MBSD vs. GSST
MBSD (FlexShares Disciplined Duration MBS Index Fund) and GSST (Goldman Sachs Ultra Short Bond ETF) are both exchange-traded funds - MBSD is a Mortgage Backed Securities fund tracking the ICE BofA Constrained Duration US Mortgage Backed Securities, while GSST is a Ultrashort Bond fund actively managed by Goldman Sachs. MBSD is passively managed, while GSST is actively managed. Over the past 5 years, MBSD returned 0.71%/yr vs 3.79%/yr for GSST. At a 0.34 correlation, their price movements are largely independent. MBSD charges 0.20%/yr vs 0.16%/yr for GSST.
Performance
MBSD vs. GSST - Performance Comparison
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Returns By Period
In the year-to-date period, MBSD achieves a 0.51% return, which is significantly lower than GSST's 1.72% return.
MBSD
- 1D
- -0.21%
- 1M
- 0.36%
- YTD
- 0.51%
- 6M
- 0.48%
- 1Y
- 4.60%
- 3Y*
- 4.23%
- 5Y*
- 0.71%
- 10Y*
- 1.37%
GSST
- 1D
- -0.02%
- 1M
- 0.30%
- YTD
- 1.72%
- 6M
- 1.81%
- 1Y
- 4.49%
- 3Y*
- 5.48%
- 5Y*
- 3.79%
- 10Y*
- —
MBSD vs. GSST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MBSD FlexShares Disciplined Duration MBS Index Fund | 0.51% | 7.12% | 2.30% | 4.46% | -9.49% | -1.40% | 5.43% | 3.99% |
GSST Goldman Sachs Ultra Short Bond ETF | 1.72% | 5.20% | 6.01% | 6.08% | 0.13% | 0.05% | 1.74% | 2.64% |
Correlation
The correlation between MBSD and GSST is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2019 | 0.34 |
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Return for Risk
MBSD vs. GSST — Risk / Return Rank
MBSD
GSST
MBSD vs. GSST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Disciplined Duration MBS Index Fund (MBSD) and Goldman Sachs Ultra Short Bond ETF (GSST). 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.
| MBSD | GSST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.36 | ||
| Sortino ratioReturn per unit of downside risk | -13.99 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 3.76 | -2.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 29.18 | -27.05 |
| Martin ratioReturn relative to average drawdown | 6.39 | 179.40 | -173.01 |
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Drawdowns
MBSD vs. GSST - Drawdown Comparison
The maximum MBSD drawdown since its inception was -14.36%, which is greater than GSST's maximum drawdown of -3.51%. Use the drawdown chart below to compare losses from any high point for MBSD and GSST.
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Drawdown Indicators
| MBSD | GSST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -3.51% | -10.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -0.15% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -0.25% | -4.43% |
Max Drawdown (5Y)Largest decline over 5 years | -14.10% | -1.19% | -12.91% |
Max Drawdown (10Y)Largest decline over 10 years | -14.36% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | -0.02% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -0.16% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.03% | +0.69% |
Volatility
MBSD vs. GSST - Volatility Comparison
FlexShares Disciplined Duration MBS Index Fund (MBSD) has a higher volatility of 0.97% compared to Goldman Sachs Ultra Short Bond ETF (GSST) at 0.14%. This indicates that MBSD's price experiences larger fluctuations and is considered to be riskier than GSST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBSD | GSST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.14% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 0.41% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 0.59% | +2.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.16% | 0.63% | +4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 0.86% | +3.41% |
MBSD vs. GSST - Expense Ratio Comparison
MBSD has a 0.20% expense ratio, which is higher than GSST's 0.16% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MBSD vs. GSST - Dividend Comparison
MBSD's dividend yield for the trailing twelve months is around 4.19%, less than GSST's 4.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GSST Goldman Sachs Ultra Short Bond ETF | 4.31% | 4.56% | 5.45% | 4.98% | 1.97% | 0.71% | 1.12% | 1.66% | 0.00% | 0.00% | 0.00% | 0.00% |
MBSD FlexShares Disciplined Duration MBS Index Fund | 4.19% | 4.23% | 3.91% | 3.39% | 3.03% | 2.41% | 2.78% | 3.42% | 3.22% | 3.30% | 3.02% | 3.46% |
Frequently Asked Questions
MBSD and GSST have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBSD has higher volatility (0.97%) compared to GSST (0.14%). In terms of maximum drawdown, MBSD dropped -14.36% vs GSST's -3.51%.
On 5-year performance, GSST leads with 3.79% vs 0.71% for MBSD. On fees, GSST is cheaper at 0.16% per year. On volatility, GSST has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSST has performed better with a 3.79% return vs 0.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSST is cheaper with a 0.16% expense ratio, compared with 0.20% for MBSD.
GSST has the higher dividend yield at 4.31%, compared with 4.19% for MBSD.
MBSD is categorized as Mortgage Backed Securities, while GSST is Ultrashort Bond. They also come from different issuers: Northern Trust and Goldman Sachs. Their fees differ too: 0.20% for MBSD and 0.16% for GSST.
GSST currently has the higher Sharpe Ratio (7.68 vs 1.32), 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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