State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 1 Iron Street Boston MA United States of America 2210
- IPO Date
- Oct 18, 2007
- CIK
- 0001064642
- Website
- ssga.com
- Similar Companies
- Business
- State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM) is an exchange-traded fund that seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the ICE 1-5 Year AMT-Free US Select Municipal Index. The fund primarily invests in short-term municipal bonds rated investment grade AA- or better, offering exposure to tax-exempt fixed income securities issued by U.S. states, local governments, and agencies to finance infrastructure, public services, and improvements such as schools, bridges, and sewer systems; these bonds are generally exempt from federal income taxes and, in some cases, state and local taxes, targeting high-tax-bracket investors seeking lower-risk income with limited interest-rate sensitivity. SHM maintains a diversified portfolio of over 800 holdings, with approximately 7.5% of assets in its top 10 positions, an expense ratio of 0.20%, and distributes monthly dividends treated as ordinary income. Launched on October 10, 2007, and listed on NYSE Arca, the ETF is part of the SPDR Series Trust, a Massachusetts business trust organized in 1998 and managed passively by SSGA Funds Management, Inc., a subsidiary of State Street Global Advisors, with Nuveen Asset Management, LLC serving as subadvisor for municipal bond expertise. Headquartered in Boston, Massachusetts, through its State Street affiliates, SHM operates in the U.S. fixed income market, focusing on the muni national short segment with assets under management of approximately $3.4-3.5 billion and over 71 million shares outstanding. Recent developments include an index methodology update from the Bloomberg Barclays index to the ICE 1-5 Year AMT-Free US Select Municipal Index, reflecting enhanced benchmark tracking; ongoing subadvisory partnership with Nuveen, solidified in State Street's ETF lineup reviews; and contextual State Street strategic shifts such as announcing closures of select underperforming municipal and ESG ETFs like the State Street SPDR Nuveen Municipal Bond ESG ETF (MBNE) in November 2025, while launching new credit-focused products and expanding internationally, including into Saudi Arabia. The fund has experienced net outflows of about $419 million over the past year amid broader market dynamics, yet sustains strong liquidity and a slight premium to NAV of around 0.05%. No major acquisitions, funding rounds, or name changes specific to SHM have occurred in the last 1-2 years.