- Issuer
- State Street
- Inception Date
- Apr 4, 2022
- 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
- $9M
Share Price Chart
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Performance
MBNE Performance Chart
SPDR Nuveen Municipal Bond ESG ETF (MBNE) is up 0.8% since the beginning of the year. MBNE is currently trading at $29 per share.
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Returns By Period
SPDR Nuveen Municipal Bond ESG ETF (MBNE) has returned 0.84% so far this year and 4.86% over the past 12 months.
SPDR Nuveen Municipal Bond ESG ETF
- 1D
- 0.00%
- 1M
- 0.03%
- YTD
- 0.84%
- 6M
- 1.25%
- 1Y
- 4.86%
- 3Y*
- 2.97%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
MBNE Monthly Returns History
Based on dividend-adjusted daily data since Apr 5, 2022, MBNE's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, an investment would double in approximately 28.9 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2023 with a return of +5.2%, while the worst month was Sep 2022 at -3.2%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MBNE closed higher 54% of trading days. The best single day was Apr 9, 2025 with a return of +2.0%, while the worst single day was Apr 10, 2025 at -2.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.64% | 1.19% | -1.71% | 0.56% | 0.19% | 0.00% | 0.84% | ||||||
| 2025 | 0.54% | 1.16% | -2.40% | -0.77% | 0.21% | 0.56% | -0.71% | 1.12% | 1.76% | 1.13% | 0.18% | -0.31% | 2.45% |
| 2024 | -0.32% | 0.15% | 0.20% | -1.08% | 0.02% | 1.41% | 0.90% | 0.54% | 0.96% | -1.53% | 1.44% | -1.39% | 1.27% |
| 2023 | 2.33% | -2.02% | 1.86% | -0.12% | -0.86% | 0.92% | 0.25% | -1.08% | -2.21% | -1.06% | 5.24% | 2.71% | 5.82% |
| 2022 | -1.42% | 1.40% | -0.98% | 2.38% | -1.82% | -3.22% | -0.89% | 3.76% | 0.26% | -0.71% |
Benchmark Metrics
SPDR Nuveen Municipal Bond ESG ETF has an annualized alpha of 1.60%, beta of 0.05, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since April 06, 2022.
- This ETF participated in 33.75% of S&P 500 Index downside but only 20.33% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.07 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 0.07 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
- 1.60%
- Beta
- 0.05
- R²
- 0.07
- Upside Capture
- 20.33%
- Downside Capture
- 33.75%
Expense Ratio
MBNE has an expense ratio of 0.43%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MBNE ranks 49 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 ESG ETF (MBNE) and compare them to S&P 500 Index.
| MBNE | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.71 | 2.39 | -0.68 |
Sortino ratioReturn per unit of downside risk | 2.40 | 3.25 | -0.85 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.43 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.42 | 3.11 | -0.69 |
Martin ratioReturn relative to average drawdown | 7.49 | 14.38 | -6.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
SPDR Nuveen Municipal Bond ESG ETF provided a 3.15% dividend yield over the last twelve months, with an annual payout of $0.91 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.91 | $1.05 | $0.98 | $0.90 | $0.53 |
Dividend yield | 3.15% | 3.63% | 3.32% | 3.01% | 1.81% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR Nuveen Municipal Bond ESG 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 | $0.07 | $0.08 | $0.07 | $0.07 | $0.00 | $0.29 | ||||||
| 2025 | $0.00 | $0.08 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.09 | $0.18 | $1.05 |
| 2024 | $0.00 | $0.08 | $0.08 | $0.08 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.17 | $0.98 |
| 2023 | $0.00 | $0.07 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.05 | $0.07 | $0.15 | $0.90 |
| 2022 | $0.03 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.14 | $0.53 |
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 ESG 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 ESG ETF was 6.19%, occurring on Oct 26, 2022. Recovery took 65 trading sessions.
The current SPDR Nuveen Municipal Bond ESG ETF drawdown is 1.04%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -6.19%Oct 2022 | 2mo 24d | 3mo 7d | 6mo 1dAug 2022 - Jan 2023 |
2023 pullback2023 | -5.10%Oct 2023 | 6mo 17d | 1mo 1d | 7mo 18dApr 2023 - Dec 2023 |
2025 selloff2025 | -4.98%Apr 2025 | 4mo 1d | 6mo 6d | 10mo 7dDec 2024 - Oct 2025 |
Bear market2022 | -2.77%May 2022 | 1mo 10d | 15d | 1mo 25dApr 2022 - Jun 2022 |
Bear market2022 | -2.28%Jun 2022 | 8d | 28d | 1mo 6dJun 2022 - Jul 2022 |
Drawdown Indicators
| MBNE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.19% | -56.78% | +50.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -9.10% | +7.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.98% | -18.90% | +13.92% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.04% | 0.00% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -1.41% | -10.72% | +9.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 1.97% | -1.32% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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