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Launched · SEC filings

iShares CMBS ETF

CMBSNYSE ArcaiSharesC

$47.77+0.28 (+0.58%)

As of Nov 2, 2026, 3:59 PM ET

C51/ 100

Rank 10 of 25 in Mortgage-Backed Securities

C51/100Rank 10 of 25inMortgage-Backed Securities
Intraday session: up, 78 prints from 47.49 to 47.77. Range 47.61 to 47.79. Use the arrow keys to read each point.47.5547.6047.6547.7010 AM12 PM2 PM4 PM
Expense ratio
0.25%
Fund size
$444M
1Y total return
+0.7%
Yield · Last 12 months
3.71%
Holdings
442
Avg volume · 30D
47.7K sh
52W range
low $47.09high $49.89
Launched
Filings
SEC EDGAR

The ETF.net CMBS Grade

C

Score 51 out of 100

Category
Mortgage-Backed Securities⁠
Rank
10 of 25
Six-pillar profile for CMBS. Scores out of 100: Cost 69, Risk 56, Mission 20, Tradability 39, Holdings 82, Durability 68. Strongest: Holdings (82). Weakest: Mission (20). Leans toward Holdings.

Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B69 out of 100
    Rank 8 of 25

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    F20 out of 100
    Rank 19 of 21

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B56 out of 100
    Rank 8 of 25

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D39 out of 100
    Rank 17 of 25

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A82 out of 100
    Rank 4 of 25

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B68 out of 100
    Rank 7 of 25

Our read on CMBS

ETF.net Research

In short

CThe index route into commercial mortgage bonds: debt on offices, hotels, malls and apartment blocks rather than home loans. Running since 2012, screened to investment-grade, top-of-the-waterfall slices.

Stated mandate

The fund seeks to track an index composed of U.S. investment-grade commercial mortgage-backed securities.

Why people hold it

  • The index takes only ERISA-eligible tranches with first priority of principal repayment, rated in one of the three highest categories, plus minimum deal and tranche sizes.sec.gov
  • 0.25% a year sits under the 0.30% median fee for mortgage-bond ETFs, notable for a corner of the market this specialized.
  • Roughly 500 bond positions, monthly distributions, and a track record going back to its 2012 launch.
  • Single mandate, clearly stated: track an index of U.S. investment-grade commercial mortgage-backed securities. No credit tourism, no off-benchmark detours.ishares.com

Worth knowing

  • Thinly traded next to the agency-MBS giants in its category, so the spread you pay and the order type you use matter more here.
  • Cheap for a niche, still not cheap outright: agency-mortgage peers VMBS and SMBS run 0.03%, so broad mortgage exposure costs a fraction of this.
  • BlackRock flags prepayment and extension risk on these bonds, and notes small interest-rate moves can sharply cut the value of certain mortgage securities.ishares.com

CMBS Holdings

Holdings pillarA82 out of 100Rank 4 of 25 in Mortgage-Backed Securities
Asset class
Bonds
Holdings
442
Top-10 weight
9%
Largest holding
FHMS_K163 A2 5.00% 03/25/20341.2%

Sectors

  • CMBS100.0%

Geography

  • United States99.90%
  • Canada0.10%
The fund’s holdings, weight-ordered — page 1 of 30.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataFHMS_K163 A2 5.00% 03/25/20341.19%0$5.28M1
2No dataFHMS_K108 A2 1.52% 03/25/20301.16%0$5.17M8
3No dataFHMS_K098 A2 2.42% 08/25/20290.95%0$4.22M4
4No dataFNMA_22-M10 A2 1.93% 01/25/20320.91%0$4.05M2
5No dataFHMS_K173 A2 4.60% 09/25/20350.86%0$3.83M7
6No dataBBCMS_24-5C29 A2 4.74% 09/15/20570.77%0$3.4M3
7No dataFHMS_K157 A2 4.20% 05/25/20330.75%0$3.33M3
8No dataFHMS_K-176 A2 4.38% 01/25/20640.74%0$3.29M7
9No dataFHMS_K094 A2 2.90% 06/25/20290.73%0$3.26M4
10No dataCSAIL_19-C15 A4 4.05% 03/15/20520.71%0$3.17M10
11No dataBBCMS_25-C32 A5 5.72% 02/15/20620.71%0$3.14M10
12No dataBlk Csh Fnd Treasury Sl Agency0.69%0$3.06M437
13No dataBMARK_25-V14 A3 5.18% 04/15/20570.67%0$2.98M11
14No dataBMO_24-5C8 A2 5.15% 12/15/20570.67%0$2.98M2
15No dataBBCMS_18-C2 A5 4.31% 12/15/20510.65%0$2.88M11

