State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

Frequently Asked Questions About SHM

What does SHM invest in?

This exchange-traded fund aims to replicate the investment performance, encompassing both price movements and yield generation, of the ICE 1-5 Year AMT-Free Broad Municipal Index, before accounting for any fees or expenses. The underlying index is comprised of a diverse array of municipal debt instruments, including general obligation bonds issued by state and local authorities, revenue bonds, pre-refunded bonds, insured bonds, and municipal lease obligations. Its constituents are weighted based on their market capitalization, and the index is subject to monthly adjustments through rebalancing and reconstitution.

What is the expense ratio of SHM?

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) charges an expense ratio of 0.20%. This is the annual fee deducted from fund assets to cover management and operations.

What is SHM's dividend yield?

SHM's trailing-twelve-month yield is 2.71%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of SHM?

Effective duration measures SHM's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. SHM's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of SHM?

SHM's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of SHM?

Yield to maturity (YTM) is the total return you'd earn from SHM if every bond in the portfolio is held to maturity at the current price. SHM's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.