MBSF vs. IGHG

Last updated Jun 5, 2026

MBSF (Regan Floating Rate MBS ETF) and IGHG (ProShares Investment Grade-Interest Rate Hedged) are both exchange-traded funds - MBSF is a Bank Loan fund actively managed by Regan, while IGHG is a Corporate Bonds fund tracking the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index. MBSF is actively managed, while IGHG is passively managed. Over the past year, MBSF returned 5.77% vs 6.08% for IGHG. At a correlation of -0.08, they often move in opposite directions. MBSF charges 0.49%/yr vs 0.30%/yr for IGHG.

Performance

MBSF vs. IGHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Regan Floating Rate MBS ETF (MBSF) and ProShares Investment Grade-Interest Rate Hedged (IGHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBSF achieves a 1.70% return, which is significantly lower than IGHG's 2.32% return.

MBSF

• 1D: 0.21%
• 1M: 0.11%
• YTD: 1.70%
• 6M: 2.56%
• 1Y: 5.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IGHG

• 1D: 0.15%
• 1M: 0.76%
• YTD: 2.32%
• 6M: 2.33%
• 1Y: 6.08%
• 3Y*: 8.68%
• 5Y*: 5.27%
• 10Y*: 4.79%

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

MBSF vs. IGHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MBSF Regan Floating Rate MBS ETF	1.70%	5.85%	5.71%
IGHG ProShares Investment Grade-Interest Rate Hedged	2.32%	5.65%	7.64%

Correlation

The correlation between MBSF and IGHG is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	-0.08

Return for Risk

MBSF vs. IGHG — Risk / Return Rank

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

MBSF

MBSF Risk / Return Rank: 74
MBSF Sharpe Ratio Rank: 58
MBSF Sortino Ratio Rank: 66
MBSF Omega Ratio Rank: 61
MBSF Calmar Ratio Rank: 94
MBSF Martin Ratio Rank: 90

IGHG

IGHG Risk / Return Rank: 61
IGHG Sharpe Ratio Rank: 52
IGHG Sortino Ratio Rank: 57
IGHG Omega Ratio Rank: 55
IGHG Calmar Ratio Rank: 71
IGHG Martin Ratio Rank: 68

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.

MBSF vs. IGHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Floating Rate MBS ETF (MBSF) and ProShares Investment Grade-Interest Rate Hedged (IGHG). 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.

	MBSF	IGHG	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.77	+0.16
Sortino ratio: Return per unit of downside risk	3.00	2.67	+0.34
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	7.32	3.49	+3.84
Martin ratio: Return relative to average drawdown	20.77	12.35	+8.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MBSF vs. IGHG - Sharpe Ratio Comparison

The current MBSF Sharpe Ratio is 1.94, which is comparable to the IGHG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of MBSF and IGHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MBSF	IGHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.77	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	0.54	+1.23

Drawdowns

MBSF vs. IGHG - Drawdown Comparison

The maximum MBSF drawdown since its inception was -0.97%, smaller than the maximum IGHG drawdown of -25.16%. Use the drawdown chart below to compare losses from any high point for MBSF and IGHG.

Drawdown Indicators

	MBSF	IGHG	Difference
Max Drawdown Largest peak-to-trough decline	-0.97%	-25.16%	+24.19%
Max Drawdown (1Y) Largest decline over 1 year	-0.79%	-1.75%	+0.96%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.16%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.23%	-2.30%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	0.49%	-0.21%

Volatility

MBSF vs. IGHG - Volatility Comparison

Regan Floating Rate MBS ETF (MBSF) has a higher volatility of 0.67% compared to ProShares Investment Grade-Interest Rate Hedged (IGHG) at 0.62%. This indicates that MBSF's price experiences larger fluctuations and is considered to be riskier than IGHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSF	IGHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.62%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.15%	2.53%	-0.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	3.44%	-0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.34%	5.02%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.34%	7.46%	-4.12%

MBSF vs. IGHG - Expense Ratio Comparison

MBSF has a 0.49% expense ratio, which is higher than IGHG's 0.30% expense ratio.

Dividends

MBSF vs. IGHG - Dividend Comparison

MBSF's dividend yield for the trailing twelve months is around 4.48%, less than IGHG's 5.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGHG ProShares Investment Grade-Interest Rate Hedged	5.11%	5.14%	5.06%	4.99%	3.55%	2.50%	2.79%	3.48%	4.13%	3.36%	3.37%	3.65%
MBSF Regan Floating Rate MBS ETF	4.48%	4.71%	4.14%	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 MBSF and IGHG in my portfolio?

MBSF and IGHG have a correlation of -0.14, 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 IGHG?

MBSF has higher volatility (0.67%) compared to IGHG (0.62%). In terms of maximum drawdown, MBSF dropped -0.97% vs IGHG's -25.16%.

Which ETF is better, MBSF or IGHG?

On 1-year performance, IGHG leads with 6.08% vs 5.77% for MBSF. On fees, IGHG is cheaper at 0.30% 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 IGHG?

Over the 1-year period, IGHG has performed better with a 6.08% return vs 5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSF or IGHG?

IGHG is cheaper with a 0.30% expense ratio, compared with 0.49% for MBSF.

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

IGHG has the higher dividend yield at 5.11%, compared with 4.48% for MBSF.

What is the main difference between MBSF and IGHG?

MBSF is categorized as Bank Loan, while IGHG is Corporate Bonds. They also come from different issuers: Regan and ProShares. Their fees differ too: 0.49% for MBSF and 0.30% for IGHG.

Which has better risk-adjusted returns?

MBSF currently has the higher Sharpe Ratio (1.94 vs 1.77), 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.