See what your fund actually adds
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF SHM
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | SHM | Replication |
|---|---|---|
| Annualized growth | 0.7% | 1.7% |
| Annualized volatility | 2.5% | 2.6% |
| Sharpe ratio | 0.29 | 0.66 |
| Maximum drawdown | 5.9% | 7.1% |
| Replication fit (R²) | 0.80 · Tracking error 1.1% | |
Replication portfolio
The published portfolio below is the investable basket used to model SHM’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| VGSH | FI · Short Gov | 42.3% |
| MUB | FI · Municipal | 40.0% |
| BKLN | FI · Senior Bank Loans | 13.7% |
| STIP | FI · Short TIPS | 4.1% |