JMTG vs. PMBS
JMTG (JPMorgan Mortgage-Backed Securities ETF) and PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. JMTG charges 0.24%/yr vs 0.71%/yr for PMBS.
Performance
JMTG vs. PMBS - Performance Comparison
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Returns By Period
In the year-to-date period, JMTG achieves a 0.71% return, which is significantly lower than PMBS's 0.96% return.
JMTG
- 1D
- -0.14%
- 1M
- 0.68%
- YTD
- 0.71%
- 6M
- 0.77%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMBS
- 1D
- -0.21%
- 1M
- 0.47%
- YTD
- 0.96%
- 6M
- 1.11%
- 1Y
- 6.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JMTG vs. PMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 0.71% | 3.94% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.96% | 4.78% |
Correlation
The correlation between JMTG and PMBS 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 (All Time) Calculated using the full available price history since Jun 30, 2025 | 0.92 |
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Return for Risk
JMTG vs. PMBS — Risk / Return Rank
JMTG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PMBS
JMTG vs. PMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) and PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS). 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 | PMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.24 | — |
| Martin ratioReturn relative to average drawdown | — | 7.15 | — |
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Drawdowns
JMTG vs. PMBS - Drawdown Comparison
The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum PMBS drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for JMTG and PMBS.
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Drawdown Indicators
| JMTG | PMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.78% | -4.35% | +1.57% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.97% | — |
Current DrawdownCurrent decline from peak | -1.54% | -1.49% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -1.15% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.93% | — |
Volatility
JMTG vs. PMBS - Volatility Comparison
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Volatility by Period
| JMTG | PMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.28% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.21% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 4.20% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.70% | 4.88% | -1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 4.88% | -1.18% |
JMTG vs. PMBS - Expense Ratio Comparison
JMTG has a 0.24% expense ratio, which is lower than PMBS's 0.71% expense ratio.
Dividends
JMTG vs. PMBS - Dividend Comparison
JMTG's dividend yield for the trailing twelve months is around 3.91%, less than PMBS's 4.98% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 3.91% | 2.10% | 0.00% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.98% | 4.73% | 1.59% |
Frequently Asked Questions
With a correlation of 0.92, JMTG and PMBS 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.
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 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 3.91% for JMTG.
They also come from different issuers: JPMorgan and PIMCO. Their fees differ too: 0.24% for JMTG and 0.71% for PMBS.
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