Vanguard Mortgage-Backed Securities ETF (VMBS)

Market Price (5/20/2026): $46.09

Vanguard Mortgage-Backed Securities ETF (VMBS)

Market Price (5/20/2026): $46.09

Asset Allocation with VMBS

	ETF	1D	1W	1M	YTD
Equity	SPY	-0.7%	-0.6%	3.5%	7.9%
Bond	VMBS	-0.5%	-1.2%	-2.0%	-0.7%
Gold	GLD	-1.7%	-4.9%	-6.9%	3.8%
Commodity	DBC	0.7%	-0.3%	10.3%	41.4%
Real Estate	VNQ	0.3%	-1.5%	-1.8%	8.8%
Bitcoin	BTCUSD	0.1%	-4.2%	1.6%	-11.9%
Cash	GOVT	-0.3%	-0.9%	-2.1%	-1.4%

	ETF	Return	Volatility	Sharpe
Equity	SPY	15.3%	15.2%	83.3%
Bond	VMBS	1.3%	5.1%	-26.6%
Gold	GLD	13.0%	15.0%	67.8%
Commodity	DBC	8.4%	16.8%	42.1%
Real Estate	VNQ	5.1%	17.8%	19.3%
Bitcoin	BTCUSD	67.2%	76.7%	101.0%
Cash	GOVT	0.5%	5.0%	-43.4%

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	Inflation Shock	Covid Pandemic	2018 Correction
Equity	SPY	-23.0%	-30.4%	-19.3%
Bond	VMBS	-13.6%	-2.2%	1.7%
Gold	GLD	-7.7%	-6.3%	5.0%
Commodity	DBC	20.5%	-23.7%	-17.5%
Real Estate	VNQ	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	-56.0%	-33.5%	-37.4%
Cash	GOVT	-12.4%	4.4%	1.6%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

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Price Chart

ETF Price
Price/Gold

Top 20 Holdings for VMBS

Total Weights
Top 5: 8.7% | Top 10: 9.9% | Top 20: 11.8%

	Holding	Weight
CMT001142	MKTLIQ 12/31/2049	7.49%
36225AWL0	Synthetic Cash - TMS USD	0.30%
01F052649	Fannie Mae or Freddie Mac 5.50% 04/13/2026	0.32%
3618N56H7	Ginnie Mae II Pool 5.00% 01/20/2056	0.30%
3618N6BE6	Ginnie Mae II Pool 5.00% 02/20/2056	0.27%
3132E0TL6	Freddie Mac Pool 2.00% 02/01/2052	0.26%
3618N5A33	Ginnie Mae II Pool 5.00% 11/20/2054	0.25%
3132DWBP7	Freddie Mac Pool 2.00% 05/01/2051	0.25%
3142J6B28	Freddie Mac Pool 5.50% 10/01/2055	0.24%
3142J6C84	Freddie Mac Pool 5.00% 02/01/2056	0.23%
3132DWA52	Freddie Mac Pool 2.00% 02/01/2051	0.22%
31418DYX4	Fannie Mae Pool 2.00% 05/01/2051	0.22%
36179XHY5	Ginnie Mae II Pool 4.50% 10/20/2052	0.21%
3618N5VS5	Ginnie Mae II Pool 6.00% 09/20/2055	0.21%
36179WDQ8	Ginnie Mae II Pool 2.00% 04/20/2051	0.20%
3618N5TN9	Ginnie Mae II Pool 5.50% 08/20/2055	0.20%
3132DWAF0	Freddie Mac Pool 2.00% 11/01/2050	0.20%
01F020653	Fannie Mae or Freddie Mac 2.00% 05/13/2026	0.20%
36179V4U1	Ginnie Mae II Pool 2.00% 01/20/2051	0.19%

Performance for VMBS Top Holdings

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Guidance Updates for VMBS Top Holdings

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Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
VMBS Return	-1%	-12%	5%	2%	8%	-0%	1%
Peers Return	-1%	-12%	5%	3%	8%	-0%	1%
S&P 500 Return	27%	-19%	24%	23%	16%	8%	97%
Monthly Win Rates [3]
VMBS Win Rate	25%	25%	42%	58%	75%	60%
Peers Win Rate	33%	25%	42%	63%	78%	60%
S&P 500 Win Rate	75%	42%	67%	75%	67%	60%
Max Drawdowns [4]
VMBS Max Drawdown	-2%	-16%	-9%	-4%	-3%	-3%
Peers Max Drawdown	-2%	-16%	-9%	-4%	-3%	-3%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: MBB, SPMB, MBS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/19/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
VMBS	0.32	0.02	-0.42
Bond Top Results (3Y)
USHY	0.99	0.86	0.14
SHYG	0.96	0.83	0.25
JNK	1.02	0.77	0.06
HYG	0.87	0.75	0.07
MBS	0.46	0.54	0.54

Results as of 4302026.

