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SCNM

GradeCChicago Board Options Exchange

Sterling Capital National Municipal Bond ETF

Municipal Bond · Sterling Capital · Inception 2025-12-11 · SEC filings

$23.82−0.28 (−1.16%)

As of Sep 23, 2026, 2:17 PM EDT

History starts Dec 11, 2025.History starts Dec 11, 2025.
Intraday session: down, 12 prints from 24.10 to 23.82. Range 23.82 to 24.11. Use the arrow keys to read each point.$23.90$24.00$24.1010 AM12 PM2 PM4 PM
Expense ratio
0.35%
Fund size
$237M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$24.02
52W range
low $24.07high $25.50

The ETF.net SCNM Grade

C

51/ 100

Rank 41 of 63 in Other Municipal Bond⁠

Confidence High

Six-pillar profile for SCNM. Scores out of 100: Cost 36, Risk 47, Mission 81, Tradability 42, Holdings 54, Durability 39. Strongest: Mission (81). Weakest: Cost (36). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 51 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 36
    Category rank44/63 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 81
    Category rank35/57 · mid-pack

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 47
    Category rank40/62 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank39/63 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 54
    Category rank35/63 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 39
    Category rank49/63 · bottom quartile

Graded as of Sep 22, 2026

Our read on SCNM

ETF.net Research

CA boutique shop's take on national munis: income exempt from regular federal income taxes with capital preservation as the second job, measured against the Bloomberg U.S. Municipal Index. It opened in December 2025.

Stated mandate

The Fund seeks current income exempt from regular federal income taxes while preserving capital.

Why people hold it

  1. 01The mandate is plain: current income exempt from regular federal income taxes, with preserving capital as the stated second goal.
  2. 02National scope rather than single-state, so the portfolio isn't tied to one state's tax base the way a New York-only fund like NYF is.
  3. 03Benchmarked to the Bloomberg U.S. Municipal Index, the standard yardstick for the broad tax-exempt market, inside a plain 1940 Act ETF wrapper.

Worth knowing

  1. 01At 0.35% it prices above the muni category median of 0.30%, and far above index heavyweights VTEB and SCMB at 0.03%. In tax-exempt bonds, fees bite a modest yield.
  2. 02It launched in December 2025, so there's little track record to judge, and early trading has been light compared with the category's household names.
  3. 03The exemption it targets is from regular federal income taxes. State and local tax treatment is a separate question for the holder.

SCNM Holdings

As of Sep 20, 2026, 8:43 AM
Asset class
Bonds
Holdings
—
Top-10 weight
18%
Largest holding
FEDERATED HERMES MM TREAS2.8%
The fund’s holdings, weight-ordered — page 1 of 7.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—FEDERATED HERMES MM TREAS2.77%6,574,453$7M6
002—NMSPWR 5 06/1/20542.07%4,750,000$5M7
003—MAIUTL 5 05/1/20551.99%4,600,000$5M8
004—CCEDEV 5 01/1/20561.87%4,265,000$4M5
005—BBEUTL 5 07/1/20331.72%4,000,000$4M8
006—MAS 5 08/1/20501.69%4,000,000$4M1
007—ESDPWR 5.25 07/1/20541.64%3,750,000$4M7
008—STNPWR 5 04/1/20551.62%3,755,000$4M4
009—CCEDEV 5 02/1/20551.53%3,500,000$4M5
010—NYTTRN 5 10/1/20351.51%3,500,000$4M5
011—CHADEV 5 09/1/20521.48%3,500,000$4M6
012—MASDEV 5 07/1/20361.48%3,500,000$4M2
013—MASDEV 5 07/1/20431.47%3,500,000$3M3
014—SCSMED 5.25 11/1/20541.47%3,500,000$3M4
015—GASHSG 4.7 12/1/20551.47%3,810,000$3M2

Showing 1–15 of 97 holdings

SCNM Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

SCNM$9,821
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. SCNM $9,821. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SCNM. Periods over one year show the average yearly return.
PeriodSCNM
Year to date−1.8%
1 month−2.2%
3 months−3.1%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SCNM
YearReturn barSCNM
2026 YTD−1.8%
2025+0.0%

Since listing, Dec 11, 2025

SCNM in the news

ETF.net Research hasn’t filed on SCNM yet — coverage lands here as it’s written.

SCNM Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 9 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.06; Feb 2, 2026 $0.04; Mar 2, 2026 $0.07; Apr 1, 2026 $0.07; May 1, 2026 $0.07; Jun 1, 2026 $0.07; Jul 1, 2026 $0.07; Aug 3, 2026 $0.08; Sep 1, 2026 $0.07. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 3, 2026$0.07
Aug 3, 2026Aug 5, 2026$0.08
Jul 1, 2026Jul 6, 2026$0.07
Jun 1, 2026Jun 3, 2026$0.07
May 1, 2026May 5, 2026$0.07
Apr 1, 2026Apr 6, 2026$0.07
Mar 2, 2026Mar 4, 2026$0.07
Feb 2, 2026Feb 4, 2026$0.04
Dec 30, 2025Jan 2, 2026$0.06

SCNM Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.14
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SCNM Cost

Expense ratio0.35%
  • The middle half of Other Municipal Bond funds
  • Median 0.30%

35 of the 62 Other Municipal Bond funds charge less.

SCNM costs $35.00 a year on $10,000. The median Other Municipal Bond fund costs $30.00.