SPMB vs. PMBS
Compare and contrast key facts about SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS).
SPMB and PMBS 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. PMBS is an actively managed fund by PIMCO. It was launched on Jul 31, 1997.
Performance
SPMB vs. PMBS - Performance Comparison
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SPMB vs. PMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 0.51% | 8.29% | -3.20% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.61% | 8.92% | -2.75% |
Returns By Period
In the year-to-date period, SPMB achieves a 0.51% return, which is significantly lower than PMBS's 0.61% return.
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%
PMBS
- 1D
- 0.33%
- 1M
- -1.84%
- YTD
- 0.61%
- 6M
- 2.40%
- 1Y
- 6.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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SPMB vs. PMBS - Expense Ratio Comparison
SPMB has a 0.04% expense ratio, which is lower than PMBS's 0.71% expense ratio.
Return for Risk
SPMB vs. PMBS — Risk / Return Rank
SPMB
PMBS
SPMB vs. PMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS). 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 | PMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.18 | 1.31 | -0.13 |
Sortino ratioReturn per unit of downside risk | 1.69 | 1.86 | -0.17 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 2.09 | -0.08 |
Martin ratioReturn relative to average drawdown | 5.76 | 6.06 | -0.30 |
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 | PMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.31 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.87 | -0.53 |
Correlation
The correlation between SPMB and PMBS is 0.95, 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. PMBS - Dividend Comparison
SPMB's dividend yield for the trailing twelve months is around 4.02%, less than PMBS's 4.94% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 3.72% | 3.98% | 3.76% | 3.21% | 2.98% | 2.59% | 2.95% | 3.24% | 3.36% | 3.13% | 2.99% | 3.05% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.58% | 4.73% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPMB vs. PMBS - Drawdown Comparison
The maximum SPMB drawdown since its inception was -18.03%, which is greater than PMBS's maximum drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for SPMB and PMBS.
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Drawdown Indicators
| SPMB | PMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -4.35% | -13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -3.04% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.03% | — | — |
Current DrawdownCurrent decline from peak | -1.58% | -1.84% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -1.11% | -1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.05% | -0.03% |
Volatility
SPMB vs. PMBS - Volatility Comparison
The current volatility for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is 1.83%, while PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) has a volatility of 1.94%. This indicates that SPMB experiences smaller price fluctuations and is considered to be less risky than PMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMB | PMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.94% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.87% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 4.77% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 4.94% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 4.94% | +2.65% |