SPMBvsDFNMETF Comparison
ETF 1
SPMB
State Street State Street SPDR Portfolio Mortgage Backed Bond ETF
This fund is part of
MBS & ABS
-0.05%
VS
State Street State Street SPDR Portfolio Mortgage Backed Bond ETF (SPMB) belongs to the MBS & ABS segment. Dimensional National Municipal Bond ETF (DFNM) is part of the Municipal Bonds segment. SPMB's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, DFNM's top sector exposures are Municipal. SPMB is less expensive with a Total Expense Ratio (TER) of 0.04%, versus 0.18% for DFNM. SPMB is down -1.42% year-to-date (YTD) with +$655M in YTD flows. DFNM performs better with -0.83% YTD performance, and +$395M in YTD flows. Run a side-by-side ETF comparison of SPMB and DFNM 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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SPMB vs DFNM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPMB DFNM | -1.55%-1.68% | -2.41%-2.12% | -1.42%-0.83% | -0.55%+0.44% | +13.73%+8.21% | -0.90%n/a |
| Flows | SPMB DFNM | +$53M+$33M | +$236M+$146M | +$655M+$395M | +$936M+$652M | +$2.59B+$1.33B | +$3.74B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPMB DFNM | +4.82%+2.05% | +4.25%+1.65% | +5.94%+2.20% | +6.72%n/a |
| Max drawdown | SPMB DFNM | -2.90%-2.52% | -3.51%-2.52% | -5.40%-2.92% | -17.32%n/a |
| Max drawdown duration | SPMB DFNM | 78d70d | 198d70d | 318d183d | 1491dn/a |
Trading data
SPMB | DFNM | |
Last sale 9/16/2026 at 1:30 PM | $21.52 | $46.78 |
| Previous close 09/15/2026 | $21.55 | $46.77 |
| Consolidated volume 09/15/2026 | ||
| 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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DFNM
is actively managed and doesn’t replicate an indexSPMB | DFNM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/16/2026 at 1:30 PM
Live
Closed
SPMB | DFNM | |
|---|---|---|
| Last price | $21.52 | $46.78 |
| 1D performance | -0.14% | +0.02% |
| AuM | $7.02 B | $2.26 B |
| E/R | 0.04% | 0.18% |
Characteristics
SPMB | DFNM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | Dimensional |
| Benchmark | Bloomberg U.S. MBS Index | - |
| N° of holdings | 554 | 271 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 15, 2009 | November 15, 2021 |
| ESG | No | No |
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Exposure
Countries
SPMB
USA
32.64%
Other
67.36%
DFNM
USA
32.24%
Other
67.76%
Sectors
SPMB
Industrials
32.31%
Other
67.69%
DFNM
Municipal
32.24%
Other
67.76%
Diversification
SPMB
Total weight of top 15 holdings out of 15
9.28%
DFNM
Total weight of top 15 holdings out of 15
8.43%
Top 15 holdings
Data as of July 31, 2026
SPMB
US3142J6C840
1.16%
US01F0526800
0.86%
FN MA4547, 2% 1feb2052, USD (ABS)
0.78%
US3142J6BK85
0.76%
US01F0506844
0.70%
FR SD8212, 2.5% 1may2052, USD (ABS)
0.60%
US3132DWMY65
0.55%
G2 MB0424, 5.5% 20jun2055, USD (ABS)
0.54%
FN MA4701, 4.5% 1aug2052, USD (ABS)
0.51%
US01F0606834
0.50%
US21H0506806
0.49%
FN FA0608, 5.5% 1feb2055, USD (ABS)
0.49%
FN MA4465, 2% 1nov2051, USD (ABS)
0.47%
FN FS2040, 2% 1feb2052, USD (ABS)
0.44%
US3132DWKV45
0.43%
DFNM
County of Hudson, 4% 24feb2027, USD (2026)
0.82%
Revere, 4% 29jul2027, USD
0.73%
City of Somerville (MA), 4% 28may2027, USD
0.68%
Hoboken, 4% 8mar2027, USD (2026)
0.68%
US562333SJ48
0.60%
US594712ZC81
0.60%
Maryland, 5% 1jun2037, USD (2025)
0.50%
US650028F992
0.50%
New Mexico, 5% 1mar2027, USD (2026)
0.50%
US686507NU45
0.49%
US30382AMM17
0.49%
US59333FR362
0.47%
Charleston School District, 5% 6may2027, USD (2026A)
0.47%
Danbury, 4% 22feb2027, USD
0.45%
US190819JY92
0.45%
Frequently asked questions about SPMB and DFNM
How have the SPMB and DFNM ETFs performed in 2026?
As of September 15, 2026, SPMB is down -1.42% year-to-date (YTD), while DFNM has lost -0.83%. That puts DFNM better performer ahead so far this year.
Which ETF is attracting more investor money: SPMB or DFNM?
Year-to-date, the SPMB ETF saw +$655M in flows, compared to +$395M for DFNM.
Which ETF is more volatile: SPMB or DFNM?
Over the past year, SPMB had a volatility of 4.25%, while DFNM experienced 1.65%.
Which ETF is bigger: SPMB or DFNM?
As of September 15, 2026, SPMB holds $7.02 B in assets under management (AUM), while DFNM manages $2.26 B.
What sectors do the SPMB and DFNM ETFs invest in?
SPMB leans toward sectors like Industrials. Meanwhile, DFNM focuses on Municipal.
What are the top holdings of the SPMB ETF and DFNM ETF?
SPMB top holdings include US3142J6C840, US01F0526800 and FN MA4547, 2% 1feb2052, USD (ABS). DFNM holds in its top three: County of Hudson, 4% 24feb2027, USD (2026), Revere, 4% 29jul2027, USD and City of Somerville (MA), 4% 28may2027, USD.
Which ETF is more diversified: SPMB or DFNM?
SPMB holds 2713 securities with 9.28% of its assets in the top 15. DFNM has 1204 securities and a top 15 weight of 8.43%.
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