MBSX vs. MBB

Last updated Jun 23, 2026

MBSX (Regan Fixed Rate MBS ETF) and MBB (iShares MBS Bond ETF) are both Mortgage Backed Securities funds. MBSX is actively managed, while MBB is passively managed. Over the past year, MBSX returned 12.52% vs 5.95% for MBB. At a 0.04 correlation, their price movements are largely independent. MBSX charges 0.40%/yr vs 0.06%/yr for MBB.

Performance

MBSX vs. MBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Regan Fixed Rate MBS ETF (MBSX) and iShares MBS Bond ETF (MBB). 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 MBB's 0.73% return.

MBSX

• 1D: 3.16%
• 1M: 5.91%
• YTD: 5.41%
• 6M: 5.69%
• 1Y: 12.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBB

• 1D: -0.24%
• 1M: 0.53%
• YTD: 0.73%
• 6M: 0.86%
• 1Y: 5.95%
• 3Y*: 4.31%
• 5Y*: 0.42%
• 10Y*: 1.29%

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

MBSX vs. MBB - Yearly Performance Comparison

	2026 (YTD)	2025
MBSX Regan Fixed Rate MBS ETF	5.41%	8.47%
MBB iShares MBS Bond ETF	0.73%	4.82%

Correlation

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

Return for Risk

MBSX vs. MBB — Risk / Return Rank

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

MBSX

MBSX Risk / Return Rank: 15
MBSX Sharpe Ratio Rank: 12
MBSX Sortino Ratio Rank: 14
MBSX Omega Ratio Rank: 19
MBSX Calmar Ratio Rank: 14
MBSX Martin Ratio Rank: 16

MBB

MBB Risk / Return Rank: 40
MBB Sharpe Ratio Rank: 39
MBB Sortino Ratio Rank: 39
MBB Omega Ratio Rank: 37
MBB Calmar Ratio Rank: 42
MBB 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. MBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Regan Fixed Rate MBS ETF (MBSX) and iShares MBS Bond ETF (MBB). 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	MBB	Difference
Sharpe ratio: Return per unit of total volatility	0.23	1.34	-1.11
Sortino ratio: Return per unit of downside risk	0.71	1.97	-1.26
Omega ratio: Gain probability vs. loss probability	1.13	1.24	-0.11
Calmar ratio: Return relative to maximum drawdown	0.46	2.03	-1.57
Martin ratio: Return relative to average drawdown	1.49	6.36	-4.87

MBSX vs. MBB - Sharpe Ratio Comparison

The current MBSX Sharpe Ratio is 0.23, which is lower than the MBB Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of MBSX and MBB, 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. MBB - Drawdown Comparison

The maximum MBSX drawdown since its inception was -27.57%, which is greater than MBB's maximum drawdown of -17.64%. Use the drawdown chart below to compare losses from any high point for MBSX and MBB.

Drawdown Indicators

	MBSX	MBB	Difference
Max Drawdown Largest peak-to-trough decline	-27.57%	-17.64%	-9.93%
Max Drawdown (1Y) Largest decline over 1 year	-27.57%	-2.94%	-24.63%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.64%	—
Current Drawdown Current decline from peak	-21.16%	-1.38%	-19.78%
Average Drawdown Average peak-to-trough decline	-6.73%	-2.34%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.40%	0.94%	+7.46%

Volatility

MBSX vs. MBB - Volatility Comparison

Regan Fixed Rate MBS ETF (MBSX) has a higher volatility of 41.34% compared to iShares MBS Bond ETF (MBB) at 1.27%. This indicates that MBSX's price experiences larger fluctuations and is considered to be riskier than MBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBSX	MBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.34%	1.27%	+40.07%
Volatility (6M) Calculated over the trailing 6-month period	52.02%	3.33%	+48.69%
Volatility (1Y) Calculated over the trailing 1-year period	54.91%	4.47%	+50.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.69%	6.83%	+47.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.69%	5.32%	+49.37%

MBSX vs. MBB - Expense Ratio Comparison

MBSX has a 0.40% expense ratio, which is higher than MBB's 0.06% expense ratio.

Dividends

MBSX vs. MBB - Dividend Comparison

MBSX's dividend yield for the trailing twelve months is around 3.38%, less than MBB's 4.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBB iShares MBS Bond ETF	4.27%	4.21%	3.94%	3.40%	2.31%	1.05%	2.10%	2.77%	2.64%	2.23%	2.58%	2.66%
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 MBB in my portfolio?

MBSX and MBB have a correlation of 0.04, 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 MBB?

MBSX has higher volatility (41.34%) compared to MBB (1.27%). In terms of maximum drawdown, MBSX dropped -27.57% vs MBB's -17.64%.

Which ETF is better, MBSX or MBB?

On 1-year performance, MBSX leads with 12.52% vs 5.95% for MBB. On fees, MBB is cheaper at 0.06% per year. On volatility, MBB has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBSX or MBB?

Over the 1-year period, MBSX has performed better with a 12.52% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBSX or MBB?

MBB is cheaper with a 0.06% expense ratio, compared with 0.40% for MBSX.

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

MBB has the higher dividend yield at 4.27%, compared with 3.38% for MBSX.

What is the main difference between MBSX and MBB?

They also come from different issuers: Regan and iShares. Their fees differ too: 0.40% for MBSX and 0.06% for MBB.

Which has better risk-adjusted returns?

MBB currently has the higher Sharpe Ratio (1.34 vs 0.23), 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.