EVMO vs. MBBA

Last updated Jun 5, 2026

EVMO (Eaton Vance Mortgage Opportunities ETF) and MBBA (iShares Mortgage-Backed Securities Active ETF) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. EVMO charges 0.45%/yr vs 0.25%/yr for MBBA.

Performance

EVMO vs. MBBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Mortgage Opportunities ETF (EVMO) and iShares Mortgage-Backed Securities Active ETF (MBBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVMO

• 1D: 0.10%
• 1M: 0.18%
• YTD: 0.83%
• 6M: 1.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBBA

• 1D: -0.10%
• 1M: 0.34%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EVMO vs. MBBA - Yearly Performance Comparison

	2026 (YTD)
EVMO Eaton Vance Mortgage Opportunities ETF	0.55%
MBBA iShares Mortgage-Backed Securities Active ETF	0.54%

Correlation

The correlation between EVMO and MBBA is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 27, 2026	0.83

Return for Risk

EVMO vs. MBBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Mortgage Opportunities ETF (EVMO) and iShares Mortgage-Backed Securities Active ETF (MBBA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EVMO	MBBA	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	0.33	+1.46

Drawdowns

EVMO vs. MBBA - Drawdown Comparison

The maximum EVMO drawdown since its inception was -1.89%, smaller than the maximum MBBA drawdown of -2.83%. Use the drawdown chart below to compare losses from any high point for EVMO and MBBA.

Drawdown Indicators

	EVMO	MBBA	Difference
Max Drawdown Largest peak-to-trough decline	-1.89%	-2.83%	+0.94%
Current Drawdown Current decline from peak	-0.81%	-1.27%	+0.46%
Average Drawdown Average peak-to-trough decline	-0.39%	-1.12%	+0.73%

Volatility

Volatility by Period

	EVMO	MBBA	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.82%	4.64%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.82%	4.64%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.82%	4.64%	-1.82%

EVMO vs. MBBA - Expense Ratio Comparison

EVMO has a 0.45% expense ratio, which is higher than MBBA's 0.25% expense ratio.

Dividends

EVMO vs. MBBA - Dividend Comparison

EVMO's dividend yield for the trailing twelve months is around 4.07%, more than MBBA's 1.84% yield.

Position	TTM	2025
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%
MBBA iShares Mortgage-Backed Securities Active ETF	1.84%	0.00%

Frequently Asked Questions

Can I hold both EVMO and MBBA in my portfolio?

EVMO and MBBA have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EVMO or MBBA?

On fees, MBBA is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EVMO or MBBA?

MBBA is cheaper with a 0.25% expense ratio, compared with 0.45% for EVMO.

Which ETF pays a higher dividend yield, EVMO or MBBA?

EVMO has the higher dividend yield at 4.07%, compared with 1.84% for MBBA.

What is the main difference between EVMO and MBBA?

They also come from different issuers: Eaton Vance and iShares. Their fees differ too: 0.45% for EVMO and 0.25% for MBBA.