SMBS vs SPMB
Schwab Mortgage-Backed Securities ETF against State Street SPDR Portfolio Mortgage Backed Bond ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
22%
810 shared positions
Fee gap
1 bp
SMBS is cheaper
1-year return gap
0.6 pts
SPMB is ahead
Larger fund
SPMB
$6.9B
Side by side
| SMBS | SPMB | |
|---|---|---|
| Fund | Schwab Mortgage-Backed Securities ETF | State Street SPDR Portfolio Mortgage Backed Bond ETF |
| Issuer | Schwab | State Street SPDR |
| Category | Mortgage & Securitized | Mortgage & Securitized |
| Expense ratio | 0.03% | 0.04% |
| Assets | $6.4B | $6.9B |
| Average daily dollar volume | $42M | $51M |
| Listed | Nov 18, 2024 | Jan 15, 2009 |
| FrenzyCap score | 94 | 95 |
| 1-month return | −1.2% | −1.1% |
| 3-month return | −2.8% | −2.6% |
| Year to date | −5.4% | −4.7% |
| 1-year return | −6.3% | −5.7% |
| 30-day volatility | 6.8% | 6.6% |
| Worst drawdown, 1 year | −8.4% | −8.0% |
| Trailing 12-month yield | 5.39% | 4.30% |
| Holdings | 4,197 | 2,763 |
| Top 10 weight | 2.9% | 7.2% |
| Look-through P/E | — | — |
| Holdings vs fair value | — | — |
| Holdings above 200-day average | — | — |
| Net flow, latest 3 reported months | +$310M thru May 2026 | +$196M thru Jun 2026 |
| 30-day implied volatility | — | 29.4% |
| Holdings as of | as of May 31, 2026SEC filing | as of Oct 20, 2026issuer data |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
30% of SMBS · 47% of SPMB| Holding | SMBS | SPMB |
|---|---|---|
| Freddie Mac 2%, due Feb 1, 2052 | 0.27% | 0.42% |
| Freddie Mac 2%, due Nov 1, 2050 | 0.26% | 0.31% |
| Freddie Mac 5%, due Apr 1, 2056 | 0.25% | 0.28% |
| Government National Mortgage Association 5%, due Jan 20, 2056 | 0.24% | 0.49% |
| Freddie Mac 6%, due Aug 1, 2055 | 0.24% | 0.72% |
| Freddie Mac 2%, due Dec 1, 2050 | 0.22% | 0.28% |
| Government National Mortgage Association 5.5%, due Jun 20, 2055 | 0.21% | 0.52% |
| Government National Mortgage Association 2%, due Jan 20, 2051 | 0.20% | 0.27% |
| Government National Mortgage Association 5%, due Jan 20, 2055 | 0.19% | 0.33% |
| Government National Mortgage Association 2%, due Feb 20, 2051 | 0.18% | 0.20% |
| Fannie Mae 2%, due Feb 1, 2051 | 0.18% | 0.25% |
| Freddie Mac 2%, due Feb 1, 2051 | 0.18% | 0.28% |
| Government National Mortgage Association 4%, due Sep 20, 2052 | 0.19% | 0.17% |
| Fannie Mae 2%, due Jul 1, 2051 | 0.16% | 0.28% |
| Freddie Mac 2%, due Nov 1, 2051 | 0.16% | 0.41% |
| Government National Mortgage Association 2%, due Mar 20, 2051 | 0.16% | 0.16% |
| Government National Mortgage Association 2.5%, due Jun 20, 2051 | 0.16% | 0.15% |
| Government National Mortgage Association 5.5%, due Dec 20, 2054 | 0.15% | 0.32% |
| Government National Mortgage Association 6%, due Sep 20, 2055 | 0.15% | 0.16% |
| Freddie Mac 5%, due Feb 1, 2056 | 0.15% | 1.13% |
| Freddie Mac 2.5%, due Jan 1, 2054 | 0.29% | 0.14% |
| Freddie Mac 5.5%, due Oct 1, 2055 | 0.14% | 0.39% |
| Fannie Mae 2.5%, due Jul 1, 2051 | 0.14% | 0.18% |
| Government National Mortgage Association 2%, due Apr 20, 2051 | 0.17% | 0.14% |
| Government National Mortgage Association 5.5%, due May 20, 2053 | 0.14% | 0.20% |
Sector mix of the stock holdings
No sector breakdown: these funds hold few classified stocks.
More: full overlap table · SMBS holdings · SPMB holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.