JMTG vs. MBB
JMTG (JPMorgan Mortgage-Backed Securities ETF) and MBB (iShares MBS Bond ETF) are both Mortgage Backed Securities funds. JMTG is actively managed, while MBB is passively managed. Over the past year, JMTG returned 5.00% vs 4.79% for MBB. Their correlation of 0.91 suggests significant overlap in exposure. JMTG charges 0.24%/yr vs 0.06%/yr for MBB.
Performance
JMTG vs. MBB - Performance Comparison
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Returns By Period
In the year-to-date period, JMTG achieves a 0.40% return, which is significantly higher than MBB's 0.02% return.
JMTG
- 1D
- -0.34%
- 1M
- -0.41%
- 6M
- 0.12%
- YTD
- 0.40%
- 1Y
- 5.00%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MBB
- 1D
- -0.49%
- 1M
- -0.83%
- 6M
- -0.43%
- YTD
- 0.02%
- 1Y
- 4.79%
- 3Y*
- 4.12%
- 5Y*
- 0.21%
- 10Y*
- 1.19%
JMTG vs. MBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 0.40% | 3.94% |
MBB iShares MBS Bond ETF | 0.02% | 4.38% |
Correlation
The correlation between JMTG and MBB is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.91 |
The correlation between JMTG and MBB has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
JMTG vs. MBB — Risk / Return Rank
JMTG
MBB
JMTG vs. MBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) and iShares MBS Bond ETF (MBB). 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 | MBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.19 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.63 | +0.18 |
| Martin ratioReturn relative to average drawdown | 4.98 | 4.97 | +0.01 |
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Drawdowns
JMTG vs. MBB - Drawdown Comparison
The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum MBB drawdown of -17.64%. Use the drawdown chart below to compare losses from any high point for JMTG and MBB.
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Drawdown Indicators
| JMTG | MBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.78% | -17.64% | +14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.94% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.59% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.64% | — |
Current DrawdownCurrent decline from peak | -1.85% | -2.06% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -2.34% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.97% | +0.04% |
Volatility
JMTG vs. MBB - Volatility Comparison
The current volatility for JPMorgan Mortgage-Backed Securities ETF (JMTG) is 1.22%, while iShares MBS Bond ETF (MBB) has a volatility of 1.44%. This indicates that JMTG experiences smaller price fluctuations and is considered to be less risky than MBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JMTG | MBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.44% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 3.44% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 4.43% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.70% | 6.84% | -3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 5.33% | -1.63% |
JMTG vs. MBB - Expense Ratio Comparison
JMTG has a 0.24% expense ratio, which is higher than MBB's 0.06% 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%.
Dividends
JMTG vs. MBB - Dividend Comparison
JMTG's dividend yield for the trailing twelve months is around 4.32%, which matches MBB's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 4.32% | 2.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MBB iShares MBS Bond ETF | 4.32% | 4.21% | 3.94% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.64% | 2.23% | 2.58% | 2.66% |
Frequently Asked Questions
With a correlation of 0.92, JMTG and MBB 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.
MBB has higher volatility (1.44%) compared to JMTG (1.22%). In terms of maximum drawdown, JMTG dropped -2.78% vs MBB's -17.64%.
On 1-year performance, JMTG leads with 5.00% vs 4.79% for MBB. On fees, MBB is cheaper at 0.06% per year. On volatility, JMTG has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JMTG has performed better with a 5.00% return vs 4.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBB is cheaper with a 0.06% expense ratio, compared with 0.24% for JMTG.
JMTG and MBB have nearly identical dividend yields, around 4.32%.
They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.24% for JMTG and 0.06% for MBB.
JMTG currently has the higher Sharpe Ratio (1.36 vs 1.09), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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