SPMB vs. VMBS
Compare and contrast key facts about SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and Vanguard Mortgage-Backed Securities ETF (VMBS).
SPMB and VMBS 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. VMBS is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. MBS Index. It was launched on Nov 19, 2009. Both SPMB and VMBS 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. VMBS - Performance Comparison
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SPMB vs. VMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 0.56% | 8.29% | 1.35% | 5.09% | -12.05% | -1.46% | 4.19% | 6.16% | 1.01% | 2.13% |
VMBS Vanguard Mortgage-Backed Securities ETF | 0.50% | 8.36% | 1.70% | 5.34% | -11.90% | -1.28% | 3.76% | 6.19% | 0.91% | 2.47% |
Returns By Period
In the year-to-date period, SPMB achieves a 0.56% return, which is significantly higher than VMBS's 0.50% return. Over the past 10 years, SPMB has underperformed VMBS with an annualized return of 1.29%, while VMBS has yielded a comparatively higher 1.41% annualized return.
SPMB
- 1D
- 0.05%
- 1M
- -1.19%
- YTD
- 0.56%
- 6M
- 1.75%
- 1Y
- 5.26%
- 3Y*
- 4.12%
- 5Y*
- 0.37%
- 10Y*
- 1.29%
VMBS
- 1D
- 0.09%
- 1M
- -0.94%
- YTD
- 0.50%
- 6M
- 1.82%
- 1Y
- 5.44%
- 3Y*
- 4.32%
- 5Y*
- 0.51%
- 10Y*
- 1.41%
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SPMB vs. VMBS - Expense Ratio Comparison
Both SPMB and VMBS have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Return for Risk
SPMB vs. VMBS — Risk / Return Rank
SPMB
VMBS
SPMB vs. VMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and Vanguard Mortgage-Backed Securities ETF (VMBS). 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 | VMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.09 | 1.10 | -0.01 |
Sortino ratioReturn per unit of downside risk | 1.56 | 1.57 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.97 | 1.96 | +0.01 |
Martin ratioReturn relative to average drawdown | 5.64 | 6.10 | -0.46 |
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 | VMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.10 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.08 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.26 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.46 | -0.12 |
Correlation
The correlation between SPMB and VMBS is 0.70, 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. VMBS - Dividend Comparison
SPMB's dividend yield for the trailing twelve months is around 4.04%, less than VMBS's 4.24% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMB SPDR Portfolio Mortgage Backed Bond ETF | 4.04% | 3.98% | 3.76% | 3.21% | 2.98% | 2.59% | 2.95% | 3.24% | 3.36% | 3.13% | 2.99% | 3.05% |
VMBS Vanguard Mortgage-Backed Securities ETF | 4.24% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
Drawdowns
SPMB vs. VMBS - Drawdown Comparison
The maximum SPMB drawdown since its inception was -18.03%, roughly equal to the maximum VMBS drawdown of -17.47%. Use the drawdown chart below to compare losses from any high point for SPMB and VMBS.
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Drawdown Indicators
| SPMB | VMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.03% | -17.47% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -3.00% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -17.12% | -0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -18.03% | -17.47% | -0.56% |
Current DrawdownCurrent decline from peak | -1.54% | -1.48% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -2.51% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.96% | +0.06% |
Volatility
SPMB vs. VMBS - Volatility Comparison
SPDR Portfolio Mortgage Backed Bond ETF (SPMB) and Vanguard Mortgage-Backed Securities ETF (VMBS) have volatilities of 1.83% and 1.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMB | VMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.90% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.89% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 5.00% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.73% | 6.71% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 5.37% | +2.22% |