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SCIO vs SPMB

First Trust Structured Credit Income Opportunities ETF

SCIODNYSE Arca

State Street SPDR Portfolio Mortgage Backed Bond ETF

SPMBANYSE Arca

Overlap

No data

Expense ratio

SPMB −0.82pt a year

SCIO0.86%SPMB0.04%

Avg volume · 30D

SPMB 5.8×the volume

SCIO281KSPMB1.62M

SCIO vs SPMB Performance

Oct 31, 2025 – Oct 30, 2026

+2.7%SCIO+0.3%SPMB

Oct 31, 2025 to Oct 30, 2026. SCIO +2.7%. SPMB +0.3%. Use the arrow keys to read each point.−2%4%Oct 2025Apr 2026Oct 2026
Expense ratio
SCIO 0.86%
SPMB 0.04%, better
Fund size
SCIO $573M
SPMB $7B
1Y total return
SCIO +2.7%, better
SPMB +0.3%
Yield (12M)
SCIO 5.68%, better
SPMB 4.23%
Holdings
SCIO 395
SPMB 2779
Avg volume (30D)
SCIO 281K sh
SPMB 1.62M sh, better
NAV per share
SCIO $20.15
SPMB $21.63
52W range

ETF.net Grade

SCIO: Cost 0, Risk 80, Mission 31, Tradability 44, Holdings 56, Durability 57. SPMB: Cost 94, Risk 34, Mission 64, Tradability 95, Holdings 75, Durability 83.
Pillar letters and Scores for SCIO, SPMB, with each pillar’s weight
PillarSCIOSPMB
Cost30% weightF0A94Higher
Mission25% weightD31B64Higher
Risk15% weightA80HigherD34
Tradability15% weightC44A95Higher
Holdings10% weightB56A75Higher
Durability5% weightB57A83Higher

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. SCIO 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 SCIO 19th 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 18DCAAAFirst Trust AAA CMBS ETFScore 35
  4. Rank 19DSCIOFirst Trust Structured Credit Income Opportunities ETFScore 34
  5. Rank 20DPMBSPIMCO Mortgage-Backed Securities Active Exchange-Traded FundScore 32

Our read on each fund

ETF.net Research

SCIODFirst Trust Structured Credit Income Opportunities ETF

SPMBAState Street SPDR Portfolio Mortgage Backed Bond ETF

In short

SCIO Most of the mortgage-bond aisle is cheap index trackers holding thousands of agency loans. SCIO is the odd one out: an active First Trust book of roughly 50 structured credit positions, paying monthly.

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

SCIO The Fund seeks to maximize long-term income. Under normal market conditions, it invests at least 80% of net assets, plus investment borrowings, in structured credit investments such as RMBS, CMBS, CLOs and ABS.

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

  • SCIO Clear mandate: at least 80% of net assets in structured credit, with the stated goal of maximizing long-term income. Managers pick the paper instead of replicating an index.ftportfolios.com
  • Income shows up monthly, which matches the fund's own income-first objective rather than a quarterly bond-fund rhythm.
  • Roughly 50 positions, so manager selection actually drives the outcome. That is exposure a broad agency-MBS index fund like VMBS or MBB is not built to give you.
  • For a niche credit strategy, it trades with moderate, workable volume and carries a real asset base behind it.
  • 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

  • SCIO Active work costs money: 0.70% a year, versus single-digit basis points at index rivals such as VMBS (0.03%) and SPMB (0.04%).
  • Launched in 2024, so the track record is short and has not been tested across a full credit cycle.
  • It is shelved with mortgage-bond funds but does not behave like one. Structured credit carries different risks than government-backed agency paper.
  • 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 SCIO profile⁠

Full SPMB profile⁠

SCIO 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.

SCIO vs SPMB Cost

Overpaying SCIO vs SPMB

$15,519

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

  • SCIO 0.86%

    $16,368

  • SPMB 0.04%

    $849

$10,000
30 years

Cost over time

  • SCIO 0.86%
  • 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$20K051015202530SCIO $16,368SPMB $849

Year by year

YearSCIOSPMBOverpaying
10$1,525$73$1,452
20$5,768$288$5,480
30$16,368$849$15,519

Expense ratio

  • 0.86%SCIO
  • 0.04%SPMB, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

SPMB 3rd cheapest of 24 funds

SCIO 24th cheapest of 24 funds

SCIO vs SPMB Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SCIO 5.68%, better
SPMB 4.23%
Payout (12M)
SCIO $1.14
SPMB $0.92
Last payment
SCIO $0.10
SPMB $0.07
Ex-dividend
SCIO Oct 21, 2026
SPMB Oct 1, 2026
Paid on
SCIO Oct 30, 2026
SPMB Oct 6, 2026
Frequency
SCIO Monthly
SPMB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

SCIOMonthly · 31 paymentsAll SCIO payments⁠
One bar per payment. 31 payments from 2023 to 2026 YTD. Apr 23, 2024 $0.09; May 21, 2024 $0.10; Jun 27, 2024 $0.10; Jul 23, 2024 $0.11; Aug 21, 2024 $0.11; Sep 26, 2024 $0.12; Oct 22, 2024 $0.14; Nov 21, 2024 $0.14; Dec 13, 2024 $0.49; Jan 22, 2025 $0.11; Feb 21, 2025 $0.11; Mar 27, 2025 $0.11; Apr 22, 2025 $0.12; May 21, 2025 $0.12; Jun 26, 2025 $0.12; Jul 22, 2025 $0.12; Aug 21, 2025 $0.12; Sep 25, 2025 $0.12; Oct 21, 2025 $0.11; Nov 21, 2025 $0.10; Dec 12, 2025 $0.10; Jan 21, 2026 $0.10; Feb 20, 2026 $0.10; Mar 26, 2026 $0.10; Apr 21, 2026 $0.10; May 21, 2026 $0.10; Jun 25, 2026 $0.10; Jul 21, 2026 $0.10; Aug 21, 2026 $0.10; Sep 24, 2026 $0.10; Oct 21, 2026 $0.10. Use the arrow keys to read each point.$0$0.5020232026YTD
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$0.5020232026YTD

SCIO vs SPMB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SCIO 3.1%since Mar 2024SPMB 6.5%
Return per unit of riskSharpe ratio, 3 years
SCIO 0.81since Mar 2024SPMB 0.28
Worst fallMax drawdown, 5 years
SCIO −2.7%since Feb 2024SPMB −17.0%
Market sensitivityBeta, 5 years
SCIO 0.08SPMB 1.15

SCIO and SPMB in the news

All news⁠

Popular comparisons

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    Expense ratio
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