Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Short-Term

IBMI Top Performer Intra-day
Price $25.62
Today’s Change 0.20%
9:30am 08/20/2019
SMMU Bottom Performer Intra-day
Price $50.93
Today’s Change -0.10%
9:30am 08/20/2019

ETF.com Insight

With 8 ETFs and over $7.28B in combined AUM, the Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Short-Term segment provides exposure to the U.S. space with a focus on Investment Grade securities.

Year-to-date, the best-performing ETF in the segment is the VanEck Vectors AMT-Free Short Municipal Index ETF (SMB), with a total return of 4.32%. Meanwhile, the most popular ETF is the SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) with $3.65BB in assets under management.

Investors should take a look at the SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM). This fund has been chosen as an Analyst Pick by FactSet, thus is the best ETF for the average investor. SHM tracks an index of publicly traded short-term tax-exempt US municipal bonds rated AA- or better. SHM has an expense ratio of 0.20% and tracks the Bloomberg Barclays Municipal Managed Money Short Index.

ETF.com Efficiency Insight

The average efficiency score in the Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Short-Term segment is 92 out of 100, with the iShares Short-Term National Muni Bond ETF(SUB) obtaining the highest rating of 97 out of 100.

Costs dominate the discussion around efficiency. ETFs in the segment have an average expense ratio of 0.20% per year, with the iShares Short-Term National Muni Bond ETF (SUB) having the lowest expense ratio, charging investors 0.07% yearly.

Investors should look for funds with tight tracking, such as the iShares Short-Term National Muni Bond ETF (SUB), with a 12-month median tracking difference of -0.17%.

Tracking Difference (12 Month)

ETF.com Tradability Insight

The average tradability score in the Fixed Income: U.S. - Government, Local Authority/Municipal Investment Grade Short-Term segment is 81 out of 100, with the iShares Short-Term National Muni Bond ETF(SUB) obtaining the highest rating of 100 out of 100.

The SPDR Nuveen Bloomberg Barclays Short Term Municipal Bond ETF (SHM) is the undisputed segment leader when it comes to liquidity. The fund trades 10.32M in daily average volume. Investors should also find ample liquidity in the iShares Short-Term National Muni Bond ETF (SUB), with $9.56M in daily dollar volume.

Use limit orders to trade funds such as the VanEck Vectors AMT-Free Short Municipal Index ETF(SMB), due to their double-digit market spreads.

ETF.com/ Block Liquidity

SUB
5
4
3
2
1
SHM
5
4
3
2
1
IBMI
5
4
3
2
1
MEAR
5
4
3
2
1
IBMH
5
4
3
2
1
JMST
5
4
3
2
1
SMB
5
4
3
2
1
SMMU
5
4
3
2
1
This measurement shows how easy it is to trade 25,000 shares of each ETF.

ETF.com Fit Insight

The Bloomberg Barclays AMT-Free Short Continuous Municipal Index has been selected as the index that most accurately represents the market in question. The benchmark has been selected by the ETF Analytics team at FactSet, according to a series of guidelines to ensure this index accurately captures its market.

Investors trying to match a broad market exposure should pay attention to . This fund obtains a high Fit score and investors should capture market-like returns.

Other funds diverge from the market, by nature of their investment mandates; for example, follows a strategy and obtains a low Fit score compared with our neutral benchmark.

Index Methodology