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JIIIvsSHMETF Comparison

ETF 1

JIII

Janus Henderson Income ETF

This fund is part of

Intl Aggregate Bonds

+0.01%

Full JIII fund page

VS

ETF 2

SHM

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

This fund is part of

Municipal Bonds

-0%

Full SHM fund page

Janus Henderson Income ETF (JIII) belongs to the Intl Aggregate Bonds segment. State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) is part of the Municipal Bonds segment. JIII's top 3 sector exposures are Industrials, Finance and Energy. In contrast, SHM's top sector exposures are Municipal. JIII is more expensive with a Total Expense Ratio (TER) of 0.56%, versus 0.2% for SHM. JIII is up 0.12% year-to-date (YTD) with +$163M in YTD flows. SHM performs better with 0.16% YTD performance, and +$47M in YTD flows. Run a side-by-side ETF comparison of JIII 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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JIII vs SHM performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/16/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	JIII SHM	-0.65%-0.04%	-1.68%-0.80%	+0.12%+0.16%	+1.20%+0.56%	n/a+8.94%	n/a+4.03%
Flows	JIII SHM	+$108M+$5M	+$123M+$67M	+$163M+$47M	+$168M+$61M	--$416M	--$1.32B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	JIII SHM	+3.12%+2.39%	+2.96%+1.43%	n/a+1.65%	n/a+1.72%
Max drawdown	JIII SHM	-2.59%-2.52%	-2.59%-2.61%	n/a-2.61%	n/a-6.22%
Max drawdown duration	JIII SHM	52d64d	52d229d	n/a229d	n/a1036d

Trading data

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	JIII	SHM
Last sale 10/16/2026 at 1:30 PM	$48.24	$47.02
Previous close 10/15/2026	$48.34	$47.01
Consolidated volume 10/15/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of October 19, 2026

1-year trailing difference

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JIII

is actively managed and doesn’t replicate an index

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	JIII	SHM
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/16/2026 at 1:30 PM

Live

Closed

	JIII	SHM
Last price	$48.24	$47.02
1D performance	-0.22%	+0.02%
AuM	$303.19 M	$3.49 B
E/R	0.56%	0.2%

Characteristics

	JIII	SHM
Management strategy	Active	Passive
Provider	Janus Henderson Investors	State Street Investment Management
Benchmark	-	ICE 1-5 Year AMT-Free Broad Municipal Index
N° of holdings	218	323
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	November 12, 2024	October 10, 2007
ESG	No	No

More JIII data on Trackinsight

More SHM data on Trackinsight

Exposure

Countries

JIII

USA

28.28%

Other

71.72%

SHM

USA

31.88%

Other

68.12%

Sectors

JIII

Industrials

7.75%

Other

92.25%

SHM

Municipal

31.88%

Other

68.12%

Diversification

JIII

Total weight of top 15 holdings out of 15

28.24%

SHM

Total weight of top 15 holdings out of 15

6.56%

Top 15 holdings

Data as of August 31, 2026

JIII

US01F0526982

5.33%

US01F0506927

3.73%

US01F0426993

3.17%

US01F0606917

2.59%

US47103U7384

2.55%

US01F0326904

2.34%

US01F0306948

2.03%

US01F0406938

1.10%

US47103U7467

1.01%

US21H0326965

0.92%

US35564KPP83

0.84%

US207941AF22

0.74%

US362414AG97

0.67%

US171935AA72

0.62%

US35564KNE54

0.59%

SHM

US84136HCT86

0.92%

New York Dormitory Authority, 2.5% 1jul1993, USD

0.62%

US13063ELG97

0.51%

California, 5% 1sep2028, USD

0.48%

US13063EAW66

0.45%

US91412HTD51

0.41%

Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)

0.40%

City of New York, 5.7% 1feb2006, USD

0.39%

US343137RQ01

0.36%

US574204W906

0.36%

US61334PFH10

0.35%

US13063EUS35

0.34%

US13013JBJ43

0.33%

US74440DFN93

0.32%

Connecticut, 5% 15jul2027, USD

0.32%

Frequently asked questions about JIII and SHM

How have the JIII and SHM ETFs performed in 2026?

As of October 16, 2026, JIII is up 0.12% year-to-date (YTD), while SHM has returned 0.16%. That puts SHM better performer ahead so far this year.

Which ETF is attracting more investor money: JIII or SHM?

Year-to-date, the JIII ETF saw +$163M in flows, compared to +$47M for SHM.

Which ETF is more volatile: JIII or SHM?

Over the past year, JIII had a volatility of 2.96%, while SHM experienced 1.43%.

Which ETF is bigger: JIII or SHM?

As of October 16, 2026, JIII holds $303.19 M in assets under management (AUM), while SHM manages $3.49 B.

What sectors do the JIII and SHM ETFs invest in?

JIII leans toward sectors like Industrials. Meanwhile, SHM focuses on Municipal.

What are the top holdings of the JIII ETF and SHM ETF?

JIII top holdings include US01F0526982, US01F0506927 and US01F0426993. SHM holds in its top three: US84136HCT86, New York Dormitory Authority, 2.5% 1jul1993, USD and US13063ELG97.

Which ETF is more diversified: JIII or SHM?

JIII holds 1233 securities with 28.24% of its assets in the top 15. SHM has 1087 securities and a top 15 weight of 6.56%.

Which Types of Bond ETFs Are the Most Tax Efficient?

September 2, 2025

SHM

JIIIvsSHMETF Comparison

Janus Henderson Income ETF

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

JIII vs SHM performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the JIII and SHM ETFs performed in 2026?

As of October 16, 2026, JIII is up 0.12% year-to-date (YTD), while SHM has returned 0.16%. That puts SHM better performer ahead so far this year.

Which ETF is attracting more investor money: JIII or SHM?

Year-to-date, the JIII ETF saw +$163M in flows, compared to +$47M for SHM.

Which ETF is more volatile: JIII or SHM?

Over the past year, JIII had a volatility of 2.96%, while SHM experienced 1.43%.

Which ETF is bigger: JIII or SHM?

As of October 16, 2026, JIII holds $303.19 M in assets under management (AUM), while SHM manages $3.49 B.

What sectors do the JIII and SHM ETFs invest in?

JIII leans toward sectors like Industrials. Meanwhile, SHM focuses on Municipal.

What are the top holdings of the JIII ETF and SHM ETF?

JIII top holdings include US01F0526982, US01F0506927 and US01F0426993. SHM holds in its top three: US84136HCT86, New York Dormitory Authority, 2.5% 1jul1993, USD and US13063ELG97.

Which ETF is more diversified: JIII or SHM?

JIII holds 1233 securities with 28.24% of its assets in the top 15. SHM has 1087 securities and a top 15 weight of 6.56%.

Which Types of Bond ETFs Are the Most Tax Efficient?

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