JMTG vs. SPMB
JMTG (JPMorgan Mortgage-Backed Securities ETF) and SPMB (SPDR Portfolio Mortgage Backed Bond ETF) are both Mortgage Backed Securities funds. JMTG is actively managed, while SPMB is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. JMTG charges 0.24%/yr vs 0.04%/yr for SPMB.
Performance
JMTG vs. SPMB - Performance Comparison
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Returns By Period
In the year-to-date period, JMTG achieves a 0.51% return, which is significantly lower than SPMB's 0.88% return.
JMTG
- 1D
- -0.20%
- 1M
- 0.48%
- YTD
- 0.51%
- 6M
- 0.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPMB
- 1D
- 0.11%
- 1M
- 0.77%
- YTD
- 0.88%
- 6M
- 0.94%
- 1Y
- 5.90%
- 3Y*
- 4.31%
- 5Y*
- 0.41%
- 10Y*
- 1.29%
JMTG vs. SPMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 0.51% | 3.94% |
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 0.88% | 4.31% |
Correlation
The correlation between JMTG and SPMB 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. SPMB — Risk / Return Rank
JMTG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPMB
JMTG vs. SPMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) and SPDR Portfolio Mortgage Backed Bond ETF (SPMB). 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 | SPMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.05 | — |
| Martin ratioReturn relative to average drawdown | — | 6.35 | — |
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Drawdowns
JMTG vs. SPMB - Drawdown Comparison
The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum SPMB drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for JMTG and SPMB.
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Drawdown Indicators
| JMTG | SPMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.78% | -18.03% | +15.25% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.89% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.66% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.03% | — |
Current DrawdownCurrent decline from peak | -1.74% | -1.23% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -2.85% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.93% | — |
Volatility
JMTG vs. SPMB - Volatility Comparison
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Volatility by Period
| JMTG | SPMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.23% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.17% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 4.23% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.70% | 6.79% | -3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.70% | 7.61% | -3.91% |
JMTG vs. SPMB - Expense Ratio Comparison
JMTG has a 0.24% expense ratio, which is higher than SPMB's 0.04% 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. SPMB - Dividend Comparison
JMTG's dividend yield for the trailing twelve months is around 3.91%, less than SPMB's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 4.07% | 3.98% | 3.76% | 3.21% | 2.98% | 2.59% | 2.95% | 3.24% | 3.36% | 3.13% | 2.99% | 3.05% |
Frequently Asked Questions
With a correlation of 0.92, JMTG and SPMB 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, SPMB is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPMB is cheaper with a 0.04% expense ratio, compared with 0.24% for JMTG.
SPMB has the higher dividend yield at 4.07%, compared with 3.91% for JMTG.
They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.24% for JMTG and 0.04% for SPMB.
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