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SPDR Nuveen Bloomberg Barclays Short Term Municipa...
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM)

ETF · Currency in USD · Last updated May 14, 2025

SHM is a passive ETF by State Street tracking the investment results of the Bloomberg Municipal Managed Money Short. SHM launched on Oct 10, 2007 and has a 0.20% expense ratio.

ETF Info

ISIN

US78468R7391

CUSIP

78468R739

Issuer

State Street

Inception Date

Oct 10, 2007

Region

North America (U.S.)

Category

Municipal Bonds

Leveraged

1x

Index Tracked

Bloomberg Municipal Managed Money Short

Home Page

www.ssga.com

Asset Class

Bond

Expense Ratio

SHM has an expense ratio of 0.20%, which is considered low.

Share Price Chart

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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Popular comparisons:
SHM vs. SUB SHM vs. JMST SHM vs. SOXX SHM vs. VOO SHM vs. VCSH SHM vs. MUB SHM vs. FLOT SHM vs. VWAHX SHM vs. ON SHM vs. RSPN
Popular comparisons:
SHM vs. SUB SHM vs. JMST SHM vs. SOXX SHM vs. VOO SHM vs. VCSH SHM vs. MUB SHM vs. FLOT SHM vs. VWAHX SHM vs. ON SHM vs. RSPN

Performance

Performance Chart

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Returns By Period

SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) returned 0.79% year-to-date (YTD) and 2.57% over the past 12 months. Over the past 10 years, SHM returned 0.98% annually, underperforming the S&P 500 benchmark at 10.77%.

SHM

YTD

0.79%

1M

0.94%

6M

0.61%

1Y

2.57%

5Y*

0.41%

10Y*

0.98%

^GSPC (Benchmark)

YTD

0.08%

1M

9.75%

6M

-1.63%

1Y

12.74%

5Y*

15.66%

10Y*

10.77%

*Annualized

Monthly Returns

The table below presents the monthly returns of SHM, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.72%0.60%-0.45%-0.27%0.19%0.79%
2024-0.25%0.10%-0.32%-0.56%-0.30%0.79%0.88%1.12%0.54%-0.70%0.51%-0.58%1.22%
20231.47%-1.99%1.94%-0.62%-0.99%0.81%-0.05%-0.21%-1.20%0.14%2.58%1.12%2.92%
2022-1.93%-0.10%-1.66%-1.31%1.32%0.00%1.14%-1.66%-1.78%0.02%1.84%0.33%-3.82%
20210.10%-0.69%0.30%0.21%-0.01%0.00%0.25%-0.12%-0.26%-0.18%0.07%-0.12%-0.47%
20200.59%0.18%-0.97%0.04%2.34%-0.08%0.49%-0.23%0.03%-0.31%0.46%0.02%2.57%
20190.42%0.40%0.30%0.17%0.70%0.40%0.67%0.20%-0.39%0.27%0.09%0.36%3.64%
20180.21%0.02%-0.22%-0.31%0.58%0.37%0.25%-0.03%-0.54%-0.20%0.63%0.79%1.56%
20170.71%0.41%0.11%0.29%0.63%-0.53%0.67%0.37%-0.57%-0.11%-1.07%0.12%0.99%
20160.41%0.32%-0.36%0.28%-0.10%0.59%0.33%-0.07%-0.50%-0.22%-1.77%0.50%-0.61%
20150.74%-0.35%-0.10%-0.30%-0.09%0.44%0.33%0.11%0.12%0.33%-0.13%0.12%1.21%
20140.23%0.50%-0.69%0.28%0.37%-0.13%0.33%0.36%-0.15%0.10%0.07%-0.33%0.93%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

With an overall rank of 80, SHM is among the top 20% of ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.

The Risk-Adjusted Performance Rank of SHM is 8080
Overall Rank
The Sharpe Ratio Rank of SHM is 8585
Sharpe Ratio Rank
The Sortino Ratio Rank of SHM is 8080
Sortino Ratio Rank
The Omega Ratio Rank of SHM is 8585
Omega Ratio Rank
The Calmar Ratio Rank of SHM is 7373
Calmar Ratio Rank
The Martin Ratio Rank of SHM is 7979
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.

The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF Sharpe ratios as of May 14, 2025 (values are recalculated daily):

  • 1-Year: 1.15
  • 5-Year: 0.20
  • 10-Year: 0.30
  • All Time: 0.43

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.

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Dividends

Dividend History

SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF provided a 2.36% dividend yield over the last twelve months, with an annual payout of $1.12 per share. The fund has been increasing its distributions for 2 consecutive years.

1.00%1.50%2.00%$0.00$0.20$0.40$0.60$0.80$1.0020142015201620172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017201620152014
Dividend$1.12$0.98$0.55$0.32$0.38$0.58$0.69$0.59$0.51$0.49$0.45$0.45

Dividend yield

2.36%2.06%1.15%0.69%0.77%1.16%1.40%1.23%1.06%1.01%0.92%0.93%

Monthly Dividends

The table displays the monthly dividend distributions for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.10$0.11$0.10$0.10$0.41
2024$0.00$0.06$0.07$0.06$0.07$0.08$0.08$0.08$0.09$0.09$0.09$0.19$0.98
2023$0.00$0.03$0.05$0.04$0.04$0.04$0.04$0.04$0.05$0.05$0.05$0.12$0.55
2022$0.00$0.02$0.03$0.02$0.03$0.02$0.03$0.03$0.03$0.03$0.03$0.06$0.32
2021$0.00$0.03$0.05$0.03$0.04$0.03$0.03$0.03$0.03$0.03$0.02$0.05$0.38
2020$0.00$0.05$0.06$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.04$0.08$0.58
2019$0.00$0.05$0.07$0.05$0.06$0.05$0.06$0.06$0.06$0.06$0.06$0.12$0.69
2018$0.00$0.04$0.05$0.04$0.05$0.05$0.05$0.05$0.05$0.05$0.05$0.11$0.59
2017$0.00$0.04$0.05$0.04$0.04$0.04$0.04$0.04$0.04$0.05$0.04$0.09$0.51
2016$0.00$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.10$0.49
2015$0.00$0.03$0.05$0.03$0.04$0.03$0.04$0.03$0.04$0.04$0.04$0.08$0.45
2014$0.03$0.05$0.03$0.04$0.03$0.04$0.03$0.04$0.04$0.03$0.08$0.45

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 Bloomberg Barclays Short Term 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 Bloomberg Barclays Short Term Municipal Bond ETF was 11.61%, occurring on Mar 19, 2020. Recovery took 42 trading sessions.

The current SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF drawdown is 0.75%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-11.61%Mar 10, 20208Mar 19, 202042May 19, 202050
-6.97%Sep 24, 20086Oct 1, 200846Dec 5, 200852
-6.76%Aug 5, 2021309Oct 25, 2022468Sep 6, 2024777
-3.5%Sep 1, 201095Jan 14, 201177May 6, 2011172
-3.07%Feb 14, 200811Feb 29, 200812Mar 18, 200823

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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