MBSX vs. EPU

Last updated Jun 24, 2026

MBSX (Regan Fixed Rate MBS ETF) and EPU (iShares MSCI Peru ETF) are both exchange-traded funds - MBSX is a Mortgage Backed Securities fund actively managed by Regan, while EPU is a Mid Cap Blend Equities fund tracking the MSCI All Peru Capped Index. MBSX is actively managed, while EPU is passively managed. Over the past year, MBSX returned 9.78% vs 83.34% for EPU. At a correlation of -0.12, they often move in opposite directions. MBSX charges 0.40%/yr vs 0.59%/yr for EPU.

Performance

MBSX vs. EPU - Performance Comparison

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

Returns By Period

In the year-to-date period, MBSX achieves a 5.41% return, which is significantly lower than EPU's 18.54% return.

MBSX

• 1D: 0.00%
• 1M: 5.91%
• YTD: 5.41%
• 6M: 5.11%
• 1Y: 9.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EPU

• 1D: -3.70%
• 1M: 3.83%
• YTD: 18.54%
• 6M: 17.84%
• 1Y: 83.34%
• 3Y*: 46.58%
• 5Y*: 29.75%
• 10Y*: 14.73%

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

MBSX vs. EPU - Yearly Performance Comparison

	2026 (YTD)	2025
MBSX Regan Fixed Rate MBS ETF	5.41%	8.47%
EPU iShares MSCI Peru ETF	18.54%	66.98%

Correlation

The correlation between MBSX and EPU is -0.10, 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	-0.10
Correlation (All Time) Calculated using the full available price history since May 1, 2025	-0.12

Return for Risk

MBSX vs. EPU — Risk / Return Rank

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

MBSX

MBSX Risk / Return Rank: 14
MBSX Sharpe Ratio Rank: 11
MBSX Sortino Ratio Rank: 14
MBSX Omega Ratio Rank: 19
MBSX Calmar Ratio Rank: 13
MBSX Martin Ratio Rank: 14

EPU

EPU Risk / Return Rank: 76
EPU Sharpe Ratio Rank: 87
EPU Sortino Ratio Rank: 73
EPU Omega Ratio Rank: 75
EPU Calmar Ratio Rank: 80
EPU Martin Ratio Rank: 66

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.

MBSX vs. EPU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Fixed Rate MBS ETF (MBSX) and iShares MSCI Peru ETF (EPU). 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	EPU	Difference
Sharpe ratio: Return per unit of total volatility	0.18	2.68	-2.50
Sortino ratio: Return per unit of downside risk	0.64	3.07	-2.43
Omega ratio: Gain probability vs. loss probability	1.12	1.42	-0.30
Calmar ratio: Return relative to maximum drawdown	0.36	4.02	-3.66
Martin ratio: Return relative to average drawdown	1.15	11.51	-10.35

MBSX vs. EPU - Sharpe Ratio Comparison

The current MBSX Sharpe Ratio is 0.18, which is lower than the EPU Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of MBSX and EPU, 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. EPU - Drawdown Comparison

The maximum MBSX drawdown since its inception was -27.57%, smaller than the maximum EPU drawdown of -60.62%. Use the drawdown chart below to compare losses from any high point for MBSX and EPU.

Drawdown Indicators

	MBSX	EPU	Difference
Max Drawdown Largest peak-to-trough decline	-27.57%	-60.62%	+33.05%
Max Drawdown (1Y) Largest decline over 1 year	-27.57%	-20.85%	-6.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.59%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.97%	—
Current Drawdown Current decline from peak	-21.16%	-8.61%	-12.55%
Average Drawdown Average peak-to-trough decline	-6.78%	-18.79%	+12.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.50%	7.27%	+1.23%

Volatility

MBSX vs. EPU - Volatility Comparison

Regan Fixed Rate MBS ETF (MBSX) has a higher volatility of 41.28% compared to iShares MSCI Peru ETF (EPU) at 12.75%. This indicates that MBSX's price experiences larger fluctuations and is considered to be riskier than EPU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSX	EPU	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.28%	12.75%	+28.53%
Volatility (6M) Calculated over the trailing 6-month period	52.02%	27.23%	+24.79%
Volatility (1Y) Calculated over the trailing 1-year period	54.80%	31.33%	+23.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.59%	25.12%	+29.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.59%	23.66%	+30.93%

MBSX vs. EPU - Expense Ratio Comparison

MBSX has a 0.40% expense ratio, which is lower than EPU's 0.59% expense ratio.

Dividends

MBSX vs. EPU - Dividend Comparison

MBSX's dividend yield for the trailing twelve months is around 3.38%, more than EPU's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPU iShares MSCI Peru ETF	2.02%	1.63%	5.78%	4.17%	5.56%	3.13%	1.91%	2.67%	1.53%	3.30%	0.85%	1.90%
MBSX Regan Fixed Rate MBS ETF	3.38%	2.77%	0.00%	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 MBSX and EPU in my portfolio?

MBSX and EPU have a correlation of -0.10, 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 EPU?

MBSX has higher volatility (41.28%) compared to EPU (12.75%). In terms of maximum drawdown, MBSX dropped -27.57% vs EPU's -60.62%.

Which ETF is better, MBSX or EPU?

On 1-year performance, EPU leads with 83.34% vs 9.78% for MBSX. On fees, MBSX is cheaper at 0.40% per year. On volatility, EPU has been the lower-risk option at 12.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBSX or EPU?

Over the 1-year period, EPU has performed better with a 83.34% return vs 9.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSX or EPU?

MBSX is cheaper with a 0.40% expense ratio, compared with 0.59% for EPU.

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

MBSX has the higher dividend yield at 3.38%, compared with 2.02% for EPU.

What is the main difference between MBSX and EPU?

MBSX is categorized as Mortgage Backed Securities, while EPU is Mid Cap Blend Equities. They also come from different issuers: Regan and iShares. Their fees differ too: 0.40% for MBSX and 0.59% for EPU.

Which has better risk-adjusted returns?

EPU currently has the higher Sharpe Ratio (2.67 vs 0.18), 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.