SHM vs SPY
Comparison between STATE STREET(R) SPDR NUVEEN ICE SHORT TERM MUNICIPAL BOND ETF (SHM, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed SHM, delivering a return of +13.2% compared to +1.0%
SHM vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
SHM vs SPY - Historical Returns
Returns include dividend reinvestment.
SHM vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | SHM | SPY |
|---|---|---|
| 2026 | +0.99% | +7.95% |
| 2025 | +3.86% | +18.00% |
| 2024 | +1.22% | +25.59% |
| 2023 | +2.81% | +26.72% |
| 2022 | -3.80% | -18.64% |
| 2021 | -0.37% | +30.52% |
| 2020 | +2.53% | +17.28% |
| 2019 | +3.60% | +31.09% |
| 2018 | +1.42% | -5.24% |
| 2017 | +1.01% | +20.78% |
| 2016 | -0.57% | +13.59% |
| 2015 | +0.67% | +1.31% |
| 2014 | +0.55% | +14.56% |
| 2013 | +0.78% | +29.00% |
| 2012 | +0.62% | +14.17% |
| 2011 | +2.92% | +0.85% |
| 2010 | +0.24% | +13.14% |
| 2009 | +3.22% | +22.67% |
| 2008 | +4.44% | -36.25% |
| 2007 | +1.25% | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
SHM vs SPY Drawdown Comparison
The maximum drawdown for SHM was -11.61%, occurring on Mar 19, 2020. Recovery took 50 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current SHM drawdown is -0.12%. The current SPY drawdown is -3.18%.
| Rank | SHM | SPY |
|---|---|---|
| #1 | -11.61% Mar 9, 2020 - May 19, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -7.08% Sep 23, 2008 - Dec 23, 2008 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -6.67% Aug 3, 2021 - Sep 5, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -3.94% Aug 31, 2010 - Jun 24, 2011 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -3.07% Feb 13, 2008 - Mar 18, 2008 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -2.82% Sep 27, 2012 - Jan 13, 2014 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -2.70% Aug 22, 2016 - Aug 2, 2017 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -2.12% Mar 18, 2008 - Sep 17, 2008 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -2.07% Sep 5, 2017 - Jan 11, 2019 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -1.97% Feb 13, 2009 - Jul 10, 2009 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -1.74% Sep 6, 2011 - Jan 23, 2012 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -1.67% Apr 4, 2025 - Jun 12, 2025 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -1.31% Oct 3, 2024 - Feb 25, 2025 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -1.27% Feb 4, 2015 - Oct 13, 2015 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -1.24% Sep 17, 2008 - Sep 23, 2008 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between SHM and SPY is 0.88 which considered as a strong positive correlation - the stocks tend to move together.
Dividend Comparison (1999 - 2026)
SHM vs SPY dividend yield comparison.
| Year | SHM | SPY |
|---|---|---|
| 2026 | 1.11% | 0.50% |
| 2025 | 2.61% | 1.07% |
| 2024 | 2.06% | 1.21% |
| 2023 | 1.15% | 1.40% |
| 2022 | 0.69% | 1.65% |
| 2021 | 0.86% | 1.20% |
| 2020 | 1.24% | 1.52% |
| 2019 | 1.40% | 1.75% |
| 2018 | 1.23% | 2.04% |
| 2017 | 1.06% | 1.80% |
| 2016 | 0.85% | 2.03% |
| 2015 | 0.46% | 2.06% |
| 2014 | 0.46% | 1.87% |
| 2013 | 0.49% | 1.81% |
| 2012 | 0.70% | 2.18% |
| 2011 | 0.80% | 2.05% |
| 2010 | 0.96% | 1.80% |
| 2009 | 1.01% | 1.95% |
| 2008 | 1.29% | 3.02% |
| 2007 | 0.36% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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