MBSX vs. DARP

Last updated Aug 4, 2026

MBSX (Regan Fixed Rate MBS ETF) and DARP (Grizzle Growth ETF) are both exchange-traded funds - MBSX is a Mortgage Backed Securities fund actively managed by Regan, while DARP is a Large Cap Growth Equities fund actively managed by Grizzle. Both are actively managed. Over the past year, MBSX returned 9.16% vs 53.03% for DARP. Their -0.16 correlation means they have often moved in opposite directions in the past. MBSX charges 0.40%/yr vs 0.75%/yr for DARP.

Performance

MBSX vs. DARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Regan Fixed Rate MBS ETF (MBSX) and Grizzle Growth ETF (DARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBSX achieves a 5.39% return, which is significantly lower than DARP's 24.09% return.

MBSX

• 1D: 0.84%
• 1M: 0.82%
• 6M: -4.10%
• YTD: 5.39%
• 1Y: 9.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.23%

DARP

• 1D: 2.48%
• 1M: -1.50%
• 6M: 11.54%
• YTD: 24.09%
• 1Y: 53.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.92%

*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)
DARP Grizzle Growth ETF	$367.14K	$288.77K	$436.18K
MBSX Regan Fixed Rate MBS ETF	$146.22K	$105.02K	$106.65K

MBSX vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025
MBSX Regan Fixed Rate MBS ETF	5.39%	8.47%
DARP Grizzle Growth ETF	24.09%	60.82%

Correlation

The correlation between MBSX and DARP is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.20
Correlation (All Time) Calculated using the full available price history since May 1, 2025	-0.16

Return for Risk

MBSX vs. DARP — Risk / Return Rank

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

MBSX

MBSX Risk / Return Rank: 17
MBSX Sharpe Ratio Rank: 14
MBSX Sortino Ratio Rank: 18
MBSX Omega Ratio Rank: 23
MBSX Calmar Ratio Rank: 16
MBSX Martin Ratio Rank: 16

DARP

DARP Risk / Return Rank: 80
DARP Sharpe Ratio Rank: 82
DARP Sortino Ratio Rank: 74
DARP Omega Ratio Rank: 72
DARP Calmar Ratio Rank: 85
DARP Martin Ratio Rank: 86

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.

MBSX vs. DARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Fixed Rate MBS ETF (MBSX) and Grizzle Growth ETF (DARP). 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.

	MBSX	DARP	Difference
Sharpe ratio: Return per unit of total volatility	0.17	1.99	-1.82
Sortino ratio: Return per unit of downside risk	0.63	2.47	-1.84
Omega ratio: Gain probability vs. loss probability	1.11	1.31	-0.20
Calmar ratio: Return relative to maximum drawdown	0.33	3.38	-3.05
Martin ratio: Return relative to average drawdown	0.83	12.79	-11.96

MBSX vs. DARP - Sharpe Ratio Comparison

The current MBSX Sharpe Ratio is 0.17, which is lower than the DARP Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of MBSX and DARP, 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

MBSX vs. DARP - Drawdown Comparison

The maximum MBSX drawdown since its inception was -27.57%, smaller than the maximum DARP drawdown of -30.27%. Use the drawdown chart below to compare losses from any high point for MBSX and DARP.

Drawdown Indicators

	MBSX	DARP	Difference
Max Drawdown Largest peak-to-trough decline	-27.57%	-30.27%	+2.70%
Max Drawdown (1Y) Largest decline over 1 year	-27.57%	-15.76%	-11.81%
Current Drawdown Current decline from peak	-21.18%	-7.17%	-14.01%
Average Drawdown Average peak-to-trough decline	-8.17%	-4.72%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.08%	4.16%	+6.92%

Volatility

MBSX vs. DARP - Volatility Comparison

Regan Fixed Rate MBS ETF (MBSX) has a higher volatility of 10.90% compared to Grizzle Growth ETF (DARP) at 9.89%. This indicates that MBSX's price experiences larger fluctuations and is considered to be riskier than DARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSX	DARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.90%	9.89%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	52.85%	21.41%	+31.44%
Volatility (1Y) Calculated over the trailing 1-year period	55.38%	26.90%	+28.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.23%	26.84%	+26.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.23%	26.84%	+26.39%

MBSX vs. DARP - Expense Ratio Comparison

MBSX has a 0.40% expense ratio, which is lower than DARP's 0.75% expense ratio.

Dividends

MBSX vs. DARP - Dividend Comparison

MBSX's dividend yield for the trailing twelve months is around 3.56%, more than DARP's 0.35% yield.

Position	TTM	2025	2024	2023
DARP Grizzle Growth ETF	0.35%	0.43%	1.93%	0.32%
MBSX Regan Fixed Rate MBS ETF	3.56%	2.77%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MBSX and DARP in my portfolio?

MBSX and DARP have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBSX or DARP?

MBSX has higher volatility (10.90%) compared to DARP (9.89%). In terms of maximum drawdown, MBSX dropped -27.57% vs DARP's -30.27%.

Which ETF is better, MBSX or DARP?

On 1-year performance, DARP leads with 53.03% vs 9.16% for MBSX. On fees, MBSX is cheaper at 0.40% per year. On volatility, DARP has been the lower-risk option at 9.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBSX or DARP?

Over the 1-year period, DARP has performed better with a 53.03% return vs 9.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSX or DARP?

MBSX is cheaper with a 0.40% expense ratio, compared with 0.75% for DARP.

Which ETF pays a higher dividend yield, MBSX or DARP?

MBSX has the higher dividend yield at 3.56%, compared with 0.35% for DARP.

What is the main difference between MBSX and DARP?

MBSX is categorized as Mortgage Backed Securities, while DARP is Large Cap Growth Equities. They also come from different issuers: Regan and Grizzle. Their fees differ too: 0.40% for MBSX and 0.75% for DARP.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (1.99 vs 0.17), 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.