MINN vs MUB

MINNCMairs & Power Minnesota Municipal Bond ETF

MUBAiShares National Muni Bond ETF

In short

MINN A muni fund with a ZIP code. MINN holds roughly 90 Minnesota bonds and seeks current income exempt from both federal and Minnesota income taxes, for 0.25% a year.

MUB Municipal bonds, indexed and cheap. Since 2007, MUB has packaged investment-grade national munis into tax-exempt monthly income for five basis points a year, and it sits among the deepest pools in the muni-ETF aisle.

Stated mandate

MINN The Fund seeks current income exempt from federal and Minnesota income taxes.

MUB The fund seeks to track an index of investment-grade U.S. municipal bonds, providing diversified exposure to the national municipal-bond market and tax-exempt income.

Why people hold it

• MINN The mandate is unusually specific: income exempt from federal and Minnesota income taxes, not a national grab bag of 50 states' paper.
• At 0.25% a year it charges less than the median muni bond ETF (0.30%), which is rare for a single-state portfolio.
• Pays monthly and spreads exposure across roughly 90 bonds rather than a handful of issuers.
• Live since 2021, so there is a real multi-year record to read instead of a launch-week backtest.

• MUB 0.05% a year against a muni-ETF median near 0.30%. In a category built on modest, tax-exempt yields, that fee gap is real money left in the fund.
• The benchmark is AMT-free: the ICE AMT-Free US National Municipal Index screens out munis whose interest can be pulled into the alternative minimum tax.ishares.com
• Tracks its index closely, one of the tighter jobs in its peer group, and distributes monthly. A multi-billion-dollar fund that trades actively.
• Broad investment-grade exposure across the national muni market, spread over thousands of issuers rather than one state's budget.ishares.com

Worth knowing

• MINN A small, thinly traded fund. Trades can meet wider bid-ask spreads than the giants of the muni aisle.
• The Minnesota half of the tax break only does work for Minnesota taxpayers. Everyone else is paying a state-specific fee for federal exemption alone.
• National muni ETFs such as VTEB and SCMB run at 0.03%, so the state tilt costs roughly eight times the cheapest broad option.

• MUB Two rivals undercut it: VTEB and SCMB both run 0.03%. A two-basis-point gap is small, but it is a gap.
• A bond fund with no maturity date to hold to. Share prices move with interest rates and muni credit conditions, both directions.
• National by design, so no single-state tilt and no in-state tax angle. iShares runs state-specific muni funds such as NYF for that job.

Full MINN profile⁠

Full MUB profile⁠