SHM vs TFI: Holdings Overlap
SHMState Street® SPDR® Nuveen ICE Short Term Municipal Bond ETF
State Street (SPDR) · 967 holdings · $3.5B · as of 2026-08-07
TFIState Street® SPDR® Nuveen ICE Municipal Bond ETF
State Street (SPDR) · 1881 holdings · $3.1B · as of 2026-08-07
How similar are SHM and TFI?
State Street® SPDR® Nuveen ICE Short Term Municipal Bond ETF (SHM, by State Street (SPDR)) holds 967 positions; State Street® SPDR® Nuveen ICE Municipal Bond ETF (TFI, by State Street (SPDR)) holds 1881. They have 175 holdings in common, and by portfolio weight the two funds are 10.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 10.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 175SHM holds 967 · TFI holds 1881
- Weight in Shared Holdings
- SHM 24%·TFI 11%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in SHM
792 of 967 positions (75.2% of the fund) are not held by TFI. Showing the top 30 by weight.
- CAS 5.000 09/01/280.97%
- CAS 5.000 10/01/270.70%
- NYSGEN 5.000 03/15/290.62%
- CAS 5.000 03/01/290.53%
- NYSHGR 5.000 03/15/280.46%
- NYCUTL 5.000 06/15/290.44%
Only in TFI
1706 of 1881 positions (87.8% of the fund) are not held by SHM. Showing the top 30 by weight.
- CAS 5.000 11/01/310.24%
- NYCGEN 5.250 05/01/480.22%
- MAD 4.000 10/01/320.20%
- UNVHGR 5.500 05/15/400.20%
- WAS 5.000 02/01/280.20%
- CAS 5.000 09/01/320.20%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| SHM | +0.1% | +1.1% | +2.0% | +3.0% | +0.9% | +1.3% | 2.68% |
| TFI | -0.9% | +0.6% | +4.7% | +2.9% | -0.3% | +1.3% | 3.56% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in SHM vs TFI →
Shared Holdings(175)
The top 10 shared positions account for 17% of the overlap, led by CTSGEN 5.000 07/01/28, CAS 5.000 11/01/27 and UNVHGR 5.000 05/15/29.
| CTSGEN 5.000 07/01/28 | 0.30% | 0.24% | 0.24% |
|---|---|---|---|
| CAS 5.000 11/01/27 | 0.28% | 0.23% | 0.23% |
| UNVHGR 5.000 05/15/29 | 0.22% | 0.28% | 0.22% |
| TRBTRN 5.000 11/15/28 | 0.56% | 0.20% | 0.20% |
| NYC 5.000 08/01/29 | 0.38% | 0.17% | 0.17% |
| NYC 5.000 08/01/27 | 0.22% | 0.16% | 0.16% |
| NYC 5.000 08/01/30 | 0.14% | 0.19% | 0.14% |
| CCEDEV 4.000 05/01/53 | 0.34% | 0.14% | 0.14% |
| TGYPWR 4.000 12/01/51 | 0.18% | 0.13% | 0.13% |
| MAIUTL 5.000 05/01/54 | 0.17% | 0.13% | 0.13% |
| SEEPWR 4.000 11/01/51 | 0.11% | 0.12% | 0.11% |
| FORSCD 4.000 08/01/54 | 0.19% | 0.11% | 0.11% |
| NYSHGR 5.000 10/01/28 | 0.35% | 0.11% | 0.11% |
| TAREDU 5.000 11/15/64 | 0.15% | 0.11% | 0.11% |
| BBEUTL 5.500 06/01/49 | 0.17% | 0.10% | 0.10% |
| CASMED 5.000 10/01/50 | 0.19% | 0.10% | 0.10% |
| MAIUTL 5.000 09/01/53 | 0.27% | 0.10% | 0.10% |
| MAS 5.000 10/01/27 | 0.24% | 0.10% | 0.10% |
| MAS 5.000 11/01/28 | 0.15% | 0.10% | 0.10% |
| NCEPWR 5.000 12/01/54 | 0.18% | 0.10% | 0.10% |
| NJSTRN 5.000 06/15/29 | 0.11% | 0.10% | 0.10% |
| NYCHSG 3.750 05/01/65 | 0.16% | 0.10% | 0.10% |
| NYC 5.000 08/01/31 | 0.09% | 0.46% | 0.09% |
| LOSTRN 5.000 06/01/30 | 0.16% | 0.09% | 0.09% |
| MPNFAC 0.000 12/15/29 | 0.10% | 0.09% | 0.09% |
Frequently Asked Questions
How much do SHM and TFI overlap?
SHM and TFI overlap by 10.3% of portfolio weight. They share 175 holdings (SHM holds 967 positions and TFI holds 1881), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SHM and TFI?
The two portfolios are 10.3% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of SHM and TFI?
The largest positions held by both funds are CTSGEN 5.000 07/01/28, CAS 5.000 11/01/27, UNVHGR 5.000 05/15/29, TRBTRN 5.000 11/15/28 and NYC 5.000 08/01/29. Together the top 10 shared positions account for 17% of the total overlap.
What does SHM own that TFI doesn't?
792 positions (75.2% of SHM) are unique to SHM, led by CAS 5.000 09/01/28, CAS 5.000 10/01/27 and NYSGEN 5.000 03/15/29. In the other direction, 1706 positions (87.8% of TFI) are unique to TFI.