FLMBvsSMBSETF Comparison
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Franklin Municipal Green Bond ETF (FLMB) belongs to the Green Bonds segment. Schwab Mortgage-Backed Securities ETF (SMBS) is part of the MBS & ABS segment. FLMB's top 1 sector exposures are Municipal. In contrast, SMBS's top sector exposures are Industrials, Finance and Government Agencies. FLMB is more expensive with a Total Expense Ratio (TER) of 0.3%, versus 0.03% for SMBS. FLMB is down -2.55% year-to-date (YTD) with -$20M in YTD flows. SMBS performs better with 0.25% YTD performance, and +$886M in YTD flows. Run a side-by-side ETF comparison of FLMB 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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FLMB vs SMBS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FLMB SMBS | -1.59%-0.31% | -3.71%-0.46% | -2.55%+0.25% | +1.17%+2.56% | +7.33%n/a | -6.85%n/a |
| Flows | FLMB SMBS | -$4M+$113M | -$10M+$277M | -$20M+$886M | -$19M+$1.28B | -$38M- | -$42M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FLMB SMBS | +3.76%+4.44% | +3.32%+3.91% | +4.71%n/a | +4.66%n/a |
| Max drawdown | FLMB SMBS | -4.26%-1.75% | -4.83%-2.67% | -6.80%n/a | -19.53%n/a |
| Max drawdown duration | FLMB SMBS | 66d67d | 187d187d | 282dn/a | 1809dn/a |
Trading data
FLMB | SMBS | |
Last sale 9/4/2026 at 1:30 PM | $23.03 | $24.84 |
| Previous close 09/04/2026 | $23.04 | $24.83 |
| Consolidated volume 09/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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FLMB
is actively managed and doesn’t replicate an indexFLMB | 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 9/4/2026 at 1:30 PM
Live
Closed
FLMB | SMBS | |
|---|---|---|
| Last price | $23.03 | $24.84 |
| 1D performance | -0.04% | +0.04% |
| AuM | $70.31 M | $6.55 B |
| E/R | 0.3% | 0.03% |
Characteristics
FLMB | SMBS | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Franklin Templeton | Schwab ETFs |
| Benchmark | - | Bloomberg U.S. MBS Float Adjusted Index |
| N° of holdings | 27 | 443 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 31, 2017 | November 19, 2024 |
| ESG | Yes | No |
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Exposure
Countries
FLMB
USA
35.22%
Other
64.78%
SMBS
USA
34%
Other
66%
Sectors
FLMB
Municipal
35.22%
Other
64.78%
SMBS
Industrials
33.45%
Other
66.55%
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Diversification
FLMB
Total weight of top 15 holdings out of 15
50.44%
SMBS
Total weight of top 15 holdings out of 15
5.64%
Top 15 holdings
Data as of July 31, 2026
FLMB
US13013JDB98
4.96%
US13049YFL02
4.63%
US13013JCM62
4.49%
US45203NAV10
4.17%
US45884AB937
4.16%
Central Valley Water Reclamation Facility, 4% 1mar2047, USD (2021C)
3.87%
Atlanta Airport, 5.25% 1jul2043, USD (2023E)
3.33%
US7352403K70
3.12%
San Diego Regional Airport Authority, 5% 1jul2051, USD (2021B)
3.09%
US924166JC65
2.70%
US57422JBY38
2.69%
US155048EG20
2.55%
American Municipal Power Inc., 5% 15feb2044, USD (2019A)
2.30%
New York Liberty Development Corp., 2.5% 15nov2036, USD (2021A)
2.24%
US650360AD27
2.14%
SMBS
G2 MB0025, 5% 20nov2054, USD (ABS)
0.67%
FR SD8469, 5.5% 1oct2054, USD (ABS)
0.49%
US31418DYX47
0.40%
US31427R6E50
0.39%
FR SD8193, 2% 1feb2052, USD (ABS)
0.37%
FR SD8106, 2% 1nov2050, USD (ABS)
0.35%
US3618N6HU47
0.35%
US3618N56H72
0.35%
US3618N53X59
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%
US3142J6BK85
0.30%
US3132DWAN39
0.30%
Frequently asked questions about FLMB and SMBS
How have the FLMB and SMBS ETFs performed in 2026?
As of September 4, 2026, FLMB is down -2.55% year-to-date (YTD), while SMBS has returned 0.25%. That puts SMBS better performer ahead so far this year.
Which ETF is attracting more investor money: FLMB or SMBS?
Year-to-date, the FLMB ETF saw -$20M in flows, compared to +$886M for SMBS.
Which ETF is more volatile: FLMB or SMBS?
Over the past year, FLMB had a volatility of 3.32%, while SMBS experienced 3.91%.
Which ETF is bigger: FLMB or SMBS?
As of September 4, 2026, FLMB holds $70.31 M in assets under management (AUM), while SMBS manages $6.55 B.
What sectors do the FLMB and SMBS ETFs invest in?
FLMB leans toward sectors like Municipal. Meanwhile, SMBS focuses on Industrials.
What are the top holdings of the FLMB ETF and SMBS ETF?
FLMB top holdings include US13013JDB98, US13049YFL02 and US13013JCM62. SMBS holds in its top three: G2 MB0025, 5% 20nov2054, USD (ABS), FR SD8469, 5.5% 1oct2054, USD (ABS) and US31418DYX47.
Which ETF is more diversified: FLMB or SMBS?
FLMB holds 78 securities with 50.44% of its assets in the top 15. SMBS has 1999 securities and a top 15 weight of 5.64%.
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