HFSP vs. MBS

Last updated Aug 2, 2026

HFSP (TradersAI Large Cap Equity & Cash ETF) and MBS (Angel Oak Mortgage-Backed Securities ETF) are both exchange-traded funds - HFSP is a Long-Short fund actively managed by Tidal, while MBS is a Intermediate Core-Plus Bond fund actively managed by Angel Oak. Both are actively managed. Over the past year, HFSP returned -26.61% vs 4.18% for MBS. Their 0.01 correlation means their historical movements had little consistent relationship. HFSP charges 1.25%/yr vs 0.49%/yr for MBS.

Performance

HFSP vs. MBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TradersAI Large Cap Equity & Cash ETF (HFSP) and Angel Oak Mortgage-Backed Securities ETF (MBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFSP achieves a -13.00% return, which is significantly lower than MBS's 0.21% return.

HFSP

• 1D: -2.86%
• 1M: -4.16%
• 6M: -13.42%
• YTD: -13.00%
• 1Y: -26.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -20.56%

MBS

• 1D: -0.41%
• 1M: -1.16%
• 6M: -0.23%
• YTD: 0.21%
• 1Y: 4.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HFSP TradersAI Large Cap Equity & Cash ETF	$263.78	$441.47	$507.97
MBS Angel Oak Mortgage-Backed Securities ETF	$371.44K	$334.47K	$420.25K

HFSP vs. MBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HFSP TradersAI Large Cap Equity & Cash ETF	-13.00%	-24.01%	0.75%
MBS Angel Oak Mortgage-Backed Securities ETF	0.21%	8.13%	-0.69%

Correlation

The correlation between HFSP and MBS is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.12
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	0.01

The correlation between HFSP and MBS shifts across timeframes, from -0.12 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HFSP vs. MBS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HFSP

HFSP Risk / Return Rank: 0
HFSP Sharpe Ratio Rank: 0
HFSP Sortino Ratio Rank: 1
HFSP Omega Ratio Rank: 0
HFSP Calmar Ratio Rank: 1
HFSP Martin Ratio Rank: 0

MBS

MBS Risk / Return Rank: 67
MBS Sharpe Ratio Rank: 75
MBS Sortino Ratio Rank: 78
MBS Omega Ratio Rank: 75
MBS Calmar Ratio Rank: 61
MBS Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HFSP vs. MBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TradersAI Large Cap Equity & Cash ETF (HFSP) and Angel Oak Mortgage-Backed Securities ETF (MBS). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HFSP	MBS	Difference
Sharpe ratio: Return per unit of total volatility	-1.48	1.70	-3.18
Sortino ratio: Return per unit of downside risk	-1.97	2.55	-4.51
Omega ratio: Gain probability vs. loss probability	0.75	1.31	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.92	2.14	-3.06
Martin ratio: Return relative to average drawdown	-1.52	5.64	-7.16

HFSP vs. MBS - Sharpe Ratio Comparison

The current HFSP Sharpe Ratio is -1.48, which is lower than the MBS Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of HFSP and MBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HFSP vs. MBS - Drawdown Comparison

The maximum HFSP drawdown since its inception was -37.30%, which is greater than MBS's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for HFSP and MBS.

Drawdown Indicators

	HFSP	MBS	Difference
Max Drawdown Largest peak-to-trough decline	-37.30%	-4.09%	-33.21%
Max Drawdown (1Y) Largest decline over 1 year	-28.62%	-2.20%	-26.42%
Current Drawdown Current decline from peak	-37.30%	-1.87%	-35.43%
Average Drawdown Average peak-to-trough decline	-18.61%	-1.02%	-17.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.31%	0.83%	+16.48%

Volatility

HFSP vs. MBS - Volatility Comparison

TradersAI Large Cap Equity & Cash ETF (HFSP) has a higher volatility of 4.87% compared to Angel Oak Mortgage-Backed Securities ETF (MBS) at 0.61%. This indicates that HFSP's price experiences larger fluctuations and is considered to be riskier than MBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFSP	MBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	0.61%	+4.26%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	2.02%	+10.39%
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	2.77%	+15.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.00%	3.92%	+20.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.00%	3.92%	+20.08%

HFSP vs. MBS - Expense Ratio Comparison

HFSP has a 1.25% expense ratio, which is higher than MBS's 0.49% expense ratio.

Dividends

HFSP vs. MBS - Dividend Comparison

HFSP has not paid dividends to shareholders, while MBS's dividend yield for the trailing twelve months is around 5.59%.

Position	TTM	2025	2024
HFSP TradersAI Large Cap Equity & Cash ETF	0.00%	0.00%	1.53%
MBS Angel Oak Mortgage-Backed Securities ETF	5.59%	5.28%	4.52%

Frequently Asked Questions

Can I hold both HFSP and MBS in my portfolio?

HFSP and MBS have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFSP or MBS?

HFSP has higher volatility (4.87%) compared to MBS (0.61%). In terms of maximum drawdown, HFSP dropped -37.30% vs MBS's -4.09%.

Which ETF is better, HFSP or MBS?

On 1-year performance, MBS leads with 4.18% vs -26.61% for HFSP. On fees, MBS is cheaper at 0.49% per year. On volatility, MBS has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HFSP or MBS?

Over the 1-year period, MBS has performed better with a 4.18% return vs -26.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HFSP or MBS?

MBS is cheaper with a 0.49% expense ratio, compared with 1.25% for HFSP.

Which ETF pays a higher dividend yield, HFSP or MBS?

MBS has the higher dividend yield at 5.59%, compared with 0.00% for HFSP.

What is the main difference between HFSP and MBS?

HFSP is categorized as Long-Short, while MBS is Intermediate Core-Plus Bond. They also come from different issuers: Tidal and Angel Oak. Their fees differ too: 1.25% for HFSP and 0.49% for MBS.

Which has better risk-adjusted returns?

MBS currently has the higher Sharpe Ratio (1.70 vs -1.48), 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.