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PMBS vs VMBS

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

PMBSDNasdaq

Vanguard Mortgage-Backed Securities ETF

VMBSANasdaq

Overlap

No data

Expense ratio

VMBS −0.80pt a year

PMBS0.83%VMBS0.03%

Avg volume · 30D

VMBS 11.7×the volume

PMBS159KVMBS1.85M

PMBS vs VMBS Performance

Oct 31, 2025 – Oct 30, 2026

−0.1%PMBS+0.9%VMBS

Oct 31, 2025 to Oct 30, 2026. PMBS −0.1%. VMBS +0.9%. Use the arrow keys to read each point.−3%−2%−1%2%3%Oct 2025Apr 2026Oct 2026
Expense ratio
PMBS 0.83%
VMBS 0.03%, better
Fund size
PMBS $1.35B
VMBS $17.1B
1Y total return
PMBS −0.1%
VMBS +0.9%, better
Yield (12M)
PMBS 4.89%, better
VMBS 4.31%
Holdings
PMBS 1233
VMBS 4924
Avg volume (30D)
PMBS 159K sh
VMBS 1.85M sh, better
NAV per share
PMBS $47.32
VMBS $45.51
52W range

ETF.net Grade

PMBS: Cost 4, Risk 28, Mission 57, Tradability 56, Holdings 18, Durability 50. VMBS: Cost 94, Risk 36, Mission 64, Tradability 63, Holdings 86, Durability 92.
Pillar letters and Scores for PMBS, VMBS, with each pillar’s weight
PillarPMBSVMBS
Cost30% weightF4A94Higher
Mission25% weightB57B64Higher
Risk15% weightD28D36Higher
Tradability15% weightB56B63Higher
Holdings10% weightF18A86Higher
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. PMBS 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 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 3AVMBSVanguard Mortgage-Backed Securities ETFScore 72
  4. Rank 4ASMBSSchwab Mortgage-Backed Securities ETFScore 70
  5. Rank 19DSCIOFirst Trust Structured Credit Income Opportunities ETFScore 34
  6. Rank 20DPMBSPIMCO Mortgage-Backed Securities Active Exchange-Traded FundScore 32
  7. Rank 21DGISCGuggenheim Securitized Income ETFScore 31

Our read on each fund

ETF.net Research

PMBSDPIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

VMBSAVanguard Mortgage-Backed Securities ETF

In short

PMBS No data

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

PMBS No data

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

PMBS No data

  • 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

PMBS No data

  • 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 PMBS profile⁠

Full VMBS profile⁠

PMBS 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.

PMBS vs VMBS Cost

Overpaying PMBS vs VMBS

$15,221

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

  • PMBS 0.83%

    $15,859

  • VMBS 0.03%

    $638

$10,000
30 years

Cost over time

  • PMBS 0.83%
  • VMBS 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530PMBS $15,859VMBS $638

Year by year

YearPMBSVMBSOverpaying
10$1,474$55$1,419
20$5,581$216$5,365
30$15,859$638$15,221

Expense ratio

  • 0.83%PMBS
  • 0.03%VMBS, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

VMBS cheapest of 24 funds

PMBS 23rd cheapest of 24 funds

PMBS vs VMBS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PMBS 4.89%, better
VMBS 4.31%
Payout (12M)
PMBS $2.32
VMBS $1.97
Last payment
PMBS $0.18
VMBS $0.16
Ex-dividend
PMBS Oct 1, 2026
VMBS Oct 1, 2026
Paid on
PMBS Oct 5, 2026
VMBS Oct 5, 2026
Frequency
PMBS Monthly
VMBS 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
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

PMBS vs VMBS 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 2024VMBS 6.3%
Return per unit of riskSharpe ratio, 3 years
PMBS −0.28since Oct 2024VMBS 0.33
Worst fallMax drawdown, 5 years
PMBS −6.7%since Sep 2024VMBS −16.9%
Market sensitivityBeta, 5 years
PMBS 0.11VMBS 1.12

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