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SMBS vs TSEC

Schwab Mortgage-Backed Securities ETF

SMBSANYSE Arca

Touchstone Securitized Income ETF

TSECCNYSE Arca

Overlap

Expense ratio

SMBS −0.37pt a year

SMBS0.03%TSEC0.40%

Avg volume · 30D

SMBS 22.2×the volume

SMBS1.01MTSEC45.7K

SMBS vs TSEC Performance

Oct 31, 2025 – Oct 30, 2026

+0.3%SMBS+3.2%TSEC

Oct 31, 2025 to Oct 30, 2026. SMBS +0.3%. TSEC +3.2%. Use the arrow keys to read each point.−2%−1%2%4%Oct 2025Apr 2026Oct 2026
Expense ratio
SMBS 0.03%, better
TSEC 0.40%
Fund size
SMBS $6.45B
TSEC $171M
1Y total return
SMBS +0.3%
TSEC +3.2%, better
Yield (12M)
SMBS 5.32%
TSEC 7.49%, better
Holdings
SMBS 4343
TSEC 142
Avg volume (30D)
SMBS 1.01M sh, better
TSEC 45.7K sh
NAV per share
SMBS $24.67
TSEC $25.03
52W range

ETF.net Grade

SMBS: Cost 94, Risk 35, Mission 61, Tradability 68, Holdings 86, Durability 60. TSEC: Cost 44, Risk 85, Mission 8, Tradability 25, Holdings 58, Durability 47.
Pillar letters and Scores for SMBS, TSEC, with each pillar’s weight
PillarSMBSTSEC
Cost30% weightA94HigherC44
Mission25% weightB61HigherF8
Risk15% weightD35A85Higher
Tradability15% weightB68HigherD25
Holdings10% weightA86HigherB58
Durability5% weightB60HigherC47

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. SMBS and TSEC 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 ›

SMBS ranks 4th and TSEC 17th 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 5BJMTGJPMorgan Mortgage-Backed Securities ETFScore 63
  6. Rank 16CMTGPWisdomTree Mortgage Plus Bond FundScore 40
  7. Rank 17CTSECTouchstone Securitized Income ETFScore 39
  8. Rank 18DCAAAFirst Trust AAA CMBS ETFScore 35

Our read on each fund

ETF.net Research

SMBSASchwab Mortgage-Backed Securities ETF

TSECCTouchstone Securitized Income ETF

In short

SMBS No data

TSEC Most mortgage-bond ETFs are cheap index trackers stuffed with agency paper. TSEC goes the other way: an active book run by Fort Washington that roams the whole securitized market, from home and commercial mortgages to asset-backed deals and CLOs.

Stated mandate

SMBS No data

TSEC The Fund pursues combined income and capital growth, with a normal-market commitment of at least 80% of assets to securitized fixed-income securities.

Why people hold it

SMBS No data

  • TSEC Hunts across the full securitized market: residential and commercial mortgages, asset-backed deals and CLOs, plus Treasuries and agency paper. Index rivals mostly stop at agency mortgages.prnewswire.com
  • Actively managed and sub-advised by Fort Washington, Touchstone's affiliated bond manager, with a fully transparent portfolio.westernsouthern.comprnewswire.com
  • Built around income and pays monthly, with at least 80% of assets committed to securitized fixed income.

Worth knowing

SMBS No data

  • TSEC Charges 0.73% a year against a category median near 0.35%. Index heavyweights VMBS and MBB run 0.03% and 0.04%.
  • Thinly traded next to the category's giants, so the gap between buy and sell prices can run wider.
  • The Bloomberg U.S. Aggregate is a yardstick here, not a target. This is a securitized-only book that can behave very differently from the broad bond market.westernsouthern.com

Full SMBS profile⁠

Full TSEC profile⁠

SMBS vs TSEC 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.

