SMBvsSPABETF Comparison
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VanEck Short Muni ETF (SMB) belongs to the Municipal Bonds segment. State Street SPDR Portfolio Aggregate Bond ETF (SPAB) is part of the US Aggregate Bonds segment. SMB's top 1 sector exposures are Municipal. In contrast, SPAB's top sector exposures are Sovereign, Finance and Industrials. SMB is more expensive with a Total Expense Ratio (TER) of 0.07%, versus 0.03% for SPAB. SMB is up 0.17% year-to-date (YTD) with +$81M in YTD flows. SPAB performs worse with -1.55% YTD performance, and +$1.57B in YTD flows. Run a side-by-side ETF comparison of SMB and SPAB 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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SMB vs SPAB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMB SPAB | +0.03%-0.06% | -0.65%-1.75% | +0.17%-1.55% | +0.63%-1.68% | +9.84%+14.97% | +5.42%-1.79% |
| Flows | SMB SPAB | +$57M+$530M | +$63M+$858M | +$81M+$1.57B | +$88M+$2.03B | +$125M+$3.57B | +$58M+$5.17B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMB SPAB | +2.25%+4.38% | +1.41%+3.86% | +1.43%+4.97% | +1.53%+5.98% |
| Max drawdown | SMB SPAB | -2.28%-3.30% | -2.49%-4.68% | -2.49%-4.87% | -6.38%-17.44% |
| Max drawdown duration | SMB SPAB | 64d52d | 229d229d | 229d284d | 995d1556d |
Trading data
SMB | SPAB | |
Last sale 10/16/2026 at 1:30 PM | $17.10 | $24.59 |
| Previous close 10/15/2026 | $17.18 | $24.59 |
| 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 September 30, 2026
1-year trailing difference
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SMB | SPAB | |
|---|---|---|
| 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
SMB | SPAB | |
|---|---|---|
| Last price | $17.10 | $24.59 |
| 1D performance | -0.47% | +0.00% |
| AuM | $371.23 M | $10.42 B |
| E/R | 0.07% | 0.03% |
Characteristics
SMB | SPAB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | VanEck | State Street Investment Management |
| Benchmark | ICE Short AMT-Free Broad National Municipal Index | Bloomberg US Aggregate Bond Index |
| N° of holdings | 234 | 6931 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 22, 2008 | May 23, 2007 |
| ESG | No | No |
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Exposure
Countries
SMB
USA
72.14%
Other
27.86%
SPAB
USA
74.49%
Other
25.51%
Sectors
SMB
Municipal
72.14%
Other
27.86%
SPAB
Sovereign
45.89%
Finance
10.21%
Industrials
9.47%
Other
34.43%
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Diversification
SMB
Total weight of top 15 holdings out of 15
13.24%
SPAB
Total weight of top 15 holdings out of 15
6.59%
Top 15 holdings
Data as of August 31, 2026
SMB
US64972LAF04
1.05%
US45506EMV29
1.03%
US160853VD67
1.03%
California, 5% 1apr2030, USD
1.03%
Southeast Energy Authority, 4% 1dec2051, USD
0.95%
Massachusetts, 5% 1may2031, USD
0.91%
US48542AFE64
0.90%
New Jersey, 2% 1jun2030, USD (2021)
0.90%
California, 5% 1oct2031, USD
0.89%
US64972KKJ33
0.85%
US13078HAY80
0.79%
Massachusetts, 5% 1oct2031, USD (2022)
0.79%
King, 4% 1jul2030, USD
0.72%
Black Belt Energy Gas District, 4% 1oct2052, USD (2021)
0.72%
Connecticut, 3% 15jan2032, USD
0.70%
SPAB
USA, Notes 3.5% 15dec2028, USD (AV-2028)
0.74%
US91282CRJ26
0.58%
USA, Notes 3.625% 31dec2030, USD (AH-2030)
0.55%
US01F0526982
0.50%
USA, Notes 3.375% 30nov2027, USD (BL-2027)
0.45%
USA, Notes 4.375% 30nov2028, USD (AG-2028)
0.41%
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.41%
USA, Notes 3.875% 31mar2031, USD (W-2031)
0.40%
US01F0506927
0.38%
USA, Notes 3.375% 31dec2027, USD (BM-2027)
0.37%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.37%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.37%
USA, Notes 3.625% 30sep2031, USD (Q-2031)
0.36%
USA, Notes 4% 15feb2034, USD (B-2034)
0.35%
USA, Notes 4% 30jun2032, USD (M-2032)
0.35%
Frequently asked questions about SMB and SPAB
How have the SMB and SPAB ETFs performed in 2026?
As of October 16, 2026, SMB is up 0.17% year-to-date (YTD), while SPAB has lost -1.55%. That puts SMB better performer ahead so far this year.
Which ETF is attracting more investor money: SMB or SPAB?
Year-to-date, the SMB ETF saw +$81M in flows, compared to +$1.57B for SPAB.
Which ETF is more volatile: SMB or SPAB?
Over the past year, SMB had a volatility of 1.41%, while SPAB experienced 3.86%.
Which ETF is bigger: SMB or SPAB?
As of October 16, 2026, SMB holds $371.23 M in assets under management (AUM), while SPAB manages $10.42 B.
What sectors do the SMB and SPAB ETFs invest in?
SMB leans toward sectors like Municipal. Meanwhile, SPAB focuses on Sovereign, Finance and Industrials.
What are the top holdings of the SMB ETF and SPAB ETF?
SMB top holdings include US64972LAF04, US45506EMV29 and US160853VD67. SPAB holds in its top three: USA, Notes 3.5% 15dec2028, USD (AV-2028), US91282CRJ26 and USA, Notes 3.625% 31dec2030, USD (AH-2030).
Which ETF is more diversified: SMB or SPAB?
SMB holds 330 securities with 13.24% of its assets in the top 15. SPAB has 8475 securities and a top 15 weight of 6.59%.
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