KDRN vs. MBS

Last updated Jun 13, 2026

KDRN (Kingsbarn Tactical Bond ETF) and MBS (Angel Oak Mortgage-Backed Securities ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, KDRN returned 3.47% vs 6.32% for MBS. A 0.62 correlation means they provide meaningful diversification when combined. KDRN charges 1.09%/yr vs 0.49%/yr for MBS.

Performance

KDRN vs. MBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kingsbarn Tactical Bond ETF (KDRN) 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, KDRN achieves a 1.29% return, which is significantly higher than MBS's 0.86% return.

KDRN

• 1D: -0.02%
• 1M: 0.39%
• YTD: 1.29%
• 6M: 1.48%
• 1Y: 3.47%
• 3Y*: 3.48%
• 5Y*: —
• 10Y*: —

MBS

• 1D: 0.00%
• 1M: 0.19%
• YTD: 0.86%
• 6M: 1.37%
• 1Y: 6.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KDRN vs. MBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KDRN Kingsbarn Tactical Bond ETF	1.29%	4.65%	3.61%
MBS Angel Oak Mortgage-Backed Securities ETF	0.86%	8.13%	5.84%

Correlation

The correlation between KDRN and MBS is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Feb 20, 2024	0.62

The correlation between KDRN and MBS shifts across timeframes, from 0.51 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

KDRN vs. MBS — Risk / Return Rank

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

KDRN

KDRN Risk / Return Rank: 34
KDRN Sharpe Ratio Rank: 32
KDRN Sortino Ratio Rank: 31
KDRN Omega Ratio Rank: 32
KDRN Calmar Ratio Rank: 44
KDRN Martin Ratio Rank: 30

MBS

MBS Risk / Return Rank: 74
MBS Sharpe Ratio Rank: 81
MBS Sortino Ratio Rank: 86
MBS Omega Ratio Rank: 81
MBS Calmar Ratio Rank: 65
MBS Martin Ratio Rank: 56

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.

KDRN vs. MBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kingsbarn Tactical Bond ETF (KDRN) 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.

	KDRN	MBS	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.27	-1.23
Sortino ratio: Return per unit of downside risk	1.53	3.42	-1.88
Omega ratio: Gain probability vs. loss probability	1.20	1.43	-0.23
Calmar ratio: Return relative to maximum drawdown	1.97	2.88	-0.91
Martin ratio: Return relative to average drawdown	3.91	8.61	-4.70

KDRN vs. MBS - Sharpe Ratio Comparison

The current KDRN Sharpe Ratio is 1.04, which is lower than the MBS Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of KDRN 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

KDRN vs. MBS - Drawdown Comparison

The maximum KDRN drawdown since its inception was -15.29%, which is greater than MBS's maximum drawdown of -4.09%. Use the drawdown chart below to compare losses from any high point for KDRN and MBS.

Drawdown Indicators

	KDRN	MBS	Difference
Max Drawdown Largest peak-to-trough decline	-15.29%	-4.09%	-11.20%
Max Drawdown (1Y) Largest decline over 1 year	-1.77%	-2.20%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-4.94%	—	—
Current Drawdown Current decline from peak	-0.75%	-1.23%	+0.48%
Average Drawdown Average peak-to-trough decline	-4.74%	-1.02%	-3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.74%	+0.15%

Volatility

KDRN vs. MBS - Volatility Comparison

The current volatility for Kingsbarn Tactical Bond ETF (KDRN) is 0.78%, while Angel Oak Mortgage-Backed Securities ETF (MBS) has a volatility of 0.91%. This indicates that KDRN experiences smaller price fluctuations and is considered to be less risky than MBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KDRN	MBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	0.91%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	2.04%	2.04%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	2.81%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.59%	3.98%	+2.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.59%	3.98%	+2.61%

KDRN vs. MBS - Expense Ratio Comparison

KDRN has a 1.09% expense ratio, which is higher than MBS's 0.49% expense ratio.

Dividends

KDRN vs. MBS - Dividend Comparison

KDRN's dividend yield for the trailing twelve months is around 3.11%, less than MBS's 5.60% yield.

Position	TTM	2025	2024	2023	2022
KDRN Kingsbarn Tactical Bond ETF	3.11%	2.54%	2.83%	2.84%	2.11%
MBS Angel Oak Mortgage-Backed Securities ETF	5.60%	5.28%	4.52%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KDRN and MBS in my portfolio?

KDRN and MBS have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KDRN or MBS?

MBS has higher volatility (0.91%) compared to KDRN (0.78%). In terms of maximum drawdown, KDRN dropped -15.29% vs MBS's -4.09%.

Which ETF is better, KDRN or MBS?

On 1-year performance, MBS leads with 6.32% vs 3.47% for KDRN. On fees, MBS is cheaper at 0.49% per year. On volatility, KDRN has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KDRN or MBS?

Over the 1-year period, MBS has performed better with a 6.32% return vs 3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KDRN or MBS?

MBS is cheaper with a 0.49% expense ratio, compared with 1.09% for KDRN.

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

MBS has the higher dividend yield at 5.60%, compared with 3.11% for KDRN.

What is the main difference between KDRN and MBS?

They also come from different issuers: Kingsbarn and Angel Oak. Their fees differ too: 1.09% for KDRN and 0.49% for MBS.

Which has better risk-adjusted returns?

MBS currently has the higher Sharpe Ratio (2.27 vs 1.04), 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.