VMBSvsMBNDETF Comparison
VS
Vanguard Mortgage-Backed Securities ETF (VMBS) belongs to the MBS & ABS segment. State Street SPDR Nuveen Municipal Bond ETF (MBND) is part of the Municipal Bonds segment. VMBS's top 3 sector exposures are Industrials, Finance and Government Agencies. In contrast, MBND's top sector exposures are Municipal. VMBS is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.4% for MBND. VMBS is down -1.56% year-to-date (YTD) with +$1.65B in YTD flows. MBND performs better with -1.28% YTD performance, and -$1M in YTD flows. Run a side-by-side ETF comparison of VMBS and MBND 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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VMBS vs MBND performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/23/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | VMBS MBND | +0.90%+1.67% | -0.77%-0.80% | -1.56%-1.28% | -1.07%-0.94% | +19.19%+12.93% | +0.51%+1.48% |
| Flows | VMBS MBND | +$101M-$1M | +$687M-$1M | +$1.65B-$1M | +$1.62B-$1M | -$1.53B-$19M | +$2.95B-$16M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | VMBS MBND | +5.69%+4.93% | +4.39%+3.10% | +5.35%+3.66% | +6.51%+3.50% |
| Max drawdown | VMBS MBND | -4.22%-5.28% | -5.75%-6.30% | -5.75%-6.30% | -16.74%-13.12% |
| Max drawdown duration | VMBS MBND | 59d71d | 236d236d | 236d236d | 1398d1363d |
Trading data
VMBS | MBND | |
Last sale 10/23/2026 at 1:30 PM | $45.23 | $26.19 |
| Previous close 10/22/2026 | $45.30 | $26.13 |
| Consolidated volume 10/22/2026 | ||
| 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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MBND
is actively managed and doesn’t replicate an indexVMBS | MBND | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/23/2026 at 1:30 PM
Live
Closed
VMBS | MBND | |
|---|---|---|
| Last price | $45.23 | $26.19 |
| 1D performance | -0.15% | +0.23% |
| AuM | $15.87 B | $25.15 M |
| E/R | 0.03% | 0.4% |
Characteristics
VMBS | MBND | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | Vanguard | State Street Investment Management |
| Benchmark | Bloomberg U.S. MBS Float Adjusted Index | - |
| N° of holdings | 698 | 22 |
| Asset class | Bonds | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2009 | February 4, 2021 |
| ESG | No | No |
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Exposure
Countries
VMBS
USA
26.03%
Other
73.97%
MBND
USA
27.73%
Other
72.27%
Sectors
VMBS
Industrials
25.62%
Other
74.38%
MBND
Municipal
27.73%
Other
72.27%
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Diversification
VMBS
Total weight of top 15 holdings out of 15
3.67%
MBND
Total weight of top 15 holdings out of 15
36.73%
Top 15 holdings
Data as of August 31, 2026
VMBS
G2 MB0025, 5% 20nov2054, USD (ABS)
0.28%
US3618N56H72
0.28%
US3618N6K636
0.26%
US3618N6BE68
0.26%
US3140Y9B864
0.26%
G2 MB0024, 4.5% 20nov2054, USD (ABS)
0.25%
US21H0606A46
0.25%
US3132E0TL66
0.25%
US3142J6DY61
0.24%
US3618N6HU47
0.23%
FR SD8146, 2% 1may2051, USD (ABS)
0.23%
US3618N6FL65
0.23%
US01F0526982
0.22%
US3142J6C840
0.22%
FR RQ0056, 5.5% 1oct2055, USD (ABS)
0.21%
MBND
US040664NJ98
2.94%
US91756SAR40
2.84%
New Mexico, 4% 1aug2039, USD (2017A)
2.74%
US64971PKD68
2.72%
US797661G828
2.58%
Southeast Energy Authority, 5% 1nov2035, USD (2024A)
2.51%
US896032AK58
2.45%
US649451KJ96
2.41%
US56035DGB29
2.39%
California Community Choice Financing Authority, 5% 1sep2032, USD (2024E)
2.34%
US346843PW94
2.30%
Georgia Municipal Electric Authority, 5% 1jan2048, USD (2019B)
2.25%
US679111E426
2.17%
US677561KM32
2.08%
US594712ZR50
2.01%
Frequently asked questions about VMBS and MBND
How have the VMBS and MBND ETFs performed in 2026?
As of October 23, 2026, VMBS is down -1.56% year-to-date (YTD), while MBND has lost -1.28%. That puts MBND better performer ahead so far this year.
Which ETF is attracting more investor money: VMBS or MBND?
Year-to-date, the VMBS ETF saw +$1.65B in flows, compared to -$1M for MBND.
Which ETF is more volatile: VMBS or MBND?
Over the past year, VMBS had a volatility of 4.39%, while MBND experienced 3.1%.
Which ETF is bigger: VMBS or MBND?
As of October 23, 2026, VMBS holds $15.87 B in assets under management (AUM), while MBND manages $25.15 M.
What sectors do the VMBS and MBND ETFs invest in?
VMBS leans toward sectors like Industrials. Meanwhile, MBND focuses on Municipal.
What are the top holdings of the VMBS ETF and MBND ETF?
VMBS top holdings include G2 MB0025, 5% 20nov2054, USD (ABS), US3618N56H72 and US3618N6K636. MBND holds in its top three: US040664NJ98, US91756SAR40 and New Mexico, 4% 1aug2039, USD (2017A).
Which ETF is more diversified: VMBS or MBND?
VMBS holds 4834 securities with 3.67% of its assets in the top 15. MBND has 72 securities and a top 15 weight of 36.73%.
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