SMBS vs. IBTL
Compare and contrast key facts about Schwab Mortgage-Backed Securities ETF (SMBS) and iShares iBonds Dec 2031 Term Treasury ETF (IBTL).
SMBS and IBTL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMBS is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US MBS Float Adjusted Total Return Index. It was launched on Nov 18, 2024. IBTL is a passively managed fund by iShares that tracks the performance of the ICE 2031 Maturity US Treasury Index. It was launched on Jul 13, 2021. Both SMBS and IBTL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SMBS vs. IBTL - Performance Comparison
Loading graphics...
SMBS vs. IBTL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMBS Schwab Mortgage-Backed Securities ETF | 0.47% | 8.15% | -0.07% |
IBTL iShares iBonds Dec 2031 Term Treasury ETF | -0.14% | 7.85% | -0.28% |
Returns By Period
In the year-to-date period, SMBS achieves a 0.47% return, which is significantly higher than IBTL's -0.14% return.
SMBS
- 1D
- 0.11%
- 1M
- -1.15%
- YTD
- 0.47%
- 6M
- 1.88%
- 1Y
- 5.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTL
- 1D
- -0.13%
- 1M
- -1.32%
- YTD
- -0.14%
- 6M
- 0.64%
- 1Y
- 3.97%
- 3Y*
- 2.58%
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
SMBS vs. IBTL - Expense Ratio Comparison
SMBS has a 0.03% expense ratio, which is lower than IBTL's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
SMBS vs. IBTL — Risk / Return Rank
SMBS
IBTL
SMBS vs. IBTL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Mortgage-Backed Securities ETF (SMBS) and iShares iBonds Dec 2031 Term Treasury ETF (IBTL). 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.
| SMBS | IBTL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 0.94 | +0.13 |
Sortino ratioReturn per unit of downside risk | 1.54 | 1.41 | +0.13 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.69 | +0.23 |
Martin ratioReturn relative to average drawdown | 5.53 | 4.83 | +0.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| SMBS | IBTL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 0.94 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | -0.20 | +1.49 |
Correlation
The correlation between SMBS and IBTL is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SMBS vs. IBTL - Dividend Comparison
SMBS's dividend yield for the trailing twelve months is around 4.82%, more than IBTL's 3.95% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SMBS Schwab Mortgage-Backed Securities ETF | 4.82% | 4.83% | 0.50% | 0.00% | 0.00% | 0.00% |
IBTL iShares iBonds Dec 2031 Term Treasury ETF | 3.95% | 3.93% | 4.07% | 3.04% | 2.36% | 0.70% |
Drawdowns
SMBS vs. IBTL - Drawdown Comparison
The maximum SMBS drawdown since its inception was -3.20%, smaller than the maximum IBTL drawdown of -20.93%. Use the drawdown chart below to compare losses from any high point for SMBS and IBTL.
Loading graphics...
Drawdown Indicators
| SMBS | IBTL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.20% | -20.93% | +17.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.48% | -0.35% |
Current DrawdownCurrent decline from peak | -1.56% | -6.95% | +5.39% |
Average DrawdownAverage peak-to-trough decline | -0.77% | -11.63% | +10.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.87% | +0.12% |
Volatility
SMBS vs. IBTL - Volatility Comparison
Schwab Mortgage-Backed Securities ETF (SMBS) has a higher volatility of 1.83% compared to iShares iBonds Dec 2031 Term Treasury ETF (IBTL) at 1.31%. This indicates that SMBS's price experiences larger fluctuations and is considered to be riskier than IBTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| SMBS | IBTL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.31% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 2.37% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.77% | 4.23% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.91% | 7.57% | -2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 7.57% | -2.66% |