SMB vs. SCMB
Compare and contrast key facts about VanEck Short Muni ETF (SMB) and Schwab Municipal Bond ETF (SCMB).
SMB and SCMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMB is a passively managed fund by VanEck that tracks the performance of the Bloomberg AMT-Free Short Continuous. It was launched on Feb 22, 2008. SCMB is a passively managed fund by Charles Schwab that tracks the performance of the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. It was launched on Oct 11, 2022. Both SMB and SCMB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SMB vs. SCMB - Performance Comparison
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SMB vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | -0.20% | 4.61% | 2.41% | 3.14% | 1.71% |
SCMB Schwab Municipal Bond ETF | -0.51% | 3.78% | 0.91% | 5.86% | 3.05% |
Returns By Period
In the year-to-date period, SMB achieves a -0.20% return, which is significantly higher than SCMB's -0.51% return.
SMB
- 1D
- 0.06%
- 1M
- -1.00%
- YTD
- -0.20%
- 6M
- 0.64%
- 1Y
- 3.71%
- 3Y*
- 2.99%
- 5Y*
- 1.07%
- 10Y*
- 1.50%
SCMB
- 1D
- 0.24%
- 1M
- -2.42%
- YTD
- -0.51%
- 6M
- 1.25%
- 1Y
- 3.88%
- 3Y*
- 2.44%
- 5Y*
- —
- 10Y*
- —
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SMB vs. SCMB - Expense Ratio Comparison
SMB has a 0.20% expense ratio, which is higher than SCMB's 0.03% 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%.
Return for Risk
SMB vs. SCMB — Risk / Return Rank
SMB
SCMB
SMB vs. SCMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Short Muni ETF (SMB) and Schwab Municipal Bond ETF (SCMB). 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.
| SMB | SCMB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.58 | 0.94 | +0.64 |
Sortino ratioReturn per unit of downside risk | 2.02 | 1.22 | +0.80 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.21 | +0.15 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 1.05 | +1.24 |
Martin ratioReturn relative to average drawdown | 8.77 | 2.98 | +5.80 |
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
| SMB | SCMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 0.94 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.90 | -0.48 |
Correlation
The correlation between SMB and SCMB is 0.62, 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
SMB vs. SCMB - Dividend Comparison
SMB's dividend yield for the trailing twelve months is around 2.68%, less than SCMB's 3.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMB VanEck Short Muni ETF | 2.68% | 2.63% | 2.38% | 1.83% | 1.32% | 1.24% | 1.50% | 1.58% | 1.49% | 1.23% | 1.12% | 1.13% |
SCMB Schwab Municipal Bond ETF | 3.38% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SMB vs. SCMB - Drawdown Comparison
The maximum SMB drawdown since its inception was -12.64%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for SMB and SCMB.
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Drawdown Indicators
| SMB | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.64% | -6.13% | -6.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.63% | -3.79% | +2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -7.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -12.64% | — | — |
Current DrawdownCurrent decline from peak | -1.00% | -2.42% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -1.14% | -1.32% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 1.34% | -0.91% |
Volatility
SMB vs. SCMB - Volatility Comparison
The current volatility for VanEck Short Muni ETF (SMB) is 0.64%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 1.47%. This indicates that SMB experiences smaller price fluctuations and is considered to be less risky than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMB | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 1.47% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 2.02% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.36% | 4.15% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 4.22% | -1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 4.22% | +0.05% |