PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) belongs to the Mortgage Backed Securities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with PMBS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PMBS
PMBS charges 0.71% annually. There are 26 ETFs in the Mortgage Backed Securities category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Mortgage-Backed Securities ETF | 0.03% | — | Nov 2024 | PMBS vs SMBS | |
| Vanguard Mortgage-Backed Securities ETF | 0.04% | 17.30B | Nov 2009 | PMBS vs VMBS | |
| SPDR Portfolio Mortgage Backed Bond ETF | 0.04% | 7.00B | Jan 2009 | PMBS vs SPMB | |
| iShares MBS Bond ETF | 0.04% | 38.93B | Mar 2007 | PMBS vs MBB | |
| iShares GNMA Bond ETF | 0.15% | 421.25M | Feb 2012 | PMBS vs GNMA |
Best Risk-Adjusted Alternatives to PMBS
PMBS has a PortfoliosLab risk / return rank of 34. There are 7 ETFs in the Mortgage Backed Securities category with higher risk-adjusted ranks, going as high as 95.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Franklin Short Duration U.S. Government ETF | 95 | 301.85M | Nov 2013 | PMBS vs FTSD | |
| First Trust Low Duration Mortgage Opportunities ET... | 88 | 6.35B | Nov 2014 | PMBS vs LMBS | |
| Virtus Newfleet ABS/MBS ETF | 79 | 112.17M | Feb 2021 | PMBS vs VABS | |
| First Trust TCW Securitized Plus ETF | 37 | 64.17M | Apr 2020 | PMBS vs DEED | |
| JPMorgan Mortgage-Backed Securities ETF | 37 | 6.79B | Aug 2000 | PMBS vs JMTG |
Top Performing PMBS Alternatives (YTD)
PMBS is at 0.07% YTD. There are 12 ETFs in the Mortgage Backed Securities category with higher YTD returns, going as high as 5.39%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Regan Fixed Rate MBS ETF | 5.39% | 13.94M | Apr 2025 | PMBS vs MBSX | |
| Nuveen Securitized Income ETF | 2.60% | 207.24M | Sep 2025 | PMBS vs NSCI | |
| Virtus Newfleet ABS/MBS ETF | 2.08% | 112.17M | Feb 2021 | PMBS vs VABS | |
| First Trust Low Duration Mortgage Opportunities ET... | 1.45% | 6.35B | Nov 2014 | PMBS vs LMBS | |
| Franklin Short Duration U.S. Government ETF | 1.13% | 301.85M | Nov 2013 | PMBS vs FTSD |
Lowest Volatility Alternatives to PMBS
PMBS has 4.14% 1-year volatility. There are 15 ETFs in the Mortgage Backed Securities category with lower 1-year volatility, going as low as 1.30%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Securitized Income ETF | 1.30% | 207.24M | Sep 2025 | PMBS vs NSCI | |
| Franklin Short Duration U.S. Government ETF | 1.37% | 301.85M | Nov 2013 | PMBS vs FTSD | |
| American Century Securitized Credit ETF | 1.82% | 20.00M | May 2026 | PMBS vs ASEC | |
| Virtus Newfleet ABS/MBS ETF | 1.87% | 112.17M | Feb 2021 | PMBS vs VABS | |
| First Trust Low Duration Mortgage Opportunities ET... | 1.94% | 6.35B | Nov 2014 | PMBS vs LMBS |
Lowest Drawdown Alternatives to PMBS
PMBS has a 1-year max drawdown of -2.97%. There are 15 ETFs in the Mortgage Backed Securities category with shallower 1-year drawdowns, going as shallow as -0.45%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Franklin Short Duration U.S. Government ETF | -0.45% | 301.85M | Nov 2013 | PMBS vs FTSD | |
| Virtus Newfleet ABS/MBS ETF | -0.98% | 112.17M | Feb 2021 | PMBS vs VABS | |
| First Trust Low Duration Mortgage Opportunities ET... | -1.43% | 6.35B | Nov 2014 | PMBS vs LMBS | |
| Eaton Vance Mortgage Opportunities ETF | -1.89% | — | Aug 2025 | PMBS vs EVMO | |
| FlexShares Disciplined Duration MBS Index Fund | -2.17% | 88.64M | Sep 2014 | PMBS vs MBSD |
Other ETFs from PIMCO
The 10 most viewed PIMCO ETFs shown here include MINT, PYLD, BOND and span 11 categories. AUM among these funds goes as high as $16B.
Often Compared With PMBS
Investors most often compare PMBS with SECU, LGOV, JMBS. These 20 comparison targets span 10 categories, based on PortfoliosLab usage data.
Compare PMBS with Any Fund or Stock
Compare PMBS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PMBS with funds that move differently
PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PMBS.
Explore PMBS Diversifiers