GSST vs. MBSD
GSST (Goldman Sachs Ultra Short Bond ETF) and MBSD (FlexShares Disciplined Duration MBS Index Fund) are both exchange-traded funds - GSST is a Ultrashort Bond fund actively managed by Goldman Sachs, while MBSD is a Mortgage Backed Securities fund tracking the ICE BofA Constrained Duration US Mortgage Backed Securities. GSST is actively managed, while MBSD is passively managed. Over the past 5 years, GSST returned 3.75%/yr vs 0.62%/yr for MBSD. At a 0.34 correlation, their price movements are largely independent. GSST charges 0.16%/yr vs 0.20%/yr for MBSD.
Performance
GSST vs. MBSD - Performance Comparison
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Returns By Period
In the year-to-date period, GSST achieves a 1.55% return, which is significantly higher than MBSD's 0.42% return.
GSST
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.55%
- 6M
- 1.88%
- 1Y
- 4.61%
- 3Y*
- 5.52%
- 5Y*
- 3.75%
- 10Y*
- —
MBSD
- 1D
- -0.22%
- 1M
- 0.16%
- YTD
- 0.42%
- 6M
- 0.52%
- 1Y
- 5.26%
- 3Y*
- 4.31%
- 5Y*
- 0.62%
- 10Y*
- 1.37%
GSST vs. MBSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 1.55% | 5.20% | 6.01% | 6.08% | 0.13% | 0.05% | 1.74% | 2.65% |
MBSD FlexShares Disciplined Duration MBS Index Fund | 0.42% | 7.12% | 2.30% | 4.46% | -9.49% | -1.40% | 5.43% | 3.96% |
Correlation
The correlation between GSST and MBSD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2019 | 0.34 |
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Return for Risk
GSST vs. MBSD — Risk / Return Rank
GSST
MBSD
GSST vs. MBSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Ultra Short Bond ETF (GSST) and FlexShares Disciplined Duration MBS Index Fund (MBSD). 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.
| GSST | MBSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.48 | ||
| Sortino ratioReturn per unit of downside risk | +14.36 | ||
| Omega ratioGain probability vs. loss probability | 3.94 | 1.27 | +2.67 |
| Calmar ratioReturn relative to maximum drawdown | 29.99 | 2.43 | +27.56 |
| Martin ratioReturn relative to average drawdown | 185.54 | 7.71 | +177.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GSST | MBSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 7.98 | 1.50 | +6.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 5.99 | 0.12 | +5.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.78 | 0.38 | +3.41 |
Drawdowns
GSST vs. MBSD - Drawdown Comparison
The maximum GSST drawdown since its inception was -3.51%, smaller than the maximum MBSD drawdown of -14.36%. Use the drawdown chart below to compare losses from any high point for GSST and MBSD.
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Drawdown Indicators
| GSST | MBSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.51% | -14.36% | +10.85% |
Max Drawdown (1Y)Largest decline over 1 year | -0.15% | -2.17% | +2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -0.25% | -4.68% | +4.43% |
Max Drawdown (5Y)Largest decline over 5 years | -1.19% | -14.10% | +12.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.36% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.19% | +1.19% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -2.81% | +2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.68% | -0.66% |
Volatility
GSST vs. MBSD - Volatility Comparison
The current volatility for Goldman Sachs Ultra Short Bond ETF (GSST) is 0.13%, while FlexShares Disciplined Duration MBS Index Fund (MBSD) has a volatility of 1.15%. This indicates that GSST experiences smaller price fluctuations and is considered to be less risky than MBSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSST | MBSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 1.15% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 2.47% | -2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.58% | 3.53% | -2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.63% | 5.15% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 4.26% | -3.40% |
GSST vs. MBSD - Expense Ratio Comparison
GSST has a 0.16% expense ratio, which is lower than MBSD's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GSST vs. MBSD - Dividend Comparison
GSST's dividend yield for the trailing twelve months is around 4.32%, more than MBSD's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 4.32% | 4.56% | 5.45% | 4.98% | 1.97% | 0.71% | 1.12% | 1.66% | 0.00% | 0.00% | 0.00% | 0.00% |
MBSD FlexShares Disciplined Duration MBS Index Fund | 4.19% | 4.23% | 3.91% | 3.39% | 3.03% | 2.41% | 2.78% | 3.42% | 3.22% | 3.30% | 3.02% | 3.46% |
Frequently Asked Questions
GSST and MBSD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBSD has higher volatility (1.15%) compared to GSST (0.13%). In terms of maximum drawdown, GSST dropped -3.51% vs MBSD's -14.36%.
On 5-year performance, GSST leads with 3.75% vs 0.62% for MBSD. On fees, GSST is cheaper at 0.16% per year. On volatility, GSST has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSST has performed better with a 3.75% return vs 0.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSST is cheaper with a 0.16% expense ratio, compared with 0.20% for MBSD.
GSST has the higher dividend yield at 4.32%, compared with 4.19% for MBSD.
GSST is categorized as Ultrashort Bond, while MBSD is Mortgage Backed Securities. They also come from different issuers: Goldman Sachs and Northern Trust. Their fees differ too: 0.16% for GSST and 0.20% for MBSD.
GSST currently has the higher Sharpe Ratio (7.98 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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