Which returned more over the last year, JMBS or PMBS?

In the year to Oct 9, 2026, with distributions reinvested, JMBS returned −1.8% and PMBS −2.0%.

Which is cheaper, JMBS or PMBS?

JMBS is cheaper, by 0.50 percentage points a year. That is about $50 on $10,000 held for a year. Fees come from each fund's prospectus.

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JMBS vs PMBS: Differences, Returns & Fees

JMBS's duration was 6.2 years on Jul 31, 2026 and PMBS's 6.3 on Jun 30, 2026; JMBS charges 0.21% to PMBS's 0.71%. Net assets: $6.7bn on Jul 31, 2026 for Janus Henderson Mortgage-Backed Securities ETF, and $1.4bn on Jun 30, 2026 for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund.

JMBS costs 0.50 points a year less; their one-year returns differ by 0.2 points.

	JMBS	PMBS
Expense ratio	0.21%	0.71%
Net assets, JMBS as of Jul 31, 2026 and PMBS as of Jun 30, 2026	$6.7bn	$1.4bn
Total return, 1 year	−1.8%	−2.0%
What it tracks	No index, actively managed	No index, actively managed
Holdings in common	27%
Below its high	5.4%, high on Feb 27, 2026	5.9%, high on Feb 27, 2026

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

−1.8%

JMBS total return, 1 year

−2.0%

PMBS total return, 1 year

0.21%

JMBS expense ratio

0.71%

PMBS expense ratio

What they hold in common

By the books each fund has filed, JMBS and PMBS hold 27% 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 Jun 30, 2026 and Jul 31, 2026.

50%

half

27% in common

Positions both hold, largest shared weight first

Holding JMBS PMBS

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 7.55% 6.94%

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 4.21% 3.96%

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 3.66% 3.17%

Ginnie Mae II UMBS, Single Family, 30 Year, due Aug 15, 2056 8.87% 2.96%

Ginnie Mae II UMBS, Single Family, 30 Year, due Aug 15, 2056 2.45% 2.75%

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 16.97% 2.23%

Ginnie Mae II UMBS, Single Family, 30 Year, due Aug 15, 2056 2.87% 2.20%

Ginnie Mae II UMBS, Single Family, 30 Year, due Aug 15, 2056 1.73% 1.36%

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 2.07% 1.18%

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 3.82% 0.85%

Fannie Mae Pool, due Feb 1, 2057 0.02% 0.01%

Only in JMBS

Fannie Mae Pool UMBS, 30 Year, due Sep 1, 2053 4.59%

Fannie Mae / Freddie Mac UMBS, Single Family, 30 Year, due Aug 25, 2056 2.69%

Ginnie Mae II UMBS, Single Family, 30 Year, due Aug 15, 2056 2.37%

Fannie Mae Pool UMBS, 30 Year, due Aug 1, 2053 1.99%

Fannie Mae Pool UMBS, 30 Year, due Jan 1, 2055 1.88%

Ginnie Mae II UMBS, Single Family, 30 Year, due Aug 15, 2056 1.60%

Fannie Mae Pool UMBS, 30 Year, due Jan 1, 2049 1.59%

Freddie Mac Pool UMBS, 30 Year, due Jan 1, 2056 1.58%

Only in PMBS

Uniform Mortgage-Backed Security, TBA, due Sep 1, 2056 7.72%

Uniform Mortgage-Backed Security, TBA, due Jul 1, 2056 5.26%

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%

Government National Mortgage Association, TBA, due Aug 20, 2054 2.91%

Government National Mortgage Association, TBA, due Jul 20, 2056 2.05%

Federal Home Loan Mortgage Corp., due Sep 1, 2054 1.93%

Check overlap with more funds →

On the same fields

JMBS

Janus Henderson Mortgage-Backed Securities ETF

PMBS

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

Where it sits Bond ETF Bond ETF

Issuer Janus Henderson PIMCO

What it is Actively managed Actively managed

Total return, 1 year −1.8% −2.0%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 −19.1 pts −19.3 pts

Expense ratio 0.21% 0.71%

Holdings 618 1134

Net assets, JMBS as of Jul 31, 2026 and PMBS as of Jun 30, 2026 $6.7bn $1.4bn

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

JMBS in plain words

JMBS is actively managed and tracks no index. The prospectus expense ratio is 0.21% a year. It sat 5.4% below its high of Feb 27, 2026 on Oct 9, 2026.

Over the year to Oct 9, 2026 it returned −1.8% with distributions reinvested, against −1.6% for its benchmark, the Bloomberg U.S. Aggregate Bond Index.

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, JMBS or PMBS?: In the year to Oct 9, 2026, with distributions reinvested, JMBS returned −1.8% and PMBS −2.0%.
Which is cheaper, JMBS or PMBS?: JMBS is cheaper, by 0.50 percentage points a year. That is about $50 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

JMBS vs JMTG JMBS vs VMBS JMBS vs SMBS JMBS vs SPMB PMBS vs SPMB PMBS vs SMBS PMBS vs VMBS JMTG vs PMBS

JMBS on its own →PMBS on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

JMBS filings on SEC EDGAR ↗JMBS prospectus with the expense ratio (SEC) ↗Janus Henderson 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, JMBS against PMBS, data as of Oct 9, 2026. https://etfiq.com/compare/any/jmbs-vs-pmbs

Open data

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