MBBA vs. PMBS
MBBA (iShares Mortgage-Backed Securities Active ETF) and PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.90 means they have usually moved in the same direction. MBBA charges 0.25%/yr vs 0.71%/yr for PMBS.
Performance
MBBA vs. PMBS - Performance Comparison
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Returns By Period
MBBA
- 1D
- 0.39%
- 1M
- -0.86%
- 6M
- -0.09%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
PMBS
- 1D
- 0.23%
- 1M
- -1.24%
- 6M
- -0.59%
- YTD
- 0.07%
- 1Y
- 3.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $431.77K | $417.52K | $899.94K | |
| $4.24M | $3.71M | $5.44M |
MBBA vs. PMBS - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MBBA iShares Mortgage-Backed Securities Active ETF | 0.22% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | -0.57% |
Correlation
The correlation between MBBA and PMBS is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 26, 2026 | 0.90 |
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Return for Risk
MBBA vs. PMBS — Risk / Return Rank
MBBA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PMBS
MBBA vs. PMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage-Backed Securities Active ETF (MBBA) 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.
| MBBA | PMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.16 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.26 | — |
| Martin ratioReturn relative to average drawdown | — | 3.46 | — |
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Drawdowns
MBBA vs. PMBS - Drawdown Comparison
The maximum MBBA drawdown since its inception was -2.83%, smaller than the maximum PMBS drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for MBBA and PMBS.
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Drawdown Indicators
| MBBA | PMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.83% | -4.35% | +1.52% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.97% | — |
Current DrawdownCurrent decline from peak | -1.76% | -2.37% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -1.16% | -1.18% | +0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.08% | — |
Volatility
MBBA vs. PMBS - Volatility Comparison
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Volatility by Period
| MBBA | PMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.30% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.39% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 4.14% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.55% | 4.85% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 4.85% | -0.30% |
MBBA vs. PMBS - Expense Ratio Comparison
MBBA has a 0.25% expense ratio, which is lower than PMBS's 0.71% expense ratio.
Dividends
MBBA vs. PMBS - Dividend Comparison
MBBA's dividend yield for the trailing twelve months is around 2.63%, less than PMBS's 4.98% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
MBBA iShares Mortgage-Backed Securities Active ETF | 2.63% | 0.00% | 0.00% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.98% | 4.73% | 1.59% |
Frequently Asked Questions
With a correlation of 0.90, MBBA 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, MBBA is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MBBA is cheaper with a 0.25% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 2.63% for MBBA.
They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.25% for MBBA and 0.71% for PMBS.
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