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SMBS vs PMBS

Schwab Mortgage-Backed Securities ETF vs PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

SMBS

Schwab Mortgage-Backed Securities ETF

Schwab ETFs

Annual cost

0.03%

Fund size

$6.3B

PMBS

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

PIMCO

Annual cost

0.71%

Fund size

$1.3B

Key differences

  • SMBS costs 0.68% less per year.
  • SMBS is significantly larger than PMBS — larger funds tend to be more liquid and less likely to close.
  • SMBS is classified as fixed income, while PMBS is alternative — different risk/return profiles.
  • SMBS follows a index tracking strategy; PMBS uses tactical allocation.
  • PMBS has a longer track record, which may reduce uncertainty around long-term behavior.

Side-by-side comparison

SMBSPMBS
Annual cost (TER)0.03%0.71%
Fund size (AUM)$6.3B$1.3B
Since20241997
Dividend yield4.82%4.98%
Asset classfixed incomealternative
Regionnorth america
Strategyindex trackingtactical allocation
CAGR 1Y+7.2%+8.2%
CAGR 3YN/AN/A
CAGR 5YN/AN/A
Sharpe 3YN/AN/A
Volatility 1Y4.18%4.26%
Max drawdown-3.20%-4.35%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

Similar to SMBS and PMBS