SCNMvsTFIETF Comparison
VS
Sterling Capital National Municipal Bond ETF (SCNM) and State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) belong to the same industry segment: Municipal Bonds. SCNM's top 2 sector exposures are Municipal and Non-Corporate. In contrast, TFI's top sector exposures are Municipal. SCNM is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.23% for TFI. SCNM is down -2.36% year-to-date (YTD) with +$240M in YTD flows. TFI performs worse with -2.49% YTD performance, and +$84M in YTD flows. Run a side-by-side ETF comparison of SCNM and TFI 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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SCNM vs TFI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SCNM TFI | -0.79%-0.28% | -3.74%-3.60% | -2.36%-2.49% | n/a-1.96% | n/a+9.22% | n/a-3.38% |
| Flows | SCNM TFI | +$3M-$11M | +$16M-$6M | +$240M+$84M | --$246M | --$201M | --$289M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SCNM TFI | +5.48%+5.46% | n/a+3.39% | n/a+4.11% | n/a+4.15% |
| Max drawdown | SCNM TFI | -6.09%-6.18% | n/a-7.00% | n/a-7.00% | n/a-14.88% |
| Max drawdown duration | SCNM TFI | 92d92d | n/a229d | n/a229d | n/a1513d |
Trading data
SCNM | TFI | |
Last sale 10/16/2026 at 1:30 PM | $23.85 | $43.33 |
| Previous close 10/15/2026 | $23.82 | $43.31 |
| 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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SCNM
is actively managed and doesn’t replicate an indexSCNM | TFI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
SCNM | TFI | |
|---|---|---|
| Last price | $23.85 | $43.33 |
| 1D performance | +0.15% | +0.05% |
| AuM | $237.60 M | $2.94 B |
| E/R | 0.35% | 0.23% |
Characteristics
SCNM | TFI | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Sterling Capital Active ETF | State Street Investment Management |
| Benchmark | - | ICE 1+ Year AMT-Free Broad Municipal Index |
| N° of holdings | 43 | 813 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 11, 2025 | September 11, 2007 |
| ESG | No | No |
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Exposure
Countries
SCNM
USA
45.91%
Other
54.09%
TFI
USA
42.6%
Other
57.4%
Sectors
SCNM
Municipal
43.57%
Other
56.43%
TFI
Municipal
42.6%
Other
57.4%
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Diversification
SCNM
Total weight of top 15 holdings out of 15
25.62%
TFI
Total weight of top 15 holdings out of 15
2.91%
Top 15 holdings
Data as of August 31, 2026
SCNM
Federated Hermes Treasury Obligations Fund
2.34%
New Mexico Municipal Energy Acquisition Authority, FRN 1jun2054, USD (2025)
2.05%
US56035DJJ28
1.98%
California Community Choice Financing Authority, 5% 1jan2056, USD (2024H)
1.88%
US763262DL32
1.85%
Black Belt Energy Gas District, 5% 1jul2033, USD (2026)
1.71%
US57582TFG22
1.69%
US292723BN27
1.62%
Southern California Public Power Authority, 5% 1apr2055, USD (2024A)
1.61%
California Community Choice Financing Authority, 5% 1feb2055, USD (2024F)
1.52%
Georgia Housing and Finance Authority, 4.7% 1dec2055, USD (2025)
1.50%
New York Transportation Development Corp., 5% 1oct2035, USD (2020)
1.50%
US837032CT69
1.47%
Chandler Industrial Development Authority, 5% 1sep2052, USD (2022-2)
1.46%
US57584YJU47
1.45%
TFI
California, 5% 1nov2027, USD
0.23%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
0.20%
US91412HWK57
0.20%
US64972GE598
0.20%
State of Washington, 5% 1feb2028, USD (2024A)
0.20%
US373385LV30
0.20%
US574193VL92
0.20%
US55844RWX87
0.20%
US574204S201
0.19%
US677523KE13
0.19%
US764581KP80
0.19%
California, 5% 1nov2032, USD
0.18%
California Community Choice Financing Authority, 5% 1may2054, USD (2024A)
0.18%
US010831EC55
0.18%
US207758N749
0.17%
Frequently asked questions about SCNM and TFI
How have the SCNM and TFI ETFs performed in 2026?
As of October 15, 2026, SCNM is down -2.36% year-to-date (YTD), while TFI has lost -2.49%. That puts SCNM better performer ahead so far this year.
Which ETF is attracting more investor money: SCNM or TFI?
Year-to-date, the SCNM ETF saw +$240M in flows, compared to +$84M for TFI.
Which ETF is bigger: SCNM or TFI?
As of October 15, 2026, SCNM holds $237.60 M in assets under management (AUM), while TFI manages $2.94 B.
What sectors do the SCNM and TFI ETFs invest in?
SCNM leans toward sectors like Municipal. Meanwhile, TFI focuses on Municipal.
What are the top holdings of the SCNM ETF and TFI ETF?
SCNM top holdings include Federated Hermes Treasury Obligations Fund, New Mexico Municipal Energy Acquisition Authority, FRN 1jun2054, USD (2025) and US56035DJJ28. TFI holds in its top three: California, 5% 1nov2027, USD, Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B) and US91412HWK57.
Which ETF is more diversified: SCNM or TFI?
SCNM holds 98 securities with 25.62% of its assets in the top 15. TFI has 1916 securities and a top 15 weight of 2.91%.
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