SPDR Portfolio Mortgage Backed Bond (SPMB) Performance
SPMB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.1% since Dec 31, 2025
- 1 year
- −0.8% total return
- 5 years
- +0.1% a year
- 10 years
- +1.0% a year
- Since first price
- +2.2% a year since 2009
SPMB trailing returns vs AGG, TLT, SPY
| Period | SPMB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +0.7% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.8% | −1.8% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.0% | −3.9% | −1.5% | −3.8% | +7.8% |
| YTD | −1.1% | −3.9% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.8% | −4.8% | −1.1% | −6.9% | +14.4% |
| 3 years | +19.6%+6.1%/yr | +6.6% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +0.4%+0.1%/yr | −15.6% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +10.3%+1.0%/yr | −20.4% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +24.4%+1.5%/yr | −22.2% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionJan 27, 2009 | +46.0%+2.2%/yr | −16.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SPMB vs AGG
From Jan 27, 2009: SPMB grew to $14,601, AGG to $15,629.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SPMB returns by calendar year
13 of 16 full years positive. Best 2025 (+8.3%), worst 2022 (−12.1%). 2026 is year to date.
SPMB annual returns table
| Year | SPMB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.1% | −5.6% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.3% | −2.9% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.3% | −4.4% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.1% | −9.2% | +5.7% | +2.8% | +26.2% |
| 2022 | −12.1% | −16.2% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.5% | −2.3% | −1.8% | −4.6% | +28.7% |
| 2020 | +4.2% | −12.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +6.2% | −0.8% | +8.5% | +14.1% | +31.2% |
| 2018 | +1.0% | −2.5% | +0.1% | −1.6% | −4.6% |
| 2017 | +2.1% | −2.0% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.9% | −3.9% | +2.4% | +1.2% | +12.0% |
| 2015 | +1.7% | −2.0% | +0.5% | −1.8% | +1.2% |
| 2014 | +6.0% | −1.4% | +6.0% | +27.3% | +13.5% |
| 2013 | −1.8% | −4.1% | −2.0% | −13.4% | +32.3% |
| 2012 | +2.2% | −1.4% | +3.8% | +2.6% | +16.0% |
| 2011 | +7.6% | −1.6% | +7.7% | +34.0% | +1.9% |
| 2010 | +4.8% | −3.0% | +6.4% | +9.0% | +15.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SPMB largest drawdowns
Now 3.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 2, 2021 | −18.0% | Oct 19, 2023 | Jan 9, 2026 | 2.7 years | 4.9 years |
| Mar 6, 2020 | −12.6% | Mar 12, 2020 | Mar 30, 2020 | 6 days | 24 days |
| Feb 27, 2026 | −5.6% | Oct 5, 2026 | not yet | 7 months | 8 months so far |
| Nov 5, 2009 | −5.0% | Jan 4, 2010 | Jun 14, 2010 | 2 months | 7 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
SPMB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2009 |
|---|---|---|---|---|
| Annualized return | +4.4% | −0.5% | +0.7% | +2.0% |
| Volatility (annualized) | 6.5% | 7.3% | 5.4% | 4.4% |
| Sharpe ratio | 0.03 | -0.53 | -0.26 | 0.19 |
| Sortino ratio | 0.04 | -0.68 | -0.34 | 0.26 |
| Best month | +5.2% | +5.2% | +5.2% | +5.2% |
| Worst month | −3.5% | −5.2% | −5.2% | −5.2% |
| Best 12 months | +12.2% | +12.2% | +12.2% | +12.2% |
| Worst 12 months | −1.9% | −15.0% | −15.0% | −15.0% |
| Positive months | 67% | 52% | 55% | 63% |
| Beta vs S&P 500 | 0.25 | 0.28 | 0.14 | — |
| Correlation with S&P 500 | 0.48 | 0.60 | 0.40 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SPMB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 202 | −15.0% | +3.0% | +12.2% | 72% |
| 3-year (a year) | 178 | −5.9% | +2.2% | +6.0% | 80% |
| 5-year (a year) | 154 | −1.3% | +1.9% | +4.0% | 77% |
| 10-year (a year) | 94 | +0.2% | +1.3% | +3.2% | 100% |
Every holding period starting at a month-end since 2009. Returns for 3 years and longer are annualized.
SPMB performance overview
SPDR Portfolio Mortgage Backed Bond (SPMB) returned −0.8% over the past year and +1.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2009 it has returned +2.2% a year, turning $10,000 into about $14,601. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −18.0%, from Feb 2, 2021 to Oct 19, 2023, and it took 2.2 years to get back to the old high. SPMB finished 13 of its 16 full calendar years with a gain; the best year was 2025 (+8.3%) and the worst 2022 (−12.1%). Volatility has been 4.4% a year.
Related: SPMB chart, SPMB dividends, SPMB bond profile. See the SPMB overview for the latest quote and fund facts.
SPMB performance FAQ
What is the SPMB return over the past year?
SPMB returned −0.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.8%.
What is the average annual return of SPMB?
SPMB has returned +0.1% a year over 5 years, +1.0% a year over 10 years, +2.2% a year since January 27, 2009 (total return, distributions reinvested).
How much would $10,000 invested in SPMB be worth?
$10,000 invested in SPMB at its first recorded close on January 27, 2009 would be worth about $14,601 on October 23, 2026 with distributions reinvested.
What was the worst year for SPMB?
The worst calendar year was 2022, with a total return of −12.1%. The best was 2025 at +8.3%.
What is the biggest drawdown of SPMB?
The largest peak-to-trough decline was −18.0% between February 2, 2021 and October 19, 2023. It recovered to the old high on January 9, 2026, 2.2 years after the bottom.
How volatile is SPMB?
Over the past 3 years SPMB had an annualized volatility of 6.5% and a Sharpe ratio of 0.03 (excess return over 1–3 month T-bills per unit of risk).