iShares CMBS ETF
$47.49−0.10 (−0.21%)
- Expense ratio
- 0.25%
- Fund size
- $462M
- 1Y return
- +0.6%
- Yield · Last 12 months
- 3.69%
- Holdings
- 456
- Volume · 30D
- 0M sh
- NAV per share
- $47.67
- 52W range
The ETF.net CMBS Grade
Score 52 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 63Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.FScore 22Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 59Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 50Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 81Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 70Category rank
Our read on CMBS
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.
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
- Bonds
- 456
- 9%
- FHMS_K117 A2 1.41% 08/25/2030
Geography
- United States100.00%
CMBS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | CMBS |
|---|---|
| Year to date | −0.7% |
| 1 month | −1.2% |
| 3 months | −0.9% |
| 1 year | +0.6% |
| 3 years | +5.4% |
| 5 years | +0.5% |
| 10 years | +1.8% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | CMBS |
|---|---|---|
| 2026 YTD | −0.7% | |
| 2025 | +7.7% | |
| 2024 | +4.3% | |
| 2023 | +5.1% | |
| 2022 | −11.2% | |
| 2021 | −1.8% | |
| 2020 | +7.9% |
CMBS in the news
ETF.net Research hasn’t filed on CMBS yet — coverage lands here as it’s written.
CMBS Dividends
- 3.69%
- $1.75
- $0.15 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.15 |
| Aug 3, 2026 | Aug 6, 2026 | $0.15 |
| Jul 1, 2026 | Jul 7, 2026 | $0.15 |
| Jun 1, 2026 | Jun 4, 2026 | $0.15 |
| May 1, 2026 | May 6, 2026 | $0.15 |
| Apr 1, 2026 | Apr 7, 2026 | $0.15 |
| Mar 2, 2026 | Mar 5, 2026 | $0.15 |
| Feb 2, 2026 | Feb 5, 2026 | $0.14 |
| Dec 19, 2025 | Dec 24, 2025 | $0.15 |
| Dec 1, 2025 | Dec 4, 2025 | $0.15 |
| Nov 3, 2025 | Nov 6, 2025 | $0.15 |
| Oct 1, 2025 | Oct 6, 2025 | $0.14 |
CMBS Risk
- 4.4%
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.
- 0.19
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.
- −15.4%
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.
- 0.74
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CMBS Cost
- The middle half of Mortgage-Backed Securities funds
- Median 0.32%
8 of the 24 Mortgage-Backed Securities funds charge less.