SMBSvsFLMBETF Comparison
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Schwab Mortgage-Backed Securities ETF (SMBS) belongs to the MBS & ABS segment. Franklin Municipal Green Bond ETF (FLMB) is part of the Green Bonds segment. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, FLMB's top sector exposures are Municipal. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.3% for FLMB. SMBS is down -0.06% year-to-date (YTD) with +$891M in YTD flows. FLMB performs worse with -2.54% YTD performance, and -$20M in YTD flows. Run a side-by-side ETF comparison of SMBS and FLMB 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 FLMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMBS FLMB | -0.11%-1.30% | -0.85%-3.40% | -0.06%-2.54% | +2.96%+1.81% | n/a+7.21% | n/a-6.90% |
| Flows | SMBS FLMB | +$120M-$4M | +$287M-$10M | +$891M-$20M | +$1.28B-$19M | --$38M | --$42M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS FLMB | +4.44%+3.81% | +3.94%+3.36% | n/a+4.71% | n/a+4.66% |
| Max drawdown | SMBS FLMB | -1.75%-4.24% | -2.67%-4.82% | n/a-6.80% | n/a-19.53% |
| Max drawdown duration | SMBS FLMB | 64d63d | 184d184d | n/a282d | n/a1806d |
Trading data
SMBS | FLMB | |
Last sale 9/2/2026 at 1:30 PM | $24.79 | $23.05 |
| Previous close 09/01/2026 | $24.78 | $23.00 |
| Consolidated volume 09/01/2026 | ||
| 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 indexSMBS | FLMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
SMBS | FLMB | |
|---|---|---|
| Last price | $24.79 | $23.05 |
| 1D performance | +0.06% | +0.22% |
| AuM | $6.53 B | $70.32 M |
| E/R | 0.03% | 0.3% |
Characteristics
SMBS | FLMB | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Schwab ETFs | Franklin Templeton |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | - |
| N° of holdings | 443 | 27 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | August 31, 2017 |
| ESG | No | Yes |
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Exposure
Countries
SMBS
USA
34%
Other
66%
FLMB
USA
35.22%
Other
64.78%
Sectors
SMBS
Industrials
33.45%
Other
66.55%
FLMB
Municipal
35.22%
Other
64.78%
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Diversification
SMBS
Total weight of top 15 holdings out of 15
5.64%
FLMB
Total weight of top 15 holdings out of 15
50.44%
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%
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%
Frequently asked questions about SMBS and FLMB
How have the SMBS and FLMB ETFs performed in 2026?
As of September 1, 2026, SMBS is down -0.06% year-to-date (YTD), while FLMB has lost -2.54%. That puts SMBS better performer ahead so far this year.
Which ETF is attracting more investor money: SMBS or FLMB?
Year-to-date, the SMBS ETF saw +$891M in flows, compared to -$20M for FLMB.
Which ETF is more volatile: SMBS or FLMB?
Over the past year, SMBS had a volatility of 3.94%, while FLMB experienced 3.36%.
Which ETF is bigger: SMBS or FLMB?
As of September 1, 2026, SMBS holds $6.53 B in assets under management (AUM), while FLMB manages $70.32 M.
What sectors do the SMBS and FLMB ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, FLMB focuses on Municipal.
What are the top holdings of the SMBS ETF and FLMB ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), FR SD8469, 5.5% 1oct2054, USD (ABS) and US31418DYX47. FLMB holds in its top three: US13013JDB98, US13049YFL02 and US13013JCM62.
Which ETF is more diversified: SMBS or FLMB?
SMBS holds 1999 securities with 5.64% of its assets in the top 15. FLMB has 78 securities and a top 15 weight of 50.44%.
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