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FSEC vs PMBS: Differences, Returns & Fees

FSEC's duration was 5.2 years on May 31, 2026 and PMBS's 6.3 on Jun 30, 2026; FSEC charges 0.36% to PMBS's 0.71%. Net assets: $4.5bn on Sep 30, 2026 for Fidelity Investment Grade Securitized ETF, and $1.4bn on Jun 30, 2026 for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund.

FSEC costs 0.35 points a year less; their one-year returns differ by 0.8 points.

FSECPMBS
Expense ratio0.36%0.71%
Net assets, FSEC as of Sep 30, 2026 and PMBS as of Jun 30, 2026$4.5bn$1.4bn
Total return, 1 year−1.2%−2.0%
What it tracksNo index, actively managedNo index, actively managed
Holdings in common3%
Below its high4.4%, high on Feb 27, 20265.9%, high on Feb 27, 2026

Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026.

−1.2%
FSEC total return, 1 year
−2.0%
PMBS total return, 1 year
0.36%
FSEC expense ratio
0.71%
PMBS expense ratio

What they hold in common

By the books each fund has filed, FSEC and PMBS hold 3% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated May 31, 2026 and Jun 30, 2026.

half

3% in common

Positions both hold, largest shared weight first
Holding FSEC PMBS
GNII II 5% 07/01/2056 #TBA, due Jul 1, 2056 1.51% 1.52%
GNII II 5.5% 07/01/2056 #TBA, due Jul 1, 2056 4.64% 0.49%
FEDERAL HOME LN MTG MLT CTF GT 5517 HF SOFR30A+135 03/25/2055, due Mar 25, 2055 0.39% 0.24%
FHLG 30YR 5.5% 01/01/2055#SL0307, due Jan 1, 2055 0.35% 0.23%
UMBS 15YR 5% 07/01/2041 #TBA, due Jul 1, 2041 0.21% 0.38%
FHLG 30YR 6% 05/01/2054#SD7570, due May 1, 2054 0.15% 0.19%
FHLG 30YR 5.5% 10/01/2054#SD8469, due Oct 1, 2054 0.02% 0.70%
FHLG 30YR 6.5% 06/01/2054#SD7571, due Jun 1, 2054 0.46% 0.01%
Only in FSEC
GNII II 5.5% 06/01/2056 #TBA, due Jun 1, 2056 6.97%
UMBS 30YR 5% 06/01/2056 #TBA, due Jun 1, 2056 5.97%
GNII II 5% 06/01/2056 #TBA, due Jun 1, 2056 4.20%
UMBS 30YR 2% 06/01/2056 #TBA, due Jun 1, 2056 3.54%
GNII II 2% 06/01/2056 #TBA, due Jun 1, 2056 3.04%
GNII II 6% 06/01/2056 #TBA, due Jun 1, 2056 3.02%
GNII II 2.5% 06/01/2056 #TBA, due Jun 1, 2056 2.90%
UMBS 30YR 2% 07/01/2056 #TBA, due Jul 1, 2056 2.52%
Only in PMBS
Uniform Mortgage-Backed Security, TBA, due Sep 1, 2056 7.72%
Uniform Mortgage-Backed Security, TBA, due Aug 1, 2056 6.94%
Uniform Mortgage-Backed Security, TBA, due Jul 1, 2056 5.26%
Uniform Mortgage-Backed Security, TBA, due Aug 1, 2056 3.96%
Government National Mortgage Association, due Nov 20, 2055 3.67%
Federal Home Loan Mortgage Corp., due Mar 1, 2056 3.51%
Uniform Mortgage-Backed Security, TBA, due Aug 1, 2056 3.22%
Uniform Mortgage-Backed Security, TBA, due Aug 1, 2056 3.17%

Check overlap with more funds →

On the same fields

FSEC
Fidelity Investment Grade Securitized ETF
PMBS
PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund
Where it sits Bond ETF Bond ETF
Issuer Fidelity PIMCO
What it is Actively managed Actively managed
Total return, 1 year −1.2% −2.0%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −18.4 pts −19.3 pts
Expense ratio 0.36% 0.71%
Holdings 1059 1134
Net assets, FSEC as of Sep 30, 2026 and PMBS as of Jun 30, 2026 $4.5bn $1.4bn

FSEC and PMBS on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

FSEC in plain words

FSEC is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned −1.2% with distributions reinvested. The prospectus expense ratio is 0.36% a year. It sat 4.4% below its high of Feb 27, 2026 on Oct 9, 2026.

PMBS in plain words

PMBS is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned −2.0% with distributions reinvested. The prospectus expense ratio is 0.71% a year. It sat 5.9% below its high of Feb 27, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, FSEC or PMBS?
In the year to Oct 9, 2026, with distributions reinvested, FSEC returned −1.2% and PMBS −2.0%.
Which is cheaper, FSEC or PMBS?
FSEC is cheaper, by 0.35 percentage points a year. That is about $35 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FSEC vs SMBSFSEC vs JMBSFSEC vs JMTGFSEC vs SPMBPMBS vs SMBSPMBS vs SPMBPMBS vs VMBSJMBS vs PMBS
FSEC on its own →PMBS on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FSEC filings on SEC EDGAR ↗FSEC prospectus with the expense ratio (SEC) ↗Fidelity website ↗PMBS filings on SEC EDGAR ↗PMBS prospectus with the expense ratio (SEC) ↗PIMCO website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FSEC against PMBS, data as of Oct 9, 2026. https://etfiq.com/compare/any/fsec-vs-pmbs

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.