MUB’s worst drop since 2007 was 14%
iShares National Muni Bond ETF (MUB) fell 14% from Mar 2020 to Mar 2020. It took 0.4 years from that peak to close at a new high, in Jul 2020. Over the same years the S&P 500 fell as much as 55%.
That drop is milder than most. It ranks 190th of the 203 ETFs PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2007 to now
How MUB held up in each crash
| Crash | Years | MUB | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −13.7% | −33.7% |
| 2022 rate shock | 2022 | −11.3% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was MUB’s maximum drawdown?
MUB’s deepest fall since 2007 was 13.7%, from its high on March 9, 2020 to its low on March 19, 2020. The figure uses daily prices with dividends reinvested.
How long did MUB take to recover?
0.4 years. MUB first closed above its Mar 2020 high again on July 31, 2020.
Was MUB riskier than the S&P 500?
Over the same years, MUB’s worst drop was 13.7% against 55.2% for the S&P 500 (SPY), and its worst 12 months were −10.8% against −47.4%.
Compare with
Daily adjusted closes from Yahoo Finance, September 11, 2007 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.