MBBA vs. SPMB

Last updated Jun 4, 2026

MBBA (iShares Mortgage-Backed Securities Active ETF) and SPMB (SPDR Portfolio Mortgage Backed Bond ETF) are both Mortgage Backed Securities funds. MBBA is actively managed, while SPMB is passively managed. Their correlation of 0.88 suggests significant overlap in exposure. MBBA charges 0.25%/yr vs 0.04%/yr for SPMB.

Performance

MBBA vs. SPMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Mortgage-Backed Securities Active ETF (MBBA) and SPDR Portfolio Mortgage Backed Bond ETF (SPMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MBBA

• 1D: -0.16%
• 1M: 0.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPMB

• 1D: 0.14%
• 1M: 0.22%
• YTD: 0.65%
• 6M: 0.95%
• 1Y: 6.29%
• 3Y*: 4.42%
• 5Y*: 0.31%
• 10Y*: 1.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MBBA vs. SPMB - Yearly Performance Comparison

	2026 (YTD)
MBBA iShares Mortgage-Backed Securities Active ETF	0.64%
SPMB SPDR Portfolio Mortgage Backed Bond ETF	0.09%

Correlation

The correlation between MBBA and SPMB is 0.88, 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 Jan 27, 2026	0.88

Return for Risk

MBBA vs. SPMB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPMB

SPMB Risk / Return Rank: 44
SPMB Sharpe Ratio Rank: 43
SPMB Sortino Ratio Rank: 45
SPMB Omega Ratio Rank: 43
SPMB Calmar Ratio Rank: 45
SPMB Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MBBA vs. SPMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage-Backed Securities Active ETF (MBBA) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MBBA	SPMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.49	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.17	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.34	+0.06

Drawdowns

MBBA vs. SPMB - Drawdown Comparison

The maximum MBBA drawdown since its inception was -2.83%, smaller than the maximum SPMB drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for MBBA and SPMB.

Drawdown Indicators

	MBBA	SPMB	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-18.03%	+15.20%
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 Drawdown Current decline from peak	-1.17%	-1.45%	+0.28%
Average Drawdown Average peak-to-trough decline	-1.12%	-2.85%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.88%	—

Volatility

Volatility by Period

	MBBA	SPMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.66%	4.28%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.66%	6.77%	-2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.66%	7.61%	-2.95%

MBBA vs. SPMB - Expense Ratio Comparison

MBBA has a 0.25% 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

MBBA vs. SPMB - Dividend Comparison

MBBA's dividend yield for the trailing twelve months is around 1.84%, less than SPMB's 4.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBBA iShares Mortgage-Backed Securities Active ETF	1.84%	0.00%	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	4.08%	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

Can I hold both MBBA and SPMB in my portfolio?

MBBA and SPMB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MBBA or SPMB?

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.

Which ETF is cheaper, MBBA or SPMB?

SPMB is cheaper with a 0.04% expense ratio, compared with 0.25% for MBBA.

Which ETF pays a higher dividend yield, MBBA or SPMB?

SPMB has the higher dividend yield at 4.08%, compared with 1.84% for MBBA.

What is the main difference between MBBA and SPMB?

They also come from different issuers: iShares and State Street. Their fees differ too: 0.25% for MBBA and 0.04% for SPMB.