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FSEC vs SPMB: Differences, Returns & Fees

FSEC's duration was 5.2 years on May 31, 2026 and SPMB's 5.5 on Jun 30, 2026; SPMB charges 0.04% to FSEC's 0.36%. Net assets: $4.5bn on Sep 30, 2026 for Fidelity Investment Grade Securitized ETF, and $6.8bn on Oct 8, 2026 for State Street SPDR Portfolio Mortgage Backed Bond ETF.

SPMB costs 0.32 points a year less; their one-year returns differ by 0.2 points; SPMB is 1.5 times larger.

FSECSPMB
Expense ratio0.36%0.04%
Net assets, as of Sep 30, 2026$4.5bn$6.8bn
Total return, 1 year−1.2%−1.4%
What it tracksNo index, actively managedBloomberg U.S. MBS Index ?
Holdings in common4%
Below its high4.4%, high on Feb 27, 20264.7%, 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
−1.4%
SPMB total return, 1 year
0.36%
FSEC expense ratio
0.04%
SPMB expense ratio

What they hold in common

By the books each fund has filed, FSEC and SPMB hold 4% 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

4% in common

Positions both hold, largest shared weight first
Holding FSEC SPMB
GNII II 5.5% 07/01/2056 #TBA, due Jul 1, 2056 4.64% 0.44%
GNII II 5% 07/01/2056 #TBA, due Jul 1, 2056 1.51% 0.36%
FHLG 30YR 2% 11/01/2050#SD8106, due Nov 1, 2050 0.85% 0.33%
GNII II 3% 05/20/2052#MA8043, due May 20, 2052 0.73% 0.20%
UMBS 30YR 2% 07/01/2056 #TBA, due Jul 1, 2056 2.52% 0.20%
FHLG 30YR 2% 01/01/2051#SD8121, due Jan 1, 2051 0.18% 0.35%
FNMA 30YR 2% 01/01/2051#MA4237, due Jan 1, 2051 0.20% 0.17%
GNII II 6% 07/01/2056 #TBA, due Jul 1, 2056 1.99% 0.15%
FHLG 30YR 2% 02/01/2051#SD8128, due Feb 1, 2051 0.15% 0.29%
UMBS 15YR 5% 07/01/2041 #TBA, due Jul 1, 2041 0.21% 0.15%
FHLG 30YR 2% 06/01/2052#SL5025, due Jun 1, 2052 0.13% 0.13%
FNMA 30YR 2% 03/01/2051#MA4281, due Mar 1, 2051 0.12% 0.14%
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%
FHLG 30YR 2.5% 11/01/2051#SD7548, due Nov 1, 2051 1.55%
Only in SPMB
Freddie Mac Pool, due Feb 1, 2056 1.17%
Fannie Mae Pool, due Feb 1, 2052 0.79%
Freddie Mac Pool, due Aug 1, 2055 0.76%
Uniform Mortgage-Backed Security, TBA, due Jul 1, 2056 0.63%
Freddie Mac Pool, due May 1, 2052 0.61%
Freddie Mac Pool, due Nov 1, 2054 0.55%
Ginnie Mae II Pool, due Jun 20, 2055 0.55%
Fannie Mae Pool, due Aug 1, 2052 0.51%

Check overlap with more funds →

On the same fields

FSEC
Fidelity Investment Grade Securitized ETF
SPMB
State Street SPDR Portfolio Mortgage Backed Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Fidelity State Street
What it is Actively managed Tracks an index
Total return, 1 year −1.2% −1.4%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 −18.4 pts −18.7 pts
Expense ratio 0.36% 0.04%
Holdings 1059 2756
Net assets, FSEC as of Sep 30, 2026 and SPMB as of Oct 8, 2026 $4.5bn $6.8bn

FSEC and SPMB 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.

SPMB in plain words

SPMB tracks an index. Over the year to Oct 9, 2026 it returned −1.4% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg U.S. MBS Index ?. The prospectus expense ratio is 0.04% a year. It sat 4.7% below its high of Feb 27, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, FSEC or SPMB?
In the year to Oct 9, 2026, with distributions reinvested, FSEC returned −1.2% and SPMB −1.4%.
Which is cheaper, FSEC or SPMB?
SPMB is cheaper, by 0.32 percentage points a year. That is about $32 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
FSEC vs JMTGFSEC vs SMBSFSEC vs VMBSFSEC vs PMBSSPMB vs VMBSSMBS vs SPMBJMBS vs SPMBJMTG vs SPMB
FSEC on its own →SPMB 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 ↗SPMB filings on SEC EDGAR ↗SPMB prospectus with the expense ratio (SEC) ↗State Street 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 SPMB, data as of Oct 9, 2026. https://etfiq.com/compare/any/fsec-vs-spmb

Open data

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