Event	VMBS	S&P 500
2022 Inflation Shock & Fed Tightening
% Loss	-15.7%	-24.5%
% Gain to Breakeven	18.7%	32.4%
Time to Breakeven	1042 days	427 days

Compare to MBB, SPMB, MBS

In The Past

Vanguard Mortgage-Backed Securities ETF's stock fell -0.2% during the 2025 US Tariff Shock. Such a loss loss requires a 0.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event

Compare to MBB, SPMB, MBS

In The Past

Vanguard Mortgage-Backed Securities ETF's stock fell -0.2% during the 2025 US Tariff Shock. Such a loss loss requires a 0.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

VMBS Dip Buy History

VMBS had 3 events since 11/23/2009 where the dip threshold of -5.0% within 60 days was triggered

8% median peak return within 1 year of dip event
128 days is the median time to peak return after a dip event
-1.7% median max drawdown within 1 year of dip event

60 Day Dip			VMBS Subsequent Performance
Date	VMBS	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			1%	8%	-2%	128
10062023	-6%	-4%	12%	14%	-2%	346
9262022	-6%	-3%	1%	8%	-2%	128
3222022	-5%	-4%	-4%	0%	-12%	1

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 5/19/2026

VMBS had 1 events since 11/23/2009 where the dip threshold of -10% within 90 days was triggered

7.2% median peak return within 1 year of dip event
48 days is the median time to peak return after a dip event
-4.8% median max drawdown within 1 year of dip event

90 Day Dip			VMBS Subsequent Performance
Date	VMBS	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			3%	7%	-5%	48
6142022	-10%	-16%	3%	7%	-5%	48

