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MTBA vs VMBS

Simplify MBS ETF

MTBABNYSE Arca

Vanguard Mortgage-Backed Securities ETF

VMBSANasdaq

Overlap

No data

Expense ratio

VMBS −0.25pt a year

MTBA0.28%VMBS0.03%

Avg volume · 30D

VMBS 6.6×the volume

MTBA280KVMBS1.85M

MTBA vs VMBS Performance

Oct 31, 2025 – Oct 30, 2026

+0.3%MTBA+0.9%VMBS

Oct 31, 2025 to Oct 30, 2026. MTBA +0.3%. VMBS +0.9%. Use the arrow keys to read each point.−2%−1%2%3%Oct 2025Apr 2026Oct 2026
Expense ratio
MTBA 0.28%
VMBS 0.03%, better
Fund size
MTBA $903M
VMBS $17.1B
1Y total return
MTBA +0.3%
VMBS +0.9%, better
Yield (12M)
MTBA 6.09%, better
VMBS 4.31%
Holdings
MTBA 12
VMBS 4924
Avg volume (30D)
MTBA 280K sh
VMBS 1.85M sh, better
NAV per share
MTBA $47.54
VMBS $45.51
52W range

ETF.net Grade

MTBA: Cost 63, Risk 50, Mission 59, Tradability 82, Holdings 25, Durability 50. VMBS: Cost 94, Risk 36, Mission 64, Tradability 63, Holdings 86, Durability 92.
Pillar letters and Scores for MTBA, VMBS, with each pillar’s weight
PillarMTBAVMBS
Cost30% weightB63A94Higher
Mission25% weightB59B64Higher
Risk15% weightC50HigherD36
Tradability15% weightA82HigherB63
Holdings10% weightD25A86Higher
Durability5% weightC50A92Higher

Rank among Mortgage-Backed Securities funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. MTBA and VMBS are both graded against the same 24 Mortgage-Backed Securities funds, so their Grades compare head to head.

Mortgage-Backed Securities⁠

Category · 24 funds
See all 24 ›

VMBS ranks 3rd and MTBA 8th of 24 funds in the Mortgage-Backed Securities Category.

  1. Rank 1ASPMBState Street SPDR Portfolio Mortgage Backed Bond ETFScore 75
  2. Rank 2AMBBiShares MBS ETFScore 73
  3. Rank 3AVMBSVanguard Mortgage-Backed Securities ETFScore 72
  4. Rank 4ASMBSSchwab Mortgage-Backed Securities ETFScore 70
  5. Rank 7BGNMAiShares GNMA Bond ETFScore 60
  6. Rank 8BMTBASimplify MBS ETFScore 58
  7. Rank 9CMBBAiShares Mortgage-Backed Securities Active ETFScore 55

Our read on each fund

ETF.net Research

MTBABSimplify MBS ETF

VMBSAVanguard Mortgage-Backed Securities ETF

In short

MTBA Most funds in the aggregate-bond aisle buy a little of everything. Simplify's mortgage ETF goes one lane deep: agency mortgage bonds, actively run, launched in 2023, paying monthly.

VMBS The plumbing of the U.S. housing market in one ticker: pooled home loans from Ginnie, Fannie and Freddie, tracked by index for 0.03% a year, with income paid monthly.

Stated mandate

MTBA The fund seeks total return while preserving capital through prudent investment management.

VMBS The fund seeks moderate and sustainable current income by investing primarily in U.S. agency mortgage-backed pass-through securities issued by GNMA, FNMA, and FHLMC.

Why people hold it

  • MTBA Costs 0.25% a year, below the 0.36% median for its bond-fund category. Cheap for an actively managed sleeve.
  • One clear job: total return while preserving capital, per Simplify's own mandate. A specialist tool, not a repackaged broad-market index.simplify.us
  • Pays monthly, has pulled in real assets since its 2023 launch, and trades with moderate volume for a niche bond fund.
  • Lands in the upper half of a crowded aggregate-bond field, and its holdings line up closely with the mandate it advertises.
  • VMBS 0.03% a year is the cheap end of the mortgage-bond aisle: SPMB and MBB charge 0.04%, JMTG 0.24%, and the typical peer runs far higher.
  • Agency pass-throughs from GNMA, FNMA and FHLMC. Credit isn't the main variable here; rates and mortgage behavior are.vanguard.com
  • Trading since 2009, a multi-billion-dollar fund holding roughly 300 pools and paying monthly. Boring in the way bond ballast is supposed to be.
  • Sits in the top quartile of its mortgage-bond peer group, one of the stronger builds in a crowded, look-alike category.

