TAXFvsSMBSETF Comparison
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American Century Diversified Municipal Bond ETF (TAXF) belongs to the Municipal Bonds segment. Schwab Mortgage-Backed Securities ETF (SMBS) is part of the MBS & ABS segment. TAXF's top 1 sector exposures are Municipal. In contrast, SMBS's top sector exposures are Industrials, Finance and Government Agencies. TAXF is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.03% for SMBS. TAXF is down -1.87% year-to-date (YTD) with +$186M in YTD flows. SMBS performs better with -1.53% YTD performance, and +$770M in YTD flows. Run a side-by-side ETF comparison of TAXF and SMBS 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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TAXF vs SMBS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXF SMBS | -0.40%-0.22% | -3.76%-2.21% | -1.87%-1.53% | -1.18%-1.08% | +11.92%n/a | +1.98%n/a |
| Flows | TAXF SMBS | +$40M-$72M | +$63M+$35M | +$186M+$770M | +$219M+$1.08B | +$386M- | +$580M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXF SMBS | +5.54%+5.52% | +3.44%+4.35% | +3.93%n/a | +3.88%n/a |
| Max drawdown | TAXF SMBS | -6.26%-4.24% | -6.91%-5.12% | -6.91%n/a | -13.26%n/a |
| Max drawdown duration | TAXF SMBS | 92d52d | 103d229d | 103dn/a | 1001dn/a |
Trading data
TAXF | SMBS | |
Last sale 10/16/2026 at 1:30 PM | $47.83 | $24.29 |
| Previous close 10/15/2026 | $47.87 | $24.32 |
| 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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TAXF
is actively managed and doesn’t replicate an indexTAXF | SMBS | |
|---|---|---|
| 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
TAXF | SMBS | |
|---|---|---|
| Last price | $47.83 | $24.29 |
| 1D performance | -0.08% | -0.12% |
| AuM | $705.56 M | $6.29 B |
| E/R | 0.25% | 0.03% |
Characteristics
TAXF | SMBS | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | American Century Investments | Schwab ETFs |
| Benchmark | - | Bloomberg U.S. MBS Float Adjusted Index |
| N° of holdings | 244 | 430 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 10, 2018 | November 19, 2024 |
| ESG | No | No |
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Exposure
Countries
TAXF
USA
35.49%
Other
64.51%
SMBS
USA
33.79%
Other
66.21%
Sectors
TAXF
Municipal
35.49%
Other
64.51%
SMBS
Industrials
33.23%
Other
66.77%
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Diversification
TAXF
Total weight of top 15 holdings out of 15
8.47%
SMBS
Total weight of top 15 holdings out of 15
5.8%
Top 15 holdings
Data as of August 31, 2026
TAXF
US74442PN840
0.88%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.88%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.58%
US646080ZU81
0.57%
US452252RA98
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
US681725PH47
0.46%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.45%
US74439YBD22
0.44%
US292723AY90
0.41%
US880157EC24
0.40%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
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%
Frequently asked questions about TAXF and SMBS
How have the TAXF and SMBS ETFs performed in 2026?
As of October 16, 2026, TAXF is down -1.87% year-to-date (YTD), while SMBS has lost -1.53%. That puts SMBS better performer ahead so far this year.
Which ETF is attracting more investor money: TAXF or SMBS?
Year-to-date, the TAXF ETF saw +$186M in flows, compared to +$770M for SMBS.
Which ETF is more volatile: TAXF or SMBS?
Over the past year, TAXF had a volatility of 3.44%, while SMBS experienced 4.35%.
Which ETF is bigger: TAXF or SMBS?
As of October 16, 2026, TAXF holds $705.56 M in assets under management (AUM), while SMBS manages $6.29 B.
What sectors do the TAXF and SMBS ETFs invest in?
TAXF leans toward sectors like Municipal. Meanwhile, SMBS focuses on Industrials.
What are the top holdings of the TAXF ETF and SMBS ETF?
TAXF top holdings include US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A). SMBS holds in its top three: G2 MB0025, 5% 20nov2054, USD (ABS), US31427R6E50 and FR SD8469, 5.5% 1oct2054, USD (ABS).
Which ETF is more diversified: TAXF or SMBS?
TAXF holds 792 securities with 8.47% of its assets in the top 15. SMBS has 1965 securities and a top 15 weight of 5.8%.
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