VMBS vs. PMBS
Compare and contrast key facts about Vanguard Mortgage-Backed Securities ETF (VMBS) and PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS).
VMBS and PMBS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. PMBS is an actively managed fund by PIMCO. It was launched on Jul 31, 1997.
Performance
VMBS vs. PMBS - Performance Comparison
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VMBS vs. PMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
VMBS Vanguard Mortgage-Backed Securities ETF | 0.41% | 8.36% | -2.85% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 0.61% | 8.92% | -2.75% |
Returns By Period
In the year-to-date period, VMBS achieves a 0.41% return, which is significantly lower than PMBS's 0.61% return.
VMBS
- 1D
- 0.21%
- 1M
- -1.57%
- YTD
- 0.41%
- 6M
- 2.06%
- 1Y
- 5.79%
- 3Y*
- 4.29%
- 5Y*
- 0.49%
- 10Y*
- 1.41%
PMBS
- 1D
- 0.33%
- 1M
- -1.84%
- YTD
- 0.61%
- 6M
- 2.40%
- 1Y
- 6.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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VMBS vs. PMBS - Expense Ratio Comparison
VMBS has a 0.04% expense ratio, which is lower than PMBS's 0.71% expense ratio.
Return for Risk
VMBS vs. PMBS — Risk / Return Rank
VMBS
PMBS
VMBS vs. PMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mortgage-Backed Securities ETF (VMBS) 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.
| VMBS | PMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.16 | 1.31 | -0.14 |
Sortino ratioReturn per unit of downside risk | 1.67 | 1.86 | -0.19 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.09 | -0.14 |
Martin ratioReturn relative to average drawdown | 6.10 | 6.06 | +0.04 |
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
| VMBS | PMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.31 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.87 | -0.41 |
Correlation
The correlation between VMBS 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
VMBS vs. PMBS - Dividend Comparison
VMBS's dividend yield for the trailing twelve months is around 4.23%, less than PMBS's 4.94% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMBS Vanguard Mortgage-Backed Securities ETF | 4.23% | 4.20% | 3.94% | 3.31% | 2.35% | 1.02% | 2.01% | 2.77% | 2.72% | 2.16% | 2.10% | 2.12% |
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund | 4.94% | 4.73% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VMBS vs. PMBS - Drawdown Comparison
The maximum VMBS drawdown since its inception was -17.47%, which is greater than PMBS's maximum drawdown of -4.35%. Use the drawdown chart below to compare losses from any high point for VMBS and PMBS.
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Drawdown Indicators
| VMBS | PMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.47% | -4.35% | -13.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -3.04% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.47% | — | — |
Current DrawdownCurrent decline from peak | -1.57% | -1.84% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.51% | -1.11% | -1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.05% | -0.09% |
Volatility
VMBS vs. PMBS - Volatility Comparison
Vanguard Mortgage-Backed Securities ETF (VMBS) and PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) have volatilities of 1.90% and 1.94%, 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
| VMBS | PMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 1.94% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.89% | 2.87% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 4.77% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.71% | 4.94% | +1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 4.94% | +0.43% |