MBSF vs. USLN

Last updated Jun 4, 2026

MBSF (Regan Floating Rate MBS ETF) and USLN (iShares Broad USD Floating Rate Loan ETF) are both Bank Loan funds. MBSF is actively managed, while USLN is passively managed. At a 0.08 correlation, their price movements are largely independent. MBSF charges 0.49%/yr vs 0.43%/yr for USLN.

Performance

MBSF vs. USLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Regan Floating Rate MBS ETF (MBSF) and iShares Broad USD Floating Rate Loan ETF (USLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MBSF

• 1D: 0.12%
• 1M: -0.03%
• YTD: 1.48%
• 6M: 2.16%
• 1Y: 5.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USLN

• 1D: -0.03%
• 1M: 0.58%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MBSF vs. USLN - Yearly Performance Comparison

	2026 (YTD)
MBSF Regan Floating Rate MBS ETF	0.28%
USLN iShares Broad USD Floating Rate Loan ETF	1.90%

Correlation

The correlation between MBSF and USLN is 0.08, 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 (All Time) Calculated using the full available price history since Mar 5, 2026	0.08

Return for Risk

MBSF vs. USLN — Risk / Return Rank

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

MBSF

MBSF Risk / Return Rank: 70
MBSF Sharpe Ratio Rank: 53
MBSF Sortino Ratio Rank: 59
MBSF Omega Ratio Rank: 55
MBSF Calmar Ratio Rank: 93
MBSF Martin Ratio Rank: 88

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. USLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Floating Rate MBS ETF (MBSF) and iShares Broad USD Floating Rate Loan ETF (USLN). 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	USLN	Difference
Sharpe ratio Return per unit of total volatility	1.79	—	—
Sortino ratio Return per unit of downside risk	2.77	—	—
Omega ratio Gain probability vs. loss probability	1.34	—	—
Calmar ratio Return relative to maximum drawdown	6.77	—	—
Martin ratio Return relative to average drawdown	19.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MBSF	USLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	3.07	-1.33

Drawdowns

MBSF vs. USLN - Drawdown Comparison

The maximum MBSF drawdown since its inception was -0.97%, which is greater than USLN's maximum drawdown of -0.75%. Use the drawdown chart below to compare losses from any high point for MBSF and USLN.

Drawdown Indicators

	MBSF	USLN	Difference
Max Drawdown Largest peak-to-trough decline	-0.97%	-0.75%	-0.22%
Max Drawdown (1Y) Largest decline over 1 year	-0.79%	—	—
Current Drawdown Current decline from peak	-0.10%	-0.03%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.23%	-0.22%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.28%	—	—

Volatility

Volatility by Period

	MBSF	USLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	2.62%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.34%	2.62%	+0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.34%	2.62%	+0.72%

MBSF vs. USLN - Expense Ratio Comparison

MBSF has a 0.49% expense ratio, which is higher than USLN's 0.43% expense ratio.

Dividends

MBSF vs. USLN - Dividend Comparison

MBSF's dividend yield for the trailing twelve months is around 4.49%, more than USLN's 1.54% yield.

Position	TTM	2025	2024
MBSF Regan Floating Rate MBS ETF	4.49%	4.71%	4.14%
USLN iShares Broad USD Floating Rate Loan ETF	1.54%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MBSF and USLN in my portfolio?

MBSF and USLN have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MBSF or USLN?

On fees, USLN is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MBSF or USLN?

USLN is cheaper with a 0.43% expense ratio, compared with 0.49% for MBSF.

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

MBSF has the higher dividend yield at 4.49%, compared with 1.54% for USLN.

What is the main difference between MBSF and USLN?

They also come from different issuers: Regan and iShares. Their fees differ too: 0.49% for MBSF and 0.43% for USLN.