Schwab Strategic Trust - Schwab Mortgage-Backed Securities ETF
SMBS
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- Schwab Strategic Trust—Schwab Mortgage-Backed Securities ETF (NYSE Arca: SMBS) is an exchange-traded fund that seeks to provide investment results corresponding, before fees and expenses, to the Bloomberg U.S. MBS Float Adjusted Total Return Index. Managed by Charles Schwab Investment Management, Inc., the fund invests primarily in U.S. dollar-denominated, investment-grade, fixed-rate agency mortgage-backed securities issued or guaranteed by the Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac); mortgage pass-through certificates; pooled residential mortgage securities; and ancillary cash and money-market instruments. The fund uses representative sampling to pursue its index-tracking objective and offers diversified exposure to the U.S. agency mortgage-backed securities market through a single listed security. SMBS is designed for investors seeking fixed-income exposure, income distributions and broad access to government-related mortgage securities; it is domiciled in the United States and trades on NYSE Arca. The fund is a series of Schwab Strategic Trust, was established on November 19, 2024, and is advised and administered by Charles Schwab Investment Management, Inc., a Charles Schwab Corporation affiliate headquartered in Westlake, Texas. Since its 2024 launch, SMBS represents Schwab’s expansion of its low-cost fixed-income ETF range, offering a 0.03% expense ratio; as of mid-2026, it has grown to approximately $6.4 billion in assets and holds a broad portfolio of agency MBS securities.