SMBS vs TSEC Cost

Overpaying TSEC vs SMBS

$7,452

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

  • SMBS 0.03%

    $638

  • TSEC 0.40%

    $8,090

$10,000
30 years

Cost over time

  • SMBS 0.03%
  • TSEC 0.40%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530TSEC $8,090SMBS $638

Year by year

YearSMBSTSECOverpaying
10$55$723$668
20$216$2,793$2,577
30$638$8,090$7,452

Expense ratio

  • 0.03%SMBS, cheaper
  • 0.40%TSEC
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

SMBS cheapest of 24 funds

TSEC 15th cheapest of 24 funds

SMBS vs TSEC Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SMBS 5.32%
TSEC 7.49%, better
Payout (12M)
SMBS $1.31
TSEC $1.88
Last payment
SMBS $0.11
TSEC $0.15
Ex-dividend
SMBS Oct 1, 2026
TSEC Oct 29, 2026
Paid on
SMBS Oct 7, 2026
TSEC Oct 30, 2026
Frequency
SMBS Monthly
TSEC Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

SMBSMonthly · 22 paymentsAll SMBS payments⁠
One bar per payment. 22 payments from 2023 to 2026 YTD. Dec 20, 2024 $0.12; Feb 3, 2025 $0.13; Mar 3, 2025 $0.10; Apr 1, 2025 $0.10; May 1, 2025 $0.03; Jun 2, 2025 $0.11; Jul 1, 2025 $0.11; Aug 1, 2025 $0.12; Sep 2, 2025 $0.11; Oct 1, 2025 $0.11; Nov 3, 2025 $0.12; Dec 1, 2025 $0.10; Dec 19, 2025 $0.10; Feb 2, 2026 $0.11; Mar 2, 2026 $0.11; Apr 1, 2026 $0.10; May 1, 2026 $0.11; Jun 1, 2026 $0.11; Jul 1, 2026 $0.11; Aug 3, 2026 $0.12; Sep 1, 2026 $0.10; Oct 1, 2026 $0.11. Use the arrow keys to read each point.$0$0.2520232026YTD
TSECMonthly · 41 paymentsAll TSEC payments⁠
One bar per payment. 41 payments from 2023 to 2026 YTD. Aug 30, 2023 $0.19; Sep 27, 2023 $0.15; Oct 30, 2023 $0.09; Nov 29, 2023 $0.15; Dec 27, 2023 $0.15; Jan 30, 2024 $0.08; Feb 28, 2024 $0.12; Mar 28, 2024 $0.12; Apr 29, 2024 $0.13; May 30, 2024 $0.12; Jun 27, 2024 $0.11; Jul 30, 2024 $0.11; Aug 29, 2024 $0.13; Sep 27, 2024 $0.11; Oct 30, 2024 $0.15; Nov 27, 2024 $0.11; Dec 11, 2024 $0.05; Dec 30, 2024 $0.17; Jan 30, 2025 $0.10; Feb 27, 2025 $0.10; Mar 28, 2025 $0.10; Apr 29, 2025 $0.13; May 29, 2025 $0.10; Jun 27, 2025 $0.14; Jul 30, 2025 $0.11; Aug 28, 2025 $0.22; Sep 29, 2025 $0.15; Oct 30, 2025 $0.16; Nov 26, 2025 $0.14; Dec 11, 2025 $0.06; Dec 30, 2025 $0.17; Jan 29, 2026 $0.12; Feb 26, 2026 $0.19; Mar 30, 2026 $0.13; Apr 29, 2026 $0.16; May 28, 2026 $0.12; Jun 29, 2026 $0.16; Jul 30, 2026 $0.16; Aug 28, 2026 $0.14; Sep 29, 2026 $0.17; Oct 29, 2026 $0.15. Use the arrow keys to read each point.$0$0.2520232026YTD

SMBS vs TSEC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SMBS 4.9%since Dec 2024TSEC 2.5%
Return per unit of riskSharpe ratio, 3 years
SMBS −0.16since Dec 2024TSEC 0.86
Worst fallMax drawdown, 5 years
SMBS −5.2%since Nov 2024TSEC −1.7%since Jul 2023
Market sensitivityBeta, 5 years
SMBS 0.07TSEC 0.08

SMBS and TSEC in the news

All news⁠

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