SHMvsMMITETF Comparison
ETF 1
SHM
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
This fund is part of
Municipal Bonds
-0.69%
VS
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) and NYLI MacKay Muni Intermediate ETF (MMIT) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. SHM is less expensive with a Total Expense Ratio (TER) of 0.2%, versus 0.48% for MMIT. SHM is up 0.27% year-to-date (YTD) with +$33M in YTD flows. MMIT performs worse with -1.25% YTD performance, and +$212M in YTD flows. Run a side-by-side ETF comparison of SHM and MMIT 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 MMIT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SHM MMIT | -0.77%-2.23% | -0.58%-2.62% | +0.27%-1.25% | +0.31%+0.50% | +8.10%+9.34% | +3.82%+2.72% |
| Flows | SHM MMIT | +$57M+$22M | +$86M+$68M | +$33M+$212M | +$115M+$419M | -$555M+$1.02B | -$1.21B+$1.32B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SHM MMIT | +1.28%+2.65% | +1.02%+2.14% | +1.59%+2.94% | +1.66%+2.96% |
| Max drawdown | SHM MMIT | -0.87%-3.14% | -1.10%-3.31% | -2.01%-3.83% | -6.52%-11.87% |
| Max drawdown duration | SHM MMIT | 66d66d | 193d193d | 66d178d | 1074d997d |
Trading data
SHM | MMIT | |
Last sale 9/11/2026 at 1:30 PM | $47.31 | $23.49 |
| Previous close 09/10/2026 | $47.30 | $23.41 |
| 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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MMIT
is actively managed and doesn’t replicate an indexSHM | MMIT | |
|---|---|---|
| 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 | MMIT | |
|---|---|---|
| Last price | $47.31 | $23.49 |
| 1D performance | +0.02% | +0.34% |
| AuM | $3.49 B | $1.46 B |
| E/R | 0.2% | 0.48% |
Characteristics
SHM | MMIT | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | New York Life Investments |
| Benchmark | ICE 1-5 Year AMT-Free Broad Municipal Index | - |
| N° of holdings | 325 | 193 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 10, 2007 | October 18, 2017 |
| ESG | No | No |
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Exposure
Countries
SHM
USA
33.54%
Other
66.46%
MMIT
USA
31.45%
Other
68.55%
Sectors
SHM
Municipal
33.54%
Other
66.46%
MMIT
Municipal
31.45%
Other
68.55%
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Diversification
SHM
Total weight of top 15 holdings out of 15
7.09%
MMIT
Total weight of top 15 holdings out of 15
10.56%
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%
New Jersey Transportation Trust Fund Authority, 5% 15dec2027, USD
0.37%
US343137RQ01
0.37%
US574204W906
0.36%
US61334PFH10
0.36%
US13013JBJ43
0.34%
Connecticut, 5% 15jul2027, USD
0.33%
MMIT
City of New York, 5.125% 15nov2011, USD
1.03%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
1.00%
Los Angeles Department of Water and Power, 5% 1jul2041, USD (2026)
0.91%
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
0.90%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.90%
US70879QQA49
0.86%
Black Belt Energy Gas District, 4% 1oct2052, USD
0.63%
US850578UC77
0.62%
Chicago Board of Education, 6% 1apr2046, USD (2017)
0.59%
Phoenix Industrial Development Authority, 5% 31oct2044, USD (2024)
0.57%
US09182TFT97
0.56%
US74440DFC39
0.53%
US56035DJJ28
0.52%
Main Street Natural Gas Inc., 5% 1dec2052, USD (2022B)
0.47%
National Finance Authority, 4.25% 20jul2041, USD (2026-1, A-1)
0.47%
Frequently asked questions about SHM and MMIT
How have the SHM and MMIT ETFs performed in 2026?
As of September 10, 2026, SHM is up 0.27% year-to-date (YTD), while MMIT has lost -1.25%. That puts SHM better performer ahead so far this year.
Which ETF is attracting more investor money: SHM or MMIT?
Year-to-date, the SHM ETF saw +$33M in flows, compared to +$212M for MMIT.
Which ETF is more volatile: SHM or MMIT?
Over the past year, SHM had a volatility of 1.02%, while MMIT experienced 2.14%.
Which ETF is bigger: SHM or MMIT?
As of September 10, 2026, SHM holds $3.49 B in assets under management (AUM), while MMIT manages $1.46 B.
What sectors do the SHM and MMIT ETFs invest in?
SHM leans toward sectors like Municipal. Meanwhile, MMIT focuses on Municipal.
What are the top holdings of the SHM ETF and MMIT ETF?
SHM top holdings include US84136HCT86, California Public Works Board, 5% 1oct2027, USD and New York Dormitory Authority, 2.5% 1jul1993, USD. MMIT holds in its top three: City of New York, 5.125% 15nov2011, USD, Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD and Los Angeles Department of Water and Power, 5% 1jul2041, USD (2026).
Which ETF is more diversified: SHM or MMIT?
SHM holds 1058 securities with 7.09% of its assets in the top 15. MMIT has 854 securities and a top 15 weight of 10.56%.
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Latest news about SHM & MMIT
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