CMBS vs. SCHZ
Compare and contrast key facts about iShares CMBS ETF (CMBS) and Schwab U.S. Aggregate Bond ETF (SCHZ).
CMBS and SCHZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CMBS is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. CMBS (ERISA Only) Index. It was launched on Feb 14, 2012. SCHZ is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Aggregate. It was launched on Jul 14, 2011. Both CMBS and SCHZ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CMBS or SCHZ.
Key characteristics
| CMBS | SCHZ | |
|---|---|---|
| YTD Return | 3.75% | 3.53% |
| 1Y Return | 8.86% | 10.28% |
| 3Y Return (Ann) | -1.23% | -0.62% |
| 5Y Return (Ann) | 0.50% | 1.48% |
| 10Y Return (Ann) | 1.78% | 2.86% |
| Sharpe Ratio | 1.80 | 1.67 |
| Sortino Ratio | 2.76 | 2.52 |
| Omega Ratio | 1.33 | 1.30 |
| Calmar Ratio | 0.70 | 0.84 |
| Martin Ratio | 8.80 | 6.97 |
| Ulcer Index | 1.04% | 1.47% |
| Daily Std Dev | 5.09% | 6.13% |
| Max Drawdown | -15.87% | -16.93% |
| Current Drawdown | -5.37% | -3.38% |
Correlation
The correlation between CMBS and SCHZ is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CMBS vs. SCHZ - Performance Comparison
In the year-to-date period, CMBS achieves a 3.75% return, which is significantly higher than SCHZ's 3.53% return. Over the past 10 years, CMBS has underperformed SCHZ with an annualized return of 1.78%, while SCHZ has yielded a comparatively higher 2.86% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CMBS vs. SCHZ - Expense Ratio Comparison
CMBS has a 0.25% expense ratio, which is higher than SCHZ's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CMBS vs. SCHZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares CMBS ETF (CMBS) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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.
Dividends
CMBS vs. SCHZ - Dividend Comparison
CMBS's dividend yield for the trailing twelve months is around 3.23%, less than SCHZ's 6.12% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 3.23% | 2.97% | 2.65% | 2.46% | 2.83% | 2.74% | 2.70% | 2.50% | 2.30% | 2.31% | 2.15% | 2.00% |
SCHZ Schwab U.S. Aggregate Bond ETF | 6.12% | 4.66% | 3.49% | 2.69% | 3.86% | 4.18% | 4.18% | 4.20% | 3.52% | 3.53% | 3.21% | 3.53% |
Drawdowns
CMBS vs. SCHZ - Drawdown Comparison
The maximum CMBS drawdown since its inception was -15.87%, smaller than the maximum SCHZ drawdown of -16.93%. Use the drawdown chart below to compare losses from any high point for CMBS and SCHZ. For additional features, visit the drawdowns tool.
Volatility
CMBS vs. SCHZ - Volatility Comparison
The current volatility for iShares CMBS ETF (CMBS) is 1.55%, while Schwab U.S. Aggregate Bond ETF (SCHZ) has a volatility of 1.70%. This indicates that CMBS experiences smaller price fluctuations and is considered to be less risky than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.