MBSD vs. SECR

Last updated Jun 24, 2026

MBSD (FlexShares Disciplined Duration MBS Index Fund) and SECR (NYLI MacKay Securitized Income ETF) are both Mortgage Backed Securities funds. MBSD is passively managed, while SECR is actively managed. Over the past year, MBSD returned 4.57% vs 4.28% for SECR. A 0.79 correlation means they provide meaningful diversification when combined. MBSD charges 0.20%/yr vs 0.28%/yr for SECR.

Performance

MBSD vs. SECR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Disciplined Duration MBS Index Fund (MBSD) and NYLI MacKay Securitized Income ETF (SECR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBSD achieves a 0.60% return, which is significantly lower than SECR's 0.72% return.

MBSD

• 1D: 0.09%
• 1M: 0.45%
• YTD: 0.60%
• 6M: 0.67%
• 1Y: 4.57%
• 3Y*: 4.26%
• 5Y*: 0.72%
• 10Y*: 1.38%

SECR

• 1D: 0.10%
• 1M: 0.52%
• YTD: 0.72%
• 6M: 0.80%
• 1Y: 4.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MBSD vs. SECR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MBSD FlexShares Disciplined Duration MBS Index Fund	0.60%	7.12%	3.08%
SECR NYLI MacKay Securitized Income ETF	0.72%	7.85%	4.71%

Correlation

The correlation between MBSD and SECR is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since May 31, 2024	0.79

The correlation between MBSD and SECR has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

MBSD vs. SECR — 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: 40
MBSD Omega Ratio Rank: 37
MBSD Calmar Ratio Rank: 45
MBSD Martin Ratio Rank: 41

SECR

SECR Risk / Return Rank: 32
SECR Sharpe Ratio Rank: 33
SECR Sortino Ratio Rank: 32
SECR Omega Ratio Rank: 31
SECR Calmar Ratio Rank: 31
SECR Martin Ratio Rank: 31

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. SECR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Disciplined Duration MBS Index Fund (MBSD) and NYLI MacKay Securitized Income ETF (SECR). 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	SECR	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.09	+0.22
Sortino ratio: Return per unit of downside risk	1.93	1.62	+0.31
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.04
Calmar ratio: Return relative to maximum drawdown	2.11	1.46	+0.65
Martin ratio: Return relative to average drawdown	6.31	4.12	+2.20

MBSD vs. SECR - Sharpe Ratio Comparison

The current MBSD Sharpe Ratio is 1.31, which is comparable to the SECR Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of MBSD and SECR, 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. SECR - Drawdown Comparison

The maximum MBSD drawdown since its inception was -14.36%, which is greater than SECR's maximum drawdown of -3.93%. Use the drawdown chart below to compare losses from any high point for MBSD and SECR.

Drawdown Indicators

	MBSD	SECR	Difference
Max Drawdown Largest peak-to-trough decline	-14.36%	-3.93%	-10.43%
Max Drawdown (1Y) Largest decline over 1 year	-2.17%	-2.94%	+0.77%
Max Drawdown (3Y) Largest decline over 3 years	-4.68%	—	—
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	-1.02%	-1.57%	+0.55%
Average Drawdown Average peak-to-trough decline	-2.81%	-1.09%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.04%	-0.32%

Volatility

MBSD vs. SECR - Volatility Comparison

FlexShares Disciplined Duration MBS Index Fund (MBSD) and NYLI MacKay Securitized Income ETF (SECR) have volatilities of 0.97% and 1.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSD	SECR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	1.00%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.51%	2.88%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	3.49%	3.95%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.16%	4.61%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.27%	4.61%	-0.34%

MBSD vs. SECR - Expense Ratio Comparison

MBSD has a 0.20% expense ratio, which is lower than SECR's 0.28% expense ratio.

Dividends

MBSD vs. SECR - Dividend Comparison

MBSD's dividend yield for the trailing twelve months is around 4.19%, less than SECR's 6.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SECR NYLI MacKay Securitized Income ETF	6.28%	6.68%	3.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MBSD and SECR in my portfolio?

MBSD and SECR have a correlation of 0.78, 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 SECR?

SECR has higher volatility (1.00%) compared to MBSD (0.97%). In terms of maximum drawdown, MBSD dropped -14.36% vs SECR's -3.93%.

Which ETF is better, MBSD or SECR?

On 1-year performance, MBSD leads with 4.57% vs 4.28% for SECR. On fees, MBSD is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBSD or SECR?

Over the 1-year period, MBSD has performed better with a 4.57% return vs 4.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSD or SECR?

MBSD is cheaper with a 0.20% expense ratio, compared with 0.28% for SECR.

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

SECR has the higher dividend yield at 6.28%, compared with 4.19% for MBSD.

What is the main difference between MBSD and SECR?

They also come from different issuers: Northern Trust and NYLI. Their fees differ too: 0.20% for MBSD and 0.28% for SECR.

Which has better risk-adjusted returns?

MBSD currently has the higher Sharpe Ratio (1.31 vs 1.09), 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.