SMBS vs. ASEC

Last updated Jul 14, 2026

SMBS (Schwab Mortgage-Backed Securities ETF) and ASEC (American Century Securitized Credit ETF) are both Mortgage Backed Securities funds. SMBS is passively managed, while ASEC is actively managed. At a 0.14 correlation, their price movements are largely independent. SMBS charges 0.03%/yr vs 0.29%/yr for ASEC.

Performance

SMBS vs. ASEC - Performance Comparison

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

Returns By Period

SMBS

• 1D: -0.50%
• 1M: -0.70%
• 6M: -0.44%
• YTD: 0.20%
• 1Y: 4.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASEC

• 1D: -0.04%
• 1M: 0.09%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMBS vs. ASEC - Yearly Performance Comparison

	2026 (YTD)
SMBS Schwab Mortgage-Backed Securities ETF	-0.31%
ASEC American Century Securitized Credit ETF	-0.09%

Correlation

The correlation between SMBS and ASEC is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.14

Return for Risk

SMBS vs. ASEC — Risk / Return Rank

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

SMBS

SMBS Risk / Return Rank: 40
SMBS Sharpe Ratio Rank: 40
SMBS Sortino Ratio Rank: 39
SMBS Omega Ratio Rank: 38
SMBS Calmar Ratio Rank: 41
SMBS Martin Ratio Rank: 41

ASEC

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

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.

SMBS vs. ASEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Mortgage-Backed Securities ETF (SMBS) and American Century Securitized Credit ETF (ASEC). 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.

	SMBS	ASEC	Difference
Sharpe ratio: Return per unit of total volatility	1.14	—	—
Sortino ratio: Return per unit of downside risk	1.66	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.67	—	—
Martin ratio: Return relative to average drawdown	5.29	—	—

Drawdowns

SMBS vs. ASEC - Drawdown Comparison

The maximum SMBS drawdown since its inception was -3.20%, which is greater than ASEC's maximum drawdown of -0.46%. Use the drawdown chart below to compare losses from any high point for SMBS and ASEC.

Drawdown Indicators

	SMBS	ASEC	Difference
Max Drawdown Largest peak-to-trough decline	-3.20%	-0.46%	-2.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	—	—
Current Drawdown Current decline from peak	-1.83%	-0.19%	-1.64%
Average Drawdown Average peak-to-trough decline	-0.86%	-0.19%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	—	—

Volatility

Volatility by Period

	SMBS	ASEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.13%	1.44%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.85%	1.44%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.85%	1.44%	+3.41%

SMBS vs. ASEC - Expense Ratio Comparison

SMBS has a 0.03% expense ratio, which is lower than ASEC's 0.29% expense ratio.

Dividends

SMBS vs. ASEC - Dividend Comparison

SMBS's dividend yield for the trailing twelve months is around 5.22%, more than ASEC's 0.46% yield.

Position	TTM	2025	2024
ASEC American Century Securitized Credit ETF	0.46%	0.00%	0.00%
SMBS Schwab Mortgage-Backed Securities ETF	5.22%	4.83%	0.50%

Frequently Asked Questions

Can I hold both SMBS and ASEC in my portfolio?

SMBS and ASEC have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SMBS or ASEC?

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, SMBS or ASEC?

SMBS is cheaper with a 0.03% expense ratio, compared with 0.29% for ASEC.

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

SMBS has the higher dividend yield at 5.22%, compared with 0.46% for ASEC.

What is the main difference between SMBS and ASEC?

They also come from different issuers: Charles Schwab and American Century. Their fees differ too: 0.03% for SMBS and 0.29% for ASEC.