NSCI vs. SMBS

Last updated Jun 7, 2026

NSCI (Nuveen Securitized Income ETF) and SMBS (Schwab Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. NSCI is actively managed, while SMBS is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. NSCI charges 0.38%/yr vs 0.03%/yr for SMBS.

Performance

NSCI vs. SMBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Securitized Income ETF (NSCI) and Schwab Mortgage-Backed Securities ETF (SMBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NSCI achieves a 1.90% return, which is significantly higher than SMBS's 0.24% return.

NSCI

• 1D: 0.02%
• 1M: 0.37%
• YTD: 1.90%
• 6M: 2.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMBS

• 1D: -0.47%
• 1M: -0.59%
• YTD: 0.24%
• 6M: 0.71%
• 1Y: 6.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NSCI vs. SMBS - Yearly Performance Comparison

	2026 (YTD)	2025
NSCI Nuveen Securitized Income ETF	1.90%	1.66%
SMBS Schwab Mortgage-Backed Securities ETF	0.24%	1.67%

Correlation

The correlation between NSCI and SMBS is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	0.51

Return for Risk

NSCI vs. SMBS — Risk / Return Rank

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

SMBS

SMBS Risk / Return Rank: 43
SMBS Sharpe Ratio Rank: 42
SMBS Sortino Ratio Rank: 44
SMBS Omega Ratio Rank: 41
SMBS Calmar Ratio Rank: 45
SMBS 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.

NSCI vs. SMBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Securitized Income ETF (NSCI) and Schwab Mortgage-Backed Securities ETF (SMBS). 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

	NSCI	SMBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.97	1.11	+2.86

Drawdowns

NSCI vs. SMBS - Drawdown Comparison

The maximum NSCI drawdown since its inception was -1.10%, smaller than the maximum SMBS drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for NSCI and SMBS.

Drawdown Indicators

	NSCI	SMBS	Difference
Max Drawdown Largest peak-to-trough decline	-1.10%	-3.20%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.83%	—
Current Drawdown Current decline from peak	0.00%	-1.78%	+1.78%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.84%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.84%	—

Volatility

Volatility by Period

	NSCI	SMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.32%	4.13%	-2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.32%	4.86%	-3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.32%	4.86%	-3.54%

NSCI vs. SMBS - Expense Ratio Comparison

NSCI has a 0.38% expense ratio, which is higher than SMBS's 0.03% expense ratio.

Dividends

NSCI vs. SMBS - Dividend Comparison

NSCI's dividend yield for the trailing twelve months is around 3.04%, less than SMBS's 5.19% yield.

Position	TTM	2025	2024
NSCI Nuveen Securitized Income ETF	3.04%	1.09%	0.00%
SMBS Schwab Mortgage-Backed Securities ETF	5.19%	4.83%	0.50%

Frequently Asked Questions

Can I hold both NSCI and SMBS in my portfolio?

NSCI and SMBS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NSCI or SMBS?

On fees, SMBS is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NSCI or SMBS?

SMBS is cheaper with a 0.03% expense ratio, compared with 0.38% for NSCI.

Which ETF pays a higher dividend yield, NSCI or SMBS?

SMBS has the higher dividend yield at 5.19%, compared with 3.04% for NSCI.

What is the main difference between NSCI and SMBS?

They also come from different issuers: Nuveen and Charles Schwab. Their fees differ too: 0.38% for NSCI and 0.03% for SMBS.