SPMB — State Street SPDR Portfolio Mortgage Backed Bond ETF
Mortgage-Backed Ranked #282 of 458 tracked ETFs · Issued by State Street Investment Management
SPMB Price Performance — Growth of $10,000
Value of a $10,000 investment in SPMB over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
SPMB Drawdown
The "underwater" chart: SPMB's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in SPMB?
See what a lump sum in SPMB would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The State Street SPDR Portfolio Mortgage Backed Bond ETF (SPMB) is a Mortgage-Backed category fund managed by State Street Investment Management. With $7.07 billion in assets under management, the fund represents a significant position within its sector, which ETFValuer tracks as containing 4 ETFs. It currently holds an overall rank of #282 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 57.7 out of 100. The fund offers a low cost structure with an expense ratio of 0.04% while providing a dividend yield of 4.07%. A share price of $21.97 combined with the substantial asset base suggests established investor adoption relative to smaller peers. This data positions the fund as a mid-tier option in terms of ranking despite its large scale and competitive fee profile.
Recent performance data shows a mixed trajectory across various time horizons, starting with a 1-day return of +0.14% followed by a 1-week decline of -0.77%. The fund experienced further losses over the 1-month period at -1.43% and a 3-month return of -1.03%, indicating short-term downward pressure. The 6-month return of -0.41% and year-to-date figure of -0.01% suggest the fund has struggled to gain momentum in the current year. However, the longer-term outlook appears more positive with a 1-year return of +4.63% and a 3-year return of +12.94%. This pattern highlights a divergence where short-term results have been negative while the 3-year horizon reflects sustained growth. The trend indicates a recovery from recent dips to achieve positive annualized gains over the longer term.
The fund carries a Beta of 1.15, indicating it is slightly more volatile than the broader market benchmark. Despite this elevated beta, the volatility label is classified as Very Low, suggesting that price fluctuations have been contained relative to typical market movements. The Sharpe ratio of -0.09 implies that the risk-adjusted returns have been negative, meaning the fund has not adequately compensated investors for the risk taken during the measured period. A maximum drawdown of -7.32% reflects the largest peak-to-trough decline experienced by the fund. This combination of a high beta, negative Sharpe ratio, and moderate drawdown suggests the fund may experience sharper moves than the market in both directions while delivering suboptimal risk-adjusted performance.
AI-generated summary based on the data on this page.
SPMB Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | State Street Global Advisors | 7.49% | $517M |
| 2 | Freddie Mac | 0.92% | $64M |
| 3 | Freddie Mac | 0.89% | $61M |
| 4 | Fannie Mae | 0.83% | $57M |
| 5 | Freddie Mac | 0.64% | $44M |
| 6 | Government National Mortgage Association | 0.62% | $43M |
| 7 | Freddie Mac | 0.60% | $41M |
| 8 | UMBS, TBA | 0.60% | $41M |
| 9 | Fannie Mae | 0.54% | $37M |
| 10 | Government National Mortgage Association | 0.52% | $36M |
Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 13.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how SPMB's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With SPMB
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with SPMB's top 10 — MBB overlaps most, holding 4 of the same companies as SPMB's top 10 (6.2% of SPMB's assets).
| ETF | Name | Shared Companies | SPMB Weight | Examples |
|---|---|---|---|---|
| MBB | iShares MBS ETF | 4 | 6.2% | Government National Mortgage Association, Freddie Mac, UMBS, TBA… |
| SPAB | State Street SPDR Portfolio Aggregate Bond ETF | 2 | 8.1% | State Street Global Advisors, UMBS, TBA |
| SPDW | State Street SPDR Portfolio Developed World ex-US ETF | 1 | 7.5% | State Street Global Advisors |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 1 | 7.5% | State Street Global Advisors |
| JNK | State Street SPDR Bloomberg High Yield Bond ETF | 1 | 7.5% | State Street Global Advisors |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What SPMB's Fees Cost You
SPMB charges an expense ratio of 0.04% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
SPMB Dividend Income Estimator
SPMB currently yields 4.07%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
SPMB Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 18.94% and average daily volume is 1.3M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $7.07B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: SPMB is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
SPMB Performance History
| Period | Return |
|---|---|
| 1-Day | +0.14% |
| 1-Week | -0.77% |
| 1-Month | -1.43% |
| 3-Month | -1.03% |
| 6-Month | -0.41% |
| YTD | -0.01% |
| 1-Year | +4.63% |
| 3-Year | +12.94% |
How SPMB Compares to Other Mortgage-Backed ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #242 | C |
MBB | iShares MBS ETF | +4.51% | 0.04% | $39.6B |
| #250 | C |
VMBS | Vanguard Mortgage-Backed Securities Index Fund ETF Shares | +4.80% | 0.03% | $17.3B |
| #282 | C |
SPMB | State Street SPDR Portfolio Mortgage Backed Bond ETF | +4.63% | 0.04% | $7.07B |
| #366 | C |
GNMA | iShares GNMA Bond ETF | +4.33% | 0.1% | $429M |