Schwab Strategic Trust - Schwab Mortgage-Backed Securities ETF
Schwab Strategic Trust - Schwab Mortgage-Backed Securities ETF (AMEX: SMBS) is an exchange-traded fund listed on NYSE Arca, trading at $24.26 (about ₹2,326 a unit) as of 25 Sep 2026, 3:59 PM ET. It has an expense ratio of 0.03% and holds 4,294 securities. Indian residents can buy SMBS through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$24.10
Today's high
$24.28
52 week low
$24.10
52 week high
$26.12
SMBS opened at $24.19, closed previously at $24.14, and has traded between $24.10 and $26.12 over the past 52 weeks.
About
SMBS offers representative exposure to US mortgage pass-through securities. The index consists of fixed-rate, investment grade, agency mortgage-backed securities guaranteed by Ginnie Mae, Fannie Mae, and Freddie Mac. The index construction starts by initially grouping individual to-be-announced (TBA) deliverable mortgage-backed securities into pool aggregates based on program, coupon, and vintage. These pool aggregates must have a minimum of $1 billion currently outstanding and a weighted average maturity of at least 1 year to be included in the index. The index constituents are market value-weighted and reconstituted on the last business day of each month.
Key statistics
Expense ratio
0.03%
Assets (AUM)
$6.2B
Holdings
4,294
NAV
$24.30
Avg. volume
—
1-year price change
-5.40%
5-year price change
—
Price change excludes dividends.
Top 10 holdings
SMBS holds 4,294 securities in total. These 10 are 3.1% of the fund.
Where the money is invested
Countries
How to buy SMBS from India
Indian residents can buy SMBS units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search SMBS and buy
Find the fund by its ticker, SMBS, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in SMBS from India
Trading and taxes when buying SMBS from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation. Gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the SMBS price today?
Schwab Strategic Trust - Schwab Mortgage-Backed Securities ETF (SMBS) last traded at $24.26 on NYSE Arca, as of 25 Sep 2026, 3:59 PM ET. That is ₹2,326 a unit at the 26 Sep 2026 USD/INR rate.
When does SMBS trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is SMBS, and what does it cost to hold?
Schwab Strategic Trust - Schwab Mortgage-Backed Securities ETF manages about $6.2B. Its expense ratio is 0.03% a year, deducted inside the fund. It launched in 2024.
What are SMBS's largest holdings?
The top three are GNMA2 30YR 5.00% 11/20/2054 (BBG01NZQMR80) (0.5%), SSC GOVERNMENT MM GVMXX (0.4%) and FHLMC 30YR UMBS SUPER 5.50% 10/01/2054 (BBG01NYFN109) (0.3%). SMBS's 10 largest positions make up 3.1% of the fund.
Does SMBS pay dividends?
Yes. SMBS is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India.
How are gains on SMBS taxed in India?
Units held for more than 24 months are long-term and taxed at 12.5% without indexation; units held for 24 months or less are taxed at your income-tax slab rate. The gain is worked out in rupees, so the currency move counts.
Can I buy fractional units of SMBS?
Yes. You can buy SMBS by amount rather than by whole unit, and there is no minimum trade size.
How has SMBS performed?
SMBS' price is down 5.4% over the past year. These figures are price change only and exclude dividends; past performance does not guarantee future returns.