MBSX vs. JMBS

Last updated Jun 24, 2026

MBSX (Regan Fixed Rate MBS ETF) and JMBS (Janus Henderson Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Over the past year, MBSX returned 9.78% vs 6.23% for JMBS. At a 0.04 correlation, their price movements are largely independent. MBSX charges 0.40%/yr vs 0.32%/yr for JMBS.

Performance

MBSX vs. JMBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Regan Fixed Rate MBS ETF (MBSX) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). 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 higher than JMBS's 0.77% return.

MBSX

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

JMBS

• 1D: 0.16%
• 1M: 0.58%
• YTD: 0.77%
• 6M: 0.88%
• 1Y: 6.23%
• 3Y*: 4.68%
• 5Y*: 0.82%
• 10Y*: —

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

MBSX vs. JMBS - Yearly Performance Comparison

	2026 (YTD)	2025
MBSX Regan Fixed Rate MBS ETF	5.41%	8.47%
JMBS Janus Henderson Mortgage-Backed Securities ETF	0.77%	5.26%

Correlation

The correlation between MBSX and JMBS is 0.03, 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	0.03
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.04

Return for Risk

MBSX vs. JMBS — 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

JMBS

JMBS Risk / Return Rank: 44
JMBS Sharpe Ratio Rank: 44
JMBS Sortino Ratio Rank: 46
JMBS Omega Ratio Rank: 43
JMBS Calmar Ratio Rank: 43
JMBS Martin Ratio Rank: 41

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. JMBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Fixed Rate MBS ETF (MBSX) and Janus Henderson Mortgage-Backed Securities ETF (JMBS). 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	JMBS	Difference
Sharpe ratio: Return per unit of total volatility	0.18	1.47	-1.29
Sortino ratio: Return per unit of downside risk	0.64	2.18	-1.54
Omega ratio: Gain probability vs. loss probability	1.12	1.27	-0.15
Calmar ratio: Return relative to maximum drawdown	0.36	2.05	-1.69
Martin ratio: Return relative to average drawdown	1.15	6.37	-5.21

MBSX vs. JMBS - Sharpe Ratio Comparison

The current MBSX Sharpe Ratio is 0.18, which is lower than the JMBS Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of MBSX and JMBS, 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. JMBS - Drawdown Comparison

The maximum MBSX drawdown since its inception was -27.57%, which is greater than JMBS's maximum drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for MBSX and JMBS.

Drawdown Indicators

	MBSX	JMBS	Difference
Max Drawdown Largest peak-to-trough decline	-27.57%	-16.68%	-10.89%
Max Drawdown (1Y) Largest decline over 1 year	-27.57%	-3.05%	-24.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.68%	—
Current Drawdown Current decline from peak	-21.16%	-1.39%	-19.77%
Average Drawdown Average peak-to-trough decline	-6.78%	-3.88%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.50%	0.98%	+7.52%

Volatility

MBSX vs. JMBS - Volatility Comparison

Regan Fixed Rate MBS ETF (MBSX) has a higher volatility of 41.28% compared to Janus Henderson Mortgage-Backed Securities ETF (JMBS) at 1.33%. This indicates that MBSX's price experiences larger fluctuations and is considered to be riskier than JMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSX	JMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.28%	1.33%	+39.95%
Volatility (6M) Calculated over the trailing 6-month period	52.02%	3.35%	+48.67%
Volatility (1Y) Calculated over the trailing 1-year period	54.80%	4.26%	+50.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.59%	6.51%	+48.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.59%	5.52%	+49.07%

MBSX vs. JMBS - Expense Ratio Comparison

MBSX has a 0.40% expense ratio, which is higher than JMBS's 0.32% expense ratio.

Dividends

MBSX vs. JMBS - Dividend Comparison

MBSX's dividend yield for the trailing twelve months is around 3.38%, less than JMBS's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMBS Janus Henderson Mortgage-Backed Securities ETF	5.18%	5.03%	5.53%	4.38%	2.73%	1.16%	2.92%	3.63%	0.89%
MBSX Regan Fixed Rate MBS ETF	3.38%	2.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MBSX and JMBS in my portfolio?

MBSX and JMBS have a correlation of 0.03, 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 JMBS?

MBSX has higher volatility (41.28%) compared to JMBS (1.33%). In terms of maximum drawdown, MBSX dropped -27.57% vs JMBS's -16.68%.

Which ETF is better, MBSX or JMBS?

On 1-year performance, MBSX leads with 9.78% vs 6.23% for JMBS. On fees, JMBS is cheaper at 0.32% per year. On volatility, JMBS has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBSX or JMBS?

Over the 1-year period, MBSX has performed better with a 9.78% return vs 6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSX or JMBS?

JMBS is cheaper with a 0.32% expense ratio, compared with 0.40% for MBSX.

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

JMBS has the higher dividend yield at 5.18%, compared with 3.38% for MBSX.

What is the main difference between MBSX and JMBS?

They also come from different issuers: Regan and Janus Henderson. Their fees differ too: 0.40% for MBSX and 0.32% for JMBS.

Which has better risk-adjusted returns?

JMBS currently has the higher Sharpe Ratio (1.47 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.