MBBA vs. EVMO

Last updated Jun 4, 2026

MBBA (iShares Mortgage-Backed Securities Active ETF) and EVMO (Eaton Vance Mortgage Opportunities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. MBBA charges 0.25%/yr vs 0.45%/yr for EVMO.

Performance

MBBA vs. EVMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Mortgage-Backed Securities Active ETF (MBBA) and Eaton Vance Mortgage Opportunities ETF (EVMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MBBA

• 1D: -0.16%
• 1M: 0.53%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EVMO

• 1D: -0.25%
• 1M: 0.14%
• YTD: 0.73%
• 6M: 0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MBBA vs. EVMO - Yearly Performance Comparison

	2026 (YTD)
MBBA iShares Mortgage-Backed Securities Active ETF	0.64%
EVMO Eaton Vance Mortgage Opportunities ETF	0.45%

Correlation

The correlation between MBBA and EVMO is 0.84, 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 Jan 27, 2026	0.84

Return for Risk

MBBA vs. EVMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Mortgage-Backed Securities Active ETF (MBBA) and Eaton Vance Mortgage Opportunities ETF (EVMO). 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

	MBBA	EVMO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.76	-1.36

Drawdowns

MBBA vs. EVMO - Drawdown Comparison

The maximum MBBA drawdown since its inception was -2.83%, which is greater than EVMO's maximum drawdown of -1.89%. Use the drawdown chart below to compare losses from any high point for MBBA and EVMO.

Drawdown Indicators

	MBBA	EVMO	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-1.89%	-0.94%
Current Drawdown Current decline from peak	-1.17%	-0.91%	-0.26%
Average Drawdown Average peak-to-trough decline	-1.12%	-0.38%	-0.74%

Volatility

Volatility by Period

	MBBA	EVMO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.66%	2.83%	+1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.66%	2.83%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.66%	2.83%	+1.83%

MBBA vs. EVMO - Expense Ratio Comparison

MBBA has a 0.25% expense ratio, which is lower than EVMO's 0.45% expense ratio.

Dividends

MBBA vs. EVMO - Dividend Comparison

MBBA's dividend yield for the trailing twelve months is around 1.84%, less than EVMO's 4.07% yield.

Position	TTM	2025
EVMO Eaton Vance Mortgage Opportunities ETF	4.07%	1.95%
MBBA iShares Mortgage-Backed Securities Active ETF	1.84%	0.00%

Frequently Asked Questions

Can I hold both MBBA and EVMO in my portfolio?

MBBA and EVMO have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MBBA or EVMO?

On fees, MBBA is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MBBA or EVMO?

MBBA is cheaper with a 0.25% expense ratio, compared with 0.45% for EVMO.

Which ETF pays a higher dividend yield, MBBA or EVMO?

EVMO has the higher dividend yield at 4.07%, compared with 1.84% for MBBA.

What is the main difference between MBBA and EVMO?

They also come from different issuers: iShares and Eaton Vance. Their fees differ too: 0.25% for MBBA and 0.45% for EVMO.