MBB vs. FLIA
MBB (iShares MBS Bond ETF) and FLIA (Franklin Liberty International Aggregate Bond ETF) are both exchange-traded funds - MBB is a Mortgage Backed Securities fund tracking the Bloomberg U.S. MBS Index, while FLIA is a International Government Bonds fund actively managed by Franklin Templeton. MBB is passively managed, while FLIA is actively managed. Over the past 5 years, MBB returned 0.08%/yr vs 0.63%/yr for FLIA. Their 0.53 correlation means they have sometimes moved together and sometimes differently. MBB charges 0.04%/yr vs 0.25%/yr for FLIA.
Performance
MBB vs. FLIA - Performance Comparison
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Returns By Period
In the year-to-date period, MBB achieves a -0.34% return, which is significantly lower than FLIA's 0.92% return.
MBB
- 1D
- -0.40%
- 1M
- -1.29%
- 6M
- -0.83%
- YTD
- -0.34%
- 1Y
- 3.08%
- 3Y*
- 4.35%
- 5Y*
- 0.08%
- 10Y*
- 1.15%
- ALL TIME*
- 2.61%
FLIA
- 1D
- -0.22%
- 1M
- -0.76%
- 6M
- 0.27%
- YTD
- 0.92%
- 1Y
- 1.38%
- 3Y*
- 3.45%
- 5Y*
- 0.63%
- 10Y*
- —
- ALL TIME*
- 1.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.86M | $2.64M | $2.21M | |
| $206.11M | $186.95M | $205.58M |
MBB vs. FLIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MBB iShares MBS Bond ETF | -0.34% | 8.38% | 1.31% | 5.01% | -11.74% | -1.43% | 4.08% | 6.18% | 2.04% |
FLIA Franklin Liberty International Aggregate Bond ETF | 0.92% | 2.12% | 2.42% | 7.17% | -7.68% | -1.98% | 1.37% | 7.58% | -2.32% |
Correlation
The correlation between MBB and FLIA is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2018 | 0.53 |
The correlation between MBB and FLIA shifts across timeframes, from 0.53 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MBB vs. FLIA — Risk / Return Rank
MBB
FLIA
MBB vs. FLIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MBS Bond ETF (MBB) and Franklin Liberty International Aggregate Bond ETF (FLIA). 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.
| MBB | FLIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.10 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 0.87 | +0.55 |
| Martin ratioReturn relative to average drawdown | 3.92 | 2.29 | +1.63 |
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Drawdowns
MBB vs. FLIA - Drawdown Comparison
The maximum MBB drawdown since its inception was -17.64%, which is greater than FLIA's maximum drawdown of -11.24%. Use the drawdown chart below to compare losses from any high point for MBB and FLIA.
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Drawdown Indicators
| MBB | FLIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.64% | -11.24% | -6.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.04% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -6.40% | -2.28% | -4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -9.42% | -7.77% |
Max Drawdown (10Y)Largest decline over 10 years | -17.64% | — | — |
Current DrawdownCurrent decline from peak | -2.42% | -0.99% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -3.73% | +1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.77% | +0.30% |
Volatility
MBB vs. FLIA - Volatility Comparison
iShares MBS Bond ETF (MBB) has a higher volatility of 1.29% compared to Franklin Liberty International Aggregate Bond ETF (FLIA) at 0.88%. This indicates that MBB's price experiences larger fluctuations and is considered to be riskier than FLIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBB | FLIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.88% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.47% | 2.59% | +0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 3.24% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.85% | 4.42% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 4.68% | +0.65% |
MBB vs. FLIA - Expense Ratio Comparison
MBB has a 0.04% expense ratio, which is lower than FLIA's 0.25% 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
MBB vs. FLIA - Dividend Comparison
MBB's dividend yield for the trailing twelve months is around 4.34%, more than FLIA's 2.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLIA Franklin Liberty International Aggregate Bond ETF | 2.71% | 2.62% | 2.97% | 0.93% | 18.12% | 2.26% | 0.43% | 2.93% | 1.23% | 0.00% | 0.00% | 0.00% |
MBB iShares MBS Bond ETF | 3.98% | 4.21% | 3.94% | 3.40% | 2.31% | 1.05% | 2.10% | 2.77% | 2.64% | 2.23% | 2.58% | 2.66% |
Frequently Asked Questions
MBB and FLIA have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBB has higher volatility (1.29%) compared to FLIA (0.88%). In terms of maximum drawdown, MBB dropped -17.64% vs FLIA's -11.24%.
On 5-year performance, FLIA leads with 0.63% vs 0.08% for MBB. On fees, MBB is cheaper at 0.04% per year. On volatility, FLIA has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLIA has performed better with a 0.63% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBB is cheaper with a 0.04% expense ratio, compared with 0.25% for FLIA.
MBB has the higher dividend yield at 3.98%, compared with 2.71% for FLIA.
MBB is categorized as Mortgage Backed Securities, while FLIA is International Government Bonds. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.04% for MBB and 0.25% for FLIA.
MBB currently has the higher Sharpe Ratio (0.94 vs 0.55), 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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