LMBS vs. SPY
Compare and contrast key facts about First Trust Low Duration Mortgage Opportunities ETF (LMBS) and State Street SPDR S&P 500 ETF (SPY).
LMBS and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LMBS is an actively managed fund by First Trust. It was launched on Nov 4, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
LMBS vs. SPY - Performance Comparison
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LMBS vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LMBS First Trust Low Duration Mortgage Opportunities ETF | 0.66% | 7.05% | 5.15% | 6.10% | -3.07% | -0.91% | 1.64% | 4.10% | 1.62% | 1.68% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, LMBS achieves a 0.66% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, LMBS has underperformed SPY with an annualized return of 2.84%, while SPY has yielded a comparatively higher 13.98% annualized return.
LMBS
- 1D
- 0.22%
- 1M
- -0.91%
- YTD
- 0.66%
- 6M
- 2.10%
- 1Y
- 5.57%
- 3Y*
- 5.69%
- 5Y*
- 2.95%
- 10Y*
- 2.84%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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LMBS vs. SPY - Expense Ratio Comparison
LMBS has a 0.68% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
LMBS vs. SPY — Risk / Return Rank
LMBS
SPY
LMBS vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Low Duration Mortgage Opportunities ETF (LMBS) and State Street SPDR S&P 500 ETF (SPY). 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.
| LMBS | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.18 | 0.93 | +1.25 |
Sortino ratioReturn per unit of downside risk | 2.91 | 1.45 | +1.45 |
Omega ratioGain probability vs. loss probability | 1.47 | 1.22 | +0.24 |
Calmar ratioReturn relative to maximum drawdown | 3.25 | 1.53 | +1.72 |
Martin ratioReturn relative to average drawdown | 13.96 | 7.30 | +6.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LMBS | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | 0.93 | +1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.16 | 0.69 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.20 | 0.78 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.56 | +0.56 |
Correlation
The correlation between LMBS and SPY is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
LMBS vs. SPY - Dividend Comparison
LMBS's dividend yield for the trailing twelve months is around 4.10%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LMBS First Trust Low Duration Mortgage Opportunities ETF | 4.10% | 4.08% | 4.28% | 3.96% | 2.22% | 2.04% | 2.27% | 2.55% | 2.76% | 2.73% | 2.84% | 3.03% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
LMBS vs. SPY - Drawdown Comparison
The maximum LMBS drawdown since its inception was -6.49%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for LMBS and SPY.
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Drawdown Indicators
| LMBS | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.49% | -55.19% | +48.70% |
Max Drawdown (1Y)Largest decline over 1 year | -1.72% | -12.05% | +10.33% |
Max Drawdown (5Y)Largest decline over 5 years | -6.16% | -24.50% | +18.34% |
Max Drawdown (10Y)Largest decline over 10 years | -6.49% | -33.72% | +27.23% |
Current DrawdownCurrent decline from peak | -0.91% | -6.24% | +5.33% |
Average DrawdownAverage peak-to-trough decline | -0.81% | -9.09% | +8.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 2.52% | -2.12% |
Volatility
LMBS vs. SPY - Volatility Comparison
The current volatility for First Trust Low Duration Mortgage Opportunities ETF (LMBS) is 0.88%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that LMBS experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LMBS | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 5.31% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 1.37% | 9.47% | -8.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 19.05% | -16.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.55% | 17.06% | -14.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 17.92% | -15.54% |