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SCIO vs VMBS

First Trust Structured Credit Income Opportunities ETF

SCIODNYSE Arca

Vanguard Mortgage-Backed Securities ETF

VMBSANasdaq

Overlap

No data

Expense ratio

VMBS −0.83pt a year

SCIO0.86%VMBS0.03%

Avg volume · 30D

VMBS 6.6×the volume

SCIO281KVMBS1.85M

SCIO vs VMBS Performance

Oct 31, 2025 – Oct 30, 2026

+2.7%SCIO+0.9%VMBS

Oct 31, 2025 to Oct 30, 2026. SCIO +2.7%. VMBS +0.9%. Use the arrow keys to read each point.−2%−1%0%2%4%Oct 2025Apr 2026Oct 2026
Expense ratio
SCIO 0.86%
VMBS 0.03%, better
Fund size
SCIO $573M
VMBS $17.1B
1Y total return
SCIO +2.7%, better
VMBS +0.9%
Yield (12M)
SCIO 5.68%, better
VMBS 4.31%
Holdings
SCIO 395
VMBS 4924
Avg volume (30D)
SCIO 281K sh
VMBS 1.85M sh, better
NAV per share
SCIO $20.15
VMBS $45.51
52W range

ETF.net Grade

SCIO: Cost 0, Risk 80, Mission 31, Tradability 44, Holdings 56, Durability 57. VMBS: Cost 94, Risk 36, Mission 64, Tradability 63, Holdings 86, Durability 92.
Pillar letters and Scores for SCIO, VMBS, with each pillar’s weight
PillarSCIOVMBS
Cost30% weightF0A94Higher
Mission25% weightD31B64Higher
Risk15% weightA80HigherD36
Tradability15% weightC44B63Higher
Holdings10% weightB56A86Higher
Durability5% weightB57A92Higher

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 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 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 3AVMBSVanguard Mortgage-Backed Securities ETFScore 72
  4. Rank 4ASMBSSchwab Mortgage-Backed Securities ETFScore 70
  5. Rank 18DCAAAFirst Trust AAA CMBS ETFScore 35
  6. Rank 19DSCIOFirst Trust Structured Credit Income Opportunities ETFScore 34
  7. 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

VMBSAVanguard Mortgage-Backed Securities 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.

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

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.

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

  • 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.
  • 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

  • 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.
  • 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 SCIO profile⁠

Full VMBS profile⁠

SCIO 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.

SCIO vs VMBS Cost

Overpaying SCIO vs VMBS

$15,730

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

  • SCIO 0.86%

    $16,368

  • VMBS 0.03%

    $638

$10,000
30 years

Cost over time

  • SCIO 0.86%
  • 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$20K051015202530SCIO $16,368VMBS $638

Year by year

YearSCIOVMBSOverpaying
10$1,525$55$1,470
20$5,768$216$5,552
30$16,368$638$15,730

Expense ratio

  • 0.86%SCIO
  • 0.03%VMBS, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

VMBS cheapest of 24 funds

SCIO 24th cheapest of 24 funds

SCIO vs VMBS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SCIO 5.68%, better
VMBS 4.31%
Payout (12M)
SCIO $1.14
VMBS $1.97
Last payment
SCIO $0.10
VMBS $0.16
Ex-dividend
SCIO Oct 21, 2026
VMBS Oct 1, 2026
Paid on
SCIO Oct 30, 2026
VMBS Oct 5, 2026
Frequency
SCIO Monthly
VMBS 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
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$0.5020232026YTD

SCIO vs VMBS 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 2024VMBS 6.3%
Return per unit of riskSharpe ratio, 3 years
SCIO 0.81since Mar 2024VMBS 0.33
Worst fallMax drawdown, 5 years
SCIO −2.7%since Feb 2024VMBS −16.9%
Market sensitivityBeta, 5 years
SCIO 0.08VMBS 1.12

SCIO and VMBS in the news

All news⁠

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