SMB
VanEck Vectors AMT-Free Short Municipal Index ETFSMB Fund Description
SMB tracks a market-weighted index of tax-exempt municipal bonds dated within the last 5 years and with nominal maturities of 1-6 years.
SMB Factset Analytics Insight
SMB is a cost-effective fund that provides marketlike exposure to short-term muni bonds with maturities of no more than 6 years, though it does hold a few longer-term issues in its portfolio. SMB heavily optimizes its portfolio, holding about just a handful of its index's constituents, creating a tilt toward the short end of the curve. SMB underweights the 5-7 year maturity bucket, giving it a lower average maturity and effective duration, thus lowering its interest-rate risk. Over half its portfolio is made up of revenue bonds, while GO bonds account for almost all the rest. SMB trades fairly, with workable spreads, though it isn't as liquid as some competitors. Those looking to trade in volume will likely be frustrated by the hard-to-trade nature of the underlying munis. SMB has a low expense ratio for its segment but tracking is far from ideal, often trailing its index by multiples of its expense ratio, so holding costs are a concern here.
SMB CHARTS AND PERFORMANCE
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1 Month
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3 Months
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YTD
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1 Year
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3 Years
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5 Years
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Max
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1 Month
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3 Months
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YTD
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1 Year
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3 Years
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5 Years
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Max
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SMB Top 10 Countries
SMB Top 10 Sectors
SMB Top 10 Holdings
SMB Portfolio Data
SMB Index Data
SMB Portfolio Management
SMB Tax Exposures
SMB Fund Structure
SMB Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of SMB. SMB is rated a N/A out of 5.
SMB Tradability
SMB Sector/Industry Breakdown
SMB
SMB Top 10 Holdings
SMB Top 5 Countries
SMB
SMB Top 5 Currencies
SMB
SMB Performance Statistics
SMB HOLDINGS STATISTICS
SMB AVG LIFE MATURITY DISTRIBUTION
SMB OAS BREAKDOWN
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