SHM vs SPY

Comparison between SPDR Nuveen Bloomberg 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 +13.3% compared to +0.9%

SHM vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	SHM(ETF)	SPY(ETF)
Net Assets	$3.40B	$652B
Expense Ratio	0.20%	0.09%
Max Drawdown	11.61%	56.47%
Sharpe Ratio	0.01	2.07
5Y Beta	0.01	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	19.21%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

SHM

$3.40B

Winner

SPY

$652B

Expense Ratio

SHM

0.20%

Winner

SPY

0.09%

Max Drawdown

Winner

SHM

11.61%

SPY

56.47%

Sharpe Ratio

SHM

0.01

Winner

SPY

2.07

5Y Beta

Winner

SHM

0.01

SPY

1.00

P/E Ratio

SHM

N/A

SPY

28.24

Forward P/E

SHM

N/A

SPY

21.85

5Y Dividends CAGR

Winner

SHM

19.21%

SPY

5.43%

5Y EPS CAGR

SHM

N/A

SPY

25.79%

Debt to Equity

SHM

N/A

SPY

22.35%

P/S Ratio

SHM

N/A

SPY

3.55

P/B Ratio

SHM

N/A

SPY

5.29

SHM vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	SHM	SPY
1 month	-0.05%	+9.11%
3 months	-0.37%	+6.59%
6 months	+1.05%	+10.56%
1 year	+3.75%	+32.04%
5 years(CAGR)	+0.87%	+13.35%
10 years(CAGR)	+1.15%	+15.49%
Max(CAGR)	+1.79%	+8.50%

SHM

-0.05%

Winner

SPY

+9.11%

SHM

-0.37%

Winner

SPY

+6.59%

SHM

+1.05%

Winner

SPY

+10.56%

SHM

+3.75%

Winner

SPY

+32.04%

5Y(CAGR)

SHM

+0.87%

Winner

SPY

+13.35%

10Y(CAGR)

SHM

+1.15%

Winner

SPY

+15.49%

Max(CAGR)

SHM

+1.79%

Winner

SPY

+8.50%

SHM vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	SHM	SPY
2026	+0.45%	+8.27%
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	-0.49%	+13.59%
2015	+1.13%	+1.31%
2014	+1.01%	+14.56%
2013	+1.27%	+29.00%
2012	+1.32%	+14.17%
2011	+3.76%	+0.85%
2010	+1.19%	+13.14%
2009	+4.28%	+22.67%
2008	+5.83%	-36.25%
2007	+1.61%	+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 -0.65%.

Rank	SHM	SPY
#1	-11.61% Mar 9, 2020 - May 19, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-6.97% Sep 23, 2008 - Dec 5, 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	-3.50% Aug 31, 2010 - May 6, 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	-2.70% Aug 22, 2016 - Aug 2, 2017	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-2.63% Apr 23, 2013 - Oct 23, 2013	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-2.07% Sep 5, 2017 - Jan 11, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-1.87% Feb 13, 2009 - Apr 16, 2009	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-1.75% Mar 18, 2008 - Aug 15, 2008	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-1.67% Sep 6, 2011 - Jan 11, 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	-1.24% Sep 17, 2008 - Sep 23, 2008	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.13% Feb 26, 2026 - Mar 24, 2026	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between SHM and SPY is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

Dividend Comparison (1999 - 2026)

SHM vs SPY dividend yield comparison.

Year	SHM	SPY
2026	0.89%	0.24%
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	0.94%	2.03%
2015	0.92%	2.06%
2014	0.93%	1.87%
2013	0.97%	1.81%
2012	1.40%	2.18%
2011	1.60%	2.05%
2010	1.91%	1.80%
2009	2.03%	1.95%
2008	2.59%	3.02%
2007	0.72%	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%