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TMNSvsSPMBETF Comparison

ETF 1

TMNS

T. Rowe Price Short Municipal Income ETF

This fund is part of

Municipal Bonds

-0.03%

Full TMNS fund page

VS

ETF 2

SPMB

State Street State Street SPDR Portfolio Mortgage Backed Bond ETF

This fund is part of

MBS & ABS

+0.12%

Full SPMB fund page

T. Rowe Price Short Municipal Income ETF (TMNS) belongs to the Municipal Bonds segment. State Street State Street SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is part of the MBS & ABS segment. TMNS's top 1 sector exposures are Municipal. In contrast, SPMB's top sector exposures are Industrials, Finance and Government Agencies. TMNS is more expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.04% for SPMB. TMNS is up 1.25% year-to-date (YTD) with +$2M in YTD flows. SPMB performs worse with -0.14% YTD performance, and +$644M in YTD flows. Run a side-by-side ETF comparison of TMNS and SPMB 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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TMNS vs SPMB performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 09/01/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	TMNS SPMB	+0.18%+0.01%	+0.18%-0.85%	+1.25%-0.14%	n/a+2.99%	n/a+15.40%	n/a+0.33%
Flows	TMNS SPMB	+$1M+$169M	+$2M+$280M	+$2M+$644M	-+$941M	-+$2.57B	-+$3.68B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	TMNS SPMB	+1.12%+4.73%	n/a+4.26%	n/a+5.92%	n/a+6.71%
Max drawdown	TMNS SPMB	-0.76%-1.90%	n/a-2.98%	n/a-5.50%	n/a-17.38%
Max drawdown duration	TMNS SPMB	57d65d	n/a185d	n/a75d	n/a1500d

Trading data

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	TMNS	SPMB
Last sale 9/3/2026 at 1:30 PM	$49.62	$21.86
Previous close 09/02/2026	$49.67	$21.82
Consolidated volume 09/02/2026
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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TMNS

is actively managed and doesn’t replicate an index

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	TMNS	SPMB
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/3/2026 at 1:30 PM

Live

Closed

	TMNS	SPMB
Last price	$49.62	$21.86
1D performance	-0.08%	+0.18%
AuM	$23.58 M	$7.10 B
E/R	0.18%	0.04%

Characteristics

	TMNS	SPMB
Management strategy	Active	Passive
Provider	T. Rowe Price	State Street Investment Management
Benchmark	-	Bloomberg U.S. MBS Index
N° of holdings	56	554
Asset class	-	Bonds
Trailing 12m distribution yield	Join	Join
Inception date	November 19, 2025	January 15, 2009
ESG	No	No

More TMNS data on Trackinsight

More SPMB data on Trackinsight

Exposure

Countries

TMNS

USA

31.14%

Other

68.86%

SPMB

USA

32.64%

Other

67.36%

Sectors

TMNS

Municipal

31.14%

Other

68.86%

SPMB

Industrials

32.31%

Other

67.69%

Diversification

TMNS

Total weight of top 15 holdings out of 15

28.33%

SPMB

Total weight of top 15 holdings out of 15

9.28%

Top 15 holdings

Data as of July 31, 2026

TMNS

US425507GL89

3.14%

US23503CFK80

2.35%

US735240L842

2.25%

New York Housing Finance Agency, FRN 1may2049, USD

2.21%

US09182TCG04

1.98%

California Community Choice Financing Authority, 5.5% 1oct2054, USD (2023F)

1.93%

US650116DJ25

1.88%

US735389D620

1.77%

New York Mortgage Agency, 3.4% 1oct2030, USD

1.74%

Illinois Toll Highway Authority, 5% 1jan2031, USD

1.64%

US546068AZ00

1.63%

US64988YQ831

1.48%

US04052FDU66

1.46%

Puerto Rico, 5.75% 1jul2031, USD

1.45%

US187145WS29

1.43%

SPMB

US3142J6C840

1.16%

US01F0526800

0.86%

FN MA4547, 2% 1feb2052, USD (ABS)

0.78%

US3142J6BK85

0.76%

US01F0506844

0.70%

FR SD8212, 2.5% 1may2052, USD (ABS)

0.60%

US3132DWMY65

0.55%

G2 MB0424, 5.5% 20jun2055, USD (ABS)

0.54%

FN MA4701, 4.5% 1aug2052, USD (ABS)

0.51%

US01F0606834

0.50%

US21H0506806

0.49%

FN FA0608, 5.5% 1feb2055, USD (ABS)

0.49%

FN MA4465, 2% 1nov2051, USD (ABS)

0.47%

FN FS2040, 2% 1feb2052, USD (ABS)

0.44%

US3132DWKV45

0.43%

Frequently asked questions about TMNS and SPMB

How have the TMNS and SPMB ETFs performed in 2026?

As of September 1, 2026, TMNS is up 1.25% year-to-date (YTD), while SPMB has lost -0.14%. That puts TMNS better performer ahead so far this year.

Which ETF is attracting more investor money: TMNS or SPMB?

Year-to-date, the TMNS ETF saw +$2M in flows, compared to +$644M for SPMB.

Which ETF is bigger: TMNS or SPMB?

As of September 1, 2026, TMNS holds $23.58 M in assets under management (AUM), while SPMB manages $7.10 B.

What sectors do the TMNS and SPMB ETFs invest in?

TMNS leans toward sectors like Municipal. Meanwhile, SPMB focuses on Industrials.

What are the top holdings of the TMNS ETF and SPMB ETF?

TMNS top holdings include US425507GL89, US23503CFK80 and US735240L842. SPMB holds in its top three: US3142J6C840, US01F0526800 and FN MA4547, 2% 1feb2052, USD (ABS).

TMNSvsSPMBETF Comparison

T. Rowe Price Short Municipal Income ETF

State Street State Street SPDR Portfolio Mortgage Backed Bond ETF

TMNS vs SPMB performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the TMNS and SPMB ETFs performed in 2026?

As of September 1, 2026, TMNS is up 1.25% year-to-date (YTD), while SPMB has lost -0.14%. That puts TMNS better performer ahead so far this year.

Which ETF is attracting more investor money: TMNS or SPMB?

Year-to-date, the TMNS ETF saw +$2M in flows, compared to +$644M for SPMB.

Which ETF is bigger: TMNS or SPMB?

As of September 1, 2026, TMNS holds $23.58 M in assets under management (AUM), while SPMB manages $7.10 B.

What sectors do the TMNS and SPMB ETFs invest in?

TMNS leans toward sectors like Municipal. Meanwhile, SPMB focuses on Industrials.

What are the top holdings of the TMNS ETF and SPMB ETF?

TMNS top holdings include US425507GL89, US23503CFK80 and US735240L842. SPMB holds in its top three: US3142J6C840, US01F0526800 and FN MA4547, 2% 1feb2052, USD (ABS).

Which ETF is more diversified: TMNS or SPMB?

TMNS holds 183 securities with 28.33% of its assets in the top 15. SPMB has 2713 securities and a top 15 weight of 9.28%.

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