SMBSvsBSSXETF Comparison
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Schwab Mortgage-Backed Securities ETF (SMBS) belongs to the MBS & ABS segment. Invesco BulletShares 2033 Municipal Bond ETF (BSSX) is part of the Municipal Bonds segment. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, BSSX's top sector exposures are Municipal. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.18% for BSSX. SMBS is down -1.53% year-to-date (YTD) with +$770M in YTD flows. BSSX performs worse with -2.47% YTD performance, and +$43M in YTD flows. Run a side-by-side ETF comparison of SMBS and BSSX 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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SMBS vs BSSX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMBS BSSX | -0.22%-0.05% | -2.21%-3.39% | -1.53%-2.47% | -1.08%-1.85% | n/a+11.30% | n/an/a |
| Flows | SMBS BSSX | -$72M+$12M | +$35M+$22M | +$770M+$43M | +$1.08B+$61M | -+$148M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS BSSX | +5.52%+5.34% | +4.35%+3.41% | n/a+4.50% | n/an/a |
| Max drawdown | SMBS BSSX | -4.24%-6.07% | -5.12%-7.19% | n/a-7.19% | n/an/a |
| Max drawdown duration | SMBS BSSX | 52d92d | 229d229d | n/a229d | n/an/a |
Trading data
SMBS | BSSX | |
Last sale 10/16/2026 at 1:30 PM | $24.29 | $24.58 |
| Previous close 10/15/2026 | $24.32 | $24.48 |
| 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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SMBS | BSSX | |
|---|---|---|
| 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
SMBS | BSSX | |
|---|---|---|
| Last price | $24.29 | $24.58 |
| 1D performance | -0.12% | +0.39% |
| AuM | $6.29 B | $149.47 M |
| E/R | 0.03% | 0.18% |
Characteristics
SMBS | BSSX | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Schwab ETFs | Invesco |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | ICE BulletShares USD Municipal Bond 2033 Index |
| N° of holdings | 430 | 473 |
| Asset class | Bonds | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | September 20, 2023 |
| ESG | No | No |
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Exposure
Countries
SMBS
USA
33.79%
Other
66.21%
BSSX
USA
35.24%
Other
64.76%
Sectors
SMBS
Industrials
33.23%
Other
66.77%
BSSX
Municipal
35.24%
Other
64.76%
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Diversification
SMBS
Total weight of top 15 holdings out of 15
5.8%
BSSX
Total weight of top 15 holdings out of 15
5.6%
Top 15 holdings
Data as of August 31, 2026
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%
BSSX
California, 5.25% 1sep2053, USD
0.51%
County of Jefferson (AL), 5.25% 1oct2045, USD (2024)
0.45%
New York Dormitory Authority, 2% 1jul2033, USD
0.42%
Harris Cultural Education Facilities Finance Corp., 5% 1dec2033, USD (2026A)
0.40%
US64613CEG96
0.39%
US709225HB54
0.38%
Connecticut Health and Educational Facilities Authority, 5% 1jul2033, USD
0.38%
US64972JCD81
0.37%
US64613CEH79
0.35%
US472682ZN67
0.34%
US646140ES88
0.34%
US13063CC328
0.32%
US452153HU62
0.32%
California, 5% 1oct2042, USD
0.32%
US64972GE671
0.32%
Frequently asked questions about SMBS and BSSX
How have the SMBS and BSSX ETFs performed in 2026?
As of October 16, 2026, SMBS is down -1.53% year-to-date (YTD), while BSSX has lost -2.47%. That puts SMBS better performer ahead so far this year.
Which ETF is attracting more investor money: SMBS or BSSX?
Year-to-date, the SMBS ETF saw +$770M in flows, compared to +$43M for BSSX.
Which ETF is more volatile: SMBS or BSSX?
Over the past year, SMBS had a volatility of 4.35%, while BSSX experienced 3.41%.
Which ETF is bigger: SMBS or BSSX?
As of October 16, 2026, SMBS holds $6.29 B in assets under management (AUM), while BSSX manages $149.47 M.
What sectors do the SMBS and BSSX ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, BSSX focuses on Municipal.
What are the top holdings of the SMBS ETF and BSSX ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), US31427R6E50 and FR SD8469, 5.5% 1oct2054, USD (ABS). BSSX holds in its top three: California, 5.25% 1sep2053, USD, County of Jefferson (AL), 5.25% 1oct2045, USD (2024) and New York Dormitory Authority, 2% 1jul2033, USD.
Which ETF is more diversified: SMBS or BSSX?
SMBS holds 1965 securities with 5.8% of its assets in the top 15. BSSX has 1689 securities and a top 15 weight of 5.6%.
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