SUB Dividend Yield 2026: iShares Short-Term National Muni Bond ETF

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Data last updated: Oct 17, 2026

Dividend Yield: 2.59%

Dividend Frequency: monthly

Years of Dividend History: 19

About iShares Short-Term National Muni Bond ETF Dividend

The iShares Short-Term National Muni Bond ETF dividend comes from a fund that holds short-term municipal bonds whose interest is exempt from federal income taxes and not subject to the alternative minimum tax. SUB currently yields 2.61%, paid monthly. That tax-exempt income stream is the defining feature here, making it most relevant to income investors in higher tax brackets who want regular cash flow with limited interest rate exposure from short-duration bonds.

Dividend Safety

iShares Short-Term National Muni Bond ETF dividend safety depends on the aggregate distributions from the underlying municipal bond holdings, which are governed by the fund's mandate to keep at least 80% of assets in index components and at least 90% in qualifying fixed income securities. Payout ratio is not applicable (fund/ETF). The history table does show year-over-year declines, including a drop from $1.3908 in 2018 to $1.3350 in 2020 and a sharper fall to $0.7698 in 2021, which reflects that distributions from bond funds move with prevailing interest rates, not a corporate earnings floor.

iShares Short-Term National Muni Bond ETF (SUB) Dividend Growth Rate, CAGR, and History

iShares Short-Term National Muni Bond ETF dividend history shows a CAGR of 3.4% per year from 2009 to 2025. Per-share payments grew from $1.5120 to $2.5809 over that window (2026 is a partial year and excluded from the CAGR). The largest annual increase in the window was 103.1% in 2023, reflecting how sharply distributions can move when interest rates shift.

iShares Short-Term National Muni Bond ETF Dividend Growth Rate (CAGR)

Period	CAGR	From	To
3-Year	+42.1%	$0.90 (2022)	$2.58 (2025)
5-Year	+14.1%	$1.33 (2020)	$2.58 (2025)
10-Year	+12.3%	$0.81 (2015)	$2.58 (2025)

Is iShares Short-Term National Muni Bond ETF a Good Dividend Stock?

SUB fits dividend investors who prioritize tax-advantaged monthly income over aggressive yield or growth. The current yield of 2.61% falls in the moderate (2–4%) range, and with no 5-year average yield available for comparison, the current figure stands on its own. The fund has grown distributions at 3.4% annually since 2009, but that path has not been linear: multiple years showed meaningful declines, so income is rate-sensitive, not predictable in the way a corporate dividend might be. What an investor gets is federal tax-exempt monthly income from short-duration municipal bonds. The trade-off is that distributions fluctuate with interest rates, and the yield is moderate rather than high.

Recent iShares Short-Term National Muni Bond ETF Dividend Payments

Payment Date	Amount per Share
2026-10-01	$0.2350
2026-09-01	$0.2279
2026-08-03	$0.2281
2026-07-01	$0.2325
2026-06-01	$0.2231
2026-05-01	$0.2310
2026-04-01	$0.2212
2026-03-02	$0.2368
2026-02-02	$0.2147
2025-12-19	$0.2219

iShares Short-Term National Muni Bond ETF Annual Dividend History

Year	Total Dividends
2026	$2.0503
2025	$2.5809
2024	$2.2122
2023	$1.8273
2022	$0.8999

Frequently Asked Questions

How often does SUB pay dividends?

iShares Short-Term National Muni Bond ETF (SUB) pays dividends monthly — 12 times per year.

Does SUB pay monthly dividends?

Yes — iShares Short-Term National Muni Bond ETF (SUB) pays dividends every month.

What is SUB's dividend yield?

iShares Short-Term National Muni Bond ETF (SUB) currently yields 2.59% based on the annual dividend rate and today's share price.

Has iShares Short-Term National Muni Bond ETF ever cut its dividend?

Yes, the history table shows multiple year-over-year declines. Annual distributions fell from $1.3908 in 2018 to $0.7698 in 2021, a drop of roughly 45% over that span, reflecting the sensitivity of bond fund distributions to changes in interest rates.

How fast has iShares Short-Term National Muni Bond ETF grown its dividend?

The compound annual growth rate (CAGR) for the iShares Short-Term National Muni Bond ETF dividend is 3.4% per year from 2009 to 2025. That growth has not been linear: the path includes both sharp increases and multi-year declines driven by interest rate movements.

Is iShares Short-Term National Muni Bond ETF a good dividend stock for income investors?

SUB offers a moderate (2–4%) yield of 2.61% with monthly payments, all from federal tax-exempt municipal bonds. For income investors in higher tax brackets, the after-tax yield is more attractive than the headline figure, though distributions fluctuate with interest rates rather than growing predictably.

What type of investor is iShares Short-Term National Muni Bond ETF best suited for?

SUB is best suited for income investors who want monthly, federally tax-exempt cash flow from short-duration bonds. The 3.4% annual CAGR over 16 years shows modest long-term growth, but the history of distribution declines means investors need tolerance for rate-driven income variability.

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