SHM vs. SUB
Compare and contrast key facts about SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and iShares Short-Term National Muni Bond ETF (SUB).
SHM and SUB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SUB is a passively managed fund by iShares that tracks the performance of the ICE Short Maturity AMT-Free US National Municipal Index - Benchmark TR Gross. It was launched on Nov 5, 2008. Both SHM and SUB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SHM or SUB.
Key characteristics
| SHM | SUB | |
|---|---|---|
| YTD Return | 1.38% | 1.79% |
| 1Y Return | 3.41% | 3.46% |
| 3Y Return (Ann) | 0.18% | 0.91% |
| 5Y Return (Ann) | 0.77% | 1.11% |
| 10Y Return (Ann) | 1.00% | 1.13% |
| Sharpe Ratio | 1.65 | 2.43 |
| Sortino Ratio | 2.52 | 3.83 |
| Omega Ratio | 1.32 | 1.51 |
| Calmar Ratio | 1.04 | 2.99 |
| Martin Ratio | 5.67 | 11.74 |
| Ulcer Index | 0.65% | 0.31% |
| Daily Std Dev | 2.22% | 1.49% |
| Max Drawdown | -11.61% | -9.46% |
| Current Drawdown | -0.88% | -0.55% |
Correlation
The correlation between SHM and SUB is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SHM vs. SUB - Performance Comparison
In the year-to-date period, SHM achieves a 1.38% return, which is significantly lower than SUB's 1.79% return. Over the past 10 years, SHM has underperformed SUB with an annualized return of 1.00%, while SUB has yielded a comparatively higher 1.13% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SHM vs. SUB - Expense Ratio Comparison
SHM has a 0.20% expense ratio, which is higher than SUB's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SHM vs. SUB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) and iShares Short-Term National Muni Bond ETF (SUB). 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.
Dividends
SHM vs. SUB - Dividend Comparison
SHM's dividend yield for the trailing twelve months is around 1.89%, less than SUB's 2.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 1.89% | 1.22% | 0.76% | 1.00% | 1.65% | 1.41% | 1.33% | 1.15% | 1.02% | 0.91% | 0.92% | 0.98% |
SUB iShares Short-Term National Muni Bond ETF | 2.04% | 1.73% | 0.86% | 0.72% | 1.23% | 1.59% | 1.32% | 0.94% | 0.75% | 0.77% | 0.76% | 0.84% |
Drawdowns
SHM vs. SUB - Drawdown Comparison
The maximum SHM drawdown since its inception was -11.61%, which is greater than SUB's maximum drawdown of -9.46%. Use the drawdown chart below to compare losses from any high point for SHM and SUB. For additional features, visit the drawdowns tool.
Volatility
SHM vs. SUB - Volatility Comparison
SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) has a higher volatility of 0.86% compared to iShares Short-Term National Muni Bond ETF (SUB) at 0.65%. This indicates that SHM's price experiences larger fluctuations and is considered to be riskier than SUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.