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 5/19/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
IWO	iShares Russell 2000 Growth ETF	-5.6%	353.23	5192026	374.14	5062026	13
IEMG	iShares Core MSCI Emerging Markets ETF	-5.4%	78.53	5192026	83.01	5102026	9
EEM	iShares MSCI Emerging Markets ETF	-5.4%	64.26	5192026	67.94	5102026	9
SCHE	Schwab Emerging Markets Equity ETF	-5.0%	35.08	5192026	36.94	5062026	13
NOBL	ProShares S&P 500 Dividend Aristocrats ETF	-6.7%	106.43	5192026	114.03	3012026	79
JEPI	JPMorgan Equity Premium Income ETF	-5.1%	56.08	5192026	59.09	3012026	79
ARKK	ARK Innovation ETF	-11.3%	73.84	5192026	83.21	1132026	126
URA	Global X Uranium ETF	-23.6%	47.20	5192026	61.81	1282026	111
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-6.6%	38.89	5192026	41.63	5132026	6
ROBO	ROBO Global Robotics & Automation Index ETF	-5.4%	82.51	5192026	87.26	5132026	6
LIT	Global X Lithium & Battery Tech ETF	-10.7%	81.78	5192026	91.62	5112026	8
ICLN	iShares Global Clean Energy ETF	-5.2%	20.99	5192026	22.13	5142026	5
CGBL	Capital Group Core Balanced ETF	-6.2%	34.41	5192026	36.67	2252026	83
XLF	State Street Financial Select Sector SPDR ETF	-8.9%	51.10	5192026	56.11	1062026	133
XLV	State Street Health Care Select Sector SPDR ETF	-7.7%	147.32	5192026	159.54	3012026	79
XLI	State Street Industrial Select Sector SPDR ETF	-5.4%	168.74	5192026	178.40	3022026	78
XLY	State Street Consumer Discretionary Select Sector SPDR ETF	-7.4%	115.03	5192026	124.27	1122026	127
XLU	State Street Utilities Select Sector SPDR ETF	-6.5%	44.34	5192026	47.40	3012026	79
XLB	State Street Materials Select Sector SPDR ETF	-8.1%	49.04	5192026	53.38	2112026	97
SMH	VanEck Semiconductor ETF	-5.9%	543.96	5192026	578.34	5142026	5
SOXX	iShares Semiconductor ETF	-6.8%	496.74	5192026	532.76	5112026	8
IBB	iShares Biotechnology ETF	-7.5%	164.19	5192026	177.51	1222026	117
XBI	State Street SPDR S&P Biotech ETF	-8.6%	126.79	5192026	138.67	4192026	30
ITA	iShares U.S. Aerospace & Defense ETF	-12.8%	218.32	5192026	250.42	3022026	78
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-5.1%	178.56	5192026	188.18	3292026	51
BWX	State Street SPDR Bloomberg International Treasury Bond ETF	-5.4%	21.74	5192026	22.99	2162026	92
TLT	iShares 20+ Year Treasury Bond ETF	-7.9%	83.02	5192026	90.16	3012026	79
VGLT	Vanguard Long-Term Treasury ETF	-7.0%	53.19	5192026	57.20	3012026	79
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-7.4%	25.27	5192026	27.28	3012026	79
TLH	iShares 10-20 Year Treasury Bond ETF	-6.8%	97.13	5192026	104.25	3012026	79
EDV	Vanguard World Funds Extended Duration ETF	-11.1%	60.75	5192026	68.33	3012026	79
GSG	iShares GSCI Commodity	-5.8%	30.01	5192026	31.85	3182026	62
GLD	SPDR Gold Trust	-17.0%	411.50	5192026	495.90	1292026	110
IAU	iShares Gold Trust	-17.0%	84.32	5192026	101.57	1292026	110
GLDM	SPDR Gold MiniShares Trust	-16.9%	88.70	5192026	106.77	1292026	110
SGOL	ETFS Physical Swiss Gold Shares	-13.1%	44.66	5192026	51.41	1292026	110
BAR	Direxion Daily Gold Bull 3X Shares	-16.6%	44.34	5192026	53.16	1292026	110
SLV	iShares Silver Trust	-36.6%	66.90	5192026	105.60	1282026	111
SIVR	ETFS Physical Silver Shares Trust ETF	-24.8%	83.39	5192026	110.87	1282026	111
PPLT	ETFS Physical Platinum Shares	-29.3%	17.84	5192026	25.23	1252026	114
CPER	United States Copper Index Fund ETV	-13.9%	33.33	5192026	38.71	1292026	110
PALL	ETFS Physical Palladium Shares	-34.0%	24.55	5192026	37.18	1282026	111
UNG	United States Natural Gas Fund LP	-29.6%	11.90	5192026	16.90	2012026	107
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	5192026	60.13	5042026	15
IBIT	iShares Bitcoin Trust ETF	-21.5%	43.50	5192026	55.44	1142026	125
FBTC	Fidelity Wise Origin Bitcoin Fund	-21.5%	66.82	5192026	85.12	1142026	125
GBTC	Grayscale Bitcoin Trust ETF	-19.0%	61.84	5192026	76.31	1142026	125
ETHA	iShares Ethereum Trust ETF	-37.7%	15.93	5192026	25.59	1142026	125

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Quarterly asset allocation considerations

