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

In the year to Oct 9, 2026, with distributions reinvested, JMBS returned −1.8% and SMBS −1.0%.

Which is cheaper, JMBS or SMBS?

SMBS is cheaper, by 0.18 percentage points a year. That is about $18 on $10,000 held for a year. Fees come from each fund's prospectus.

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JMBS vs SMBS: Differences, Returns & Fees

JMBS's duration was 6.2 years on Jul 31, 2026 and SMBS's 5.1 on May 31, 2026; SMBS charges 0.03% to JMBS's 0.21%. Net assets: $6.7bn on Jul 31, 2026 for Janus Henderson Mortgage-Backed Securities ETF, and $6.4bn on May 31, 2026 for Schwab Mortgage-Backed Securities ETF.

SMBS costs 0.18 points a year less; their one-year returns differ by 0.8 points.

	JMBS	SMBS
Expense ratio	0.21%	0.03%
Net assets, JMBS as of Jul 31, 2026 and SMBS as of May 31, 2026	$6.7bn	$6.4bn
Total return, 1 year	−1.8%	−1.0%
What it tracks	No index, actively managed	Bloomberg US MBS Float Adjusted Total Return Index
Holdings in common	0%
Below its high	5.4%, high on Feb 27, 2026	4.4%, high on Feb 27, 2026

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

−1.8%

JMBS total return, 1 year

−1.0%

SMBS total return, 1 year

0.21%

JMBS expense ratio

0.03%

SMBS expense ratio

What they hold in common

By the books each fund has filed, JMBS and SMBS hold 0% 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 Jul 31, 2026.

50%

half

0% in common

Positions both hold, largest shared weight first

Holding JMBS SMBS

Fannie Mae Pool UMBS, 30 Year, due Sep 1, 2050 0.09% 0.09%

Fannie Mae Pool UMBS, 30 Year, due Nov 1, 2048 0.02% 0.02%

Fannie Mae Pool UMBS, 30 Year, due Jul 1, 2048 0.02% 0.01%

Fannie Mae Pool UMBS, 30 Year, due Sep 1, 2050 0.21% 0.01%

Fannie Mae Pool UMBS, 30 Year, due Sep 1, 2055 0.01% 0.04%

Fannie Mae Pool UMBS, 30 Year, due May 1, 2050 0.04% 0.01%

Fannie Mae Pool UMBS, 30 Year, due Aug 1, 2053 0.01% 0.01%

Fannie Mae Pool UMBS, 30 Year, due Jan 1, 2052 0.02% 0.01%

Fannie Mae Pool UMBS, 30 Year, due Oct 1, 2047 0.02% 0.00%

Ginnie Mae II Pool, 30 Year, due May 20, 2048 0.00% 0.01%

Fannie Mae Pool UMBS, 30 Year, due Jun 1, 2050 0.04% 0.00%

Only in JMBS

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

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

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

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 4.21%

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

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

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

Only in SMBS

Ginnie Mae II Pool, due Nov 20, 2054 0.47%

Freddie Mac Pool, due Oct 1, 2054 0.35%

Freddie Mac Pool, due Jan 1, 2054 0.29%

Fannie Mae Pool, due May 1, 2051 0.28%

Freddie Mac Pool, due Feb 1, 2052 0.27%

Freddie Mac Pool, due Nov 1, 2050 0.26%

Freddie Mac Pool, due Apr 1, 2056 0.25%

Freddie Mac Pool, due Mar 1, 2052 0.25%

Check overlap with more funds →

On the same fields

JMBS

Janus Henderson Mortgage-Backed Securities ETF

SMBS

Schwab Mortgage-Backed Securities ETF

Where it sits Bond ETF Bond ETF

Issuer Janus Henderson Schwab

What it is Actively managed Tracks an index

Total return, 1 year −1.8% −1.0%

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

Gap to the S&P 500 −19.1 pts −18.2 pts

Expense ratio 0.21% 0.03%

Holdings 618 4196

Net assets, JMBS as of Jul 31, 2026 and SMBS as of May 31, 2026 $6.7bn $6.4bn

JMBS and SMBS 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.

SMBS in plain words

SMBS tracks an index. The prospectus expense ratio is 0.03% a year. It sat 4.4% below its high of Feb 27, 2026 on Oct 9, 2026.

Over the year to Oct 9, 2026 it returned −1.0% with distributions reinvested, against −1.2% for its benchmark, the Bloomberg US MBS Float Adjusted Total Return Index, measured by the closely related Bloomberg U.S. MBS Index.

Questions people ask

Which returned more over the last year, JMBS or SMBS?: In the year to Oct 9, 2026, with distributions reinvested, JMBS returned −1.8% and SMBS −1.0%.
Which is cheaper, JMBS or SMBS?: SMBS is cheaper, by 0.18 percentage points a year. That is about $18 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

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

JMBS on its own →SMBS 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 ↗SMBS filings on SEC EDGAR ↗SMBS prospectus with the expense ratio (SEC) ↗Schwab 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 SMBS, data as of Oct 9, 2026. https://etfiq.com/compare/any/jmbs-vs-smbs

Open data

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