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PMBS vs SPMB

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

PMBSDNasdaq

State Street SPDR Portfolio Mortgage Backed Bond ETF

SPMBANYSE Arca

Overlap

No data

Expense ratio

SPMB −0.79pt a year

PMBS0.83%SPMB0.04%

Avg volume · 30D

SPMB 10.2×the volume

PMBS159KSPMB1.62M

PMBS vs SPMB Performance

Oct 31, 2025 – Oct 30, 2026

−0.1%PMBS+0.3%SPMB

Oct 31, 2025 to Oct 30, 2026. PMBS −0.1%. SPMB +0.3%. Use the arrow keys to read each point.−3%−2%2%3%Oct 2025Apr 2026Oct 2026
Expense ratio
PMBS 0.83%
SPMB 0.04%, better
Fund size
PMBS $1.35B
SPMB $7B
1Y total return
PMBS −0.1%
SPMB +0.3%, better
Yield (12M)
PMBS 4.89%, better
SPMB 4.23%
Holdings
PMBS 1233
SPMB 2779
Avg volume (30D)
PMBS 159K sh
SPMB 1.62M sh, better
NAV per share
PMBS $47.32
SPMB $21.63
52W range

ETF.net Grade

PMBS: Cost 4, Risk 28, Mission 57, Tradability 56, Holdings 18, Durability 50. SPMB: Cost 94, Risk 34, Mission 64, Tradability 95, Holdings 75, Durability 83.
Pillar letters and Scores for PMBS, SPMB, with each pillar’s weight
PillarPMBSSPMB
Cost30% weightF4A94Higher
Mission25% weightB57B64Higher
Risk15% weightD28D34Higher
Tradability15% weightB56A95Higher
Holdings10% weightF18A75Higher
Durability5% weightC50A83Higher

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. PMBS and SPMB 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 ›

SPMB ranks 1st and PMBS 20th 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 19DSCIOFirst Trust Structured Credit Income Opportunities ETFScore 34
  4. Rank 20DPMBSPIMCO Mortgage-Backed Securities Active Exchange-Traded FundScore 32
  5. Rank 21DGISCGuggenheim Securitized Income ETFScore 31

Our read on each fund

ETF.net Research

PMBSDPIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

SPMBAState Street SPDR Portfolio Mortgage Backed Bond ETF

In short

PMBS No data

SPMB The no-frills way to own America's mortgage bonds. SPMB tracks the Bloomberg U.S. MBS Index for four basis points, a fraction of what the typical mortgage-bond ETF charges, and pays income monthly.

Stated mandate

PMBS No data

SPMB The fund seeks to track, before fees and expenses, the price and yield performance of the Bloomberg U.S. MBS Index.

Why people hold it

PMBS No data

  • SPMB Four basis points a year, against a 0.35% median for mortgage-bond ETFs. Cost is where this fund does its loudest talking.
  • Runs the same Bloomberg U.S. MBS Index as iShares' MBB at the same 0.04% fee, and undercuts MBBA, which tracks that index for far more.
  • Roughly 2,700 mortgage bonds in a single line item, inside a multi-billion-dollar fund that trades actively, with distributions paid monthly.
  • Trading since 2009, and one of the strongest implementations in its mortgage-bond peer group.

Worth knowing

PMBS No data

  • SPMB Homeowners refinance when rates fall, so mortgage bonds get paid back early and rally less than Treasuries. That quirk is built into the index, not the fund.
  • Prices move with interest rates and the monthly payout floats with the portfolio. This is a bond fund, not a cash substitute.
  • US mortgages only. No Treasuries, no corporates, no credit spice. A building block for a bond sleeve rather than the whole sleeve.

Full PMBS profile⁠

Full SPMB profile⁠

PMBS vs SPMB 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.

