SHM vs. XLE
SHM (SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - SHM is a Municipal Bonds fund tracking the Bloomberg Municipal Managed Money Short, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, SHM returned 1.10%/yr vs 10.52%/yr for XLE. Their -0.05 correlation means they have often moved in opposite directions in the past. SHM charges 0.20%/yr vs 0.08%/yr for XLE.
Performance
SHM vs. XLE - Performance Comparison
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Returns By Period
In the year-to-date period, SHM achieves a 0.54% return, which is significantly lower than XLE's 35.03% return. Over the past 10 years, SHM has underperformed XLE with an annualized return of 1.10%, while XLE has yielded a comparatively higher 10.52% annualized return.
SHM
- 1D
- 0.00%
- 1M
- -0.61%
- 6M
- -0.17%
- YTD
- 0.54%
- 1Y
- 1.54%
- 3Y*
- 2.72%
- 5Y*
- 0.82%
- 10Y*
- 1.10%
- ALL TIME*
- 1.76%
XLE
- 1D
- 1.00%
- 1M
- 11.89%
- 6M
- 18.26%
- YTD
- 35.03%
- 1Y
- 43.49%
- 3Y*
- 14.62%
- 5Y*
- 23.67%
- 10Y*
- 10.52%
- ALL TIME*
- 8.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.50M | $14.07M | $11.05M | |
| $1.70B | $1.73B | $1.97B |
SHM vs. XLE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 0.54% | 3.95% | 1.22% | 2.92% | -3.82% | -0.37% | 2.65% | 3.64% | 1.56% | 0.99% |
XLE State Street Energy Select Sector SPDR ETF | 35.03% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between SHM and XLE is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2007 | -0.05 |
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Return for Risk
SHM vs. XLE — Risk / Return Rank
SHM
XLE
SHM vs. XLE - 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 State Street Energy Select Sector SPDR ETF (XLE). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHM | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.74 | -1.07 |
| Martin ratioReturn relative to average drawdown | 4.09 | 7.32 | -3.22 |
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Drawdowns
SHM vs. XLE - Drawdown Comparison
The maximum SHM drawdown since its inception was -11.61%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for SHM and XLE.
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Drawdown Indicators
| SHM | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.61% | -71.26% | +59.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -14.98% | +13.85% |
Max Drawdown (3Y)Largest decline over 3 years | -1.67% | -20.14% | +18.47% |
Max Drawdown (5Y)Largest decline over 5 years | -6.67% | -26.04% | +19.37% |
Max Drawdown (10Y)Largest decline over 10 years | -11.61% | -66.81% | +55.20% |
Current DrawdownCurrent decline from peak | -0.63% | -4.13% | +3.50% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -17.93% | +16.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 5.62% | -5.16% |
Volatility
SHM vs. XLE - Volatility Comparison
The current volatility for SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) is 0.52%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 5.85%. This indicates that SHM experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHM | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 5.85% | -5.33% |
Volatility (6M)Calculated over the trailing 6-month period | 0.96% | 16.71% | -15.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.34% | 21.05% | -19.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.08% | 25.77% | -23.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.31% | 29.57% | -26.26% |
SHM vs. XLE - Expense Ratio Comparison
SHM has a 0.20% expense ratio, which is higher than XLE's 0.08% 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%.
Dividends
SHM vs. XLE - Dividend Comparison
SHM's dividend yield for the trailing twelve months is around 2.68%, more than XLE's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHM SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF | 2.47% | 2.61% | 2.06% | 1.15% | 0.69% | 0.86% | 1.24% | 1.40% | 1.23% | 1.06% | 0.94% | 0.92% |
XLE State Street Energy Select Sector SPDR ETF | 2.55% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
SHM and XLE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLE has higher volatility (5.85%) compared to SHM (0.52%). In terms of maximum drawdown, SHM dropped -11.61% vs XLE's -71.26%.
On 10-year performance, XLE leads with 10.52% vs 1.10% for SHM. On fees, XLE is cheaper at 0.08% per year. On volatility, SHM has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XLE has performed better with a 10.52% return vs 1.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLE is cheaper with a 0.08% expense ratio, compared with 0.20% for SHM.
XLE has the higher dividend yield at 2.55%, compared with 2.47% for SHM.
SHM is categorized as Municipal Bonds, while XLE is Energy Equities. SHM tracks Bloomberg Municipal Managed Money Short, while XLE tracks Energy Select Sector Index. Their fees differ too: 0.20% for SHM and 0.08% for XLE.
XLE currently has the higher Sharpe Ratio (1.95 vs 1.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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