GKAT vs. MBSF

Last updated Jun 5, 2026

GKAT (Scharf Global Opportunity ETF) and MBSF (Regan Floating Rate MBS ETF) are both exchange-traded funds - GKAT is a Global Equities fund managed by Scharf Investments, while MBSF is a Bank Loan fund actively managed by Regan. At a 0.08 correlation, their price movements are largely independent. GKAT charges 0.59%/yr vs 0.49%/yr for MBSF.

Performance

GKAT vs. MBSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Scharf Global Opportunity ETF (GKAT) and Regan Floating Rate MBS ETF (MBSF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GKAT achieves a 10.13% return, which is significantly higher than MBSF's 1.70% return.

GKAT

• 1D: 0.39%
• 1M: 4.18%
• YTD: 10.13%
• 6M: 13.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBSF

• 1D: 0.21%
• 1M: 0.11%
• YTD: 1.70%
• 6M: 2.56%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GKAT vs. MBSF - Yearly Performance Comparison

	2026 (YTD)	2025
GKAT Scharf Global Opportunity ETF	10.13%	6.04%
MBSF Regan Floating Rate MBS ETF	1.70%	2.41%

Correlation

The correlation between GKAT and MBSF is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 26, 2025	0.08

Return for Risk

GKAT vs. MBSF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MBSF

MBSF Risk / Return Rank: 74
MBSF Sharpe Ratio Rank: 58
MBSF Sortino Ratio Rank: 66
MBSF Omega Ratio Rank: 61
MBSF Calmar Ratio Rank: 94
MBSF Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GKAT vs. MBSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Scharf Global Opportunity ETF (GKAT) and Regan Floating Rate MBS ETF (MBSF). 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

	GKAT	MBSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.86	1.77	+0.10

Drawdowns

GKAT vs. MBSF - Drawdown Comparison

The maximum GKAT drawdown since its inception was -10.41%, which is greater than MBSF's maximum drawdown of -0.97%. Use the drawdown chart below to compare losses from any high point for GKAT and MBSF.

Drawdown Indicators

	GKAT	MBSF	Difference
Max Drawdown Largest peak-to-trough decline	-10.41%	-0.97%	-9.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.79%	—
Current Drawdown Current decline from peak	-0.59%	0.00%	-0.59%
Average Drawdown Average peak-to-trough decline	-2.06%	-0.23%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.28%	—

Volatility

Volatility by Period

	GKAT	MBSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	3.00%	+8.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	3.34%	+8.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.95%	3.34%	+8.61%

GKAT vs. MBSF - Expense Ratio Comparison

GKAT has a 0.59% expense ratio, which is higher than MBSF's 0.49% expense ratio.

Dividends

GKAT vs. MBSF - Dividend Comparison

GKAT's dividend yield for the trailing twelve months is around 0.44%, less than MBSF's 4.48% yield.

Position	TTM	2025	2024
GKAT Scharf Global Opportunity ETF	0.44%	0.24%	0.00%
MBSF Regan Floating Rate MBS ETF	4.48%	4.71%	4.14%

Frequently Asked Questions

Can I hold both GKAT and MBSF in my portfolio?

GKAT and MBSF have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GKAT or MBSF?

On fees, MBSF is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GKAT or MBSF?

MBSF is cheaper with a 0.49% expense ratio, compared with 0.59% for GKAT.

Which ETF pays a higher dividend yield, GKAT or MBSF?

MBSF has the higher dividend yield at 4.48%, compared with 0.44% for GKAT.

What is the main difference between GKAT and MBSF?

GKAT is categorized as Global Equities, while MBSF is Bank Loan. They also come from different issuers: Scharf Investments and Regan. Their fees differ too: 0.59% for GKAT and 0.49% for MBSF.