MBBA vs. JMBS

Last updated Jun 5, 2026

MBBA (iShares Mortgage-Backed Securities Active ETF) and JMBS (Janus Henderson Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Their correlation of 0.91 suggests significant overlap in exposure. MBBA charges 0.25%/yr vs 0.32%/yr for JMBS.

Performance

MBBA vs. JMBS - Performance Comparison

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

Returns By Period

MBBA

• 1D: -0.10%
• 1M: 0.34%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JMBS

• 1D: 0.18%
• 1M: 0.18%
• YTD: 0.68%
• 6M: 1.07%
• 1Y: 6.62%
• 3Y*: 4.74%
• 5Y*: 0.78%
• 10Y*: —

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

MBBA vs. JMBS - Yearly Performance Comparison

	2026 (YTD)
MBBA iShares Mortgage-Backed Securities Active ETF	0.54%
JMBS Janus Henderson Mortgage-Backed Securities ETF	0.09%

Correlation

The correlation between MBBA and JMBS is 0.91, 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	0.91

Return for Risk

MBBA vs. JMBS — Risk / Return Rank

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

JMBS

JMBS Risk / Return Rank: 46
JMBS Sharpe Ratio Rank: 46
JMBS Sortino Ratio Rank: 47
JMBS Omega Ratio Rank: 45
JMBS Calmar Ratio Rank: 44
JMBS Martin Ratio Rank: 45

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.

MBBA vs. JMBS - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	MBBA	JMBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.56	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.12	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.42	-0.09

Drawdowns

MBBA vs. JMBS - Drawdown Comparison

The maximum MBBA drawdown since its inception was -2.83%, smaller than the maximum JMBS drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for MBBA and JMBS.

Drawdown Indicators

	MBBA	JMBS	Difference
Max Drawdown Largest peak-to-trough decline	-2.83%	-16.68%	+13.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.05%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.68%	—
Current Drawdown Current decline from peak	-1.27%	-1.48%	+0.21%
Average Drawdown Average peak-to-trough decline	-1.12%	-3.89%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.93%	—

Volatility

Volatility by Period

	MBBA	JMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.64%	4.31%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	6.49%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	5.52%	-0.88%

MBBA vs. JMBS - Expense Ratio Comparison

MBBA has a 0.25% expense ratio, which is lower than JMBS's 0.32% expense ratio.

Dividends

MBBA vs. JMBS - Dividend Comparison

MBBA's dividend yield for the trailing twelve months is around 1.84%, less than JMBS's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMBS Janus Henderson Mortgage-Backed Securities ETF	5.18%	5.03%	5.53%	4.38%	2.73%	1.16%	2.92%	3.63%	0.89%
MBBA iShares Mortgage-Backed Securities Active ETF	1.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MBBA and JMBS in my portfolio?

With a correlation of 0.91, MBBA 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.

Which ETF is better, MBBA or JMBS?

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 JMBS?

MBBA is cheaper with a 0.25% expense ratio, compared with 0.32% for JMBS.

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

JMBS has the higher dividend yield at 5.18%, compared with 1.84% for MBBA.

What is the main difference between MBBA and JMBS?

They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.25% for MBBA and 0.32% for JMBS.