iShares National Muni Bond
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The iShares National Muni Bond ETF (the “Fund”) seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds.
Investment Strategy
The Fund seeks to track the investment results of the ICE® AMT-Free US National Municipal Index (the “Underlying Index”), which measures the performance of U.S. dollar denominated investment grade tax-exempt debt publicly issued in the U.S. domestic market by U.S. states and their political subdivisions. As of February 28, 2026, there were 26,009 issues in the Underlying Index. As of February 28, 2026, a significant portion of the Underlying Index was represented by municipal bonds. The components of the Underlying Index are likely to change over time.
Fees & Expenses
| Net Expense Ratio | 0.05% |
| Management Fee | 0.05% |
| Portfolio Turnover | 11% |
Reported Performance
Average annual returns as reported in the fund's most recent prospectus. Past performance does not guarantee future results.
| 1-Year Return | 3.69% |
| 5-Year Avg Annual | 0.77% |
| 10-Year Avg Annual | 2.13% |
Holdings
Top 10 holdings
| Name | Ticker | Weight | Value |
|---|---|---|---|
| BlackRock Liquidity MuniCash Funds: Institutional Shares | MCSXX | 1.28% | $574,311,594 |
| Board of Regents of the University of Texas System, Series 2025B | 0.19% | $86,650,750 | |
| New York State Thruway Authority, Series 2022A | 0.15% | $68,624,875 | |
| San Antonio Water System, Series 2025D | 0.14% | $63,980,000 | |
| Triborough Bridge & Tunnel Authority, Series 2005B-2 | 0.14% | $60,965,000 | |
| New York City Transitional Finance Authority Future Tax Secured, Series 2019C-4 | 0.13% | $59,400,000 | |
| New York State Dormitory Authority, Series 2019D | 0.13% | $59,349,953 | |
| Ohio State University (The), Series 2026A | 0.13% | $57,750,880 | |
| Houston Higher Education Finance Corp., Series 2024 | 0.13% | $57,656,825 | |
| Northwest Independent School District, Series 2025 | 0.13% | $57,406,365 |
Country
| Country | Weight |
|---|---|
| United States | 99.5% |
| Total | 99.5% |
Region
| Region | Weight |
|---|---|
| Americas | 99.5% |
| Total | 99.5% |
Market classification
| Market | Weight |
|---|---|
| Developed | 99.5% |
| Total | 99.5% |
Asset class
| Class | Weight |
|---|---|
| Debt | 95.6% |
| Short-term investment | 4.0% |
| Total | 99.5% |
Issuer type
| Type | Weight |
|---|---|
| Municipal | 98.3% |
| Registered fund | 1.3% |
| Total | 99.5% |
Maturity
| Maturity | Weight |
|---|---|
| Under 1 year | 3.1% |
| 1-3 years | 6.8% |
| 3-5 years | 8.1% |
| 5-10 years | 21.2% |
| Over 10 years | 59.0% |
| No expiry | 1.3% |
| Total | 99.5% |