
| 3 months (63 sessions) | -3.3% | -2.9% |
| 6 months (126 sessions) | -4.6% | -4.2% |
| Year to date | -4.4% | -4.7% |
| 1 year (252 sessions) | -4.7% | -5.3% |
Technicals
Split| Metric | MUB | PYLD |
|---|---|---|
| RSI (14) | 66.8 | 53.1 |
| ADX (14) | 31.7 | 31.6 |
| Price vs 50-day | -0.8% | -1.2% |
| Price vs 200-day | -3.5% | -3.3% |
| Volatility (1M, annualized) | 6.9% | 4.8% |
Risk
Split| Metric | MUB | PYLD |
|---|---|---|
| Beta | 0.1 | 0.16 |
| Sharpe ratio | -2.35 | -2.29 |
| Sortino ratio | -3.02 | -3 |
| Max drawdown | -7.9% | -6.7% |
| Current drawdown | -6% | -5.9% |
| Annualized volatility | 3.7% | 4% |
| Value at risk (95%) | -0.5% | -0.5% |
Straight answers
Short answers to the questions fund investors ask about this pair, from the figures above.
What is the difference between MUB and PYLD?
PYLD puts 100% of its assets in Energy, while MUB spreads across 9 sectors with none above 29%.
How much do MUB and PYLD overlap?
MUB and PYLD share 0% of their weighted exposure across 0 common holdings. 7,050 holdings are unique to MUB, and 2,091 holdings are unique to PYLD. Owning both is genuinely additive — most of the capital sits in different securities.
Which ETF is more diversified, MUB or PYLD?
MUB holds more positions: 7,053 versus 2,122 for PYLD.
Which has the lower expense ratio?
MUB has the lower expense ratio, 0.05% a year against 0.74% for PYLD.
Which ETF has the higher distribution yield?
PYLD, with a trailing 12-month distribution yield of 6.59% against 3.34% for MUB.
Which ETF has been more volatile?
Their volatility over the past year is similar: 3.7% annualized for MUB and 4% for PYLD.
Which ETF has had the smaller drawdown?
Their worst peak-to-trough falls over the past year are similar: -7.9% for MUB and -6.7% for PYLD.
Compare MUB and PYLD with others
Continue your research
This page answers which of the two. These answer the questions on either side of it.
How this comparison is scored
The Algovestiq AIQ Score composites four factors — Quality, Value, Momentum and Risk, each carrying a fixed weight. Sentiment is reported separately as SentimentPulse and is not folded into the composite. Scores refresh every trading day, and this page regenerates from the latest snapshot rather than being written once.
The verdict names a leader, states how broadly six independent evidence groups agree, and rates how durable that conclusion is given the score gap, its recent trajectory and the current signal state on both names.
How to use side-by-side comparison →This comparison is informational and educational, not investment advice. AIQ scores update daily; re-check after earnings, guidance or macro data that materially changes either name’s factor profile.