PIMCO Short Term Municipal Bond Active Exchange-Traded Fund
$49.58−0.21 (−0.42%)
- Expense ratio
- 0.35%
- Fund size
- $1.2B
- 1Y return
- +1.1%
- Yield · Last 12 months
- 2.89%
- Holdings
- 251
- Volume · 30D
- 0.1M sh
- NAV per share
- $49.81
- 52W range
The ETF.net SMMU Grade
Score 53 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.FScore 7Category 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.CScore 50Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 75Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 41Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 79Category rank
Our read on SMMU
CPIMCO's muni desk running short-maturity bonds in an ETF wrapper since 2010. No index to hug: about 300 positions picked by hand, with interest intended to come out exempt from federal income tax and cash paid monthly.
The Fund seeks maximum total return while preserving capital through prudent investment practices.
Why people hold it
- Active by design. There is no benchmark to copy, so the managers set the maturity mix and the roughly 300 positions themselves, chasing total return while preserving capital.
- The portfolio is built from municipal debt whose interest is intended to be exempt from federal income tax, and distributions land monthly rather than once a year.
- Short maturities turn the interest-rate dial down, which is the whole point of the short-term sleeve versus a full-maturity muni index fund.
- Not a startup: trading since 2010, a multi-billion-dollar fund today, and structured as a standard 1940 Act ETF.
Worth knowing
- Active talent bills for itself: 0.35% a year, above the muni-ETF median of 0.30% and many times what index rivals like VTEB (0.03%) or MUB (0.05%) charge.
- No published index means no line-by-line yardstick. What you get depends on the desk's calls, not a rulebook you can read in advance.
- The tax break targeted here is federal. State and local treatment sits outside the mandate and varies with where you live.
SMMU Holdings
- Bonds
- 251
- 18%
- TREASURY BILL 10/26 0.00000 0.01% 10/20/2026
Geography
- United States100.00%
SMMU 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 | SMMU |
|---|---|
| Year to date | +0.6% |
| 1 month | −0.8% |
| 3 months | −0.6% |
| 1 year | +1.1% |
| 3 years | +3.4% |
| 5 years | +1.8% |
| 10 years | +1.8% |
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 | SMMU |
|---|---|---|
| 2026 YTD | +0.6% | |
| 2025 | +4.1% | |
| 2024 | +2.7% | |
| 2023 | +4.4% | |
| 2022 | −2.4% | |
| 2021 | +0.2% | |
| 2020 | +2.9% |
SMMU in the news
ETF.net Research hasn’t filed on SMMU yet — coverage lands here as it’s written.
SMMU Dividends
- 2.89%
- $1.44
- $0.11 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 3, 2026 | $0.11 |
| Aug 3, 2026 | Aug 5, 2026 | $0.12 |
| Jul 1, 2026 | Jul 6, 2026 | $0.13 |
| Jun 1, 2026 | Jun 3, 2026 | $0.13 |
| May 1, 2026 | May 5, 2026 | $0.12 |
| Apr 1, 2026 | Apr 3, 2026 | $0.11 |
| Mar 2, 2026 | Mar 4, 2026 | $0.12 |
| Feb 2, 2026 | Feb 4, 2026 | $0.11 |
| Dec 31, 2025 | Jan 5, 2026 | $0.12 |
| Dec 1, 2025 | Dec 3, 2025 | $0.11 |
| Nov 3, 2025 | Nov 5, 2025 | $0.14 |
| Oct 1, 2025 | Oct 3, 2025 | $0.12 |
SMMU Risk
- 1.8%
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.
- −0.58
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.
- −4.6%
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.
- 0.29
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SMMU Cost
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
23 of the 27 Short-Duration Municipal Bonds funds charge less.