SMBSvsTAXEETF Comparison
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Schwab Mortgage-Backed Securities ETF (SMBS) belongs to the MBS & ABS segment. T. Rowe Price Intermediate Municipal Income ETF (TAXE) is part of the Municipal Bonds segment. SMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, TAXE's top sector exposures are Municipal. SMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.24% for TAXE. SMBS is up 0.06% year-to-date (YTD) with +$886M in YTD flows. TAXE performs better with 0.25% YTD performance, and +$97M in YTD flows. Run a side-by-side ETF comparison of SMBS and TAXE 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 TAXE performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/02/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMBS TAXE | +0.02%-0.43% | -0.74%-1.29% | +0.06%+0.25% | +3.09%+3.92% | n/an/a | n/an/a |
| Flows | SMBS TAXE | +$115M+$14M | +$282M+$43M | +$886M+$97M | +$1.28B+$118M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMBS TAXE | +4.45%+2.25% | +3.93%+2.09% | n/an/a | n/an/a |
| Max drawdown | SMBS TAXE | -1.75%-1.94% | -2.67%-2.39% | n/an/a | n/an/a |
| Max drawdown duration | SMBS TAXE | 65d57d | 185d122d | n/an/a | n/an/a |
Trading data
SMBS | TAXE | |
Last sale 9/3/2026 at 1:30 PM | $24.83 | $49.91 |
| Previous close 09/02/2026 | $24.79 | $49.94 |
| Consolidated volume 09/02/2026 | ||
| 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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TAXE
is actively managed and doesn’t replicate an indexSMBS | TAXE | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
SMBS | TAXE | |
|---|---|---|
| Last price | $24.83 | $49.91 |
| 1D performance | +0.16% | -0.05% |
| AuM | $6.54 B | $202.12 M |
| E/R | 0.03% | 0.24% |
Characteristics
SMBS | TAXE | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Schwab ETFs | T. Rowe Price |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | - |
| N° of holdings | 443 | 163 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2024 | July 10, 2024 |
| ESG | No | No |
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Exposure
Countries
SMBS
USA
34%
Other
66%
TAXE
USA
35.75%
Other
64.25%
Sectors
SMBS
Industrials
33.45%
Other
66.55%
TAXE
Municipal
35.75%
Other
64.25%
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Diversification
SMBS
Total weight of top 15 holdings out of 15
5.64%
TAXE
Total weight of top 15 holdings out of 15
12.17%
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%
TAXE
US45204FME24
1.90%
US46246K5E87
0.96%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.91%
Puerto Rico, 5.75% 1jul2031, USD
0.85%
US45506EQS53
0.83%
US249182LT15
0.81%
Denver, 5% 1dec2029, USD (2018A)
0.79%
Colorado, 6% 15dec2041, USD (2022)
0.72%
US899530AY53
0.72%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.70%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.62%
US64972JNL88
0.61%
US92812XXT44
0.60%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.59%
Black Belt Energy Gas District, 4% 1jun2051, USD (2021A)
0.58%
Frequently asked questions about SMBS and TAXE
How have the SMBS and TAXE ETFs performed in 2026?
As of September 2, 2026, SMBS is up 0.06% year-to-date (YTD), while TAXE has returned 0.25%. That puts TAXE better performer ahead so far this year.
Which ETF is attracting more investor money: SMBS or TAXE?
Year-to-date, the SMBS ETF saw +$886M in flows, compared to +$97M for TAXE.
Which ETF is more volatile: SMBS or TAXE?
Over the past year, SMBS had a volatility of 3.93%, while TAXE experienced 2.09%.
Which ETF is bigger: SMBS or TAXE?
As of September 2, 2026, SMBS holds $6.54 B in assets under management (AUM), while TAXE manages $202.12 M.
What sectors do the SMBS and TAXE ETFs invest in?
SMBS leans toward sectors like Industrials. Meanwhile, TAXE focuses on Municipal.
What are the top holdings of the SMBS ETF and TAXE ETF?
SMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), FR SD8469, 5.5% 1oct2054, USD (ABS) and US31418DYX47. TAXE holds in its top three: US45204FME24, US46246K5E87 and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1).
Which ETF is more diversified: SMBS or TAXE?
SMBS holds 1999 securities with 5.64% of its assets in the top 15. TAXE has 579 securities and a top 15 weight of 12.17%.
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