Showing 1–15 of 442 holdings

CMBS Performance

Launched Feb 14, 2012

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CMBS$10,070
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. CMBS $10,070. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CMBS. Periods over one year show the average yearly return.
PeriodCMBS
Year to date−0.2%
1 month+1.1%
3 months−0.5%
1 year+0.7%
3 yearsper year+5.9%
5 yearsper year+0.8%
10 yearsper year+2.0%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CMBS
YearReturn barCMBS
2026 YTD−0.2%
2025+7.7%
2024+4.3%
2023+5.1%
2022−11.2%
2021−1.8%
2020+7.9%

CMBS in the news

CMBS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
3.71%Last 12 months
Payout per share
$1.77Last 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.10; Mar 1, 2023 $0.11; Apr 3, 2023 $0.11; May 1, 2023 $0.12; Jun 1, 2023 $0.12; Jul 3, 2023 $0.12; Aug 1, 2023 $0.11; Sep 1, 2023 $0.11; Oct 2, 2023 $0.12; Nov 1, 2023 $0.13; Dec 1, 2023 $0.12; Dec 14, 2023 $0.12; Feb 1, 2024 $0.12; Mar 1, 2024 $0.13; Apr 1, 2024 $0.13; May 1, 2024 $0.13; Jun 3, 2024 $0.12; Jul 1, 2024 $0.13; Aug 1, 2024 $0.13; Sep 3, 2024 $0.13; Oct 1, 2024 $0.14; Nov 1, 2024 $0.14; Dec 2, 2024 $0.14; Dec 18, 2024 $0.14; Feb 3, 2025 $0.13; Mar 3, 2025 $0.14; Apr 1, 2025 $0.14; May 1, 2025 $0.14; Jun 2, 2025 $0.14; Jul 1, 2025 $0.14; Aug 1, 2025 $0.14; Sep 2, 2025 $0.14; Oct 1, 2025 $0.14; Nov 3, 2025 $0.15; Dec 1, 2025 $0.15; Dec 19, 2025 $0.15; Feb 2, 2026 $0.14; Mar 2, 2026 $0.15; Apr 1, 2026 $0.15; May 1, 2026 $0.15; Jun 1, 2026 $0.15; Jul 1, 2026 $0.15; Aug 3, 2026 $0.15; Sep 1, 2026 $0.15; Oct 1, 2026 $0.15. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Nov 2, 2026Pays Nov 5, 2026$0.15
Oct 1, 2026Oct 6, 2026$0.15
Sep 1, 2026Sep 4, 2026$0.15
Aug 3, 2026Aug 6, 2026$0.15
Jul 1, 2026Jul 7, 2026$0.15
Jun 1, 2026Jun 4, 2026$0.15
May 1, 2026May 6, 2026$0.15
Apr 1, 2026Apr 7, 2026$0.15
Mar 2, 2026Mar 5, 2026$0.15
Feb 2, 2026Feb 5, 2026$0.14
Dec 19, 2025Dec 24, 2025$0.15
Dec 1, 2025Dec 4, 2025$0.15

See all 176 payments⁠

$10,000 in CMBS 10 years ago paid $2,747 in dividends.⁠

CMBS Risk

Risk pillarB56 out of 100Rank 8 of 25 in Mortgage-Backed Securities
How much the fund’s monthly returns vary, scaled to a year.
4.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.33
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−14.7%
Trough Nov 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.74
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

CMBS Cost

Compare CMBS and VMBS

Overpaying vs VMBS, tied cheapest in Mortgage-Backed Securities

$4,521

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CMBS 0.25%

    $5,159

  • VMBS 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • CMBS 0.25%
  • VMBS 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530CMBS $5,159VMBS $638

Year by year

YearCMBSVMBSOverpaying
10$455$55$400
20$1,769$216$1,553
30$5,159$638$4,521

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