State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
$46.86−0.01 (−0.02%)
- 0.20%
- $3.5B
- +0.1%
- 2.74%
- 0.3M sh
- $46.80
- low $46.33high $48.48
The ETF.net SHM Grade
A
Score 74 out of 100
- 6 of 28
Score 74 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B63 out of 100Rank 10 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C40 out of 100Rank 21 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A85 out of 100Rank 2 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A78 out of 100Rank 5 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A90 out of 100Rank 2 of 28
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
- 1,107
- 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.
SHM$10,011
Returns run to the Oct 12, 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 | −0.3% |
| 1 month | −0.7% |
| 3 months | −1.4% |
| 1 year | +0.1% |
| 3 years | +2.8% |
| 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 | −0.3% | |
| 2025 | +3.9% | |
| 2024 | +1.2% | |
| 2023 | +2.9% | |
| 2022 | −3.8% | |
| 2021 | −0.4% | |
| 2020 | +2.7% |
SHM in the news
SHM Dividends
- 2.74%
- $1.28
- $0.11 per share
- Monthly
Distribution history
SHM Risk
- 2.7%
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.
- −0.71
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.
- −6.2%
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
0.20%
SHM0.20%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
11 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- AVSDMVanguard Municipal Bond Funds - Vanguard Short Duration Tax-Exempt Bond ETFExpense ratio 0.12%1 year return +0.7%
- AJMSTJPMorgan Ultra-Short Municipal Income ETFExpense ratio 0.18%1 year return +2.0%
- APUSHPGIM Ultra Short Municipal Bond ETFExpense ratio 0.15%1 year return +2.1%
- ASMBVanEck Short Muni ETFExpense ratio 0.07%1 year return +0.5%
- BEVSMEaton Vance Short Duration Municipal Income ETFExpense ratio 0.19%1 year return +0.7%