SPMB vs. SPBO
Compare and contrast key facts about SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and SPDR Portfolio Corporate Bond ETF (SPBO).
SPMB and SPBO 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. SPBO is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays U.S. Corporate Bond Index. It was launched on Apr 6, 2011. Both SPMB and SPBO 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. SPBO - Performance Comparison
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SPMB vs. SPBO - 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% |
SPBO SPDR Portfolio Corporate Bond ETF | -0.23% | 7.83% | 2.59% | 8.80% | -15.68% | -1.57% | 10.17% | 14.70% | -1.79% | 5.47% |
Returns By Period
In the year-to-date period, SPMB achieves a 0.51% return, which is significantly higher than SPBO's -0.23% return. Over the past 10 years, SPMB has underperformed SPBO with an annualized return of 1.29%, while SPBO has yielded a comparatively higher 2.90% annualized 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%
SPBO
- 1D
- 0.57%
- 1M
- -1.82%
- YTD
- -0.23%
- 6M
- 0.46%
- 1Y
- 5.22%
- 3Y*
- 4.96%
- 5Y*
- 0.76%
- 10Y*
- 2.90%
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SPMB vs. SPBO - Expense Ratio Comparison
SPMB has a 0.04% expense ratio, which is higher than SPBO's 0.03% expense ratio. However, 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. SPBO — Risk / Return Rank
SPMB
SPBO
SPMB vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and SPDR Portfolio Corporate Bond ETF (SPBO). 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 | SPBO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.18 | 0.96 | +0.22 |
Sortino ratioReturn per unit of downside risk | 1.69 | 1.32 | +0.37 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.82 | +0.18 |
Martin ratioReturn relative to average drawdown | 5.76 | 5.60 | +0.15 |
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 | SPBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 0.96 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.11 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.39 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.47 | -0.13 |
Correlation
The correlation between SPMB and SPBO is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SPMB vs. SPBO - Dividend Comparison
SPMB's dividend yield for the trailing twelve months is around 4.02%, less than SPBO's 5.12% 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% |
SPBO SPDR Portfolio Corporate Bond ETF | 5.12% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
Drawdowns
SPMB vs. SPBO - Drawdown Comparison
The maximum SPMB drawdown since its inception was -18.03%, smaller than the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for SPMB and SPBO.
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Drawdown Indicators
| SPMB | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -22.23% | +4.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.96% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -22.23% | +4.74% |
Max Drawdown (10Y)Largest decline over 10 years | -18.03% | -22.23% | +4.20% |
Current DrawdownCurrent decline from peak | -1.58% | -1.82% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -2.87% | -4.07% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.96% | +0.06% |
Volatility
SPMB vs. SPBO - Volatility Comparison
The current volatility for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is 1.83%, while SPDR Portfolio Corporate Bond ETF (SPBO) has a volatility of 2.23%. This indicates that SPMB experiences smaller price fluctuations and is considered to be less risky than SPBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMB | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 2.23% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 3.07% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 5.44% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 7.19% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 7.49% | +0.10% |