ETF comparison

SHM vs SUB

Both US Municipal Bond.

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF · iShares Short-Term National Muni Bond ETF

Holdings overlap

Weighted by ISIN/CUSIP

10.1 %

247 positions appear in both funds. Buying equal dollars of SHM and SUB would leave roughly 10.1% of each dollar exposed to the same underlying securities.

SHM only

SUB only

SHM only 90.0% Shared 10.1% SUB only 90.1%

In SHM only

741 positions

Shared

247 positions

In SUB only

2,536 positions

Side by side

SHM

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF

State Street · US Municipal Bond

86 composite / 100

Expense ratio

0.20%

Net assets

$3.47B

TTM yield

2.67%

Top-10 conc.

6.1%

SUB

iShares Short-Term National Muni Bond ETF

iShares · US Municipal Bond

96 composite / 100

Expense ratio

0.070%

Net assets

$11.38B

TTM yield

2.54%

Top-10 conc.

3.6%

Sub-score comparison

Cost

Tax efficiency

Liquidity

100

Concentration

100

—

Tracking quality

—

SHM sub-score SUB

Tracking quality isn't part of the composite — see what we don't score for why.

Cost difference

SUB is 13 bps cheaper than SHM. On a $100,000 position that's about $130/yr more in fees for SHM.

Fee figure is the annual expense charged on $100,000. To see how the gap compounds over a multi-decade holding period, open the cost calculator pre-filled with SHM vs SUB.

Top shared holdings

247 shared in total

#	Holding	In SHM	In SUB	Overlap
1	Connecticut State Health & Educational Facilities Authority	0.26%	0.21%	0.21%
2	New Jersey Educational Facilities Authority	0.37%	0.19%	0.19%
3	East County Advanced Water Purification Joint Powers Authority	0.32%	0.18%	0.18%
4	State of California	0.17%	0.25%	0.17%
5	Fort Bend Independent School District	0.20%	0.17%	0.17%
6	New Jersey Economic Development Authority	0.16%	0.38%	0.16%
7	University of California	0.16%	0.26%	0.16%
8	State of California	0.16%	0.29%	0.16%
9	University of California	0.16%	0.18%	0.16%
10	State of Minnesota	0.31%	0.15%	0.15%
11	State of Georgia	0.15%	0.16%	0.15%
12	New Jersey Turnpike Authority	0.15%	0.15%	0.15%

Only in SHM

741 total

Southeast Energy Authority A Cooperative District 0.93%
City of New York NY 0.91%
State of California 0.53%
New York City Transitional Finance Authority Future Tax Secured Revenue 0.52%
Triborough Bridge & Tunnel Authority 0.51%
State of California 0.49%
State of California 0.46%
University of California 0.41%
City of New York NY 0.40%
State of Florida Department of Transportation Turnpike System Revenue 0.37%

Only in SUB

2,536 total

BlackRock Liquidity Funds 1.00%
County of King 0.36%
Empire State Development Corp. 0.27%
Pennsylvania Turnpike Commission 0.26%
State of California 0.25%
Empire State Development Corp. 0.23%
Connecticut State Health & Educational Facilities Authority 0.23%
District of Columbia Water & Sewer Authority 0.23%
New York City Transitional Finance Authority Future Tax Secured 0.22%
City of New York 0.22%

Open SHM or SUB at a brokerage

Both funds trade commission-free at major US brokerages.

Open at Fidelity

Affiliate links — opening an account through these earns PlainIndex a one-time referral. Scoring is computed before any affiliate consideration; see our methodology and funding disclosure.

Holdings overlap is the sum of min(weight_a, weight_b) over positions matched on ISIN (CUSIP fallback). Methodology: see /methodology/.

Comparing two funds doesn't endorse swapping one for the other. Tax-lot history, account type, and personal goals matter — PlainIndex publishes data and methodology, not investment advice.