MUB vs YYYM

MUBAiShares National Muni Bond ETF

YYYMFAmplify Municipal CEF High Income ETF

In short

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.

YYYM Amplify's closed-end-fund playbook, pointed at munis: one ticker holding roughly 30 tax-exempt muni CEFs, screened for yield, discount to NAV, and liquidity. You get other managers' bond books, and their fee stack, in a single trade.

Stated mandate

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.

YYYM The fund seeks results generally corresponding to the price and yield performance of the Nasdaq Municipal Bond CEF High Income Index. That index selects tax-exempt municipal bond closed-end funds while prioritizing yield, discount to NAV, and liquidity.

Why people hold it

• 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

• YYYM Does the screening most investors never attempt: a rules-based index ranks municipal closed-end funds on yield, discount to net asset value, and liquidity, then holds about 30 of them.amplifyetfs.com
• Federally tax-advantaged income is the stated design goal, since everything inside is a tax-exempt municipal bond CEF run by an outside manager.amplifyetfs.comamplifyetfs.com 2
• Discounts are a feature, not an accident: the methodology leans toward CEFs trading below NAV, so a dollar buys more of the underlying bond portfolio than sticker price suggests.amplifyetfs.com
• Not a first attempt. Amplify has run the same discounted-CEF screen in a multi-asset income ETF since 2013; this one narrows the machinery to municipals.amplifyetfs.cometfstrategy.com

Worth knowing

• 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.

• YYYM All-in cost is 2.78% a year against roughly 0.30% for the typical muni fund. In a fund of funds, the underlying CEFs' fees stack on top of the manager's.amplifyetfs.com
• Closed-end funds trade on sentiment as well as bonds, so the discounts this index hunts can widen as easily as they close, adding a layer of price swing over the muni market itself.amplifyetfs.com
• Launched in 2026, small and thinly traded, so there is no long record and execution costs weigh more than in giants like VTEB or MUB.

Full MUB profile⁠

Full YYYM profile⁠