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SPMB vs. SPYM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPMB vs. SPYM

Last updated Jun 5, 2026

SPMB (SPDR Portfolio Mortgage Backed Bond ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - SPMB is a Mortgage Backed Securities fund tracking the Bloomberg US Aggregate Securitized - MBS, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SPMB returned 1.26%/yr vs 15.57%/yr for SPYM. At a 0.01 correlation, their price movements are largely independent. SPMB charges 0.04%/yr vs 0.02%/yr for SPYM.

Performance

SPMB vs. SPYM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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 lower than SPYM's 11.36% return. Over the past 10 years, SPMB has underperformed SPYM with an annualized return of 1.26%, while SPYM has yielded a comparatively higher 15.57% 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%

SPYM

1D
0.34%
1M
4.60%
YTD
11.36%
6M
11.25%
1Y
28.60%
3Y*
22.67%
5Y*
13.99%
10Y*
15.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMB vs. SPYM - 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%
SPYM
State Street SPDR Portfolio S&P 500 ETF		11.36%17.79%25.00%26.24%-18.09%28.78%18.49%31.99%-4.78%21.30%

Correlation

The correlation between SPMB and SPYM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.31

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

0.24

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

0.19

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

0.08

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

0.01

Over the past year, SPMB and SPYM have become more correlated (0.31) than their long-term average of 0.01, meaning their price movements have been converging.

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SPDR Portfolio Mortgage Backed Bond ETF

State Street SPDR Portfolio S&P 500 ETF

Often compared with SPMB:
SPMB vs. VMBSSPMB vs. SPTISPMB vs. MBSDSPMB vs. GSSTSPMB vs. BNDSPMB vs. QQQSPMB vs. GNMA
Often compared with SPYM:
SPYM vs. SPYSPYM vs. VOOSPYM vs. QQQMSPYM vs. SPMOSPYM vs. VTISPYM vs. SPYGSPYM vs. SCHG

Return for Risk

SPMB vs. SPYM — 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
SPYM
SPYM Risk / Return Rank: 7474
Overall Rank
SPYM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SPYM Sortino Ratio Rank: 7575
Sortino Ratio Rank
SPYM Omega Ratio Rank: 7575
Omega Ratio Rank
SPYM Calmar Ratio Rank: 6666
Calmar Ratio Rank
SPYM Martin Ratio Rank: 7878
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. SPYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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.

SPMBSPYMDifference
Sharpe ratioReturn per unit of total volatility
1.49
2.44

-0.95

Sortino ratioReturn per unit of downside risk
2.22
3.32

-1.10

Omega ratioGain probability vs. loss probability

1.27

1.44

-0.17

Calmar ratioReturn relative to maximum drawdown

2.19

3.23

-1.04

Martin ratioReturn relative to average drawdown

7.16

15.02

-7.86

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. SPYM - Sharpe Ratio Comparison

The current SPMB Sharpe Ratio is 1.49, which is lower than the SPYM Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of SPMB and SPYM, 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

SPMBSPYMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.49

2.44

-0.95

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.05

0.84

-0.79

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.17

0.87

-0.70

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.62

-0.28

Drawdowns

SPMB vs. SPYM - Drawdown Comparison

The maximum SPMB drawdown since its inception was -18.03%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for SPMB and SPYM.

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Drawdown Indicators

SPMBSPYMDifference

Max Drawdown

Largest peak-to-trough decline

-18.03%

-54.46%

+36.43%

Max Drawdown (1Y)

Largest decline over 1 year

-2.89%

-8.90%

+6.01%

Max Drawdown (3Y)

Largest decline over 3 years

-7.66%

-18.72%

+11.06%

Max Drawdown (5Y)

Largest decline over 5 years

-17.49%

-24.48%

+6.99%

Max Drawdown (10Y)

Largest decline over 10 years

-18.03%

-33.87%

+15.84%

Current Drawdown

Current decline from peak

-1.45%

-0.32%

-1.13%

Average Drawdown

Average peak-to-trough decline

-2.85%

-7.15%

+4.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.88%

1.91%

-1.03%

Volatility

SPMB vs. SPYM - Volatility Comparison

The current volatility for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is 1.58%, while State Street SPDR Portfolio S&P 500 ETF (SPYM) has a volatility of 2.78%. This indicates that SPMB experiences smaller price fluctuations and is considered to be less risky than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPMBSPYMDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.58%

2.78%

-1.20%

Volatility (6M)

Calculated over the trailing 6-month period

3.08%

8.91%

-5.83%

Volatility (1Y)

Calculated over the trailing 1-year period

4.28%

11.79%

-7.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.77%

16.80%

-10.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.61%

18.00%

-10.39%

SPMB vs. SPYM - Expense Ratio Comparison

SPMB has a 0.04% expense ratio, which is higher than SPYM's 0.02% 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%.

Dividends

SPMB vs. SPYM - Dividend Comparison

SPMB's dividend yield for the trailing twelve months is around 4.08%, more than SPYM's 0.99% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SPYM
State Street SPDR Portfolio S&P 500 ETF		0.99%1.13%1.28%1.44%1.69%1.25%1.54%1.79%2.23%1.75%1.97%1.98%

Frequently Asked Questions

SPMB and SPYM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPYM has higher volatility (2.78%) compared to SPMB (1.58%). In terms of maximum drawdown, SPMB dropped -18.03% vs SPYM's -54.46%.

On 10-year performance, SPYM leads with 15.57% vs 1.26% for SPMB. On fees, SPYM is cheaper at 0.02% 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, SPYM has performed better with a 15.57% return vs 1.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPYM is cheaper with a 0.02% expense ratio, compared with 0.04% for SPMB.

SPMB has the higher dividend yield at 4.08%, compared with 0.99% for SPYM.

SPMB is categorized as Mortgage Backed Securities, while SPYM is S&P 500. SPMB tracks Bloomberg US Aggregate Securitized - MBS, while SPYM tracks S&P 500 Index. Their fees differ too: 0.04% for SPMB and 0.02% for SPYM.

SPYM currently has the higher Sharpe Ratio (2.44 vs 1.49), 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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