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VETZ vs VMBS

Academy Veteran Impact ETF

VETZCNYSE Arca

Vanguard Mortgage-Backed Securities ETF

VMBSANasdaq

Overlap

No data

Expense ratio

VMBS −0.32pt a year

VETZ0.35%VMBS0.03%

Avg volume · 30D

VMBS 89.4×the volume

VETZ20.7KVMBS1.85M

3Y return · a year

VMBS +0.4pt

VETZ+5.5%VMBS+5.9%

VETZ vs VMBS Performance

Oct 31, 2025 – Nov 2, 2026

+0.5%VETZ+0.9%VMBS

Oct 31, 2025 to Nov 2, 2026. VETZ +0.5%. VMBS +0.9%. Use the arrow keys to read each point.−2%−1%2%3%Oct 2025May 2026Nov 2026
Expense ratio
VETZ 0.35%
VMBS 0.03%, better
Fund size
VETZ $131M
VMBS $17.1B
1Y total return
VETZ +0.5%
VMBS +0.9%, better
Yield (12M)
VETZ 6.58%, better
VMBS 4.70%
Holdings
VETZ 161
VMBS 4924
Avg volume (30D)
VETZ 20.7K sh
VMBS 1.85M sh, better
NAV per share
VETZ $19.12
VMBS $45.51
52W range

ETF.net Grade

VETZ: Cost 58, Risk 41, Mission 44, Tradability 38, Holdings 51, Durability 26. VMBS: Cost 94, Risk 37, Mission 64, Tradability 63, Holdings 86, Durability 92.
Pillar letters and Scores for VETZ, VMBS, with each pillar’s weight
PillarVETZVMBS
Cost30% weightB58A94Higher
Mission25% weightC44B64Higher
Risk15% weightC41HigherD37
Tradability15% weightD38B63Higher
Holdings10% weightC51A86Higher
Durability5% weightD26A92Higher

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. VETZ 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 2nd and VETZ 12th of 24 funds in the Mortgage-Backed Securities Category.

  1. Rank 1ASPMBState Street SPDR Portfolio Mortgage Backed Bond ETFScore 74
  2. Rank 2AMBBiShares MBS ETFScore 72
  3. Rank 2AVMBSVanguard Mortgage-Backed Securities ETFScore 72
  4. Rank 4ASMBSSchwab Mortgage-Backed Securities ETFScore 70
  5. Rank 11CDMBSDoubleLine Mortgage ETFScore 50
  6. Rank 12CVETZAcademy Veteran Impact ETFScore 46
  7. Rank 13CLMBSFirst Trust Low Duration Opportunities ETFScore 45

Our read on each fund

ETF.net Research

VETZCAcademy Veteran Impact ETF

VMBSAVanguard Mortgage-Backed Securities ETF

In short

VETZ Most mortgage-bond ETFs are pure plumbing. VETZ makes the borrower the point: a US fixed-income portfolio built around lending to active-duty service members and veterans, with income paid out 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

VETZ The Fund seeks current income while pursuing a positive impact for active duty service members and veterans, including through veteran loans.

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

  • VETZ The mandate is the whole differentiator: the stated objective is current income while pursuing a positive impact for active-duty service members and veterans, including through veteran loans.
  • Ordinary machinery under an unusual theme: US bonds, roughly 160 positions, cash distributed monthly.
  • The 0.35% expense ratio lands at the median for mortgage-bond ETFs, so the veteran-loan angle is not priced as a specialty add-on.
  • 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

  • VETZ Index rivals set a cheap bar: VMBS charges 0.03% and MBB 0.04%. The gap is what the impact mandate and active security selection cost here.
  • Small and thinly traded, so spreads can run wider than the category's giants and larger orders may need patience.
  • Launched in 2023, it sits in the lower half of its mortgage-bond peer group on our read, and it is still a bond fund: values move with rates and prepayments.
  • 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 VETZ profile⁠

Full VMBS profile⁠

VETZ 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.

VETZ vs VMBS Cost

Overpaying VETZ vs VMBS

$6,488

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

  • VETZ 0.35%

    $7,126

  • VMBS 0.03%

    $638

$10,000
30 years

Cost over time

  • VETZ 0.35%
  • VMBS 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K051015202530VETZ $7,126VMBS $638

Year by year

YearVETZVMBSOverpaying
10$634$55$579
20$2,454$216$2,238
30$7,126$638$6,488

Expense ratio

  • 0.35%VETZ
  • 0.03%VMBS, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

VMBS cheapest of 24 funds

VETZ 11th cheapest of 24 funds

VETZ vs VMBS Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
VETZ 6.58%, better
VMBS 4.70%
Payout (12M)
VETZ $1.25
VMBS $2.14
Last payment
VETZ $0.09
VMBS $0.17
Ex-dividend
VETZ Nov 2, 2026
VMBS Nov 2, 2026
Paid on
VETZ Pays Nov 3, 2026
VMBS Pays Nov 4, 2026
Frequency
VETZ Monthly
VMBS Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

VETZMonthly · 39 paymentsAll VETZ payments⁠
One bar per payment. 39 payments from 2023 to 2026 YTD. Sep 1, 2023 $0.04; Oct 2, 2023 $0.07; Nov 1, 2023 $0.07; Dec 1, 2023 $0.09; Dec 22, 2023 $0.11; Feb 1, 2024 $0.08; Mar 1, 2024 $0.08; Apr 1, 2024 $0.08; May 1, 2024 $0.09; Jun 3, 2024 $0.08; Jul 1, 2024 $0.08; Aug 1, 2024 $0.09; Sep 3, 2024 $0.09; Oct 1, 2024 $0.10; Nov 1, 2024 $0.09; Dec 2, 2024 $0.10; Dec 27, 2024 $0.19; Feb 3, 2025 $0.09; Mar 3, 2025 $0.09; Apr 1, 2025 $0.10; May 1, 2025 $0.09; Jun 2, 2025 $0.10; Jul 1, 2025 $0.11; Aug 1, 2025 $0.10; Sep 2, 2025 $0.10; Oct 1, 2025 $0.09; Nov 3, 2025 $0.11; Dec 1, 2025 $0.11; Dec 30, 2025 $0.13; Feb 2, 2026 $0.10; Mar 2, 2026 $0.08; Apr 1, 2026 $0.10; May 1, 2026 $0.08; Jun 1, 2026 $0.09; Jul 1, 2026 $0.09; Aug 3, 2026 $0.09; Sep 1, 2026 $0.09; Oct 1, 2026 $0.09; Nov 2, 2026 $0.09. Use the arrow keys to read each point.$0$0.2020232026YTD
VMBSMonthly · 46 paymentsAll VMBS payments⁠
One bar per payment. 46 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; Nov 2, 2026 $0.17. Use the arrow keys to read each point.$0$0.2020232026YTD

VETZ vs VMBS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
VETZ 5.6%, betterVMBS 6.3%
Return per unit of riskSharpe ratio, 3 years
VETZ 0.28VMBS 0.33, better
Worst fallMax drawdown, 5 years
VETZ −5.2%since Aug 2023VMBS −16.9%
Market sensitivityBeta, 5 years
VETZ 0.24VMBS 1.12

Popular comparisons

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    Academy Veteran Impact ETF · State Street SPDR Portfolio Mortgage Backed Bond ETF

    Expense ratio
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    Category
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  • VMBSAvsSPMBA

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