CMBS vs. NSCI
CMBS (iShares CMBS ETF) and NSCI (Nuveen Securitized Income ETF) are both Mortgage Backed Securities funds. CMBS is passively managed, while NSCI is actively managed. At a 0.36 correlation, their price movements are largely independent. CMBS charges 0.25%/yr vs 0.38%/yr for NSCI.
Performance
CMBS vs. NSCI - Performance Comparison
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Returns By Period
In the year-to-date period, CMBS achieves a 0.51% return, which is significantly lower than NSCI's 2.09% return.
CMBS
- 1D
- 0.12%
- 1M
- 0.56%
- YTD
- 0.51%
- 6M
- 0.47%
- 1Y
- 3.81%
- 3Y*
- 5.36%
- 5Y*
- 0.81%
- 10Y*
- 2.04%
NSCI
- 1D
- 0.12%
- 1M
- 0.57%
- YTD
- 2.09%
- 6M
- 2.25%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMBS vs. NSCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CMBS iShares CMBS ETF | 0.51% | 1.35% |
NSCI Nuveen Securitized Income ETF | 2.09% | 1.66% |
Correlation
The correlation between CMBS and NSCI is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025 | 0.36 |
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Return for Risk
CMBS vs. NSCI — Risk / Return Rank
CMBS
NSCI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CMBS vs. NSCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares CMBS ETF (CMBS) and Nuveen Securitized Income ETF (NSCI). 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 | NSCI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | — | — |
| Martin ratioReturn relative to average drawdown | 4.05 | — | — |
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Drawdowns
CMBS vs. NSCI - Drawdown Comparison
The maximum CMBS drawdown since its inception was -15.87%, which is greater than NSCI's maximum drawdown of -1.10%. Use the drawdown chart below to compare losses from any high point for CMBS and NSCI.
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Drawdown Indicators
| CMBS | NSCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.87% | -1.10% | -14.77% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -15.87% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -0.00% | -1.40% |
Average DrawdownAverage peak-to-trough decline | -2.95% | -0.18% | -2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | — | — |
Volatility
CMBS vs. NSCI - Volatility Comparison
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Volatility by Period
| CMBS | NSCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.85% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 1.30% | +2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.32% | 1.30% | +4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 1.30% | +4.46% |
CMBS vs. NSCI - Expense Ratio Comparison
CMBS has a 0.25% expense ratio, which is lower than NSCI's 0.38% expense ratio.
Dividends
CMBS vs. NSCI - Dividend Comparison
CMBS's dividend yield for the trailing twelve months is around 3.57%, more than NSCI's 3.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 3.57% | 3.45% | 3.31% | 2.97% | 2.65% | 2.46% | 2.83% | 2.74% | 2.70% | 2.50% | 2.29% | 2.31% |
NSCI Nuveen Securitized Income ETF | 3.04% | 1.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CMBS and NSCI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMBS is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMBS is cheaper with a 0.25% expense ratio, compared with 0.38% for NSCI.
CMBS has the higher dividend yield at 3.57%, compared with 3.04% for NSCI.
They also come from different issuers: iShares and Nuveen. Their fees differ too: 0.25% for CMBS and 0.38% for NSCI.
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