GOVZ vs. SMBS
Compare and contrast key facts about iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and Schwab Mortgage-Backed Securities ETF (SMBS).
GOVZ and SMBS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GOVZ is a passively managed fund by iShares that tracks the performance of the ICE BofA Long US Treasury Principal STRIPS Index. It was launched on Sep 22, 2020. SMBS is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US MBS Float Adjusted Total Return Index. It was launched on Nov 18, 2024. Both GOVZ and SMBS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
GOVZ vs. SMBS - Performance Comparison
Loading graphics...
GOVZ vs. SMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -0.07% | -1.81% | -5.12% |
SMBS Schwab Mortgage-Backed Securities ETF | 0.36% | 8.15% | -0.07% |
Returns By Period
In the year-to-date period, GOVZ achieves a -0.07% return, which is significantly lower than SMBS's 0.36% return.
GOVZ
- 1D
- -0.43%
- 1M
- -6.18%
- YTD
- -0.07%
- 6M
- -3.49%
- 1Y
- -6.30%
- 3Y*
- -8.76%
- 5Y*
- -10.89%
- 10Y*
- —
SMBS
- 1D
- 0.20%
- 1M
- -1.67%
- YTD
- 0.36%
- 6M
- 1.92%
- 1Y
- 5.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
GOVZ vs. SMBS - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is higher than SMBS's 0.03% 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%.
Return for Risk
GOVZ vs. SMBS — Risk / Return Rank
GOVZ
SMBS
GOVZ vs. SMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) and Schwab Mortgage-Backed Securities ETF (SMBS). 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.
| GOVZ | SMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.33 | 1.12 | -1.45 |
Sortino ratioReturn per unit of downside risk | -0.33 | 1.61 | -1.94 |
Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.24 |
Calmar ratioReturn relative to maximum drawdown | -0.29 | 1.94 | -2.23 |
Martin ratioReturn relative to average drawdown | -0.50 | 5.61 | -6.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| GOVZ | SMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.33 | 1.12 | -1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 1.27 | -1.86 |
Correlation
The correlation between GOVZ and SMBS is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GOVZ vs. SMBS - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.04%, more than SMBS's 4.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.04% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% |
SMBS Schwab Mortgage-Backed Securities ETF | 4.80% | 4.83% | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GOVZ vs. SMBS - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than SMBS's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for GOVZ and SMBS.
Loading graphics...
Drawdown Indicators
| GOVZ | SMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -3.20% | -56.45% |
Max Drawdown (1Y)Largest decline over 1 year | -16.08% | -2.83% | -13.25% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | — | — |
Current DrawdownCurrent decline from peak | -56.09% | -1.67% | -54.42% |
Average DrawdownAverage peak-to-trough decline | -39.38% | -0.77% | -38.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.40% | 0.98% | +8.42% |
Volatility
GOVZ vs. SMBS - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 5.79% compared to Schwab Mortgage-Backed Securities ETF (SMBS) at 1.82%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier than SMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| GOVZ | SMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.79% | 1.82% | +3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 10.94% | 2.75% | +8.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.33% | 4.77% | +14.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.95% | 4.92% | +19.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.61% | 4.92% | +18.69% |