ETF Evaluator:
iShares Short Maturity Muni Bd Act ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Muni National Short Over the Last Year
| 5.4% | abrdn Ultra Short Municipal Inc Act ETF (AMUN) |
| 3.2% | Vanguard Short Duration Tax-Exm Bd ETF (VSDM) |
| 3.2% | Capital Group Short Dur Muncpl Inc ETF (CGSM) |
| 3.2% | NYLI MacKay Muni Short Duration ETF (MMSD) |
| 3.2% | PGIM Ultra Short Municipal Bond ETF (PUSH) |
Risk
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Risk
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ETF Details
iShares Short Maturity Muni Bd Act ETF Overview
iShares Short Maturity Muni Bd Act ETF (MEAR) is an actively managed Municipal Bond Muni National Short exchange-traded fund (ETF). iShares launched the ETF in 2015.
The investment seeks to maximize tax-free current income.
The fund normally invests at least 80% of its net assets in municipal securities such that the interest on each bond is exempt from U.S. federal income taxes and the federal alternative minimum tax ("AMT"). It primarily invests in U.S. dollar-denominated investment-grade short-term fixed- and floating-rate municipal securities with remaining maturities of five years or less, such as municipal bonds, municipal notes and variable rate demand obligations, as well as money market instruments and registered investment companies. The fund is an actively managed exchange-traded fund ("ETF").
About iShares Short Maturity Muni Bd Act ETF (MEAR)
There are 4 members of the management team with an average tenure of 4.60 years: James Mauro (2021), Christian Romaglino (2022), Kristi Manidis (2019) and Alicia De Lorenzo (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg Municipal TR USD index with a weighting of 100% and Bloomberg Municipal 1 Yr 1-2 TR USD index with a weighting of 100%. iShares Short Maturity Muni Bd Act ETF has 347 securities in its portfolio. The top 10 holdings constitute 17.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares Short Maturity Muni Bd Act ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. iShares Short Maturity Muni Bd Act ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 90.6% (90.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares Short Maturity Muni Bd Act ETF has 9.4% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is above the $1 billion average for the Muni National Short category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MEAR Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares Short Maturity Muni Bd Act ETF expense ratio is below average compared to funds in the Muni National Short category. iShares Short Maturity Muni Bd Act ETF has an expense ratio of 0.26%, which is 24% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares Short Maturity Muni Bd Act ETF has a portfolio turnover rate of 37%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Muni National Short category.
Recently, in the month of July 2026, iShares Short Maturity Muni Bd Act ETF returned -0.1%, which earned it a grade of B, as the Muni National Short category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares Short Maturity Muni Bd Act ETF has a trailing yield of 2.83%, which is below the 2.91% category average.
The fund normally distributes its income monthly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares Short Maturity Muni Bd Act ETF Grades
Year to date, the ETF has returned 1.2%, 0.1 percentage points better than the category, which translates into a grade of C. The fund has returned 2.5% over the past year (grade of D), 3.4% over the past three years (grade of B) and 2.4% per year over the past five years (grade of A) and 1.8% per year over the past 10 years (grade of A).
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MEAR Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MEAR Return (NAV) | -0.1% | 0.4% | 2.5% | 3.4% | 2.4% | 1.8% |
| MEAR Return (Price) | -0.1% | 0.5% | 2.6% | 3.4% | 2.4% | 1.8% |
| NAV +/- Price Return | -0.074% | -0.130% | -0.105% | -0.060% | -0.020% | 0.001% |
| Muni National Short Avg | -0.2% | 0.4% | 2.8% | 3.2% | 1.7% | 1.5% |
| MEAR Grade (NAV) | B | B | D | B | A | A |
| +/- Category (NAV) | 0.1% | 0.0% | -0.2% | 0.2% | 0.7% | 0.3% |
| MEAR Tax-Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
MEAR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MEAR Return (NAV) | 1.2% | 3.7% | 3.4% | 4.0% | 0.2% | 0.1% | 1.1% | 2.0% | 1.6% | 1.0% | 0.6% |
| MEAR Return (Price) | 1.2% | 3.8% | 3.4% | 3.9% | 0.1% | 0.0% | 1.2% | 1.9% | 1.6% | 1.1% | 0.3% |
| NAV +/- Price Ret | 0.018% | 0.023% | 0.013% | -0.008% | -0.374% | -0.159% | 0.064% | -6.1% | 3.2% | 15.5% | -47.8% |
| Muni National Short Avg | 1.1% | 3.8% | 2.7% | 3.8% | -2.1% | 0.4% | 2.1% | 3.0% | 1.3% | 1.5% | -0.1% |
| MEAR Grade (NAV) | C | D | A | B | A | F | F | D | A | D | A |
| +/- Category | 0.1% | -0.1% | 0.7% | 0.2% | 2.3% | -0.4% | -1.0% | -1.0% | 0.3% | -0.5% | 0.6% |
| Risk Measures | |
| Beta: | 0.10 |
| R-Squared: | 63% |
| Standard Deviation: | 0.7% |
| Category Risk Index: | 0.42 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 0.06 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 2.8% |
| Total Assets: | $ 1,357 Mil |
| Share Class Assets: | $ 1,357 Mil |
| Turnover: | 37.0% |
| Expense Ratio: | 0.26% |
| Index Fund: | No |
| Index Tracked: | Bloomberg Municipal TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 7.4 years | |||
| Average Tenure: 4.6 years | |||
| Managers (Year): Manidis Kristi (2019), Mauro James (2021), Romaglino Christian (2022), De Lorenzo Alicia (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 347 |
| % in Top 10 Holdings: | 17.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 90.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 9.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | www.iShares.com |
| Inception Date: | March 3, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.26% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.21% |
