ETF comparison

SHM vs VTEB

Both US Municipal Bond.

State Street SPDR Nuveen ICE Short Term Municipal Bond ETF · Vanguard Tax-Exempt Bond Index Fund ETF Shares

Holdings overlap

Weighted by ISIN/CUSIP
2.4 %

172 positions appear in both funds. Buying equal dollars of SHM and VTEB would leave roughly 2.4% of each dollar exposed to the same underlying securities.

SHM only 97.7% Shared 2.4% VTEB only 96.1%
In SHM only
816 positions
Shared
172 positions
In VTEB only
10,013 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%
VTEB

Vanguard Tax-Exempt Bond Index Fund ETF Shares

Vanguard · US Municipal Bond

97 composite / 100
Expense ratio
0.030%
Net assets
$48.79B
TTM yield
3.38%
Top-10 conc.
2.0%

Sub-score comparison

80
Cost
97
93
Tax efficiency
93
80
Liquidity
100
100
Concentration
100
Tracking quality
SHM sub-score VTEB

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

Cost difference

VTEB is 17 bps cheaper than SHM. On a $100,000 position that's about $170/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 VTEB.

Top shared holdings

172 shared in total
# Holding In SHM In VTEB Overlap
1 Los Angeles Department of Water & Power 0.16% 0.08% 0.08%
2 New Jersey Transportation Trust Fund Authority 0.11% 0.07% 0.07%
3 State of New Jersey 0.10% 0.07% 0.07%
4 Commonwealth of Pennsylvania 0.24% 0.06% 0.06%
5 University of California 0.16% 0.06% 0.06%
6 State of Illinois 0.06% 0.08% 0.06%
7 New Jersey Turnpike Authority 0.15% 0.05% 0.05%
8 Triborough Bridge & Tunnel Authority 0.33% 0.05% 0.05%
9 Arizona Industrial Development Authority 0.05% 0.05% 0.05%
10 New Jersey Economic Development Authority 0.16% 0.05% 0.05%
11 State of Connecticut Special Tax Revenue 0.09% 0.04% 0.04%
12 Connecticut State Health & Educational Facilities Authority 0.26% 0.04% 0.04%

Only in SHM

816 total
  • Southeast Energy Authority A Cooperative District 0.93%
  • City of New York NY 0.91%
  • State of California 0.70%
  • New York City Transitional Finance Authority Future Tax Secured Revenue 0.52%
  • 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%
  • State of Maryland Department of Transportation 0.36%

Only in VTEB

10,013 total
  • University of California 0.12%
  • Triborough Bridge & Tunnel Authority 0.11%
  • Colorado State Education Loan Program 0.11%
  • State of California 0.11%
  • New York City Transitional Finance Authority Future Tax Secured Revenue 0.09%
  • Dallas Independent School District 0.09%
  • Ohio Water Development Authority Water Pollution Control Loan Fund 0.08%
  • New York State Dormitory Authority 0.08%
  • New York State Dormitory Authority 0.08%
  • Ohio State University/The 0.08%

Open SHM or VTEB at a brokerage

Both funds trade commission-free at major US brokerages.

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.