AMUNvsSHMETF Comparison
VS
ETF 2
SHM
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
This fund is part of
Municipal Bonds
-0.03%
abrdn Ultra Short Municipal Income Active ETF (AMUN) and State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) belong to the same industry segment: Municipal Bonds. AMUN's top 2 sector exposures are Municipal and Non-Corporate. In contrast, SHM's top sector exposures are Municipal. AMUN is more expensive with a Total Expense Ratio (TER) of 0.74%, versus 0.2% for SHM. AMUN is up 1.88% year-to-date (YTD) with +$25M in YTD flows. SHM performs worse with 0.84% YTD performance, and +$23M in YTD flows. Run a side-by-side ETF comparison of AMUN and SHM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AMUN vs SHM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AMUN SHM | +0.24%+0.13% | +0.65%+0.03% | +1.88%+0.84% | n/a+1.44% | n/a+8.71% | n/a+4.43% |
| Flows | AMUN SHM | +$2M+$48M | +$1M+$76M | +$25M+$23M | -+$115M | --$583M | --$1.22B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AMUN SHM | +0.34%+1.00% | n/a+0.97% | n/a+1.57% | n/a+1.65% |
| Max drawdown | AMUN SHM | -0.03%-0.66% | n/a-1.10% | n/a-2.01% | n/a-6.52% |
| Max drawdown duration | AMUN SHM | 2d58d | n/a185d | n/a66d | n/a1074d |
Trading data
AMUN | SHM | |
Last sale 9/2/2026 at 5:24 PM | $26.05 | $47.55 |
| Previous close 09/02/2026 | $26.04 | $47.54 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 3, 2026
1-year trailing difference
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AMUN
is actively managed and doesn’t replicate an indexAMUN | SHM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 5:24 PM
Live
Closed
AMUN | SHM | |
|---|---|---|
| Last price | $26.05 | $47.55 |
| 1D performance | +0.06% | +0.02% |
| AuM | $55.04 M | $3.50 B |
| E/R | 0.74% | 0.2% |
Characteristics
AMUN | SHM | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | abrdn | State Street Investment Management |
| Benchmark | - | ICE 1-5 Year AMT-Free Broad Municipal Index |
| N° of holdings | 17 | 325 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 17, 2025 | October 10, 2007 |
| ESG | No | No |
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Exposure
Countries
AMUN
USA
33.29%
Other
66.71%
SHM
USA
33.54%
Other
66.46%
Sectors
AMUN
Municipal
33.11%
Other
66.89%
SHM
Municipal
33.54%
Other
66.46%
Diversification
AMUN
Total weight of top 15 holdings out of 15
53.8%
SHM
Total weight of top 15 holdings out of 15
7.09%
Top 15 holdings
Data as of July 31, 2026
AMUN
Massachusetts Port Authority, 5% 1jul2043, USD (2016-B)
4.70%
Tennessee Energy Acquisition Corp., 5.625% 1sep2026, USD
4.14%
US46640KYU23
4.13%
US546598AA16
3.95%
US230589AB90
3.81%
Chandler Industrial Development Authority, 5% 1sep2052, USD (2022-2)
3.79%
Newark, 4.25% 5may2027, USD (2026)
3.77%
US478232SD45
3.77%
US34074EAF60
3.76%
US88035TZV50
3.76%
US7386297S79
3.75%
Mississippi Business Finance Corp., FRN 1nov2032, USD (2007A)
3.08%
US414008CX87
2.77%
PEFA Inc., 5% 1sep2049, USD (2019)
2.35%
US06964KAB26
2.26%
SHM
US84136HCT86
0.93%
California Public Works Board, 5% 1oct2027, USD
0.70%
New York Dormitory Authority, 2.5% 1jul1993, USD
0.62%
US13063ELG97
0.53%
California, 5% 1sep2028, USD
0.50%
US13063EAW66
0.46%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.41%
US91412HTD51
0.41%
City of New York, 5.7% 1feb2006, USD
0.40%
US343137RQ01
0.37%
New Jersey Transportation Trust Fund Authority, 5% 15dec2027, USD
0.37%
US61334PFH10
0.36%
US574204W906
0.36%
US13013JBJ43
0.34%
Connecticut, 5% 15jul2027, USD
0.33%
Frequently asked questions about AMUN and SHM
How have the AMUN and SHM ETFs performed in 2026?
As of September 2, 2026, AMUN is up 1.88% year-to-date (YTD), while SHM has returned 0.84%. That puts AMUN better performer ahead so far this year.
Which ETF is attracting more investor money: AMUN or SHM?
Year-to-date, the AMUN ETF saw +$25M in flows, compared to +$23M for SHM.
Which ETF is bigger: AMUN or SHM?
As of September 2, 2026, AMUN holds $55.04 M in assets under management (AUM), while SHM manages $3.50 B.
What sectors do the AMUN and SHM ETFs invest in?
AMUN leans toward sectors like Municipal. Meanwhile, SHM focuses on Municipal.
What are the top holdings of the AMUN ETF and SHM ETF?
AMUN top holdings include Massachusetts Port Authority, 5% 1jul2043, USD (2016-B), Tennessee Energy Acquisition Corp., 5.625% 1sep2026, USD and US46640KYU23. SHM holds in its top three: US84136HCT86, California Public Works Board, 5% 1oct2027, USD and New York Dormitory Authority, 2.5% 1jul1993, USD.
Which ETF is more diversified: AMUN or SHM?
AMUN holds 63 securities with 53.8% of its assets in the top 15. SHM has 1058 securities and a top 15 weight of 7.09%.
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