SCMB ETF — Schwab Municipal Bond ETF

Schwab Municipal Bond ETF (SCMB)

SCMB is a low-cost ETF. As of August 19, 2026, its distribution rate is 3.89%, its trailing-12-month yield is 3.59%, its expense ratio is 0.03%. Dividend Vision Distribution Safety Score™ is 95/100 (Safe). Fund total return is 14.4% over the past 3.8 years, 111.7 points behind SPY at 126.1%.

At the current 3.89% distribution rate, a $10,000 investment would generate approximately $389 per year, or $32.42 per month on an equivalent basis.

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

Data as of August 19, 2026.

Fund total return is 14.4% over the past 3.8 years, 111.7 points behind SPY at 126.1%. Its deepest 1-year drawdown was 2.9%.

SCMB key facts

Data as of August 19, 2026.

Distribution Safety Score™

95 · Safe

Safety-Adjusted Yield

3.70%

Issuer

Schwab

Asset type

ETF

Asset class

Fixed Income

Inception date

10/11/2022

Expense ratio

0.03%

Distribution rate

3.89%

Distribution frequency

Monthly

Trailing yield

3.59%

Last close

$25.27

AUM

$4,033,391,067

Average volume

1292365.0

Last dividend

$0.0820

Ex-dividend date

08/03/2026

Payment date

08/07/2026

Beta

0.96

How Dividend Vision calculates yield and returns

Distribution rate (3.89%) 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 (3.59%) 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. We show a 30-day SEC yield when the fund publishes one. Schwab and other issuers may report a TTM distribution yield or SEC yield on a different date — all can be valid; they are not interchangeable. Fund total return uses split-adjusted close with distributions reinvested from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is what the fund did, not your personal gain/loss. Figures below use Dividend Vision data as of August 19, 2026.

Distribution rate methodology · Distribution Safety Score methodology · SEC yield

Sources and review

Data as of August 19, 2026.

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

SCMB's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 2.9%.

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

More funds from Schwab.