TSPA vs SHM

Comparison between T. ROWE PRICE U.S. EQUITY RESEARCH ETF (TSPA, ETF) and STATE STREET(R) SPDR NUVEEN ICE SHORT TERM MUNICIPAL BOND ETF (SHM, ETF).

5-Year PerformanceTSPA has outperformed SHM, delivering a return of +14.6% compared to +1.0%

TSPA vs SHM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TSPA(ETF)	SHM(ETF)
Net Assets	$3.40B	$3.50B
Expense Ratio	0.34%	0.20%
Max Drawdown	24.72%	11.61%
Sharpe Ratio	1.65	-0.38
5Y Beta	0.97	0.01
P/E Ratio	29.28	N/A
Forward P/E	21.84	N/A
PEG Ratio	0.43	N/A
5Y Dividends CAGR	N/A	18.73%
5Y EPS CAGR	29.87%	N/A
Debt to Equity	52.38%	N/A

Net Assets

TSPA

$3.40B

Winner

SHM

$3.50B

Expense Ratio

TSPA

0.34%

Winner

SHM

0.20%

Max Drawdown

TSPA

24.72%

Winner

SHM

11.61%

Sharpe Ratio

Winner

TSPA

1.65

SHM

-0.38

5Y Beta

TSPA

0.97

Winner

SHM

0.01

P/E Ratio

TSPA

29.28

SHM

N/A

Forward P/E

TSPA

21.84

SHM

N/A

PEG Ratio

TSPA

0.43

SHM

N/A

5Y Dividends CAGR

TSPA

N/A

SHM

18.73%

5Y EPS CAGR

TSPA

29.87%

SHM

N/A

Debt to Equity

TSPA

52.38%

SHM

N/A

TSPA vs SHM - Historical Returns

Returns include dividend reinvestment.

Period	TSPA	SHM
1 month	+1.61%	+0.71%
3 months	+14.34%	+0.40%
6 months	+12.18%	+1.21%
1 year	+27.26%	+3.33%
5 years(CAGR)	+14.65%	+0.95%
10 years(CAGR)	N/A	+1.18%
Max(CAGR)	+14.34%	+1.44%

Winner

TSPA

+1.61%

SHM

+0.71%

Winner

TSPA

+14.34%

SHM

+0.40%

Winner

TSPA

+12.18%

SHM

+1.21%

Winner

TSPA

+27.26%

SHM

+3.33%

5Y(CAGR)

Winner

TSPA

+14.65%

SHM

+0.95%

10Y(CAGR)

TSPA

N/A

SHM

+1.18%

Max(CAGR)

Winner

TSPA

+14.34%

SHM

+1.44%

TSPA vs SHM - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	TSPA	SHM
2026	+10.56%	+0.96%
2025	+16.49%	+3.86%
2024	+27.28%	+1.22%
2023	+30.41%	+2.81%
2022	-19.11%	-3.80%
2021	+13.72%	-0.37%
2020	N/A	+2.53%
2019	N/A	+3.60%
2018	N/A	+1.42%
2017	N/A	+1.01%
2016	N/A	-0.57%
2015	N/A	+0.67%
2014	N/A	+0.55%
2013	N/A	+0.78%
2012	N/A	+0.62%
2011	N/A	+2.92%
2010	N/A	+0.24%
2009	N/A	+3.22%
2008	N/A	+4.44%
2007	N/A	+1.25%

TSPA vs SHM Drawdown Comparison

The maximum drawdown for TSPA was -24.72%, occurring on Oct 12, 2022. Recovery took 478 trading sessions.

The maximum drawdown for SHM was -11.61%, occurring on Mar 19, 2020. Recovery took 50 trading sessions.

The current TSPA drawdown is -1.04%. The current SHM drawdown is -0.16%.

Rank	TSPA	SHM
#1	-24.72% Dec 29, 2021 - Nov 22, 2023	-11.61% Mar 9, 2020 - May 19, 2020
#2	-19.04% Feb 19, 2025 - Jun 27, 2025	-7.08% Sep 23, 2008 - Dec 23, 2008
#3	-9.24% Jan 29, 2026 - Apr 14, 2026	-6.67% Aug 3, 2021 - Sep 5, 2024
#4	-8.90% Jul 16, 2024 - Sep 19, 2024	-3.94% Aug 31, 2010 - Jun 24, 2011
#5	-5.49% Mar 28, 2024 - May 14, 2024	-3.07% Feb 13, 2008 - Mar 18, 2008
#6	-5.40% Oct 29, 2025 - Dec 11, 2025	-2.82% Sep 27, 2012 - Jan 13, 2014
#7	-4.78% Aug 30, 2021 - Oct 19, 2021	-2.70% Aug 22, 2016 - Aug 2, 2017
#8	-4.46% Jun 2, 2026 - Jun 10, 2026	-2.12% Mar 18, 2008 - Sep 17, 2008
#9	-4.16% Nov 16, 2021 - Dec 23, 2021	-2.07% Sep 5, 2017 - Jan 11, 2019
#10	-3.91% Dec 6, 2024 - Jan 22, 2025	-1.97% Feb 13, 2009 - Jul 10, 2009
#11	-2.97% Oct 8, 2025 - Oct 24, 2025	-1.74% Sep 6, 2011 - Jan 23, 2012
#12	-2.82% Jul 12, 2021 - Jul 23, 2021	-1.67% Apr 4, 2025 - Jun 12, 2025
#13	-2.77% Dec 11, 2025 - Dec 23, 2025	-1.31% Oct 3, 2024 - Feb 25, 2025
#14	-2.64% Oct 14, 2024 - Nov 6, 2024	-1.27% Feb 4, 2015 - Oct 13, 2015
#15	-2.59% Jan 12, 2026 - Jan 27, 2026	-1.24% Sep 17, 2008 - Sep 23, 2008

Correlation

Correlation between TSPA and SHM is 0.90 which considered as a strong positive correlation - the stocks tend to move together.

0.90

-101

Dividend Comparison (2007 - 2026)

TSPA vs SHM dividend yield comparison.

Year	TSPA	SHM
2026	0.00%	1.11%
2025	0.62%	2.61%
2024	0.50%	2.06%
2023	0.41%	1.15%
2022	1.16%	0.69%
2021	0.43%	0.86%
2020	0.00%	1.24%
2019	0.00%	1.40%
2018	0.00%	1.23%
2017	0.00%	1.06%
2016	0.00%	0.85%
2015	0.00%	0.46%
2014	0.00%	0.46%
2013	0.00%	0.49%
2012	0.00%	0.70%
2011	0.00%	0.80%
2010	0.00%	0.96%
2009	0.00%	1.01%
2008	0.00%	1.29%
2007	0.00%	0.36%