PMBS vs SPMB Cost

Overpaying PMBS vs SPMB

$15,010

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

  • PMBS 0.83%

    $15,859

  • SPMB 0.04%

    $849

$10,000
30 years

Cost over time

  • PMBS 0.83%
  • SPMB 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530PMBS $15,859SPMB $849

Year by year

YearPMBSSPMBOverpaying
10$1,474$73$1,401
20$5,581$288$5,293
30$15,859$849$15,010

Expense ratio

  • 0.83%PMBS
  • 0.04%SPMB, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

SPMB 3rd cheapest of 24 funds

PMBS 23rd cheapest of 24 funds

PMBS vs SPMB Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PMBS 4.89%, better
SPMB 4.23%
Payout (12M)
PMBS $2.32
SPMB $0.92
Last payment
PMBS $0.18
SPMB $0.07
Ex-dividend
PMBS Oct 1, 2026
SPMB Oct 1, 2026
Paid on
PMBS Oct 5, 2026
SPMB Oct 6, 2026
Frequency
PMBS Monthly
SPMB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PMBSMonthly · 24 paymentsAll PMBS payments⁠
One bar per payment. 24 payments from 2023 to 2026 YTD. Nov 1, 2024 $0.26; Dec 2, 2024 $0.15; Dec 31, 2024 $0.35; Feb 3, 2025 $0.15; Mar 3, 2025 $0.15; Apr 1, 2025 $0.18; May 1, 2025 $0.20; Jun 2, 2025 $0.20; Jul 1, 2025 $0.20; Aug 1, 2025 $0.20; Sep 2, 2025 $0.23; Oct 1, 2025 $0.22; Nov 3, 2025 $0.22; Dec 1, 2025 $0.20; Dec 31, 2025 $0.20; Feb 4, 2026 $0.20; Mar 2, 2026 $0.20; Apr 1, 2026 $0.20; May 1, 2026 $0.19; Jun 1, 2026 $0.19; Jul 1, 2026 $0.18; Aug 3, 2026 $0.18; Sep 1, 2026 $0.18; Oct 1, 2026 $0.18. Use the arrow keys to read each point.$0$0.2520232026YTD
SPMBMonthly · 45 paymentsAll SPMB payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.06; Mar 1, 2023 $0.06; Apr 3, 2023 $0.06; May 1, 2023 $0.06; Jun 1, 2023 $0.06; Jul 3, 2023 $0.06; Aug 1, 2023 $0.06; Sep 1, 2023 $0.06; Oct 2, 2023 $0.06; Nov 1, 2023 $0.06; Dec 1, 2023 $0.06; Dec 18, 2023 $0.06; Feb 1, 2024 $0.06; Mar 1, 2024 $0.06; Apr 1, 2024 $0.06; May 1, 2024 $0.06; Jun 3, 2024 $0.06; Jul 1, 2024 $0.06; Aug 1, 2024 $0.06; Sep 3, 2024 $0.07; Oct 1, 2024 $0.07; Nov 1, 2024 $0.07; Dec 2, 2024 $0.07; Dec 19, 2024 $0.10; Feb 3, 2025 $0.07; Mar 3, 2025 $0.07; Apr 1, 2025 $0.07; May 1, 2025 $0.07; Jun 2, 2025 $0.07; Jul 1, 2025 $0.07; Aug 1, 2025 $0.07; Sep 2, 2025 $0.07; Oct 1, 2025 $0.07; Nov 3, 2025 $0.07; Dec 1, 2025 $0.07; Dec 18, 2025 $0.14; Feb 2, 2026 $0.07; Mar 2, 2026 $0.07; Apr 1, 2026 $0.07; May 1, 2026 $0.07; Jun 1, 2026 $0.07; Jul 1, 2026 $0.07; Aug 3, 2026 $0.07; Sep 1, 2026 $0.07; Oct 1, 2026 $0.07. Use the arrow keys to read each point.$0$0.2520232026YTD

PMBS vs SPMB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PMBS 5.7%since Oct 2024SPMB 6.5%
Return per unit of riskSharpe ratio, 3 years
PMBS −0.28since Oct 2024SPMB 0.28
Worst fallMax drawdown, 5 years
PMBS −6.7%since Sep 2024SPMB −17.0%
Market sensitivityBeta, 5 years
PMBS 0.11SPMB 1.15

Popular comparisons

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    Expense ratio
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