SMBSvsFECMETF Comparison
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Schwab Mortgage-Backed Securities ETF (SMBS) belongs to the MBS & ABS segment. First Eagle Core Municipal ETF (FECM) is part of the Municipal Bonds segment. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, FECM's top sector exposures are Municipal. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.25% for FECM. Run a side-by-side ETF comparison of SMBS and FECM 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 FECM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/28/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMBS FECM | -0.07%-0.25% | -0.35%n/a | +0.46%n/a | +3.16%n/a | n/an/a | n/an/a |
| Flows | SMBS FECM | +$113M- | +$277M- | +$869M- | +$1.26B- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS FECM | +4.38%n/a | +3.93%n/a | n/an/a | n/an/a |
| Max drawdown | SMBS FECM | -1.75%n/a | -2.67%n/a | n/an/a | n/an/a |
| Max drawdown duration | SMBS FECM | 60dn/a | 180dn/a | n/an/a | n/an/a |
Trading data
SMBS | FECM | |
Last sale 8/28/2026 at 1:30 PM | $25.00 | $24.75 |
| Previous close 08/27/2026 | $25.09 | $24.77 |
| Consolidated volume 08/27/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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FECM
is actively managed and doesn’t replicate an indexSMBS | FECM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 8/28/2026 at 1:30 PM
Live
Closed
SMBS | FECM | |
|---|---|---|
| Last price | $25.00 | $24.75 |
| 1D performance | -0.38% | -0.08% |
| AuM | $6.57 B | $15.44 M |
| E/R | 0.03% | 0.25% |
Characteristics
SMBS | FECM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Schwab ETFs | First Eagle Investments |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | - |
| N° of holdings | 443 | 48 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | July 1, 2026 |
| ESG | No | No |
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Exposure
Countries
SMBS
USA
34%
Other
66%
FECM
USA
33.69%
Other
66.31%
Sectors
SMBS
Industrials
33.45%
Other
66.55%
FECM
Municipal
33.69%
Other
66.31%
Diversification
SMBS
Total weight of top 15 holdings out of 15
5.64%
FECM
Total weight of top 15 holdings out of 15
31.69%
Top 15 holdings
Data as of July 31, 2026
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%
FECM
US4812C06707
6.49%
US932423XQ48
2.40%
US759831CZ11
2.16%
New York Dormitory Authority, 5% 15feb2037, USD (2016A)
1.99%
US20775DX645
1.96%
US45204F3W38
1.95%
US248866M693
1.93%
New Jersey Transportation Trust Fund Authority, 5% 15jun2045, USD
1.93%
US490229AR23
1.67%
US34073XKE75
1.67%
San Jose (CA), 5% 1mar2047, USD (2017A)
1.64%
US483270HS69
1.51%
New York Dormitory Authority, 3.25% 1jul2034, USD
1.49%
US71883MPY48
1.46%
Illinois Toll Highway Authority, 5% 1jan2041, USD
1.45%
Frequently asked questions about SMBS and FECM
Which ETF is bigger: SMBS or FECM?
As of August 28, 2026, SMBS holds $6.57 B in assets under management (AUM), while FECM manages $15.44 M.
What sectors do the SMBS and FECM ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, FECM focuses on Municipal.
What are the top holdings of the SMBS ETF and FECM ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), FR SD8469, 5.5% 1oct2054, USD (ABS) and US31418DYX47. FECM holds in its top three: US4812C06707, US932423XQ48 and US759831CZ11.
Which ETF is more diversified: SMBS or FECM?
SMBS holds 1999 securities with 5.64% of its assets in the top 15. FECM has 127 securities and a top 15 weight of 31.69%.
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