SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with SHM. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SHM
SHM charges 0.20% annually. There are 50 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 48.80B | Aug 2015 | SHM vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.93B | Oct 2022 | SHM vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | SHM vs FMUN | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 130.20M | Aug 2025 | SHM vs TAXS | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 60.01M | Aug 2025 | SHM vs TAXT |
Best Risk-Adjusted Alternatives to SHM
SHM has a PortfoliosLab risk / return rank of 54. There are 95 ETFs in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2026 Municipal Bond ETF | 97 | 8.74M | Sep 2024 | SHM vs MYMF | |
| State Street My2027 Municipal Bond ETF | 97 | 8.63M | Sep 2024 | SHM vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | SHM vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 246.47M | Nov 2018 | SHM vs FUMB | |
| Goldman Sachs Ultra Short Municipal Income ETF | 97 | 54.13M | Jul 2024 | SHM vs GUMI |
Top Performing SHM Alternatives (YTD)
SHM is at 0.54% YTD. There are 81 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.71%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| X-Square Municipal Income Tax Free ETF | 3.71% | 4.54M | May 2023 | SHM vs ZTAX | |
| NYLI MacKay Muni Allocation ETF | 2.42% | 28.01M | Dec 2025 | SHM vs MMMA | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 2.38% | 142.95M | Jun 2013 | SHM vs RVNU | |
| Overlay Shares Municipal Bond ETF | 2.26% | 30.60M | Sep 2019 | SHM vs OVM | |
| T. Rowe Price High Income Municipal ETF | 2.25% | 26.19M | Nov 2025 | SHM vs THYM |
Lowest Volatility Alternatives to SHM
SHM has 1.34% 1-year volatility. There are 22 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 34.95M | Sep 2025 | SHM vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.69% | 8.74M | Sep 2024 | SHM vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.72% | 445.30M | Oct 2007 | SHM vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.76% | 30.06M | Jul 2025 | SHM vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.84% | 246.47M | Nov 2018 | SHM vs FUMB |
Lowest Drawdown Alternatives to SHM
SHM has a 1-year max drawdown of -1.13%. There are 20 ETFs in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 246.47M | Nov 2018 | SHM vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 270.83M | Sep 2019 | SHM vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 54.13M | Jul 2024 | SHM vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.63M | Sep 2024 | SHM vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 576.01M | Apr 2019 | SHM vs IBMO |
Other ETFs from State Street
The 10 most viewed State Street ETFs shown here include SPY, GLD, XLK and span 10 categories. AUM among these funds goes as high as $789B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| State Street SPDR S&P 500 ETF | S&P 500 | 67 | 10.13% | 789.06B | Jan 1993 | SHM vs SPY | |
| SPDR Gold Shares | Gold, Precious Metals | 30 | -6.25% | 130.32B | Nov 2004 | SHM vs GLD | |
| State Street Technology Select Sector SPDR ETF | Technology Equities | 55 | 22.09% | 115.56B | Dec 1998 | SHM vs XLK | |
| State Street SPDR Portfolio S&P 500 Growth ETF | S&P 500, Large Cap Growth Equities | 43 | 10.06% | 51.09B | Sep 2000 | SHM vs SPYG | |
| State Street SPDR Portfolio S&P 500 ETF | S&P 500 | 68 | 10.15% | 160.81B | Nov 2005 | SHM vs SPYM | |
| State Street SPDR Portfolio S&P 500 High Dividend ... | S&P 500, Dividend | 78 | 16.95% | 8.75B | Oct 2015 | SHM vs SPYD | |
| State Street Energy Select Sector SPDR ETF | Energy Equities | 76 | 35.03% | 38.64B | Dec 1998 | SHM vs XLE | |
| SPDR Gold MiniShares Trust | Gold, Precious Metals | 31 | -6.13% | 27.37B | Jun 2018 | SHM vs GLDM | |
| State Street Utilities Select Sector SPDR ETF | Utilities Equities | 21 | 5.28% | 23.07B | Dec 1998 | SHM vs XLU | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | Government Bonds, Ultrashort Bond | 100 | 2.08% | 47.03B | May 2007 | SHM vs BIL |
Often Compared With SHM
Investors most often compare SHM with SUB, SOXX, JMST. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.
Compare SHM with Any Fund or Stock
Compare SHM with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SHM with funds that move differently
SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SHM.
Explore SHM Diversifiers