SPMB vs. MBB
Compare and contrast key facts about SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and iShares MBS Bond ETF (MBB).
SPMB and MBB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPMB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate Securitized - MBS. It was launched on Jan 15, 2009. MBB is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Mar 16, 2007. Both SPMB and MBB 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
SPMB vs. MBB - Performance Comparison
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SPMB vs. MBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 0.51% | 8.29% | 1.35% | 5.09% | -12.05% | -1.46% | 4.19% | 6.16% | 1.01% | 2.13% |
MBB iShares MBS Bond ETF | 0.41% | 8.38% | 1.31% | 5.01% | -11.74% | -1.43% | 4.08% | 6.18% | 0.82% | 2.49% |
Returns By Period
In the year-to-date period, SPMB achieves a 0.51% return, which is significantly higher than MBB's 0.41% return. Both investments have delivered pretty close results over the past 10 years, with SPMB having a 1.29% annualized return and MBB not far ahead at 1.34%.
SPMB
- 1D
- 0.31%
- 1M
- -1.58%
- YTD
- 0.51%
- 6M
- 1.98%
- 1Y
- 5.73%
- 3Y*
- 4.11%
- 5Y*
- 0.37%
- 10Y*
- 1.29%
MBB
- 1D
- 0.24%
- 1M
- -1.69%
- YTD
- 0.41%
- 6M
- 1.92%
- 1Y
- 5.63%
- 3Y*
- 4.09%
- 5Y*
- 0.40%
- 10Y*
- 1.34%
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SPMB vs. MBB - Expense Ratio Comparison
SPMB has a 0.04% expense ratio, which is lower than MBB's 0.06% 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
SPMB vs. MBB — Risk / Return Rank
SPMB
MBB
SPMB vs. MBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and iShares MBS Bond ETF (MBB). 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.
| SPMB | MBB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.18 | 1.14 | +0.04 |
Sortino ratioReturn per unit of downside risk | 1.69 | 1.63 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.20 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.18 | -0.18 |
Martin ratioReturn relative to average drawdown | 5.76 | 6.00 | -0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPMB | MBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.14 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.06 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.25 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.59 | -0.25 |
Correlation
The correlation between SPMB and MBB is 0.71, 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
SPMB vs. MBB - Dividend Comparison
SPMB's dividend yield for the trailing twelve months is around 4.02%, less than MBB's 4.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 4.02% | 3.98% | 3.76% | 3.21% | 2.98% | 2.59% | 2.95% | 3.24% | 3.36% | 3.13% | 2.99% | 3.05% |
MBB iShares MBS Bond ETF | 4.22% | 4.21% | 3.94% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.64% | 2.23% | 2.58% | 2.66% |
Drawdowns
SPMB vs. MBB - Drawdown Comparison
The maximum SPMB drawdown since its inception was -18.03%, roughly equal to the maximum MBB drawdown of -17.64%. Use the drawdown chart below to compare losses from any high point for SPMB and MBB.
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Drawdown Indicators
| SPMB | MBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -17.64% | -0.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.64% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -17.19% | -0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -18.03% | -17.64% | -0.39% |
Current DrawdownCurrent decline from peak | -1.58% | -1.69% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -2.36% | -0.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.96% | +0.06% |
Volatility
SPMB vs. MBB - Volatility Comparison
The current volatility for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is 1.83%, while iShares MBS Bond ETF (MBB) has a volatility of 1.98%. This indicates that SPMB experiences smaller price fluctuations and is considered to be less risky than MBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMB | MBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.98% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 3.00% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 4.97% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 6.77% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 5.27% | +2.32% |