XTRE vs. SMBS
Compare and contrast key facts about Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) and Schwab Mortgage-Backed Securities ETF (SMBS).
XTRE and SMBS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XTRE is a passively managed fund by BondBloxx that tracks the performance of the Bloomberg US Treasury 3 Year Target Duration Index. It was launched on Sep 13, 2022. SMBS is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US MBS Float Adjusted Total Return Index. It was launched on Nov 18, 2024. Both XTRE and SMBS 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
XTRE vs. SMBS - Performance Comparison
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XTRE vs. SMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XTRE Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF | 0.11% | 6.05% | 0.37% |
SMBS Schwab Mortgage-Backed Securities ETF | 0.36% | 8.15% | -0.07% |
Returns By Period
In the year-to-date period, XTRE achieves a 0.11% return, which is significantly lower than SMBS's 0.36% return.
XTRE
- 1D
- 0.10%
- 1M
- -0.97%
- YTD
- 0.11%
- 6M
- 1.24%
- 1Y
- 3.90%
- 3Y*
- 3.83%
- 5Y*
- —
- 10Y*
- —
SMBS
- 1D
- 0.20%
- 1M
- -1.67%
- YTD
- 0.36%
- 6M
- 1.92%
- 1Y
- 5.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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XTRE vs. SMBS - Expense Ratio Comparison
XTRE 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%.
Return for Risk
XTRE vs. SMBS — Risk / Return Rank
XTRE
SMBS
XTRE vs. SMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) 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.
| XTRE | SMBS | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.63 | 1.12 | +0.50 |
Sortino ratioReturn per unit of downside risk | 2.50 | 1.61 | +0.89 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 2.61 | 1.94 | +0.67 |
Martin ratioReturn relative to average drawdown | 8.99 | 5.61 | +3.38 |
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
| XTRE | SMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 1.12 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 1.27 | -0.12 |
Correlation
The correlation between XTRE and SMBS is 0.80, 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
XTRE vs. SMBS - Dividend Comparison
XTRE's dividend yield for the trailing twelve months is around 3.89%, less than SMBS's 4.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTRE Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF | 3.89% | 3.85% | 4.19% | 3.97% | 1.16% |
SMBS Schwab Mortgage-Backed Securities ETF | 4.80% | 4.83% | 0.50% | 0.00% | 0.00% |
Drawdowns
XTRE vs. SMBS - Drawdown Comparison
The maximum XTRE drawdown since its inception was -2.89%, smaller than the maximum SMBS drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for XTRE and SMBS.
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Drawdown Indicators
| XTRE | SMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.89% | -3.20% | +0.31% |
Max Drawdown (1Y)Largest decline over 1 year | -1.53% | -2.83% | +1.30% |
Current DrawdownCurrent decline from peak | -0.97% | -1.67% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -0.82% | -0.77% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.98% | -0.54% |
Volatility
XTRE vs. SMBS - Volatility Comparison
The current volatility for Bondbloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) is 0.84%, while Schwab Mortgage-Backed Securities ETF (SMBS) has a volatility of 1.82%. This indicates that XTRE experiences smaller price fluctuations and is considered to be less risky than SMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTRE | SMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.82% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 1.44% | 2.75% | -1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.41% | 4.77% | -2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.37% | 4.92% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.37% | 4.92% | -1.55% |