ATLASState Street SPDR Nuveen ICE Municipal Bond ETF (TFI): outlook, holdings and fees
State Street SPDR Nuveen ICE Municipal Bond ETF (TFI) is an exchange-traded fund and is managed by State Street Investment Management. The expense ratio is 0.21% and the yield is 3.72%. The ten largest holdings are 5% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 3, 2026
ATLAS view on TFI
| Last price | $44.04 (+0.1%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 66% |
| Likely 1-month range (50%) | $43.87 – $44.71 |
| Normal 1-day range (±1σ) | ±0.3% |
| Distribution yield | 3.72% |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
TFI fund facts
| Issuer | State Street Investment Management |
|---|---|
| Theme | Municipal bonds |
| Assets under management | $2.9B |
| Expense ratio | 0.21% |
| Number of holdings | 10 |
| Portfolio turnover | 7% |
| Inception | Sep 11, 2007 |
| Exchange | NYSE |
The fund invests substantially all, but atleast 80%, of its total assets in the securities comprising the index and in securities that the adviser determines have economic characteristics that are substantially identical to the economic characteristics of the securities that comprise the index. The index is designed to track the performance of U.S. dollar denominated investment grade tax-exempt debt publicly issued by U.S. states and territories, and their political subdivisions, in the U.S. domestic market.
TFI top holdings
| Holding | Sector | Weight |
|---|---|---|
| Ssi Us Gov Money Market Class State Street Inst Us Gov | – | 1.27% |
| TRIBOROUGH BRDG & TUNL AUTH N Y PAYROLL MOBILITY TAX 5% | – | 0.80% |
| PRIVATE COLLEGES & UNIVS AUTH GA REV 5% | – | 0.47% |
| CALIFORNIA ST 5% | – | 0.42% |
| SALT RIV PROJ AGRIC IMPT & PWR DIST ARIZ ELEC SYS REV 5% | – | 0.42% |
| INDIANA ST FIN AUTH WASTEWATER UTIL REV 5% | – | 0.42% |
| NEW YORK N Y 5% | – | 0.41% |
| BAY AREA TOLL AUTH CALIF TOLL BRDG REV 2.62% | – | 0.40% |
| NEW YORK ST URBAN DEV CORP REV 5% | – | 0.36% |
| WASHINGTON ST 5% | – | 0.37% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
TFI returns and risk
| Year to date | -3.9% |
|---|---|
| 1 year | -2.8% |
| 3 years (annualised) | +2.8% |
| 5 years (annualised) | -0.9% |
| 10 years (annualised) | +1.0% |
| Volatility (3 years) | 6.4% |
| Sharpe ratio (3 years) | -0.32 |
Past returns do not guarantee future results.
TFI: frequently asked questions
What does TFI invest in?
State Street SPDR Nuveen ICE Municipal Bond ETF invests in a portfolio of securities. Its largest holdings are Ssi Us Gov Money Market Class State Street Inst Us Gov (1.3%), TRIBOROUGH BRDG & TUNL AUTH N Y PAYROLL MOBILITY TAX 5% (0.8%), PRIVATE COLLEGES & UNIVS AUTH GA REV 5% (0.5%), CALIFORNIA ST 5% (0.4%), SALT RIV PROJ AGRIC IMPT & PWR DIST ARIZ ELEC SYS REV 5% (0.4%).
What is the TFI expense ratio?
0.21% a year: about $21.00 for every $10,000 invested.
What is the TFI dividend yield?
3.72%. ATLAS does not hold the exact distribution dates for ETFs.
Will TFI go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 66%, with a likely range (50%) of $43.87 to $44.71 from $44.04 today. It is a probability, not a prediction.
How has TFI performed?
Year to date -3.9%, one year -2.8%, three years +2.8% a year, five years -0.9% a year. Past returns do not guarantee future results.
Similar ETFs: Municipal bonds
- State Street Communication Services Select Sector SPDR ETF (XLC)
- VanEck High Yield Muni ETF (HYD)
- Invesco National AMT-Free Municipal Bond ETF (PZA)
- State Street SPDR Nuveen ICE High Yield Municipal Bond ETF (HYMB)
- State Street SPDR Nuveen ICE Short Term Municipal Bond ETF (SHM)
- PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund (MUNI)
- Franklin Dynamic Municipal Bond ETF (FLMI)
- VanEck Intermediate Muni ETF (ITM)
Educational information, not investment advice. Disclaimer