PMBS vs. JMTG
PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) and JMTG (JPMorgan Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. PMBS charges 0.71%/yr vs 0.24%/yr for JMTG.
Performance
PMBS vs. JMTG - Performance Comparison
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Returns By Period
In the year-to-date period, PMBS achieves a 1.05% return, which is significantly higher than JMTG's 0.51% return.
PMBS
- 1D
- 0.09%
- 1M
- 0.57%
- YTD
- 1.05%
- 6M
- 1.21%
- 1Y
- 6.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JMTG
- 1D
- -0.20%
- 1M
- 0.48%
- YTD
- 0.51%
- 6M
- 0.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PMBS vs. JMTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 1.05% | 4.78% |
JMTG JPMorgan Mortgage-Backed Securities ETF | 0.51% | 3.94% |
Correlation
The correlation between PMBS and JMTG is 0.91, 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 Jun 30, 2025 | 0.91 |
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Return for Risk
PMBS vs. JMTG — Risk / Return Rank
PMBS
JMTG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PMBS vs. JMTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and JPMorgan Mortgage-Backed Securities ETF (JMTG). 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.
| PMBS | JMTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.28 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | — | — |
| Martin ratioReturn relative to average drawdown | 6.99 | — | — |
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Drawdowns
PMBS vs. JMTG - Drawdown Comparison
The maximum PMBS drawdown since its inception was -4.35%, which is greater than JMTG's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for PMBS and JMTG.
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Drawdown Indicators
| PMBS | JMTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.35% | -2.78% | -1.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.97% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -1.74% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -1.15% | -0.71% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | — | — |
Volatility
PMBS vs. JMTG - Volatility Comparison
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Volatility by Period
| PMBS | JMTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.20% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 3.70% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 3.70% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.87% | 3.70% | +1.17% |
PMBS vs. JMTG - Expense Ratio Comparison
PMBS has a 0.71% expense ratio, which is higher than JMTG's 0.24% expense ratio.
Dividends
PMBS vs. JMTG - Dividend Comparison
PMBS's dividend yield for the trailing twelve months is around 4.98%, more than JMTG's 3.91% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
JMTG JPMorgan Mortgage-Backed Securities ETF | 3.91% | 2.10% | 0.00% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.98% | 4.73% | 1.59% |
Frequently Asked Questions
With a correlation of 0.91, PMBS and JMTG 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, JMTG is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMTG is cheaper with a 0.24% expense ratio, compared with 0.71% for PMBS.
PMBS has the higher dividend yield at 4.98%, compared with 3.91% for JMTG.
They also come from different issuers: PIMCO and JPMorgan. Their fees differ too: 0.71% for PMBS and 0.24% for JMTG.
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