SCMB ETF — Schwab Municipal Bond ETF

Schwab Municipal Bond ETF (SCMB)

Updated October 2, 2026.

SCMB is a low-cost ETF. its distribution rate is 4.64%, its trailing-12-month yield is 3.82%, its expense ratio is 0.03%. Dividend Vision Distribution Safety Score™ is 92/100 (Safe). Total return is 9.1% over the past 4 years, 118.2 points behind SPY at 127.3%.

At the current 4.64% distribution rate, a $10,000 investment would generate approximately $464 per year, or $38.67 per month.

Schwab Municipal Bond ETF tracks the performance of U.S. investment-grade, tax-exempt municipal bonds issued by states, territories, and their political subdivisions. The fund distributes monthly income at a current moderate distribution rate and carries an exceptionally low expense ratio of 0.03%, making it cost-efficient for investors seeking tax-advantaged fixed-income exposure. It appeals to income-focused investors in higher tax brackets seeking tax-efficient bond returns.

SCMB performance versus SPY

Price and return data through 2026-10-02.

Total return is 9.1% over the past 4 years, 118.2 points behind SPY at 127.3%. Over the past year its total return — price change plus distributions reinvested — is -3.1%. Its deepest 1-year drawdown was 6.7%.

SCMB key facts

Distribution Safety Score™

92 · Safe

Safety-Adjusted Yield

4.27%

Issuer

Schwab

Asset type

ETF

Asset class

Fixed Income

Inception date

10/11/2022

Expense ratio

0.03%

Distribution rate

4.64%

Distribution frequency

Monthly

Trailing yield

3.82%

Last close

$24.03 (as of 2026-10-02)

AUM

$3,068,720,849

Average volume

7990100.0

Next dividend

$0.093

Last ex-dividend date

10/01/2026

Next payment date

10/07/2026 (as of 2026-10-07)

Beta

0.96

How Dividend Vision calculates yield and returns

Distribution rate (4.64%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (3.82%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Schwab; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

SCMB risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.7%.

Who may consider SCMB — and who may not

SCMB may suit someone looking for low-cost broad dividend exposure, a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

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