LVLN vs. MBSF

Last updated Jul 11, 2026

LVLN (SPDR S&P Leveraged Loan ETF) and MBSF (Regan Floating Rate MBS ETF) are both Bank Loan funds. LVLN is passively managed, while MBSF is actively managed. At a correlation of -0.03, they often move in opposite directions. LVLN charges 0.40%/yr vs 0.49%/yr for MBSF.

Performance

LVLN vs. MBSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Leveraged Loan ETF (LVLN) 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, LVLN achieves a 1.42% return, which is significantly lower than MBSF's 2.22% return.

LVLN

• 1D: 0.06%
• 1M: 0.70%
• 6M: 1.34%
• YTD: 1.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBSF

• 1D: 0.16%
• 1M: 0.50%
• 6M: 2.28%
• YTD: 2.22%
• 1Y: 5.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LVLN vs. MBSF - Yearly Performance Comparison

	2026 (YTD)	2025
LVLN SPDR S&P Leveraged Loan ETF	1.42%	1.14%
MBSF Regan Floating Rate MBS ETF	2.22%	0.95%

Correlation

The correlation between LVLN and MBSF is -0.03, 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 Nov 18, 2025	-0.03

Return for Risk

LVLN vs. MBSF — Risk / Return Rank

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

LVLN

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

MBSF

MBSF Risk / Return Rank: 87
MBSF Sharpe Ratio Rank: 78
MBSF Sortino Ratio Rank: 86
MBSF Omega Ratio Rank: 81
MBSF Calmar Ratio Rank: 96
MBSF Martin Ratio Rank: 95

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.

LVLN vs. MBSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Leveraged Loan ETF (LVLN) 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.

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.

	LVLN	MBSF	Difference
Sharpe ratio: Return per unit of total volatility	—	1.98	—
Sortino ratio: Return per unit of downside risk	—	3.07	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	7.28	—
Martin ratio: Return relative to average drawdown	—	22.32	—

Drawdowns

LVLN vs. MBSF - Drawdown Comparison

The maximum LVLN drawdown since its inception was -2.34%, which is greater than MBSF's maximum drawdown of -0.97%. Use the drawdown chart below to compare losses from any high point for LVLN and MBSF.

Drawdown Indicators

	LVLN	MBSF	Difference
Max Drawdown Largest peak-to-trough decline	-2.34%	-0.97%	-1.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.79%	—
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-0.50%	-0.22%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.26%	—

Volatility

Volatility by Period

	LVLN	MBSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.58%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.66%	2.91%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.66%	3.29%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.66%	3.29%	-0.63%

LVLN vs. MBSF - Expense Ratio Comparison

LVLN has a 0.40% expense ratio, which is lower than MBSF's 0.49% expense ratio.

Dividends

LVLN vs. MBSF - Dividend Comparison

LVLN's dividend yield for the trailing twelve months is around 4.32%, less than MBSF's 4.46% yield.

Position	TTM	2025	2024
LVLN SPDR S&P Leveraged Loan ETF	4.32%	0.49%	0.00%
MBSF Regan Floating Rate MBS ETF	4.46%	4.71%	4.14%

Frequently Asked Questions

Can I hold both LVLN and MBSF in my portfolio?

LVLN and MBSF have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LVLN or MBSF?

On fees, LVLN is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LVLN or MBSF?

LVLN is cheaper with a 0.40% expense ratio, compared with 0.49% for MBSF.

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

MBSF has the higher dividend yield at 4.46%, compared with 4.32% for LVLN.

What is the main difference between LVLN and MBSF?

They also come from different issuers: State Street and Regan. Their fees differ too: 0.40% for LVLN and 0.49% for MBSF.