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 -4.54% year-to-date (YTD) with -$36M in YTD flows. SMBS performs better with -0.79% YTD performance, and +$849M 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 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FLMB SMBS | +0.82%+1.10% | -3.53%-0.59% | -4.54%-0.79% | -5.06%-0.32% | +10.86%n/a | -7.23%n/a |
| Flows | FLMB SMBS | -$2M+$33M | -$19M+$93M | -$36M+$849M | -$35M+$1.11B | -$54M- | -$52M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FLMB SMBS | +7.03%+5.79% | +4.42%+4.46% | +4.86%n/a | +4.88%n/a |
| Max drawdown | FLMB SMBS | -7.94%-4.24% | -10.38%-5.12% | -10.38%n/a | -19.00%n/a |
| Max drawdown duration | FLMB SMBS | 71d59d | 236d236d | 236dn/a | 1754dn/a |
Trading data
FLMB | SMBS | |
Last sale 10/23/2026 at 1:30 PM | $22.62 | $24.42 |
| Previous close 10/22/2026 | $22.52 | $24.47 |
| Consolidated volume 10/22/2026 | ||
| 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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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 10/23/2026 at 1:30 PM
Live
Closed
FLMB | SMBS | |
|---|---|---|
| Last price | $22.62 | $24.42 |
| 1D performance | +0.44% | -0.18% |
| AuM | $53.06 M | $6.41 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 | 25 | 430 |
| 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
34.8%
Other
65.2%
SMBS
USA
33.79%
Other
66.21%
Sectors
FLMB
Municipal
34.8%
Other
65.2%
SMBS
Industrials
33.23%
Other
66.77%
Diversification
FLMB
Total weight of top 15 holdings out of 15
53.21%
SMBS
Total weight of top 15 holdings out of 15
5.8%
Top 15 holdings
Data as of August 31, 2026
FLMB
US13013JDB98
5.24%
US13049YFL02
4.85%
US13013JCM62
4.76%
US45203NAV10
4.40%
US45884AB937
4.38%
Central Valley Water Reclamation Facility, 4% 1mar2047, USD (2021C)
4.14%
Atlanta Airport, 5.25% 1jul2043, USD (2023E)
3.49%
US7352403K70
3.30%
San Diego Regional Airport Authority, 5% 1jul2051, USD (2021B)
3.27%
US924166JC65
2.86%
US57422JBY38
2.83%
US155048EG20
2.71%
American Municipal Power Inc., 5% 15feb2044, USD (2019A)
2.37%
New York Liberty Development Corp., 2.5% 15nov2036, USD (2021A)
2.37%
US650360AD27
2.25%
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 FLMB and SMBS
How have the FLMB and SMBS ETFs performed in 2026?
As of October 23, 2026, FLMB is down -4.54% year-to-date (YTD), while SMBS has lost -0.79%. 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 -$36M in flows, compared to +$849M for SMBS.
Which ETF is more volatile: FLMB or SMBS?
Over the past year, FLMB had a volatility of 4.42%, while SMBS experienced 4.46%.
Which ETF is bigger: FLMB or SMBS?
As of October 23, 2026, FLMB holds $53.06 M in assets under management (AUM), while SMBS manages $6.41 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), US31427R6E50 and FR SD8469, 5.5% 1oct2054, USD (ABS).
Which ETF is more diversified: FLMB or SMBS?
FLMB holds 75 securities with 53.21% of its assets in the top 15. SMBS has 1965 securities and a top 15 weight of 5.8%.
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