MUST ETF — Columbia Multi-Sector Municipal Income ETF

Columbia Multi-Sector Municipal Income ETF (MUST)

Updated October 16, 2026.

MUST is an ETF. its distribution rate is 3.64%, its trailing-12-month yield is 3.53%, its expense ratio is 0.23%. Dividend Vision Distribution Safety Score™ is 92/100 (Safe). Total return is 19.8% over the past 8 years, 189.3 points behind SPY at 209.1%.

Columbia Threadneedle's ETF tracks a rules-based index of tax-exempt municipal bonds across multiple sectors of the U.S. municipal bond market, holding at least 80% of its assets in debt instruments issued by state and local governments whose interest is exempt from federal income tax. The fund offers a modest current distribution rate paid monthly, with a low expense ratio. The fund appeals to income-focused investors in higher tax brackets seeking tax-exempt income from diversified municipal exposures.

MUST performance versus SPY

Price and return data through 2026-10-16.

Total return is 19.8% over the past 8 years, 189.3 points behind SPY at 209.1%. Over the past year its total return — price change plus distributions reinvested — is -1.6%. Its deepest 1-year drawdown was 8.1%.

MUST key facts

Distribution Safety Score™

92 · Safe

Safety-Adjusted Yield

3.35%

Issuer

Columbia Threadneedle

Asset type

ETF

Asset class

Fixed Income

Inception date

10/10/2018

Expense ratio

0.23%

Distribution rate

3.64%

Distribution frequency

Monthly

Trailing yield

3.53%

Last close

$19.55 (as of 2026-10-16)

AUM

$506,984,603

Average volume

817358.0

Dividend

$0.05926

Ex-dividend date

10/01/2026

Payment date

10/05/2026

Beta

1.04

How Dividend Vision calculates yield and returns

Distribution rate (3.64%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.53%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Columbia Threadneedle; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MUST risks and drawbacks

MUST's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.1%.

Who may consider MUST — and who may not

MUST may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on MUST

• All tickers starting with M

Tagged: Fixed Income.

Frequently asked questions

More securities from Columbia Threadneedle.