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PMBSvsCMBSETF Comparison

ETF 1

PMBS

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

This fund is part of

MBS & ABS

+0.15%

Full PMBS fund page

VS

ETF 2

CMBS

iShares CMBS ETF

This fund is part of

MBS & ABS

+0.15%

Full CMBS fund page

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and iShares CMBS ETF (CMBS) have similar underlying exposures to countries and sectors. They also belong to the same industry segment: MBS & ABS. PMBS's top 3 sector exposures are Industrials, Sovereign and Finance. In contrast, CMBS's top sector exposures are Industrials, Non-Corporate and Finance. PMBS is more expensive with a Total Expense Ratio (TER) of 0.71%, versus 0.25% for CMBS. PMBS is down -2.12% year-to-date (YTD) with +$538M in YTD flows. CMBS performs better with -0.11% YTD performance, and -$38M in YTD flows. Run a side-by-side ETF comparison of PMBS and CMBS 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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PMBS vs CMBS performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 10/26/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	PMBS CMBS	+1.73%+1.02%	-2.46%-0.44%	-2.12%-0.11%	-1.63%+0.32%	n/a+18.67%	n/a+4.32%
Flows	PMBS CMBS	+$38M-$14M	+$89M-$24M	+$538M-$38M	+$655M-$55M	-+$26M	--$269M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	PMBS CMBS	+6.69%+2.92%	+5.00%+2.67%	n/a+3.54%	n/a+4.57%
Max drawdown	PMBS CMBS	-5.75%-2.18%	-6.92%-2.79%	n/a-2.79%	n/a-14.68%
Max drawdown duration	PMBS CMBS	62d62d	239d239d	n/a239d	n/a1321d

Trading data

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	PMBS	CMBS
Last sale 10/27/2026 at 1:30 PM	$47.18	$47.76
Previous close 10/26/2026	$47.12	$47.68
Consolidated volume 10/26/2026
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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PMBS

is actively managed and doesn’t replicate an index

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	PMBS	CMBS
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 10/27/2026 at 1:30 PM

Live

Closed

	PMBS	CMBS
Last price	$47.18	$47.76
1D performance	+0.13%	+0.17%
AuM	$1.43 B	$442.85 M
E/R	0.71%	0.25%

Characteristics

	PMBS	CMBS
Management strategy	Active	Passive
Provider	PIMCO	iShares
Benchmark	-	Bloomberg US CMBS ERISA Eligible Index
N° of holdings	101	20
Asset class	-	Fixed Income
Trailing 12m distribution yield	Join	Join
Inception date	September 20, 2024	February 14, 2012
ESG	No	No

More PMBS data on Trackinsight

More CMBS data on Trackinsight

Exposure

Countries

PMBS

Other

100%

CMBS

Other

100%

Sectors

PMBS

Other

100%

CMBS

Other

100%

Diversification

PMBS

Total weight of top 15 holdings out of 15

37.43%

CMBS

Total weight of top 15 holdings out of 15

12.36%

Top 15 holdings

Data as of August 31, 2026

PMBS

US01F0606A83

6.88%

US01F0506A92

3.98%

US01F0306A11

3.06%

US21H0626935

2.52%

US01F0206957

2.47%

US3618N5ZG77

2.27%

US01F0506927

2.25%

US01F0406A02

2.25%

US3142GWVD80

2.18%

US01F0426993

1.91%

US21H0226975

1.84%

US21H0526A19

1.72%

US01F0604A02

1.58%

US21H0206910

1.28%

US21H0406999

1.26%

CMBS

Freddie Mac REMICS K117, 1.406% 25aug2030, USD (ABS, A2)

1.26%

US3137HCXK30

1.14%

US3137FTBM86

1.10%

US3137FPHK45

0.90%

US3136BMXZ61

0.87%

US3137HLJ526

0.86%

US3137HNN870

0.83%

US05555PAB85

0.73%

US3137HAAG19

0.72%

US3137HPUE10

0.71%

US3137FMTY89

0.70%

US22945DAG88

0.68%

US09661XAB47

0.64%

US3137HHHY05

0.62%

US05491UBD90

0.62%

Frequently asked questions about PMBS and CMBS

How have the PMBS and CMBS ETFs performed in 2026?

As of October 26, 2026, PMBS is down -2.12% year-to-date (YTD), while CMBS has lost -0.11%. That puts CMBS better performer ahead so far this year.

Which ETF is attracting more investor money: PMBS or CMBS?

Year-to-date, the PMBS ETF saw +$538M in flows, compared to -$38M for CMBS.

Which ETF is more volatile: PMBS or CMBS?

Over the past year, PMBS had a volatility of 5%, while CMBS experienced 2.67%.

Which ETF is bigger: PMBS or CMBS?

As of October 26, 2026, PMBS holds $1.43 B in assets under management (AUM), while CMBS manages $442.85 M.

What are the top holdings of the PMBS ETF and CMBS ETF?

PMBS top holdings include US01F0606A83, US01F0506A92 and US01F0306A11. CMBS holds in its top three: Freddie Mac REMICS K117, 1.406% 25aug2030, USD (ABS, A2), US3137HCXK30 and US3137FTBM86.

Which ETF is more diversified: PMBS or CMBS?

PMBS holds 1063 securities with 37.43% of its assets in the top 15. CMBS has 451 securities and a top 15 weight of 12.36%.

Agency MBS Valuations are Historically Cheap

January 1, 1970

PMBS

PMBSvsCMBSETF Comparison

PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund

iShares CMBS ETF

PMBS vs CMBS performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the PMBS and CMBS ETFs performed in 2026?

As of October 26, 2026, PMBS is down -2.12% year-to-date (YTD), while CMBS has lost -0.11%. That puts CMBS better performer ahead so far this year.

Which ETF is attracting more investor money: PMBS or CMBS?

Year-to-date, the PMBS ETF saw +$538M in flows, compared to -$38M for CMBS.

Which ETF is more volatile: PMBS or CMBS?

Over the past year, PMBS had a volatility of 5%, while CMBS experienced 2.67%.

Which ETF is bigger: PMBS or CMBS?

As of October 26, 2026, PMBS holds $1.43 B in assets under management (AUM), while CMBS manages $442.85 M.

What are the top holdings of the PMBS ETF and CMBS ETF?

PMBS top holdings include US01F0606A83, US01F0506A92 and US01F0306A11. CMBS holds in its top three: Freddie Mac REMICS K117, 1.406% 25aug2030, USD (ABS, A2), US3137HCXK30 and US3137FTBM86.

Which ETF is more diversified: PMBS or CMBS?

PMBS holds 1063 securities with 37.43% of its assets in the top 15. CMBS has 451 securities and a top 15 weight of 12.36%.

Agency MBS Valuations are Historically Cheap

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