IMTG vs. MBSD

Last updated Jun 4, 2026

IMTG (Invesco Agency MBS ETF) and MBSD (FlexShares Disciplined Duration MBS Index Fund) are both Mortgage Backed Securities funds. IMTG is actively managed, while MBSD is passively managed. Their correlation of 0.95 suggests significant overlap in exposure. IMTG charges 0.22%/yr vs 0.20%/yr for MBSD.

Performance

IMTG vs. MBSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Agency MBS ETF (IMTG) and FlexShares Disciplined Duration MBS Index Fund (MBSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IMTG

• 1D: -0.18%
• 1M: 0.23%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

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

IMTG vs. MBSD - Yearly Performance Comparison

	2026 (YTD)
IMTG Invesco Agency MBS ETF	-1.11%
MBSD FlexShares Disciplined Duration MBS Index Fund	-0.84%

Correlation

The correlation between IMTG and MBSD is 0.95, 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 Feb 26, 2026	0.95

Return for Risk

IMTG vs. MBSD — Risk / Return Rank

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

MBSD

MBSD Risk / Return Rank: 45
MBSD Sharpe Ratio Rank: 42
MBSD Sortino Ratio Rank: 44
MBSD Omega Ratio Rank: 42
MBSD Calmar Ratio Rank: 49
MBSD Martin Ratio Rank: 47

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.

IMTG vs. MBSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Agency MBS ETF (IMTG) 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.

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

Sharpe Ratios by Period

	IMTG	MBSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	0.38	-1.24

Drawdowns

IMTG vs. MBSD - Drawdown Comparison

The maximum IMTG drawdown since its inception was -2.85%, smaller than the maximum MBSD drawdown of -14.36%. Use the drawdown chart below to compare losses from any high point for IMTG and MBSD.

Drawdown Indicators

	IMTG	MBSD	Difference
Max Drawdown Largest peak-to-trough decline	-2.85%	-14.36%	+11.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.17%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.36%	—
Current Drawdown Current decline from peak	-1.50%	-1.19%	-0.31%
Average Drawdown Average peak-to-trough decline	-1.41%	-2.81%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.68%	—

Volatility

Volatility by Period

	IMTG	MBSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.74%	3.53%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.74%	5.15%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.74%	4.26%	+0.48%

IMTG vs. MBSD - Expense Ratio Comparison

IMTG has a 0.22% expense ratio, which is higher than MBSD's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IMTG vs. MBSD - Dividend Comparison

IMTG's dividend yield for the trailing twelve months is around 0.85%, less than MBSD's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMTG Invesco Agency MBS ETF	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both IMTG and MBSD in my portfolio?

With a correlation of 0.95, IMTG and MBSD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IMTG or MBSD?

On fees, MBSD is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMTG or MBSD?

MBSD is cheaper with a 0.20% expense ratio, compared with 0.22% for IMTG.

Which ETF pays a higher dividend yield, IMTG or MBSD?

MBSD has the higher dividend yield at 4.19%, compared with 0.85% for IMTG.

What is the main difference between IMTG and MBSD?

They also come from different issuers: Invesco and Northern Trust. Their fees differ too: 0.22% for IMTG and 0.20% for MBSD.