SMBS Fees and Costs — Schwab Mortgage-Backed Securities ETF
Data updated: 2026-07-24
The net expense ratio is 0.03%. There are no sales loads or redemption fees. Portfolio turnover was 20%.
SMBS Fees and Expenses
Annual operating expenses and sales charges of SMBS. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.03% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.03% |
| Fee waiver | — |
| Net expense ratio | 0.03% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
SMBS Costs Over Time
On $10,000 invested in SMBS, assuming 5% a year before costs, total costs come to $19 over 5 years, cutting the return by 0.03% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.03%) | $3 | $10 | $17 |
| Lost growth on money paid in costs | $0 | $0 | $2 |
| Total costs | $3 | $10 | $19 |
| Value after costs | $10,497 | $11,566 | $12,744 |
| Impact on return, per year | 0.03% | 0.03% | 0.03% |
SMBS Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending August 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.1B
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
SMBS Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $173.3M | 19.13% |
| Morgan Stanley & Co. LLC | $169.6M | 18.73% |
| J.P. Morgan Securities LLC | $105.5M | 11.65% |
| BofA Securities, Inc. | $92.8M | 10.25% |
| Wells Fargo Securities, LLC | $89.4M | 9.87% |
| Daiwa Capital Markets America Inc. | $75.3M | 8.31% |
| Barclays Capital Inc. | $67.3M | 7.43% |
| Nomura Securities International, Inc. | $46.5M | 5.13% |
| Santander Investment Securities Inc. | $44.6M | 4.93% |
| BNP Paribas Securities Corp. | $41.3M | 4.56% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.