MBSF vs. CLOZ

Last updated Aug 2, 2026

MBSF (Regan Floating Rate MBS ETF) and CLOZ (Eldridge BBB-B CLO ETF) are both exchange-traded funds - MBSF is a Bank Loan fund actively managed by Regan, while CLOZ is a CLO fund actively managed by Eldridge. Both are actively managed. Over the past year, MBSF returned 5.30% vs 6.00% for CLOZ. Their 0.03 correlation means their historical movements had little consistent relationship. MBSF charges 0.49%/yr vs 0.50%/yr for CLOZ.

Performance

MBSF vs. CLOZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Regan Floating Rate MBS ETF (MBSF) and Eldridge BBB-B CLO ETF (CLOZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBSF achieves a 2.30% return, which is significantly lower than CLOZ's 3.25% return.

MBSF

• 1D: -0.13%
• 1M: 0.25%
• 6M: 1.88%
• YTD: 2.30%
• 1Y: 5.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.74%

CLOZ

• 1D: -0.02%
• 1M: 0.23%
• 6M: 2.09%
• YTD: 3.25%
• 1Y: 6.00%
• 3Y*: 9.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.21%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CLOZ Eldridge BBB-B CLO ETF	$8.19M	$11.37M	$8.55M
MBSF Regan Floating Rate MBS ETF	$1.54M	$1.34M	$1.61M

MBSF vs. CLOZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MBSF Regan Floating Rate MBS ETF	2.30%	5.85%	5.71%
CLOZ Eldridge BBB-B CLO ETF	3.25%	5.99%	9.75%

Correlation

The correlation between MBSF and CLOZ is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.00
Correlation (All Time) Calculated using the full available price history since Feb 28, 2024	0.03

Return for Risk

MBSF vs. CLOZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MBSF

MBSF Risk / Return Rank: 85
MBSF Sharpe Ratio Rank: 76
MBSF Sortino Ratio Rank: 82
MBSF Omega Ratio Rank: 79
MBSF Calmar Ratio Rank: 96
MBSF Martin Ratio Rank: 95

CLOZ

CLOZ Risk / Return Rank: 63
CLOZ Sharpe Ratio Rank: 74
CLOZ Sortino Ratio Rank: 65
CLOZ Omega Ratio Rank: 90
CLOZ Calmar Ratio Rank: 43
CLOZ Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MBSF vs. CLOZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Floating Rate MBS ETF (MBSF) and Eldridge BBB-B CLO ETF (CLOZ). 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.

	MBSF	CLOZ	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.68	+0.06
Sortino ratio: Return per unit of downside risk	2.68	2.15	+0.53
Omega ratio: Gain probability vs. loss probability	1.33	1.41	-0.08
Calmar ratio: Return relative to maximum drawdown	6.25	1.50	+4.75
Martin ratio: Return relative to average drawdown	19.49	4.99	+14.51

MBSF vs. CLOZ - Sharpe Ratio Comparison

The current MBSF Sharpe Ratio is 1.74, which is comparable to the CLOZ Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of MBSF and CLOZ, 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

MBSF vs. CLOZ - Drawdown Comparison

The maximum MBSF drawdown since its inception was -0.97%, smaller than the maximum CLOZ drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for MBSF and CLOZ.

Drawdown Indicators

	MBSF	CLOZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.97%	-5.32%	+4.35%
Max Drawdown (1Y) Largest decline over 1 year	-0.79%	-3.90%	+3.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.32%	—
Current Drawdown Current decline from peak	-0.13%	-0.02%	-0.11%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.37%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.17%	-0.91%

Volatility

MBSF vs. CLOZ - Volatility Comparison

The current volatility for Regan Floating Rate MBS ETF (MBSF) is 0.62%, while Eldridge BBB-B CLO ETF (CLOZ) has a volatility of 0.69%. This indicates that MBSF experiences smaller price fluctuations and is considered to be less risky than CLOZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSF	CLOZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	0.69%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.07%	3.20%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	2.85%	3.50%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	3.75%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.26%	3.75%	-0.49%

MBSF vs. CLOZ - Expense Ratio Comparison

MBSF has a 0.49% expense ratio, which is lower than CLOZ's 0.50% expense ratio.

Dividends

MBSF vs. CLOZ - Dividend Comparison

MBSF's dividend yield for the trailing twelve months is around 4.43%, less than CLOZ's 7.30% yield.

Position	TTM	2025	2024	2023
CLOZ Eldridge BBB-B CLO ETF	7.30%	7.63%	9.09%	8.81%
MBSF Regan Floating Rate MBS ETF	4.43%	4.71%	4.14%	0.00%

Frequently Asked Questions

Can I hold both MBSF and CLOZ in my portfolio?

MBSF and CLOZ have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBSF or CLOZ?

CLOZ has higher volatility (0.69%) compared to MBSF (0.62%). In terms of maximum drawdown, MBSF dropped -0.97% vs CLOZ's -5.32%.

Which ETF is better, MBSF or CLOZ?

On 1-year performance, CLOZ leads with 6.00% vs 5.30% for MBSF. On fees, MBSF is cheaper at 0.49% 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, MBSF or CLOZ?

Over the 1-year period, CLOZ has performed better with a 6.00% return vs 5.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSF or CLOZ?

MBSF is cheaper with a 0.49% expense ratio, compared with 0.50% for CLOZ.

Which ETF pays a higher dividend yield, MBSF or CLOZ?

CLOZ has the higher dividend yield at 7.30%, compared with 4.43% for MBSF.

What is the main difference between MBSF and CLOZ?

MBSF is categorized as Bank Loan, while CLOZ is CLO. They also come from different issuers: Regan and Eldridge. Their fees differ too: 0.49% for MBSF and 0.50% for CLOZ.

Which has better risk-adjusted returns?

MBSF currently has the higher Sharpe Ratio (1.74 vs 1.68), 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.