MBS vs. KDRN
MBS (Angel Oak Mortgage-Backed Securities ETF) and KDRN (Kingsbarn Tactical Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, MBS returned 6.13% vs 3.23% for KDRN. A 0.62 correlation means they provide meaningful diversification when combined. MBS charges 0.49%/yr vs 1.09%/yr for KDRN.
Performance
MBS vs. KDRN - Performance Comparison
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Returns By Period
In the year-to-date period, MBS achieves a 1.67% return, which is significantly higher than KDRN's 1.46% return.
MBS
- 1D
- 0.12%
- 1M
- 0.87%
- YTD
- 1.67%
- 6M
- 1.61%
- 1Y
- 6.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KDRN
- 1D
- 0.09%
- 1M
- 0.21%
- YTD
- 1.46%
- 6M
- 0.89%
- 1Y
- 3.23%
- 3Y*
- 3.34%
- 5Y*
- —
- 10Y*
- —
MBS vs. KDRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MBS Angel Oak Mortgage-Backed Securities ETF | 1.67% | 8.13% | 5.84% |
KDRN Kingsbarn Tactical Bond ETF | 1.46% | 4.65% | 3.61% |
Correlation
The correlation between MBS and KDRN is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2024 | 0.62 |
The correlation between MBS and KDRN shifts across timeframes, from 0.50 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MBS vs. KDRN — Risk / Return Rank
MBS
KDRN
MBS vs. KDRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak Mortgage-Backed Securities ETF (MBS) and Kingsbarn Tactical Bond ETF (KDRN). 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.
| MBS | KDRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.18 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 1.83 | +0.97 |
| Martin ratioReturn relative to average drawdown | 8.06 | 3.59 | +4.47 |
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Drawdowns
MBS vs. KDRN - Drawdown Comparison
The maximum MBS drawdown since its inception was -4.09%, smaller than the maximum KDRN drawdown of -15.29%. Use the drawdown chart below to compare losses from any high point for MBS and KDRN.
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Drawdown Indicators
| MBS | KDRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.09% | -15.29% | +11.20% |
Max Drawdown (1Y)Largest decline over 1 year | -2.20% | -1.77% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.94% | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.58% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -1.02% | -4.70% | +3.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.90% | -0.14% |
Volatility
MBS vs. KDRN - Volatility Comparison
Angel Oak Mortgage-Backed Securities ETF (MBS) has a higher volatility of 0.85% compared to Kingsbarn Tactical Bond ETF (KDRN) at 0.58%. This indicates that MBS's price experiences larger fluctuations and is considered to be riskier than KDRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBS | KDRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.58% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.07% | 1.92% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.79% | 3.35% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.96% | 6.56% | -2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.96% | 6.56% | -2.60% |
MBS vs. KDRN - Expense Ratio Comparison
MBS has a 0.49% expense ratio, which is lower than KDRN's 1.09% expense ratio.
Dividends
MBS vs. KDRN - Dividend Comparison
MBS's dividend yield for the trailing twelve months is around 5.55%, more than KDRN's 3.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
KDRN Kingsbarn Tactical Bond ETF | 3.33% | 2.54% | 2.83% | 2.84% | 2.11% |
MBS Angel Oak Mortgage-Backed Securities ETF | 5.55% | 5.28% | 4.52% | 0.00% | 0.00% |
Frequently Asked Questions
MBS and KDRN have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBS has higher volatility (0.85%) compared to KDRN (0.58%). In terms of maximum drawdown, MBS dropped -4.09% vs KDRN's -15.29%.
On 1-year performance, MBS leads with 6.13% vs 3.23% for KDRN. On fees, MBS is cheaper at 0.49% per year. On volatility, KDRN has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MBS has performed better with a 6.13% return vs 3.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBS is cheaper with a 0.49% expense ratio, compared with 1.09% for KDRN.
MBS has the higher dividend yield at 5.55%, compared with 3.33% for KDRN.
They also come from different issuers: Angel Oak and Kingsbarn. Their fees differ too: 0.49% for MBS and 1.09% for KDRN.
MBS currently has the higher Sharpe Ratio (2.21 vs 0.97), 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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