SMBSvsMMCAETF Comparison
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Schwab Mortgage-Backed Securities ETF (SMBS) belongs to the MBS & ABS segment. NYLI MacKay California Muni Intermediate ETF (MMCA) is part of the Municipal Bonds segment. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, MMCA's top sector exposures are Municipal. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.7% for MMCA. SMBS is down -1.53% year-to-date (YTD) with +$770M in YTD flows. MMCA performs worse with -2.54% YTD performance, and +$33M in YTD flows. Run a side-by-side ETF comparison of SMBS and MMCA 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 MMCA 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 MMCA | -0.22%-0.54% | -2.21%-3.25% | -1.53%-2.54% | -1.08%-1.81% | n/a+11.12% | n/an/a |
| Flows | SMBS MMCA | -$72M+$9M | +$35M+$11M | +$770M+$33M | +$1.08B+$43M | -+$67M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS MMCA | +5.52%+4.73% | +4.35%+2.98% | n/a+3.12% | n/an/a |
| Max drawdown | SMBS MMCA | -4.24%-5.42% | -5.12%-6.73% | n/a-6.73% | n/an/a |
| Max drawdown duration | SMBS MMCA | 52d64d | 229d229d | n/a229d | n/an/a |
Trading data
SMBS | MMCA | |
Last sale 10/16/2026 at 1:30 PM | $24.29 | $20.81 |
| Previous close 10/15/2026 | $24.32 | $20.78 |
| 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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MMCA
is actively managed and doesn’t replicate an indexSMBS | MMCA | |
|---|---|---|
| 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 | MMCA | |
|---|---|---|
| Last price | $24.29 | $20.81 |
| 1D performance | -0.12% | +0.14% |
| AuM | $6.29 B | $97.66 M |
| E/R | 0.03% | 0.7% |
Characteristics
SMBS | MMCA | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Schwab ETFs | New York Life Investments |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | - |
| N° of holdings | 430 | 33 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | December 22, 2021 |
| ESG | No | No |
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Exposure
Countries
SMBS
USA
33.79%
Other
66.21%
MMCA
USA
31.29%
Other
68.71%
Sectors
SMBS
Industrials
33.23%
Other
66.77%
MMCA
Municipal
31.29%
Other
68.71%
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Diversification
SMBS
Total weight of top 15 holdings out of 15
5.8%
MMCA
Total weight of top 15 holdings out of 15
26.09%
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%
MMCA
California Community Choice Financing Authority, 5% 1oct2034, USD (2026G)
2.63%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
2.22%
US13013JCM62
2.20%
California Public Works Board, 5% 1sep2035, USD (2026)
2.06%
US120827ES50
2.00%
US13077DYV80
1.80%
US544446BN68
1.72%
San Jose (CA), 3.05% 1may2066, USD (2026A)
1.57%
California Infrastructure and Economic Development Bank, 3.25% 1jun2033, USD (2026)
1.55%
Puerto Rico, 4% 1jul2037, USD
1.52%
Foothill/Eastern Transportation Corridor Agency, 0% 15jan2035, USD (2015A, 7270D)
1.49%
California, 5% 1sep2039, USD
1.41%
US13032UWT14
1.33%
US845389PU30
1.30%
US13050WAL54
1.28%
Frequently asked questions about SMBS and MMCA
How have the SMBS and MMCA ETFs performed in 2026?
As of October 16, 2026, SMBS is down -1.53% year-to-date (YTD), while MMCA has lost -2.54%. That puts SMBS better performer ahead so far this year.
Which ETF is attracting more investor money: SMBS or MMCA?
Year-to-date, the SMBS ETF saw +$770M in flows, compared to +$33M for MMCA.
Which ETF is more volatile: SMBS or MMCA?
Over the past year, SMBS had a volatility of 4.35%, while MMCA experienced 2.98%.
Which ETF is bigger: SMBS or MMCA?
As of October 16, 2026, SMBS holds $6.29 B in assets under management (AUM), while MMCA manages $97.66 M.
What sectors do the SMBS and MMCA ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, MMCA focuses on Municipal.
What are the top holdings of the SMBS ETF and MMCA ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), US31427R6E50 and FR SD8469, 5.5% 1oct2054, USD (ABS). MMCA holds in its top three: California Community Choice Financing Authority, 5% 1oct2034, USD (2026G), California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C) and US13013JCM62.
Which ETF is more diversified: SMBS or MMCA?
SMBS holds 1965 securities with 5.8% of its assets in the top 15. MMCA has 120 securities and a top 15 weight of 26.09%.
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