SMBSvsSHMETF Comparison
VS
ETF 2
SHM
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
This fund is part of
Municipal Bonds
-0.42%
Schwab Mortgage-Backed Securities ETF (SMBS) belongs to the MBS & ABS segment. State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) is part of the Municipal Bonds segment. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, SHM's top sector exposures are Municipal. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.2% for SHM. SMBS is down -0.06% year-to-date (YTD) with +$891M in YTD flows. SHM performs better with 0.85% YTD performance, and +$19M in YTD flows. Run a side-by-side ETF comparison of SMBS 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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SMBS vs SHM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMBS SHM | -0.11%+0.14% | -0.85%+0.12% | -0.06%+0.85% | +2.96%+1.45% | n/a+8.72% | n/a+4.40% |
| Flows | SMBS SHM | +$120M+$43M | +$287M+$72M | +$891M+$19M | +$1.28B+$110M | --$588M | --$1.22B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS SHM | +4.44%+1.02% | +3.94%+0.97% | n/a+1.57% | n/a+1.65% |
| Max drawdown | SMBS SHM | -1.75%-0.66% | -2.67%-1.10% | n/a-2.01% | n/a-6.53% |
| Max drawdown duration | SMBS SHM | 64d57d | 184d184d | n/a66d | n/a1094d |
Trading data
SMBS | SHM | |
Last sale 9/2/2026 at 1:30 PM | $24.79 | $47.54 |
| Previous close 09/01/2026 | $24.78 | $47.53 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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SMBS | SHM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
SMBS | SHM | |
|---|---|---|
| Last price | $24.79 | $47.54 |
| 1D performance | +0.06% | +0.02% |
| AuM | $6.53 B | $3.50 B |
| E/R | 0.03% | 0.2% |
Characteristics
SMBS | SHM | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Schwab ETFs | State Street Investment Management |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | ICE 1-5 Year AMT-Free Broad Municipal Index |
| N° of holdings | 443 | 325 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | October 10, 2007 |
| ESG | No | No |
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Exposure
Countries
SMBS
USA
34%
Other
66%
SHM
USA
33.54%
Other
66.46%
Sectors
SMBS
Industrials
33.45%
Other
66.55%
SHM
Municipal
33.54%
Other
66.46%
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Diversification
SMBS
Total weight of top 15 holdings out of 15
5.64%
SHM
Total weight of top 15 holdings out of 15
7.09%
Top 15 holdings
Data as of July 31, 2026
SMBS
G2 MB0025, 5% 20nov2054, USD (ABS)
0.67%
FR SD8469, 5.5% 1oct2054, USD (ABS)
0.49%
US31418DYX47
0.40%
US31427R6E50
0.39%
FR SD8193, 2% 1feb2052, USD (ABS)
0.37%
FR SD8106, 2% 1nov2050, USD (ABS)
0.35%
US3618N6HU47
0.35%
US3618N56H72
0.35%
US3618N53X59
0.35%
FR RQ0110, 5% 1apr2056, USD (ABS)
0.34%
FR RQ0102, 5% 1mar2056, USD (ABS)
0.34%
US3132DWDC47
0.33%
FR SD7552, 2.5% 1jan2052, USD (ABS)
0.31%
US3142J6BK85
0.30%
US3132DWAN39
0.30%
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%
US91412HTD51
0.41%
Triborough Bridge and Tunnel Authority, 5% 15nov2028, USD (2023B)
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%
US61334PFH10
0.36%
US574204W906
0.36%
US13013JBJ43
0.34%
Connecticut, 5% 15jul2027, USD
0.33%
Frequently asked questions about SMBS and SHM
How have the SMBS and SHM ETFs performed in 2026?
As of September 1, 2026, SMBS is down -0.06% year-to-date (YTD), while SHM has returned 0.85%. That puts SHM better performer ahead so far this year.
Which ETF is attracting more investor money: SMBS or SHM?
Year-to-date, the SMBS ETF saw +$891M in flows, compared to +$19M for SHM.
Which ETF is more volatile: SMBS or SHM?
Over the past year, SMBS had a volatility of 3.94%, while SHM experienced 0.97%.
Which ETF is bigger: SMBS or SHM?
As of September 1, 2026, SMBS holds $6.53 B in assets under management (AUM), while SHM manages $3.50 B.
What sectors do the SMBS and SHM ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, SHM focuses on Municipal.
What are the top holdings of the SMBS ETF and SHM ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), FR SD8469, 5.5% 1oct2054, USD (ABS) and US31418DYX47. SHM holds in its top three: US84136HCT86, California Public Works Board, 5% 1oct2027, USD and New York Dormitory Authority, 2.5% 1jul1993, USD.
Which ETF is more diversified: SMBS or SHM?
SMBS holds 1999 securities with 5.64% of its assets in the top 15. SHM has 1058 securities and a top 15 weight of 7.09%.
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Latest news about SMBS & SHM
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