MBSD vs. VRIG
MBSD (FlexShares Disciplined Duration MBS Index Fund) and VRIG (Invesco Variable Rate Investment Grade ETF) are both exchange-traded funds - MBSD is a Mortgage Backed Securities fund tracking the ICE BofA Constrained Duration US Mortgage Backed Securities, while VRIG is a Ultrashort Bond fund actively managed by Invesco. MBSD is passively managed, while VRIG is actively managed. Over the past 5 years, MBSD returned 0.71%/yr vs 4.47%/yr for VRIG. At a 0.02 correlation, their price movements are largely independent. MBSD charges 0.20%/yr vs 0.30%/yr for VRIG.
Performance
MBSD vs. VRIG - 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 VRIG's 2.06% 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%
VRIG
- 1D
- 0.05%
- 1M
- 0.39%
- YTD
- 2.06%
- 6M
- 2.22%
- 1Y
- 4.92%
- 3Y*
- 5.92%
- 5Y*
- 4.47%
- 10Y*
- —
MBSD vs. VRIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBSD FlexShares Disciplined Duration MBS Index Fund | 0.51% | 7.12% | 2.30% | 4.46% | -9.49% | -1.40% | 5.43% | 6.05% | 0.32% | 0.86% |
VRIG Invesco Variable Rate Investment Grade ETF | 2.06% | 5.05% | 6.81% | 7.37% | 0.99% | 1.06% | 1.76% | 4.57% | 0.51% | 3.20% |
Correlation
The correlation between MBSD and VRIG is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.02 |
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Return for Risk
MBSD vs. VRIG — Risk / Return Rank
MBSD
VRIG
MBSD vs. VRIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Disciplined Duration MBS Index Fund (MBSD) and Invesco Variable Rate Investment Grade ETF (VRIG). 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 | VRIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -8.78 | ||
| Sortino ratioReturn per unit of downside risk | -22.28 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 5.32 | -4.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 61.80 | -59.67 |
| Martin ratioReturn relative to average drawdown | 6.39 | 315.78 | -309.39 |
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Drawdowns
MBSD vs. VRIG - Drawdown Comparison
The maximum MBSD drawdown since its inception was -14.36%, which is greater than VRIG's maximum drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for MBSD and VRIG.
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Drawdown Indicators
| MBSD | VRIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -13.04% | -1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -0.08% | -2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -0.78% | -3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -14.10% | -2.28% | -11.82% |
Max Drawdown (10Y)Largest decline over 10 years | -14.36% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | 0.00% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -0.27% | -2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 0.02% | +0.70% |
Volatility
MBSD vs. VRIG - Volatility Comparison
FlexShares Disciplined Duration MBS Index Fund (MBSD) has a higher volatility of 0.97% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.11%. This indicates that MBSD's price experiences larger fluctuations and is considered to be riskier than VRIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBSD | VRIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.11% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 0.36% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 0.49% | +3.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.16% | 1.29% | +3.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.27% | 3.79% | +0.48% |
MBSD vs. VRIG - Expense Ratio Comparison
MBSD has a 0.20% expense ratio, which is lower than VRIG's 0.30% expense ratio.
Dividends
MBSD vs. VRIG - Dividend Comparison
MBSD's dividend yield for the trailing twelve months is around 4.19%, less than VRIG's 5.17% 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% |
VRIG Invesco Variable Rate Investment Grade ETF | 5.17% | 4.99% | 6.09% | 5.97% | 2.39% | 0.78% | 1.57% | 3.12% | 2.89% | 2.31% | 0.60% | 0.00% |
Frequently Asked Questions
MBSD and VRIG have a correlation of -0.02, 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 VRIG (0.11%). In terms of maximum drawdown, MBSD dropped -14.36% vs VRIG's -13.04%.
On 5-year performance, VRIG leads with 4.47% vs 0.71% for MBSD. On fees, MBSD is cheaper at 0.20% per year. On volatility, VRIG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VRIG has performed better with a 4.47% return vs 0.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBSD is cheaper with a 0.20% expense ratio, compared with 0.30% for VRIG.
VRIG has the higher dividend yield at 5.17%, compared with 4.19% for MBSD.
MBSD is categorized as Mortgage Backed Securities, while VRIG is Ultrashort Bond. They also come from different issuers: Northern Trust and Invesco. Their fees differ too: 0.20% for MBSD and 0.30% for VRIG.
VRIG currently has the higher Sharpe Ratio (10.11 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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