Worth knowing

  • MTBA The index heavyweights undercut it hard: BND, SPAB and SCHZ all run at 0.03%. You are paying up for active mortgage selection.
  • This is one slice of the bond market, not a diversified core. No corporates, no Treasuries ballast beyond what the mortgage sleeve holds.
  • Launched in November 2023, so its track record is short by bond-fund standards and spans only one rate environment.
  • VMBS Mortgages don't keep a schedule. Homeowners refinance when rates fall, returning cash to reinvest at lower yields; when rates rise, payoffs slow and bonds stretch out.vanguard.com
  • The mandate is current income from one slice of the bond market. No Treasuries, no corporates, no equity kicker.
  • Share prices move with interest rates, so this behaves like a bond fund, not a cash parking spot.vanguard.com

Full MTBA profile⁠

Full VMBS profile⁠

MTBA vs VMBS Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MTBA vs VMBS Cost

Overpaying MTBA vs VMBS

$5,117

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

  • MTBA 0.28%

    $5,755

  • VMBS 0.03%

    $638

$10,000
30 years

Cost over time

  • MTBA 0.28%
  • 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$6K051015202530MTBA $5,755VMBS $638

Year by year

YearMTBAVMBSOverpaying
10$509$55$454
20$1,976$216$1,760
30$5,755$638$5,117

Expense ratio

  • 0.28%MTBA
  • 0.03%VMBS, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

VMBS cheapest of 24 funds

MTBA 10th cheapest of 24 funds

MTBA vs VMBS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MTBA 6.09%, better
VMBS 4.31%
Payout (12M)
MTBA $2.90
VMBS $1.97
Last payment
MTBA $0.23
VMBS $0.16
Ex-dividend
MTBA Oct 27, 2026
VMBS Oct 1, 2026
Paid on
MTBA Oct 30, 2026
VMBS Oct 5, 2026
Frequency
MTBA Monthly
VMBS Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

MTBAMonthly · 35 paymentsAll MTBA payments⁠
One bar per payment. 35 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.25; Jan 26, 2024 $0.25; Feb 26, 2024 $0.25; Mar 25, 2024 $0.25; Apr 25, 2024 $0.25; May 24, 2024 $0.25; Jun 25, 2024 $0.25; Jul 26, 2024 $0.25; Aug 27, 2024 $0.25; Sep 25, 2024 $0.25; Oct 28, 2024 $0.25; Nov 25, 2024 $0.25; Dec 23, 2024 $0.25; Jan 28, 2025 $0.25; Feb 25, 2025 $0.25; Mar 26, 2025 $0.25; Apr 25, 2025 $0.25; May 27, 2025 $0.25; Jun 25, 2025 $0.25; Jul 28, 2025 $0.25; Aug 26, 2025 $0.25; Sep 25, 2025 $0.25; Oct 28, 2025 $0.25; Nov 21, 2025 $0.25; Dec 23, 2025 $0.28; Jan 27, 2026 $0.25; Feb 24, 2026 $0.25; Mar 26, 2026 $0.24; Apr 27, 2026 $0.24; May 26, 2026 $0.24; Jun 25, 2026 $0.23; Jul 28, 2026 $0.23; Aug 26, 2026 $0.23; Sep 25, 2026 $0.23; Oct 27, 2026 $0.23. Use the arrow keys to read each point.$0$0.2520232026YTD
VMBSMonthly · 45 paymentsAll VMBS payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.11; Mar 1, 2023 $0.12; Apr 3, 2023 $0.12; May 1, 2023 $0.12; Jun 1, 2023 $0.13; Jul 3, 2023 $0.13; Aug 1, 2023 $0.13; Sep 1, 2023 $0.13; Oct 2, 2023 $0.14; Nov 1, 2023 $0.13; Dec 1, 2023 $0.14; Dec 22, 2023 $0.14; Feb 1, 2024 $0.14; Mar 1, 2024 $0.15; Apr 1, 2024 $0.15; May 1, 2024 $0.15; Jun 3, 2024 $0.15; Jul 1, 2024 $0.15; Aug 1, 2024 $0.15; Sep 3, 2024 $0.15; Oct 1, 2024 $0.15; Nov 1, 2024 $0.15; Dec 2, 2024 $0.15; Dec 24, 2024 $0.15; Feb 3, 2025 $0.16; Mar 3, 2025 $0.16; Apr 1, 2025 $0.16; May 1, 2025 $0.20; Jun 2, 2025 $0.16; Jul 1, 2025 $0.16; Aug 1, 2025 $0.16; Sep 2, 2025 $0.17; Oct 1, 2025 $0.15; Nov 3, 2025 $0.17; Dec 1, 2025 $0.16; Dec 18, 2025 $0.16; Feb 2, 2026 $0.16; Mar 2, 2026 $0.16; Apr 1, 2026 $0.16; May 1, 2026 $0.16; Jun 1, 2026 $0.16; Jul 1, 2026 $0.16; Aug 3, 2026 $0.17; Sep 1, 2026 $0.17; Oct 1, 2026 $0.16. Use the arrow keys to read each point.$0$0.2520232026YTD

MTBA vs VMBS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MTBA 4.3%since Dec 2023VMBS 6.3%
Return per unit of riskSharpe ratio, 3 years
MTBA −0.16since Dec 2023VMBS 0.33
Worst fallMax drawdown, 5 years
MTBA −4.6%since Nov 2023VMBS −16.9%
Market sensitivityBeta, 5 years
MTBA 0.12VMBS 1.12

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