- Issuer
- State Street
- Inception Date
- Feb 4, 2021
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $27M
Share Price Chart
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Performance
MBND Performance Chart
SPDR Nuveen Municipal Bond ETF (MBND) is up 1.2% since the beginning of the year. MBND is currently trading at $27 per share. Investors who bought $1,000 worth of MBND shares 5 years ago would now be looking at an investment worth $1,032.
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Returns By Period
SPDR Nuveen Municipal Bond ETF (MBND) has returned 1.15% so far this year and 4.68% over the past 12 months.
SPDR Nuveen Municipal Bond ETF
- 1D
- -0.01%
- 1M
- 1.11%
- YTD
- 1.15%
- 6M
- 1.39%
- 1Y
- 4.68%
- 3Y*
- 3.51%
- 5Y*
- 0.64%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MBND Monthly Returns History
Based on dividend-adjusted daily data since Feb 4, 2021, MBND's average daily return is 0.00%, while the average monthly return is +0.07%. At this rate, an investment would double in approximately 82.5 years.
Historically, 55% of months were positive and 45% were negative. The best month was Nov 2023 with a return of +5.2%, while the worst month was Sep 2022 at -3.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MBND closed higher 52% of trading days. The best single day was Nov 10, 2022 with a return of +1.0%, while the worst single day was Apr 7, 2025 at -2.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.80% | 0.94% | -1.87% | 0.62% | 0.53% | 0.15% | 1.15% | ||||||
| 2025 | 0.02% | 1.48% | -1.82% | -0.65% | -0.04% | 0.81% | -0.60% | 0.53% | 2.04% | 1.13% | -0.23% | 0.26% | 2.90% |
| 2024 | -0.27% | 0.56% | 0.22% | -1.01% | -0.01% | 1.33% | 1.10% | 0.67% | 0.99% | -1.39% | 1.56% | -0.98% | 2.75% |
| 2023 | 2.34% | -1.95% | 1.56% | -0.08% | -0.86% | 0.84% | 0.25% | -0.92% | -2.05% | -1.18% | 5.23% | 2.54% | 5.62% |
| 2022 | -3.10% | -0.44% | -3.09% | -2.51% | 1.12% | -1.03% | 2.44% | -2.06% | -3.61% | -0.39% | 3.87% | 0.13% | -8.61% |
| 2021 | -1.63% | 0.54% | 1.11% | 0.36% | 0.20% | 0.85% | -0.32% | -0.99% | -0.41% | 0.75% | 0.06% | 0.49% |
Benchmark Metrics
SPDR Nuveen Municipal Bond ETF has an annualized alpha of 0.33%, beta of 0.03, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since February 04, 2021.
- This ETF participated in 33.96% of S&P 500 Index downside but only 15.70% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.03 may look defensive, but with R2 of 0.02 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.02 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 0.33%
- Beta
- 0.03
- R²
- 0.02
- Upside Capture
- 15.70%
- Downside Capture
- 33.96%
Expense Ratio
MBND has an expense ratio of 0.40%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MBND ranks 50 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SPDR Nuveen Municipal Bond ETF (MBND) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MBND | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 2.78 | -0.86 |
| Martin ratioReturn relative to average drawdown | 6.27 | 12.44 | -6.16 |
Dividends
Dividend History
SPDR Nuveen Municipal Bond ETF provided a 3.49% dividend yield over the last twelve months, with an annual payout of $0.95 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.95 | $0.94 | $0.75 | $0.69 | $0.43 | $0.48 |
Dividend yield | 3.49% | 3.43% | 2.72% | 2.53% | 1.61% | 1.62% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR Nuveen Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.39 | ||||||
| 2025 | $0.00 | $0.07 | $0.07 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.16 | $0.94 |
| 2024 | $0.00 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.13 | $0.75 |
| 2023 | $0.00 | $0.06 | $0.06 | $0.06 | $0.07 | $0.06 | $0.07 | $0.07 | $0.04 | $0.04 | $0.05 | $0.11 | $0.69 |
| 2022 | $0.00 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.05 | $0.11 | $0.43 |
| 2021 | $0.01 | $0.01 | $0.05 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 | $0.48 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SPDR Nuveen Municipal Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SPDR Nuveen Municipal Bond ETF was 13.18%, occurring on Oct 25, 2022. Recovery took 723 trading sessions.
The current SPDR Nuveen Municipal Bond ETF drawdown is 0.59%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -13.18%Oct 2022 | 1y 2mo | 2y 10mo | 4y 1moAug 2021 - Sep 2025 |
2026 pullback2026 | -2.44%Mar 2026 | 25d | 2mo 20d | 3mo 15dMar 2026 - Jun 2026 |
2021 pullback2021 | -2.07%Mar 2021 | 17d | 3mo 5d | 3mo 22dFeb 2021 - Jun 2021 |
2025 pullback2025 | -0.80%Sep 2025 | 8d | 19d | 27dSep 2025 - Oct 2025 |
2026 pullback2026 | -0.69%Jun 2026 | 1d | — | 7d 21hJun 2026 - now |
Drawdown Indicators
| MBND | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.18% | -56.78% | +43.60% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -9.10% | +6.66% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -18.90% | +14.33% |
Max Drawdown (5Y)Largest decline over 5 years | -13.18% | -25.43% | +12.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.59% | -1.80% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -10.71% | +6.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 2.03% | -1.28% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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