MBSD vs. JMTG

Last updated Jul 14, 2026

MBSD (FlexShares Disciplined Duration MBS Index Fund) and JMTG (JPMorgan Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. MBSD is passively managed, while JMTG is actively managed. Over the past year, MBSD returned 3.88% vs 5.00% for JMTG. Their correlation of 0.82 suggests significant overlap in exposure. MBSD charges 0.20%/yr vs 0.24%/yr for JMTG.

Performance

MBSD vs. JMTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Disciplined Duration MBS Index Fund (MBSD) and JPMorgan Mortgage-Backed Securities ETF (JMTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBSD achieves a 0.07% return, which is significantly lower than JMTG's 0.40% return.

MBSD

• 1D: -0.33%
• 1M: -0.53%
• 6M: -0.32%
• YTD: 0.07%
• 1Y: 3.88%
• 3Y*: 4.06%
• 5Y*: 0.56%
• 10Y*: 1.32%

JMTG

• 1D: -0.34%
• 1M: -0.41%
• 6M: 0.12%
• YTD: 0.40%
• 1Y: 5.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MBSD vs. JMTG - Yearly Performance Comparison

	2026 (YTD)	2025
MBSD FlexShares Disciplined Duration MBS Index Fund	0.07%	3.48%
JMTG JPMorgan Mortgage-Backed Securities ETF	0.40%	3.94%

Correlation

The correlation between MBSD and JMTG is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.82

The correlation between MBSD and JMTG has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.

Return for Risk

MBSD vs. JMTG — Risk / Return Rank

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

MBSD

MBSD Risk / Return Rank: 40
MBSD Sharpe Ratio Rank: 39
MBSD Sortino Ratio Rank: 39
MBSD Omega Ratio Rank: 37
MBSD Calmar Ratio Rank: 44
MBSD Martin Ratio Rank: 42

JMTG

JMTG Risk / Return Rank: 46
JMTG Sharpe Ratio Rank: 49
JMTG Sortino Ratio Rank: 51
JMTG Omega Ratio Rank: 47
JMTG Calmar Ratio Rank: 45
JMTG Martin Ratio Rank: 39

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.

MBSD vs. JMTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Disciplined Duration MBS Index Fund (MBSD) and JPMorgan Mortgage-Backed Securities ETF (JMTG). 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	JMTG	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.36	-0.23
Sortino ratio: Return per unit of downside risk	1.64	2.01	-0.37
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.79	1.81	-0.02
Martin ratio: Return relative to average drawdown	5.24	4.98	+0.25

MBSD vs. JMTG - Sharpe Ratio Comparison

The current MBSD Sharpe Ratio is 1.13, which is comparable to the JMTG Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of MBSD and JMTG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MBSD vs. JMTG - Drawdown Comparison

The maximum MBSD drawdown since its inception was -14.36%, which is greater than JMTG's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for MBSD and JMTG.

Drawdown Indicators

	MBSD	JMTG	Difference
Max Drawdown Largest peak-to-trough decline	-14.36%	-2.78%	-11.58%
Max Drawdown (1Y) Largest decline over 1 year	-2.17%	-2.78%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-4.59%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.10%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-14.36%	—	—
Current Drawdown Current decline from peak	-1.54%	-1.85%	+0.31%
Average Drawdown Average peak-to-trough decline	-2.80%	-0.75%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	1.01%	-0.27%

Volatility

MBSD vs. JMTG - Volatility Comparison

The current volatility for FlexShares Disciplined Duration MBS Index Fund (MBSD) is 1.03%, while JPMorgan Mortgage-Backed Securities ETF (JMTG) has a volatility of 1.22%. This indicates that MBSD experiences smaller price fluctuations and is considered to be less risky than JMTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSD	JMTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	1.22%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	2.89%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	3.70%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.17%	3.70%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.26%	3.70%	+0.56%

MBSD vs. JMTG - Expense Ratio Comparison

MBSD has a 0.20% expense ratio, which is lower than JMTG's 0.24% expense ratio. Despite the difference, 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. JMTG - Dividend Comparison

MBSD's dividend yield for the trailing twelve months is around 4.20%, less than JMTG's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMTG JPMorgan Mortgage-Backed Securities ETF	4.32%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MBSD FlexShares Disciplined Duration MBS Index Fund	4.20%	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

Can I hold both MBSD and JMTG in my portfolio?

MBSD and JMTG have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBSD or JMTG?

JMTG has higher volatility (1.22%) compared to MBSD (1.03%). In terms of maximum drawdown, MBSD dropped -14.36% vs JMTG's -2.78%.

Which ETF is better, MBSD or JMTG?

On 1-year performance, JMTG leads with 5.00% vs 3.88% for MBSD. On fees, MBSD is cheaper at 0.20% per year. On volatility, MBSD has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBSD or JMTG?

Over the 1-year period, JMTG has performed better with a 5.00% return vs 3.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSD or JMTG?

MBSD is cheaper with a 0.20% expense ratio, compared with 0.24% for JMTG.

Which ETF pays a higher dividend yield, MBSD or JMTG?

JMTG has the higher dividend yield at 4.32%, compared with 4.20% for MBSD.

What is the main difference between MBSD and JMTG?

They also come from different issuers: Northern Trust and JPMorgan. Their fees differ too: 0.20% for MBSD and 0.24% for JMTG.

Which has better risk-adjusted returns?

JMTG currently has the higher Sharpe Ratio (1.36 vs 1.13), 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.