JMTG vs. CMBS
JMTG (JPMorgan Mortgage-Backed Securities ETF) and CMBS (iShares CMBS ETF) are both Mortgage Backed Securities funds. JMTG is actively managed, while CMBS is passively managed. At a 0.37 correlation, their price movements are largely independent. JMTG charges 0.24%/yr vs 0.25%/yr for CMBS.
Performance
JMTG vs. CMBS - Performance Comparison
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Returns By Period
In the year-to-date period, JMTG achieves a 0.51% return, which is significantly higher than CMBS's 0.39% return.
JMTG
- 1D
- -0.20%
- 1M
- 0.48%
- YTD
- 0.51%
- 6M
- 0.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CMBS
- 1D
- 0.13%
- 1M
- 0.44%
- YTD
- 0.39%
- 6M
- 0.39%
- 1Y
- 3.77%
- 3Y*
- 5.32%
- 5Y*
- 0.79%
- 10Y*
- 2.03%
JMTG vs. CMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 0.51% | 3.94% |
CMBS iShares CMBS ETF | 0.39% | 2.82% |
Correlation
The correlation between JMTG and CMBS is 0.37, 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 Jun 30, 2025 | 0.37 |
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Return for Risk
JMTG vs. CMBS — Risk / Return Rank
JMTG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CMBS
JMTG vs. CMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) and iShares CMBS ETF (CMBS). 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.
| JMTG | CMBS | 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 | — | 1.55 | — |
| Martin ratioReturn relative to average drawdown | — | 4.03 | — |
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Drawdowns
JMTG vs. CMBS - Drawdown Comparison
The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum CMBS drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for JMTG and CMBS.
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Drawdown Indicators
| JMTG | CMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.78% | -15.87% | +13.09% |
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 | -1.74% | -1.53% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -2.95% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.94% | — |
Volatility
JMTG vs. CMBS - Volatility Comparison
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Volatility by Period
| JMTG | CMBS | 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 | 3.70% | 3.68% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.70% | 5.32% | -1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 5.76% | -2.06% |
JMTG vs. CMBS - Expense Ratio Comparison
JMTG has a 0.24% expense ratio, which is lower than CMBS's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
JMTG vs. CMBS - Dividend Comparison
JMTG's dividend yield for the trailing twelve months is around 3.91%, more than CMBS's 3.57% 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% |
JMTG JPMorgan Mortgage-Backed Securities ETF | 3.91% | 2.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JMTG and CMBS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMTG is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMTG is cheaper with a 0.24% expense ratio, compared with 0.25% for CMBS.
JMTG has the higher dividend yield at 3.91%, compared with 3.57% for CMBS.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.24% for JMTG and 0.25% for CMBS.
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