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

In the year to Oct 9, 2026, with distributions reinvested, SMBS returned −1.0% and SPMB −1.4%.

Which is cheaper, SMBS or SPMB?

SMBS is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's prospectus.

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SMBS vs SPMB: Differences, Returns & Fees

SMBS's duration was 5.1 years on May 31, 2026 and SPMB's 5.5 on Jun 30, 2026; SMBS charges 0.03% to SPMB's 0.04%. Net assets: $6.4bn on May 31, 2026 for Schwab Mortgage-Backed Securities ETF, and $6.8bn on Oct 8, 2026 for State Street SPDR Portfolio Mortgage Backed Bond ETF.

SMBS costs 0.01 points a year less; their one-year returns differ by 0.4 points; SPMB is far larger, $5.9bn against $54m.

	SMBS	SPMB
Expense ratio	0.03%	0.04%
Net assets, as of Feb 28, 2025	$54m	$5.9bn
Total return, 1 year	−1.0%	−1.4%
What it tracks	Bloomberg US MBS Float Adjusted Total Return Index	Bloomberg U.S. MBS Index ?
Holdings in common	21%
Below its high	4.4%, high on Feb 27, 2026	4.7%, high on Feb 27, 2026

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

−1.0%

SMBS total return, 1 year

−1.4%

SPMB total return, 1 year

0.03%

SMBS expense ratio

0.04%

SPMB expense ratio

What they hold in common

By the books each fund has filed, SMBS and SPMB hold 21% 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.

50%

half

21% in common

Positions both hold, largest shared weight first

Holding SMBS SPMB

Freddie Mac Pool, due Feb 1, 2052 0.27% 0.44%

Freddie Mac Pool, due Nov 1, 2050 0.26% 0.33%

Freddie Mac Pool, due Apr 1, 2056 0.25% 0.29%

Ginnie Mae II Pool, due Jan 20, 2056 0.24% 0.41%

Freddie Mac Pool, due Aug 1, 2055 0.24% 0.76%

Freddie Mac Pool, due Dec 1, 2050 0.22% 0.23%

Ginnie Mae II Pool, due Jun 20, 2055 0.21% 0.55%

Ginnie Mae II Pool, due Jan 20, 2051 0.20% 0.28%

Ginnie Mae II Pool, due Jan 20, 2055 0.19% 0.34%

Ginnie Mae II Pool, due Feb 20, 2051 0.19% 0.22%

Fannie Mae Pool, due Feb 1, 2051 0.18% 0.26%

Ginnie Mae II Pool, due Sep 20, 2052 0.19% 0.18%

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, 2052 0.23%

Freddie Mac Pool, due Mar 1, 2056 0.21%

Ginnie Mae II Pool, due Nov 20, 2055 0.21%

Ginnie Mae II Pool, due Oct 20, 2053 0.20%

Ginnie Mae II Pool, due Feb 20, 2055 0.20%

Freddie Mac Pool, due Mar 1, 2056 0.20%

Only in SPMB

Uniform Mortgage-Backed Security, TBA, due Jul 1, 2056 0.63%

Freddie Mac Pool, due Nov 1, 2054 0.55%

Fannie Mae Pool, due Aug 1, 2052 0.51%

Uniform Mortgage-Backed Security, TBA, due Jul 1, 2056 0.46%

Uniform Mortgage-Backed Security, TBA, due Jul 1, 2056 0.45%

Fannie Mae Pool, due Feb 1, 2052 0.45%

Ginnie Mae, due Jul 20, 2056 0.44%

Freddie Mac Pool, due Mar 1, 2054 0.44%

Check overlap with more funds →

On the same fields

SMBS

Schwab Mortgage-Backed Securities ETF

SPMB

State Street SPDR Portfolio Mortgage Backed Bond ETF

Where it sits Bond ETF Bond ETF

Issuer Schwab State Street

What it is Tracks an index Tracks an index

Total return, 1 year −1.0% −1.4%

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

Gap to the S&P 500 −18.2 pts −18.7 pts

Expense ratio 0.03% 0.04%

Holdings 4196 2756

Net assets, SMBS as of May 31, 2026 and SPMB as of Oct 8, 2026 $6.4bn $6.8bn

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

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.

SPMB in plain words

SPMB tracks an 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.

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 ?.

Questions people ask

Which returned more over the last year, SMBS or SPMB?: In the year to Oct 9, 2026, with distributions reinvested, SMBS returned −1.0% and SPMB −1.4%.
Which is cheaper, SMBS or SPMB?: SMBS is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

FSEC vs SMBS JMTG vs SMBS JMBS vs SMBS SMBS vs VMBS FSEC vs SPMB JMBS vs SPMB JMTG vs SPMB SPMB vs VMBS

SMBS on its own →SPMB on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

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

Open data

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