CMBS vs. NEAR
CMBS (iShares CMBS ETF) and NEAR (iShares Short Duration Bond Active ETF) are both exchange-traded funds - CMBS is a Mortgage Backed Securities fund tracking the Barclays Capital U.S. CMBS (ERISA Only) Index, while NEAR is a Short-Term Bond fund actively managed by iShares. CMBS is passively managed, while NEAR is actively managed. Over the past 10 years, CMBS returned 2.00%/yr vs 2.85%/yr for NEAR. At a 0.25 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
CMBS vs. NEAR - Performance Comparison
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Returns By Period
In the year-to-date period, CMBS achieves a 0.25% return, which is significantly lower than NEAR's 0.79% return. Over the past 10 years, CMBS has underperformed NEAR with an annualized return of 2.00%, while NEAR has yielded a comparatively higher 2.85% annualized return.
CMBS
- 1D
- -0.23%
- 1M
- 0.07%
- YTD
- 0.25%
- 6M
- 0.56%
- 1Y
- 4.12%
- 3Y*
- 5.34%
- 5Y*
- 0.70%
- 10Y*
- 2.00%
NEAR
- 1D
- -0.03%
- 1M
- 0.22%
- YTD
- 0.79%
- 6M
- 1.16%
- 1Y
- 4.12%
- 3Y*
- 5.61%
- 5Y*
- 3.87%
- 10Y*
- 2.85%
CMBS vs. NEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 0.25% | 7.67% | 4.27% | 5.06% | -11.21% | -1.82% | 7.86% | 7.94% | 0.77% | 2.95% |
NEAR iShares Short Duration Bond Active ETF | 0.79% | 5.90% | 5.09% | 7.42% | 0.41% | 0.32% | 1.39% | 3.55% | 1.71% | 1.41% |
Correlation
The correlation between CMBS and NEAR is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013 | 0.25 |
The correlation between CMBS and NEAR shifts across timeframes, from 0.25 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CMBS vs. NEAR — Risk / Return Rank
CMBS
NEAR
CMBS vs. NEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares CMBS ETF (CMBS) and iShares Short Duration Bond Active ETF (NEAR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMBS | NEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.62 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 3.59 | -1.92 |
| Martin ratioReturn relative to average drawdown | 4.46 | 16.36 | -11.90 |
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Drawdowns
CMBS vs. NEAR - Drawdown Comparison
The maximum CMBS drawdown since its inception was -15.87%, which is greater than NEAR's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for CMBS and NEAR.
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Drawdown Indicators
| CMBS | NEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.87% | -9.61% | -6.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -1.13% | -1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -1.16% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | -1.32% | -14.55% |
Max Drawdown (10Y)Largest decline over 10 years | -15.87% | -9.61% | -6.26% |
Current DrawdownCurrent decline from peak | -1.67% | -0.03% | -1.64% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -0.16% | -2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 0.25% | +0.66% |
Volatility
CMBS vs. NEAR - Volatility Comparison
iShares CMBS ETF (CMBS) has a higher volatility of 1.10% compared to iShares Short Duration Bond Active ETF (NEAR) at 0.44%. This indicates that CMBS's price experiences larger fluctuations and is considered to be riskier than NEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMBS | NEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.44% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 1.02% | +1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 1.36% | +2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.31% | 1.34% | +3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 2.50% | +3.27% |
CMBS vs. NEAR - Expense Ratio Comparison
Both CMBS and NEAR have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
CMBS vs. NEAR - Dividend Comparison
CMBS's dividend yield for the trailing twelve months is around 3.58%, less than NEAR's 4.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 3.58% | 3.45% | 3.31% | 2.97% | 2.65% | 2.46% | 2.83% | 2.74% | 2.70% | 2.50% | 2.29% | 2.31% |
NEAR iShares Short Duration Bond Active ETF | 4.43% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
Frequently Asked Questions
CMBS and NEAR have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMBS has higher volatility (1.10%) compared to NEAR (0.44%). In terms of maximum drawdown, CMBS dropped -15.87% vs NEAR's -9.61%.
On 10-year performance, NEAR leads with 2.85% vs 2.00% for CMBS. Both ETFs have the same 0.25% expense ratio. On volatility, NEAR has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NEAR has performed better with a 2.85% return vs 2.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMBS and NEAR have the same expense ratio: 0.25% per year.
NEAR has the higher dividend yield at 4.43%, compared with 3.58% for CMBS.
CMBS is categorized as Mortgage Backed Securities, while NEAR is Short-Term Bond.
NEAR currently has the higher Sharpe Ratio (2.99 vs 1.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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