Muni Bond vs the S&P 500 (MUB): is it outperforming?
As of 12 October 2026, Muni Bond (MUB) is trailing the S&P 500, over the past month and over the longer run. MUB trails the S&P 500 by 3.7 points over one month and ranks #51 of 115 groups Zensei tracks.
Where muni bond stands now
As of 12 October 2026, Muni Bond (MUB) ranks #51 of the 115 groups Zensei tracks by one-month return against the S&P 500. It is out of favor: it trails the S&P 500 on both rotation windows — 3.7 points behind over the past month and 5.0 points behind over the longer, time-shifted window. That is the Underperformers quadrant.
On the shorter tape, MUB's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. MUB's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The thing to watch from here is the one-month spread: underperformers only become interesting when the recent window turns positive first — until then, the market is voting elsewhere.
MUB vs SPY: head-to-head returns
Over the week to 12 October 2026, MUB rose 0.0% while the S&P 500 rose 0.4%. The table compares MUB and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means MUB won that window.
Prices as of · computed from daily adjusted closes · how we measure
Muni Bond on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Muni Bond vs the market — common questions
Is muni bond outperforming the S&P 500?
No. As of 12 October 2026, MUB trails the S&P 500 by 3.7 points over the past month.
What is MUB?
MUB is iShares National Muni Bond ETF. Zensei uses it to measure muni bond against the S&P 500 (SPY).
What quadrant is muni bond in right now?
As of 12 October 2026, muni bond is in the Underperformers quadrant — trailing the S&P 500 on both windows. The Zensei methodology page explains the quadrants.
Recent changes
- ·First tracked: trailing the market
Related sectors
Track muni bond against the whole market
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