NEAR vs. CMBS
NEAR (iShares Short Duration Bond Active ETF) and CMBS (iShares CMBS ETF) are both exchange-traded funds - NEAR is a Short-Term Bond fund actively managed by iShares, while CMBS is a Mortgage Backed Securities fund tracking the Barclays Capital U.S. CMBS (ERISA Only) Index. NEAR is actively managed, while CMBS is passively managed. Over the past 10 years, NEAR returned 2.85%/yr vs 2.00%/yr for CMBS. At a 0.25 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
NEAR vs. CMBS - Performance Comparison
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Returns By Period
In the year-to-date period, NEAR achieves a 0.79% return, which is significantly higher than CMBS's 0.25% return. Over the past 10 years, NEAR has outperformed CMBS with an annualized return of 2.85%, while CMBS has yielded a comparatively lower 2.00% annualized return.
NEAR
- 1D
- -0.03%
- 1M
- 0.22%
- YTD
- 0.79%
- 6M
- 1.16%
- 1Y
- 4.12%
- 3Y*
- 5.61%
- 5Y*
- 3.87%
- 10Y*
- 2.85%
CMBS
- 1D
- -0.23%
- 1M
- 0.07%
- YTD
- 0.25%
- 6M
- 0.56%
- 1Y
- 4.12%
- 3Y*
- 5.34%
- 5Y*
- 0.70%
- 10Y*
- 2.00%
NEAR vs. CMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NEAR iShares Short Duration Bond Active ETF | 0.79% | 5.90% | 5.09% | 7.42% | 0.41% | 0.32% | 1.39% | 3.55% | 1.71% | 1.41% |
CMBS iShares CMBS ETF | 0.25% | 7.67% | 4.27% | 5.06% | -11.21% | -1.82% | 7.86% | 7.94% | 0.77% | 2.95% |
Correlation
The correlation between NEAR and CMBS is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2013 | 0.25 |
The correlation between NEAR and CMBS shifts across timeframes, from 0.25 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NEAR vs. CMBS — Risk / Return Rank
NEAR
CMBS
NEAR vs. CMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short Duration Bond Active ETF (NEAR) and iShares CMBS ETF (CMBS). 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.
| NEAR | CMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.20 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 1.67 | +1.92 |
| Martin ratioReturn relative to average drawdown | 16.36 | 4.46 | +11.90 |
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Drawdowns
NEAR vs. CMBS - Drawdown Comparison
The maximum NEAR drawdown since its inception was -9.61%, smaller than the maximum CMBS drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for NEAR and CMBS.
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Drawdown Indicators
| NEAR | CMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.61% | -15.87% | +6.26% |
Max Drawdown (1Y)Largest decline over 1 year | -1.13% | -2.44% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -1.16% | -3.29% | +2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -1.32% | -15.87% | +14.55% |
Max Drawdown (10Y)Largest decline over 10 years | -9.61% | -15.87% | +6.26% |
Current DrawdownCurrent decline from peak | -0.03% | -1.67% | +1.64% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -2.95% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.91% | -0.66% |
Volatility
NEAR vs. CMBS - Volatility Comparison
The current volatility for iShares Short Duration Bond Active ETF (NEAR) is 0.44%, while iShares CMBS ETF (CMBS) has a volatility of 1.10%. This indicates that NEAR experiences smaller price fluctuations and is considered to be less risky than CMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NEAR | CMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 1.10% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 2.81% | -1.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 3.64% | -2.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.34% | 5.31% | -3.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.50% | 5.77% | -3.27% |
NEAR vs. CMBS - Expense Ratio Comparison
Both NEAR and CMBS have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
NEAR vs. CMBS - Dividend Comparison
NEAR's dividend yield for the trailing twelve months is around 4.43%, more than CMBS's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 3.58% | 3.45% | 3.31% | 2.97% | 2.65% | 2.46% | 2.83% | 2.74% | 2.70% | 2.50% | 2.29% | 2.31% |
NEAR iShares Short Duration Bond Active ETF | 4.43% | 4.54% | 5.00% | 4.59% | 1.78% | 0.76% | 1.53% | 2.69% | 2.25% | 1.52% | 1.07% | 0.85% |
Frequently Asked Questions
NEAR and CMBS have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMBS has higher volatility (1.10%) compared to NEAR (0.44%). In terms of maximum drawdown, NEAR dropped -9.61% vs CMBS's -15.87%.
On 10-year performance, NEAR leads with 2.85% vs 2.00% for CMBS. Both ETFs have the same 0.25% expense ratio. On volatility, NEAR has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, NEAR has performed better with a 2.85% return vs 2.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NEAR and CMBS have the same expense ratio: 0.25% per year.
NEAR has the higher dividend yield at 4.43%, compared with 3.58% for CMBS.
NEAR is categorized as Short-Term Bond, while CMBS is Mortgage Backed Securities.
NEAR currently has the higher Sharpe Ratio (2.99 vs 1.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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