State Street SPDR Nuveen ICE Municipal Bond ETF
$44.00−0.13 (−0.29%)
- 0.23%
- $2.96B
- −0.3%
- 3.98%
- 1.02M sh
- low $42.34high $46.50
The ETF.net TFI Grade
A
Score 82 out of 100
- 5 of 63
Score 82 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.A77 out of 100Rank 15 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C44 out of 100Rank 42 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A89 out of 100Rank 2 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A96 out of 100Rank 1 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A89 out of 100Rank 4 of 63
Our read on TFI
In short
ALaunched in 2007, this is one of the elder statesmen of municipal bond ETFs: roughly 1,900 AMT-free bonds, income paid monthly, and a fee that sits under the category median.
Stated mandate
The fund seeks to track, before fees and expenses, the price and yield performance of the ICE 1+ Year AMT-Free Broad Municipal Index.
Why people hold it
Worth knowing
TFI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
TFI$9,965
Returns run to the Nov 2, 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 | TFI |
|---|---|
| Year to date | −0.8% |
| 1 month | +3.3% |
| 3 months | −0.8% |
| 1 year | −0.3% |
| 3 years | +3.6% |
| 5 years | −0.3% |
| 10 years | +1.3% |
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 | TFI |
|---|---|---|
| 2026 YTD | −0.8% | |
| 2025 | +3.6% | |
| 2024 | 0.0% | |
| 2023 | +5.6% | |
| 2022 | −10.2% | |
| 2021 | +0.3% | |
| 2020 | +6.0% |
TFI in the news
TFI Dividends
- 3.98%
- $1.75
- $0.14 per share
- Monthly
TFI Risk
- 6.5%
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.
- −0.04
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.
- −14.9%
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.
- 1.08
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
TFI Cost
Overpaying vs VTEB, tied cheapest in Other Municipal Bond
$4,121
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
TFI 0.23%
$4,759
VTEB 0.03% Tied cheapest
$638
Cost over time
Year by year
| Year | TFI | VTEB | Overpaying |
|---|---|---|---|
| 10 | $419 | $55 | $364 |
| 20 | $1,630 | $216 | $1,414 |
| 30 | $4,759 | $638 | $4,121 |
Other funds in Other Municipal Bond
- AVCRMVanguard Core Tax-Exempt Bond EExpense ratio 0.12%1 year return +1.2%
- ASCMBSchwab Municipal Bond ETFExpense ratio 0.03%1 year return −0.5%
- ATAXTNorthern Trust Tax-Exempt Bond ETFExpense ratio 0.05%1 year return +2.1%
- ACMFiShares California Muni Bond ETFExpense ratio 0.08%1 year return −0.1%
- AJMUBJPMorgan Municipal ETFExpense ratio 0.18%1 year return +0.3%
