XSVN vs. SMBS
XSVN (BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF) and SMBS (Schwab Mortgage-Backed Securities ETF) are both exchange-traded funds - XSVN is a Government Bonds fund tracking the Bloomberg US Treasury 7 Year Target Duration Index, while SMBS is a Mortgage Backed Securities fund tracking the Bloomberg US MBS Float Adjusted Total Return Index. Both are passively managed. Over the past year, XSVN returned 4.22% vs 6.78% for SMBS. Their correlation of 0.91 suggests significant overlap in exposure. XSVN charges 0.05%/yr vs 0.03%/yr for SMBS.
Performance
XSVN vs. SMBS - Performance Comparison
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Returns By Period
In the year-to-date period, XSVN achieves a -0.57% return, which is significantly lower than SMBS's 0.70% return.
XSVN
- 1D
- -0.24%
- 1M
- -0.07%
- YTD
- -0.57%
- 6M
- -1.04%
- 1Y
- 4.22%
- 3Y*
- 2.75%
- 5Y*
- —
- 10Y*
- —
SMBS
- 1D
- -0.24%
- 1M
- 0.33%
- YTD
- 0.70%
- 6M
- 0.82%
- 1Y
- 6.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XSVN vs. SMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XSVN BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF | -0.57% | 8.18% | -0.70% |
SMBS Schwab Mortgage-Backed Securities ETF | 0.70% | 8.15% | -0.07% |
Correlation
The correlation between XSVN and SMBS is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2024 | 0.91 |
The correlation between XSVN and SMBS has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.
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Return for Risk
XSVN vs. SMBS — Risk / Return Rank
XSVN
SMBS
XSVN vs. SMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF (XSVN) and Schwab Mortgage-Backed Securities ETF (SMBS). 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.
| XSVN | SMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.30 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 2.41 | -1.35 |
| Martin ratioReturn relative to average drawdown | 3.18 | 8.21 | -5.03 |
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
| XSVN | SMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.64 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 1.18 | -0.83 |
Drawdowns
XSVN vs. SMBS - Drawdown Comparison
The maximum XSVN drawdown since its inception was -9.45%, which is greater than SMBS's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for XSVN and SMBS.
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Drawdown Indicators
| XSVN | SMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.45% | -3.20% | -6.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.01% | -2.83% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -7.09% | — | — |
Current DrawdownCurrent decline from peak | -2.75% | -1.33% | -1.42% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -0.84% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 0.83% | +0.50% |
Volatility
XSVN vs. SMBS - Volatility Comparison
BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF (XSVN) and Schwab Mortgage-Backed Securities ETF (SMBS) have volatilities of 1.54% and 1.55%, 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
| XSVN | SMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.55% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 3.03% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.65% | 4.15% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.19% | 4.86% | +2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.19% | 4.86% | +2.33% |
XSVN vs. SMBS - Expense Ratio Comparison
XSVN has a 0.05% expense ratio, which is higher than SMBS'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%.
Dividends
XSVN vs. SMBS - Dividend Comparison
XSVN's dividend yield for the trailing twelve months is around 4.10%, less than SMBS's 5.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
SMBS Schwab Mortgage-Backed Securities ETF | 5.17% | 4.83% | 0.50% | 0.00% | 0.00% |
XSVN BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF | 4.10% | 4.06% | 4.17% | 3.49% | 1.04% |
Frequently Asked Questions
With a correlation of 0.91, XSVN and SMBS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SMBS has higher volatility (1.55%) compared to XSVN (1.54%). In terms of maximum drawdown, XSVN dropped -9.45% vs SMBS's -3.20%.
On 1-year performance, SMBS leads with 6.78% vs 4.22% for XSVN. On fees, SMBS is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SMBS has performed better with a 6.78% return vs 4.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMBS is cheaper with a 0.03% expense ratio, compared with 0.05% for XSVN.
SMBS has the higher dividend yield at 5.17%, compared with 4.10% for XSVN.
XSVN is categorized as Government Bonds, while SMBS is Mortgage Backed Securities. XSVN tracks Bloomberg US Treasury 7 Year Target Duration Index, while SMBS tracks Bloomberg US MBS Float Adjusted Total Return Index. They also come from different issuers: BondBloxx and Charles Schwab. Their fees differ too: 0.05% for XSVN and 0.03% for SMBS.
SMBS currently has the higher Sharpe Ratio (1.64 vs 0.91), 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.
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