State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
$46.87−0.20 (−0.41%)
- Expense ratio
- 0.20%
- Fund size
- $3.5B
- 1Y return
- −0.1%
- Yield · Last 12 months
- 2.72%
- Holdings
- 1101
- Volume · 30D
- 0.3M sh
- NAV per share
- $47.12
- 52W range
The ETF.net SHM Grade
Score 70 of 100 sits in the A 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.BScore 61Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 34Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 67Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 75Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 90Category rank
Our read on SHM
AA 2007-vintage muni fund that deliberately stays short: roughly a thousand AMT-free municipal bonds, none of them maturing past five years. Federally tax-exempt income, paid monthly, with far less rate whiplash than the full muni market.
The fund seeks to generally match, before fees and expenses, the price and yield performance of the ICE 1-5 Year AMT-Free Broad Municipal Index.
Why people hold it
- Runs 0.20% a year, below the 0.30% median for muni bond ETFs in its peer group.
- Spreads across roughly a thousand individual municipal bonds, so no single issuer's problems dominate the portfolio.
- Trading since 2007, one of the elder statesmen of muni ETFs, now a multi-billion-dollar fund that distributes monthly.
- Sits in the upper tier of a crowded muni ETF field on our review, helped by steady day-to-day trading and a deep bond bench.
Worth knowing
- Cheap for a muni fund, but not the cheapest shelf: broad muni index trackers like VTEB and SCMB charge 0.03%.
- The index stops at five years, so long-maturity muni exposure has to come from somewhere else in the portfolio.ssga.com
- Short bonds cut both ways: smaller price moves when rates climb, and smaller ones when rates drop.
SHM Holdings
- Bonds
- 1,101
- 5%
- SEEPWR 5.000 10/01/30
Geography
- United States100.00%
SHM Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | SHM |
|---|---|
| Year to date | −0.2% |
| 1 month | −1.2% |
| 3 months | −1.1% |
| 1 year | −0.1% |
| 3 years | +2.7% |
| 5 years | +0.7% |
| 10 years | +1.1% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SHM |
|---|---|---|
| 2026 YTD | −0.2% | |
| 2025 | +3.9% | |
| 2024 | +1.2% | |
| 2023 | +2.9% | |
| 2022 | −3.8% | |
| 2021 | −0.4% | |
| 2020 | +2.7% |
SHM in the news
ETF.net Research hasn’t filed on SHM yet — coverage lands here as it’s written.
SHM Dividends
- 2.72%
- $1.28
- $0.11 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.11 |
| Aug 3, 2026 | Aug 6, 2026 | $0.11 |
| Jul 1, 2026 | Jul 7, 2026 | $0.11 |
| Jun 1, 2026 | Jun 4, 2026 | $0.10 |
| May 1, 2026 | May 6, 2026 | $0.11 |
| Apr 1, 2026 | Apr 6, 2026 | $0.10 |
| Mar 2, 2026 | Mar 5, 2026 | $0.11 |
| Feb 2, 2026 | Feb 5, 2026 | $0.10 |
| Dec 18, 2025 | Dec 23, 2025 | $0.11 |
| Dec 1, 2025 | Dec 4, 2025 | $0.11 |
| Nov 3, 2025 | Nov 6, 2025 | $0.11 |
| Oct 1, 2025 | Oct 6, 2025 | $0.11 |
SHM Risk
- 2.5%
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.
- −0.66
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.
- −6.5%
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.
- 0.38
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SHM Cost
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
11 of the 27 Short-Duration Municipal Bonds funds charge less.