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SPMB vs. REM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPMB vs. REM

Last updated Jun 5, 2026

SPMB (SPDR Portfolio Mortgage Backed Bond ETF) and REM (iShares Mortgage Real Estate ETF) are both exchange-traded funds - SPMB is a Mortgage Backed Securities fund tracking the Bloomberg US Aggregate Securitized - MBS, while REM is a REIT fund tracking the FTSE NAREIT All Mortgage Capped Index. Both are passively managed. Over the past 10 years, SPMB returned 1.26%/yr vs 2.70%/yr for REM. At a 0.14 correlation, their price movements are largely independent. SPMB charges 0.04%/yr vs 0.48%/yr for REM.

Performance

SPMB vs. REM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and iShares Mortgage Real Estate ETF (REM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPMB achieves a 0.65% return, which is significantly higher than REM's -0.83% return. Over the past 10 years, SPMB has underperformed REM with an annualized return of 1.26%, while REM has yielded a comparatively higher 2.70% annualized return.

SPMB

1D
0.14%
1M
0.22%
YTD
0.65%
6M
0.95%
1Y
6.29%
3Y*
4.42%
5Y*
0.31%
10Y*
1.26%

REM

1D
1.30%
1M
-4.17%
YTD
-0.83%
6M
-0.35%
1Y
12.88%
3Y*
8.72%
5Y*
-2.23%
10Y*
2.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMB vs. REM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPMB
SPDR Portfolio Mortgage Backed Bond ETF		0.65%8.29%1.35%5.09%-12.05%-1.46%4.19%6.16%1.01%2.13%
REM
iShares Mortgage Real Estate ETF		-0.83%13.30%-1.00%14.43%-27.56%16.14%-19.99%21.34%-3.09%18.43%

Correlation

The correlation between SPMB and REM is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.41

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.31

Correlation (10Y)
Calculated over the trailing 10-year period

0.20

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2009

0.14

Over the past year, SPMB and REM have become more correlated (0.41) than their long-term average of 0.14, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio Mortgage Backed Bond ETF

iShares Mortgage Real Estate ETF

Often compared with SPMB:
SPMB vs. VMBSSPMB vs. SPTISPMB vs. MBSDSPMB vs. GSSTSPMB vs. BNDSPMB vs. QQQSPMB vs. GNMA
Often compared with REM:
REM vs. MORTREM vs. VNQREM vs. REETREM vs. IYRREM vs. NLYREM vs. OREM vs. QQQ

Return for Risk

SPMB vs. REM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPMB
SPMB Risk / Return Rank: 4444
Overall Rank
SPMB Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
SPMB Sortino Ratio Rank: 4545
Sortino Ratio Rank
SPMB Omega Ratio Rank: 4343
Omega Ratio Rank
SPMB Calmar Ratio Rank: 4545
Calmar Ratio Rank
SPMB Martin Ratio Rank: 4545
Martin Ratio Rank
REM
REM Risk / Return Rank: 2222
Overall Rank
REM Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
REM Sortino Ratio Rank: 2222
Sortino Ratio Rank
REM Omega Ratio Rank: 2222
Omega Ratio Rank
REM Calmar Ratio Rank: 2121
Calmar Ratio Rank
REM Martin Ratio Rank: 2121
Martin Ratio Rank
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.

SPMB vs. REM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and iShares Mortgage Real Estate ETF (REM). 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.

SPMBREMDifference
Sharpe ratioReturn per unit of total volatility
1.49
0.77

+0.72

Sortino ratioReturn per unit of downside risk
2.22
1.15

+1.07

Omega ratioGain probability vs. loss probability

1.27

1.14

+0.13

Calmar ratioReturn relative to maximum drawdown

2.19

0.91

+1.28

Martin ratioReturn relative to average drawdown

7.16

2.59

+4.57

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPMB vs. REM - Sharpe Ratio Comparison

The current SPMB Sharpe Ratio is 1.49, which is higher than the REM Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of SPMB and REM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPMBREMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

0.77

+0.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.05

-0.10

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.17

0.10

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

-0.04

+0.38

Drawdowns

SPMB vs. REM - Drawdown Comparison

The maximum SPMB drawdown since its inception was -18.03%, smaller than the maximum REM drawdown of -74.73%. Use the drawdown chart below to compare losses from any high point for SPMB and REM.

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Drawdown Indicators

SPMBREMDifference

Max Drawdown

Largest peak-to-trough decline

-18.03%

-74.73%

+56.70%

Max Drawdown (1Y)

Largest decline over 1 year

-2.89%

-14.25%

+11.36%

Max Drawdown (3Y)

Largest decline over 3 years

-7.66%

-21.91%

+14.25%

Max Drawdown (5Y)

Largest decline over 5 years

-17.49%

-43.31%

+25.82%

Max Drawdown (10Y)

Largest decline over 10 years

-18.03%

-68.52%

+50.49%

Current Drawdown

Current decline from peak

-1.45%

-22.86%

+21.41%

Average Drawdown

Average peak-to-trough decline

-2.85%

-38.34%

+35.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

4.98%

-4.10%

Volatility

SPMB vs. REM - Volatility Comparison

The current volatility for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is 1.58%, while iShares Mortgage Real Estate ETF (REM) has a volatility of 4.03%. This indicates that SPMB experiences smaller price fluctuations and is considered to be less risky than REM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPMBREMDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.58%

4.03%

-2.45%

Volatility (6M)

Calculated over the trailing 6-month period

3.08%

13.08%

-10.00%

Volatility (1Y)

Calculated over the trailing 1-year period

4.28%

16.82%

-12.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.77%

23.57%

-16.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.61%

28.27%

-20.66%

SPMB vs. REM - Expense Ratio Comparison

SPMB has a 0.04% expense ratio, which is lower than REM's 0.48% expense ratio.

Dividends

SPMB vs. REM - Dividend Comparison

SPMB's dividend yield for the trailing twelve months is around 4.08%, less than REM's 9.07% yield.

PositionTTM20252024202320222021202020192018201720162015
REM
iShares Mortgage Real Estate ETF		9.07%8.70%9.61%9.46%11.13%7.29%7.72%8.16%10.00%9.97%10.03%11.99%
SPMB
SPDR Portfolio Mortgage Backed Bond ETF		4.08%3.98%3.76%3.21%2.98%2.59%2.95%3.24%3.36%3.13%2.99%3.05%

Frequently Asked Questions

SPMB and REM have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

REM has higher volatility (4.03%) compared to SPMB (1.58%). In terms of maximum drawdown, SPMB dropped -18.03% vs REM's -74.73%.

On 10-year performance, REM leads with 2.70% vs 1.26% for SPMB. On fees, SPMB is cheaper at 0.04% per year. On volatility, SPMB has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, REM has performed better with a 2.70% return vs 1.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPMB is cheaper with a 0.04% expense ratio, compared with 0.48% for REM.

REM has the higher dividend yield at 9.07%, compared with 4.08% for SPMB.

SPMB is categorized as Mortgage Backed Securities, while REM is REIT. SPMB tracks Bloomberg US Aggregate Securitized - MBS, while REM tracks FTSE NAREIT All Mortgage Capped Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.04% for SPMB and 0.48% for REM.

SPMB currently has the higher Sharpe Ratio (1.49 vs 0.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

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