MBB vs. JMBS
MBB (iShares MBS Bond ETF) and JMBS (Janus Henderson Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. MBB is passively managed, while JMBS is actively managed. Over the past 5 years, MBB returned 0.34%/yr vs 0.74%/yr for JMBS. Their correlation of 0.86 suggests significant overlap in exposure. MBB charges 0.06%/yr vs 0.32%/yr for JMBS.
Performance
MBB vs. JMBS - Performance Comparison
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Returns By Period
In the year-to-date period, MBB achieves a 0.58% return, which is significantly higher than JMBS's 0.51% return.
MBB
- 1D
- -0.23%
- 1M
- 0.31%
- YTD
- 0.58%
- 6M
- 0.71%
- 1Y
- 6.76%
- 3Y*
- 4.36%
- 5Y*
- 0.34%
- 10Y*
- 1.30%
JMBS
- 1D
- -0.29%
- 1M
- 0.29%
- YTD
- 0.51%
- 6M
- 0.73%
- 1Y
- 7.18%
- 3Y*
- 4.66%
- 5Y*
- 0.74%
- 10Y*
- —
MBB vs. JMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MBB iShares MBS Bond ETF | 0.58% | 8.38% | 1.31% | 5.01% | -11.74% | -1.43% | 4.08% | 6.18% | 1.85% |
JMBS Janus Henderson Mortgage-Backed Securities ETF | 0.51% | 8.82% | 1.53% | 5.66% | -11.40% | -0.32% | 5.80% | 7.11% | 1.53% |
Correlation
The correlation between MBB and JMBS is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 14, 2018 | 0.86 |
The correlation between MBB and JMBS has been stable across timeframes, ranging from 0.86 to 0.96 - a consistent structural relationship.
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Return for Risk
MBB vs. JMBS — Risk / Return Rank
MBB
JMBS
MBB vs. JMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MBS Bond ETF (MBB) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). 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.
| MBB | JMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.36 | -0.05 |
| Martin ratioReturn relative to average drawdown | 7.64 | 7.80 | -0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MBB | JMBS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 1.67 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.11 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.42 | +0.17 |
Drawdowns
MBB vs. JMBS - Drawdown Comparison
The maximum MBB drawdown since its inception was -17.64%, which is greater than JMBS's maximum drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for MBB and JMBS.
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Drawdown Indicators
| MBB | JMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.64% | -16.68% | -0.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -3.05% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -7.68% | -7.76% | +0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -16.68% | -0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -17.64% | — | — |
Current DrawdownCurrent decline from peak | -1.52% | -1.66% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -3.90% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.92% | -0.03% |
Volatility
MBB vs. JMBS - Volatility Comparison
iShares MBS Bond ETF (MBB) and Janus Henderson Mortgage-Backed Securities ETF (JMBS) have volatilities of 1.59% and 1.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBB | JMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 1.65% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 3.23% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.51% | 4.31% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.81% | 6.49% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.31% | 5.52% | -0.21% |
MBB vs. JMBS - Expense Ratio Comparison
MBB has a 0.06% expense ratio, which is lower than JMBS's 0.32% expense ratio.
Dividends
MBB vs. JMBS - Dividend Comparison
MBB's dividend yield for the trailing twelve months is around 4.28%, less than JMBS's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
JMBS Janus Henderson Mortgage-Backed Securities ETF | 5.19% | 5.03% | 5.53% | 4.38% | 2.73% | 1.16% | 2.92% | 3.63% | 0.89% | 0.00% | 0.00% | 0.00% |
MBB iShares MBS Bond ETF | 4.28% | 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
With a correlation of 0.94, MBB and JMBS 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.
JMBS has higher volatility (1.65%) compared to MBB (1.59%). In terms of maximum drawdown, MBB dropped -17.64% vs JMBS's -16.68%.
On 5-year performance, JMBS leads with 0.74% vs 0.34% for MBB. On fees, MBB is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JMBS has performed better with a 0.74% return vs 0.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBB is cheaper with a 0.06% expense ratio, compared with 0.32% for JMBS.
JMBS has the higher dividend yield at 5.19%, compared with 4.28% for MBB.
They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.06% for MBB and 0.32% for JMBS.
JMBS currently has the higher Sharpe Ratio (1.67 vs 1.51), 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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