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

In the year to Oct 9, 2026, with distributions reinvested, SMBS returned −1.0% and VMBS −0.9%.

Which is cheaper, SMBS or VMBS?

Neither: SMBS and VMBS both charge 0.03% a year. Fees come from each fund's prospectus.

SMBS vs VMBS: Differences, Returns & Fees

On May 31, 2026 SMBS's duration was 5.1 years and VMBS's 5.2; both charge 0.03%. Net assets: $6.4bn on May 31, 2026 for Schwab Mortgage-Backed Securities ETF, and $15.5bn on Sep 30, 2026 for Vanguard Mortgage-Backed Securities ETF.

Both cost 0.03% a year; their one-year returns differ by 0.1 points.

Points (pts) are percentage points.

	SMBS	VMBS
Expense ratio	0.03%	0.03%
Net assets, SMBS as of May 31, 2026 and VMBS as of Sep 30, 2026	$6.4bn	$15.5bn
Total return, 1 year	−1.0%	−0.9%
What it tracks	Bloomberg US MBS Float Adjusted Total Return Index	not read by ETFIQ
Holdings in common	62%
Below its high	4.4%, high on Feb 27, 2026	4.3%, high on Feb 27, 2026

Holdings in common uses holdings dated May 31, 2026.

−1.0%

SMBS total return, 1 year

−0.9%

VMBS total return, 1 year

0.03%

SMBS expense ratio

0.03%

VMBS expense ratio

What they hold in common

By the books each fund has filed, SMBS and VMBS hold 62% 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.

50%

half

62% in common

Positions both hold, largest shared weight first

Holding SMBS VMBS

Ginnie Mae II Pool, due Nov 20, 2054 0.47% 0.32%

Ginnie Mae II Pool, due Jan 20, 2056 0.24% 0.31%

Fannie Mae Pool, due May 1, 2051 0.28% 0.23%

Freddie Mac Pool, due Nov 1, 2050 0.26% 0.21%

Freddie Mac Pool, due Mar 1, 2051 0.21% 0.20%

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

Ginnie Mae II Pool, due Nov 20, 2050 0.19% 0.20%

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

Freddie Mac Pool, due Feb 1, 2051 0.18% 0.23%

Ginnie Mae II Pool, due Apr 20, 2051 0.17% 0.21%

Ginnie Mae II Pool, due Oct 20, 2052 0.17% 0.22%

Fannie Mae Pool, due Feb 1, 2051 0.18% 0.17%

Only in SMBS

Freddie Mac Pool, due Jan 1, 2054 0.29%

Freddie Mac Pool, due Feb 1, 2052 0.27%

Freddie Mac Pool, due Mar 1, 2056 0.21%

Freddie Mac Pool, due Mar 1, 2056 0.20%

Fannie Mae Pool, due Aug 1, 2052 0.18%

Freddie Mac Pool, due Jul 1, 2051 0.17%

Freddie Mac Pool, due Sep 1, 2055 0.17%

Freddie Mac Pool, due Feb 1, 2052 0.17%

Only in VMBS

FNCL 2 6/26, due Jun 11, 2026 0.52%

G2SF 5.5 7/26, due Jul 20, 2026 0.36%

FN CC2762, due Mar 1, 2056 0.29%

G2SF 5.5 6/26, due Jun 22, 2026 0.29%

FR SD4155, due Feb 1, 2052 0.27%

FR RQ0118, due May 1, 2056 0.27%

FNCL 3 6/26, due Jun 11, 2026 0.25%

FNCL 6 6/26, due Jun 11, 2026 0.20%

Check overlap with more funds →

On the same fields

SMBS

Schwab Mortgage-Backed Securities ETF

VMBS

Vanguard Mortgage-Backed Securities ETF

Where it sits Bond ETF Bond ETF

Issuer Schwab Vanguard

What it is Tracks an index Tracks an index

Total return, 1 year −1.0% −0.9%

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

Gap to the S&P 500 −18.2 pts −18.1 pts

Expense ratio 0.03% 0.03%

Holdings 4196 4890

Net assets, SMBS as of May 31, 2026 and VMBS as of Sep 30, 2026 $6.4bn $15.5bn

SMBS and VMBS 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.

VMBS in plain words

VMBS tracks an index. Over the year to Oct 9, 2026 it returned −0.9% with distributions reinvested. It sat 4.3% below its high of Feb 27, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, SMBS or VMBS?: In the year to Oct 9, 2026, with distributions reinvested, SMBS returned −1.0% and VMBS −0.9%.
Which is cheaper, SMBS or VMBS?: Neither: SMBS and VMBS both charge 0.03% a year. Fees come from each fund's prospectus.

Other comparisons

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

SMBS on its own →VMBS 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 ↗VMBS filings on SEC EDGAR ↗VMBS prospectus with the expense ratio (SEC) ↗Vanguard page for VMBS ↗

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 VMBS, data as of Oct 9, 2026. https://etfiq.com/compare/any/smbs-vs-vmbs

Open data

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