IMTG vs. JMBS

Last updated Jun 26, 2026

IMTG (Invesco Agency MBS ETF) and JMBS (Janus Henderson Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. Both are actively managed. With a 0.96 correlation, they move nearly in lockstep. IMTG charges 0.22%/yr vs 0.32%/yr for JMBS.

Performance

IMTG vs. JMBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Agency MBS ETF (IMTG) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IMTG

• 1D: 0.10%
• 1M: 0.91%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JMBS

• 1D: 0.11%
• 1M: 0.83%
• YTD: 1.38%
• 6M: 1.20%
• 1Y: 6.28%
• 3Y*: 4.75%
• 5Y*: 0.94%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IMTG vs. JMBS - Yearly Performance Comparison

	2026 (YTD)
IMTG Invesco Agency MBS ETF	-0.35%
JMBS Janus Henderson Mortgage-Backed Securities ETF	-0.42%

Correlation

The correlation between IMTG and JMBS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 25, 2026	0.96

Return for Risk

IMTG vs. JMBS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMTG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JMBS

JMBS Risk / Return Rank: 48
JMBS Sharpe Ratio Rank: 48
JMBS Sortino Ratio Rank: 51
JMBS Omega Ratio Rank: 48
JMBS Calmar Ratio Rank: 47
JMBS Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IMTG vs. JMBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Agency MBS ETF (IMTG) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). 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.

	IMTG	JMBS	Difference
Sharpe ratio: Return per unit of total volatility	—	1.48	—
Sortino ratio: Return per unit of downside risk	—	2.19	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.06	—
Martin ratio: Return relative to average drawdown	—	6.39	—

Drawdowns

IMTG vs. JMBS - Drawdown Comparison

The maximum IMTG drawdown since its inception was -2.85%, smaller than the maximum JMBS drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for IMTG and JMBS.

Drawdown Indicators

	IMTG	JMBS	Difference
Max Drawdown Largest peak-to-trough decline	-2.85%	-16.68%	+13.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.05%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.68%	—
Current Drawdown Current decline from peak	-0.74%	-0.80%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.38%	-3.87%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.98%	—

Volatility

Volatility by Period

	IMTG	JMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.36%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.38%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.72%	4.27%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.72%	6.52%	-1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.72%	5.52%	-0.80%

IMTG vs. JMBS - Expense Ratio Comparison

IMTG has a 0.22% expense ratio, which is lower than JMBS's 0.32% expense ratio.

Dividends

IMTG vs. JMBS - Dividend Comparison

IMTG's dividend yield for the trailing twelve months is around 1.28%, less than JMBS's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IMTG Invesco Agency MBS ETF	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JMBS Janus Henderson Mortgage-Backed Securities ETF	5.15%	5.03%	5.53%	4.38%	2.73%	1.16%	2.92%	3.63%	0.89%

Frequently Asked Questions

Can I hold both IMTG and JMBS in my portfolio?

With a correlation of 0.96, IMTG and JMBS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IMTG or JMBS?

On fees, IMTG is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMTG or JMBS?

IMTG is cheaper with a 0.22% expense ratio, compared with 0.32% for JMBS.

Which ETF pays a higher dividend yield, IMTG or JMBS?

JMBS has the higher dividend yield at 5.15%, compared with 1.28% for IMTG.

What is the main difference between IMTG and JMBS?

They also come from different issuers: Invesco and Janus Henderson. Their fees differ too: 0.22% for IMTG and 0.32% for JMBS.