SHM vs. BSNSX
Compare and contrast key facts about SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and Baird Strategic Municipal Bond Fund (BSNSX).
SHM is a passively managed fund by State Street that tracks the performance of the Bloomberg Municipal Managed Money Short. It was launched on Oct 10, 2007. BSNSX is managed by Baird. It was launched on Nov 14, 2019.
Performance
SHM vs. BSNSX - Performance Comparison
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SHM vs. BSNSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 0.23% | 3.95% | 1.22% | 2.92% | -3.82% | -0.37% | 2.65% | 0.53% |
BSNSX Baird Strategic Municipal Bond Fund | 0.24% | 4.83% | 2.92% | 6.53% | -5.54% | 2.00% | 8.13% | 0.85% |
Returns By Period
The year-to-date returns for both investments are quite close, with SHM having a 0.23% return and BSNSX slightly higher at 0.24%.
SHM
- 1D
- 0.11%
- 1M
- -0.82%
- YTD
- 0.23%
- 6M
- 0.58%
- 1Y
- 3.05%
- 3Y*
- 2.30%
- 5Y*
- 0.86%
- 10Y*
- 1.17%
BSNSX
- 1D
- 0.19%
- 1M
- -1.32%
- YTD
- 0.24%
- 6M
- 1.50%
- 1Y
- 4.30%
- 3Y*
- 3.97%
- 5Y*
- 1.99%
- 10Y*
- —
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SHM vs. BSNSX - Expense Ratio Comparison
SHM has a 0.20% expense ratio, which is lower than BSNSX's 0.55% expense ratio.
Return for Risk
SHM vs. BSNSX — Risk / Return Rank
SHM
BSNSX
SHM vs. BSNSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and Baird Strategic Municipal Bond Fund (BSNSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| SHM | BSNSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.68 | 1.65 | +0.04 |
Sortino ratioReturn per unit of downside risk | 2.12 | 2.15 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.48 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.65 | +0.31 |
Martin ratioReturn relative to average drawdown | 6.11 | 6.94 | -0.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHM | BSNSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 1.65 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.76 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.90 | -0.43 |
Correlation
The correlation between SHM and BSNSX is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SHM vs. BSNSX - Dividend Comparison
SHM's dividend yield for the trailing twelve months is around 2.65%, less than BSNSX's 3.33% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 2.65% | 2.61% | 2.06% | 1.15% | 0.69% | 0.86% | 1.24% | 1.40% | 1.23% | 1.06% | 0.94% | 0.92% |
BSNSX Baird Strategic Municipal Bond Fund | 3.33% | 3.32% | 3.28% | 2.99% | 1.84% | 1.33% | 1.99% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SHM vs. BSNSX - Drawdown Comparison
The maximum SHM drawdown since its inception was -11.61%, which is greater than BSNSX's maximum drawdown of -9.77%. Use the drawdown chart below to compare losses from any high point for SHM and BSNSX.
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Drawdown Indicators
| SHM | BSNSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.61% | -9.77% | -1.84% |
Max Drawdown (1Y)Largest decline over 1 year | -1.67% | -2.91% | +1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -6.67% | -9.77% | +3.10% |
Max Drawdown (10Y)Largest decline over 10 years | -11.61% | — | — |
Current DrawdownCurrent decline from peak | -0.92% | -1.51% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -1.60% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.69% | -0.15% |
Volatility
SHM vs. BSNSX - Volatility Comparison
The current volatility for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) is 0.53%, while Baird Strategic Municipal Bond Fund (BSNSX) has a volatility of 0.76%. This indicates that SHM experiences smaller price fluctuations and is considered to be less risky than BSNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHM | BSNSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.76% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.89% | 1.05% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.83% | 2.82% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.07% | 2.65% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.30% | 3.39% | -0.09% |