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About VMBS

Holdings Count: 344
Expense Ratio: 0.03%
Inception Date: 2009-11-19

Vanguard Mortgage-Backed Securities ETF
Seeks to provide a moderate and sustainable level of current income. Invests primarily in U.S. agency mortgage-backed pass-through securities issued by Ginnie Mae (GNMA), Fannie Mae (FNMA), and Freddie Mac (FHLMC). Moderate interest rate risk, with a dollar-weighted average maturity of 3 to 10 years.
Asset Class: Government Bond | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
MOVE	Corvex	1.5	20.4%	262.8%
FBYD	Falcons Beyond Global	0.6	19.1%	-11.6%
ALAB	Astera Labs	41.4	13.3%	46.8%
AGYS	Agilysys	2.2	12.5%	-33.6%
LPTH	LightPath Technologies	0.7	11.6%	28.5%
RLMD	Relmada Therapeutics	0.5	10.9%	45.5%
VITL	Vital Farms	0.4	10.7%	-71.3%
RXO	RXO	3.6	10.6%	67.2%
KELYB	Kelly Services	0.6	9.9%	102.4%
CLSK	Cleanspark	4.1	9.3%	45.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
GTN-A	Gray Media	0.8	-21.5%	-30.6%
GLOO	Gloo	0.4	-18.2%	-12.1%
FMCC	Federal Home Loan Mortgage	20.1	-16.1%	-38.6%
FNMA	Federal National Mortgage Association...	41.4	-14.5%	-34.3%
KOPN	Kopin	0.8	-11.5%	86.8%
BLBD	Blue Bird	2.1	-11.1%	37.6%
WRBY	Warby Parker	3.1	-11.0%	17.1%
TRNS	Transcat	0.6	-10.4%	22.8%
FRMI	Fermi	3.6	-10.4%	-26.6%
UEC	Uranium Energy	5.8	-9.8%	2.0%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
MOVE	Corvex	1.5	47.1%	262.8%
SLS	SELLAS Life Sciences	1.1	45.4%	101.3%
SEDG	SolarEdge Technologies	3.3	34.9%	89.0%
SG	Sweetgreen	1.0	32.6%	27.7%
RAMP	LiveRamp	2.4	31.4%	28.3%
STUB	Stubhub	3.4	30.3%	-29.5%
VOYG	Voyager Technologies	2.2	28.7%	43.7%
SATL	Satellogic	1.3	27.9%	416.6%
PCT	PureCycle Technologies	2.2	25.9%	43.1%
ENPH	Enphase Energy	6.1	24.8%	45.9%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
IDR	Idaho Strategic Resources	0.5	-33.7%	-15.2%
DSGN	Design Therapeutics	0.6	-33.6%	11.8%
LMRI	Lumexa Imaging	0.7	-33.3%	-62.2%
BTGO	BitGo	0.9	-31.1%	-55.7%
OPTU	Optimum Communications	0.3	-29.2%	-59.2%
UAMY	United States Antimony	1.0	-29.1%	48.2%
SGML	Sigma Lithium	1.7	-28.4%	13.3%
CRVS	Corvus Pharmaceuticals	1.0	-28.0%	49.4%
LWLG	Lightwave Logic	1.6	-27.2%	257.7%
DOCS	Doximity	3.6	-27.2%	-56.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
MXL	MaxLinear	8.3	199.0%	444.2%
WOLF	Wolfspeed	1.6	123.4%	237.9%
BAND	Bandwidth	1.7	123.3%	248.7%
FCEL	FuelCell Energy	0.8	100.7%	137.5%
INOD	Innodata	2.8	87.9%	73.1%
VPG	Vishay Precision	1.3	84.3%	154.4%
PCT	PureCycle Technologies	2.2	77.1%	43.1%
XMTR	Xometry	4.5	75.1%	46.5%
INTC	Intel	563.2	68.6%	200.3%
DOCN	DigitalOcean	13.8	67.5%	211.8%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
CAR	Avis Budget	5.3	-75.2%	17.7%
EMBC	Embecta	0.2	-69.8%	-75.2%
FWRD	Forward Air	0.3	-64.0%	-66.8%
OPTU	Optimum Communications	0.3	-59.9%	-59.2%
CABO	Cable One	0.3	-59.1%	-57.9%
TRDA	Entrada Therapeutics	0.2	-58.3%	-45.0%
PSIX	Power Solutions International	0.8	-53.7%	-36.4%
ERAS	Erasca	2.9	-52.5%	177.4%
BETR	Better Home & Finance	0.4	-46.8%	-22.5%
BRBR	BellRing Brands	1.1	-46.1%	-66.7%

Short Interest

Short Interest: As Of Date	4302026
Short Interest: Shares Quantity	1.0 Mil
Short Interest: % Change Since 4152026	-65.4%
Average Daily Volume	1.4 Mil
Days-to-Cover Short Interest	1

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Vanguard Mortgage-Backed Securities ETF (VMBS)

Market Price (5/20/2026): $46.09

Vanguard Mortgage-Backed Securities ETF (VMBS)

Market Price (5/20/2026): $46.09

Asset Allocation with VMBS

Price Chart

Valuation & Yield

Top 20 Holdings for VMBS

Performance for VMBS Top Holdings

Guidance Updates for VMBS Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

VMBS Dip Buy History

Current Dip Buy Opportunities Across ETFs

Set Alerts and Notifications

Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About VMBS

Latest Trefis Analyses

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

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Wealth Management

Short Interest

Returns Analyses

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