SHMvsFECMETF Comparison
ETF 1
SHM
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
This fund is part of
Municipal Bonds
+0.14%
VS
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) and First Eagle Core Municipal ETF (FECM) belong to the same industry segment: Municipal Bonds. SHM's top 1 sector exposures are Municipal. In contrast, FECM's top sector exposures are Municipal and Non-Corporate. SHM is less expensive with a Total Expense Ratio (TER) of 0.2%, versus 0.25% for FECM. Run a side-by-side ETF comparison of SHM and FECM 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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SHM vs FECM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SHM FECM | -0.70%-1.88% | -0.51%n/a | +0.35%n/a | +0.31%n/a | +8.18%n/a | +3.89%n/a |
| Flows | SHM FECM | +$57M- | +$86M- | +$33M- | +$115M- | -$555M- | -$1.22B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SHM FECM | +1.29%n/a | +1.03%n/a | +1.59%n/a | +1.66%n/a |
| Max drawdown | SHM FECM | -0.87%n/a | -1.10%n/a | -2.01%n/a | -6.52%n/a |
| Max drawdown duration | SHM FECM | 67dn/a | 194dn/a | 66dn/a | 1074dn/a |
Trading data
SHM | FECM | |
Last sale 9/11/2026 at 1:30 PM | $47.31 | $24.32 |
| Previous close 09/10/2026 | $47.30 | $24.21 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 12, 2026
1-year trailing difference
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FECM
is actively managed and doesn’t replicate an indexSHM | FECM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
SHM | FECM | |
|---|---|---|
| Last price | $47.31 | $24.32 |
| 1D performance | +0.02% | +0.45% |
| AuM | $3.50 B | $15.17 M |
| E/R | 0.2% | 0.25% |
Characteristics
SHM | FECM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | First Eagle Investments |
| Benchmark | ICE 1-5 Year AMT-Free Broad Municipal Index | - |
| N° of holdings | 325 | 49 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 10, 2007 | July 1, 2026 |
| ESG | No | No |
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Exposure
Countries
SHM
USA
33.54%
Other
66.46%
FECM
USA
40.18%
Other
59.82%
Sectors
SHM
Municipal
33.54%
Other
66.46%
FECM
Municipal
33.69%
Other
66.31%
Diversification
SHM
Total weight of top 15 holdings out of 15
7.09%
FECM
Total weight of top 15 holdings out of 15
31.69%
Top 15 holdings
Data as of July 31, 2026
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%
US574204W906
0.36%
US61334PFH10
0.36%
US13013JBJ43
0.34%
Connecticut, 5% 15jul2027, USD
0.33%
FECM
JPMorgan U.S. Government Money Market Fund
6.49%
US932423XQ48
2.40%
US759831CZ11
2.16%
New York Dormitory Authority, 5% 15feb2037, USD (2016A)
1.99%
US20775DX645
1.96%
US45204F3W38
1.95%
US248866M693
1.93%
New Jersey Transportation Trust Fund Authority, 5% 15jun2045, USD
1.93%
US490229AR23
1.67%
US34073XKE75
1.67%
San Jose (CA), 5% 1mar2047, USD (2017A)
1.64%
US483270HS69
1.51%
New York Dormitory Authority, 3.25% 1jul2034, USD
1.49%
US71883MPY48
1.46%
Illinois Toll Highway Authority, 5% 1jan2041, USD
1.45%
Frequently asked questions about SHM and FECM
Which ETF is bigger: SHM or FECM?
As of September 11, 2026, SHM holds $3.50 B in assets under management (AUM), while FECM manages $15.17 M.
What sectors do the SHM and FECM ETFs invest in?
SHM leans toward sectors like Municipal. Meanwhile, FECM focuses on Municipal.
What are the top holdings of the SHM ETF and FECM ETF?
SHM top holdings include US84136HCT86, California Public Works Board, 5% 1oct2027, USD and New York Dormitory Authority, 2.5% 1jul1993, USD. FECM holds in its top three: JPMorgan U.S. Government Money Market Fund, US932423XQ48 and US759831CZ11.
Which ETF is more diversified: SHM or FECM?
SHM holds 1058 securities with 7.09% of its assets in the top 15. FECM has 127 securities and a top 15 weight of 31.69%.
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