BKMIvsSMBSETF Comparison
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BNY Mellon Municipal Intermediate ETF (BKMI) belongs to the Municipal Bonds segment. Schwab Mortgage-Backed Securities ETF (SMBS) is part of the MBS & ABS segment. BKMI's top 1 sector exposures are Municipal. In contrast, SMBS's top sector exposures are Industrials, Finance and Government Agencies. BKMI is more expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.03% for SMBS. Run a side-by-side ETF comparison of BKMI and SMBS below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BKMI vs SMBS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BKMI SMBS | -0.03%-0.22% | -2.74%-2.21% | n/a-1.53% | n/a-1.08% | n/an/a | n/an/a |
| Flows | BKMI SMBS | -$129M-$72M | -$109M+$35M | -+$770M | -+$1.08B | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BKMI SMBS | +4.71%+5.52% | n/a+4.35% | n/an/a | n/an/a |
| Max drawdown | BKMI SMBS | -5.28%-4.24% | n/a-5.12% | n/an/a | n/an/a |
| Max drawdown duration | BKMI SMBS | 92d52d | n/a229d | n/an/a | n/an/a |
Trading data
BKMI | SMBS | |
Last sale 10/16/2026 at 1:30 PM | $25.26 | $24.29 |
| Previous close 10/15/2026 | $25.22 | $24.32 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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BKMI
is actively managed and doesn’t replicate an indexBKMI | SMBS | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
BKMI | SMBS | |
|---|---|---|
| Last price | $25.26 | $24.29 |
| 1D performance | +0.17% | -0.12% |
| AuM | $1.53 B | $6.29 B |
| E/R | 0.35% | 0.03% |
Characteristics
BKMI | SMBS | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | BNY Mellon | Schwab ETFs |
| Benchmark | - | Bloomberg U.S. MBS Float Adjusted Index |
| N° of holdings | 134 | 430 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 9, 2026 | November 19, 2024 |
| ESG | No | No |
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Exposure
Countries
BKMI
USA
34.18%
Other
65.82%
SMBS
USA
33.79%
Other
66.21%
Sectors
BKMI
Municipal
34.18%
Other
65.82%
SMBS
Industrials
33.23%
Other
66.77%
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Diversification
BKMI
Total weight of top 15 holdings out of 15
10.78%
SMBS
Total weight of top 15 holdings out of 15
5.8%
Top 15 holdings
Data as of August 31, 2026
BKMI
US452227VK43
0.95%
New York Liberty Development Corp., 5% 15nov2044, USD
0.93%
US736742ZR10
0.82%
State of Washington, 5% 1jul2038, USD (2023B)
0.75%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2033, USD (2018A)
0.74%
US56682HDR75
0.71%
US59333APJ42
0.67%
New York Dormitory Authority, 5% 1oct2035, USD (2026A)
0.66%
Connecticut Health and Educational Facilities Authority, 5% 1jul2064, USD (2025B-2)
0.66%
US74445HAL42
0.66%
US59261A4U82
0.65%
US87638TJU88
0.65%
US56035DHT28
0.65%
US88283KCB26
0.65%
City of New York, 7.5% 1feb2021, USD (1992-G)
0.65%
SMBS
G2 MB0025, 5% 20nov2054, USD (ABS)
0.67%
US31427R6E50
0.59%
FR SD8469, 5.5% 1oct2054, USD (ABS)
0.48%
FR SD8193, 2% 1feb2052, USD (ABS)
0.40%
US31418DYX47
0.40%
FR SD8106, 2% 1nov2050, USD (ABS)
0.36%
US3618N6HU47
0.35%
FR RQ0110, 5% 1apr2056, USD (ABS)
0.34%
FR RQ0102, 5% 1mar2056, USD (ABS)
0.34%
US3132DWDC47
0.33%
FR SD7552, 2.5% 1jan2052, USD (ABS)
0.31%
US31418EQ948
0.31%
US3142J6BK85
0.30%
US3132DWAN39
0.30%
US3618N6NA19
0.30%
Frequently asked questions about BKMI and SMBS
Which ETF is bigger: BKMI or SMBS?
As of October 16, 2026, BKMI holds $1.53 B in assets under management (AUM), while SMBS manages $6.29 B.
What sectors do the BKMI and SMBS ETFs invest in?
BKMI leans toward sectors like Municipal. Meanwhile, SMBS focuses on Industrials.
What are the top holdings of the BKMI ETF and SMBS ETF?
BKMI top holdings include US452227VK43, New York Liberty Development Corp., 5% 15nov2044, USD and US736742ZR10. SMBS holds in its top three: G2 MB0025, 5% 20nov2054, USD (ABS), US31427R6E50 and FR SD8469, 5.5% 1oct2054, USD (ABS).
Which ETF is more diversified: BKMI or SMBS?
BKMI holds 529 securities with 10.78% of its assets in the top 15. SMBS has 1965 securities and a top 15 weight of 5.8%.
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