OWNS vs. LMBS

Last updated Jun 5, 2026

OWNS (CCM Affordable Housing MBS ETF) and LMBS (First Trust Low Duration Mortgage Opportunities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Over the past year, OWNS returned 6.23% vs 5.89% for LMBS. A 0.76 correlation means they provide meaningful diversification when combined. OWNS charges 0.30%/yr vs 0.68%/yr for LMBS.

Performance

OWNS vs. LMBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CCM Affordable Housing MBS ETF (OWNS) and First Trust Low Duration Mortgage Opportunities ETF (LMBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OWNS achieves a 0.36% return, which is significantly lower than LMBS's 1.30% return.

OWNS

• 1D: -0.12%
• 1M: 0.12%
• YTD: 0.36%
• 6M: 0.78%
• 1Y: 6.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LMBS

• 1D: 0.06%
• 1M: 0.21%
• YTD: 1.30%
• 6M: 1.63%
• 1Y: 5.89%
• 3Y*: 5.74%
• 5Y*: 3.04%
• 10Y*: 2.73%

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

OWNS vs. LMBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OWNS CCM Affordable Housing MBS ETF	0.36%	7.75%	3.84%
LMBS First Trust Low Duration Mortgage Opportunities ETF	1.30%	7.05%	4.95%

Correlation

The correlation between OWNS and LMBS is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 19, 2024	0.76

The correlation between OWNS and LMBS has been stable across timeframes, ranging from 0.76 to 0.76 - a consistent structural relationship.

Return for Risk

OWNS vs. LMBS — Risk / Return Rank

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

OWNS

OWNS Risk / Return Rank: 40
OWNS Sharpe Ratio Rank: 40
OWNS Sortino Ratio Rank: 41
OWNS Omega Ratio Rank: 41
OWNS Calmar Ratio Rank: 42
OWNS Martin Ratio Rank: 38

LMBS

LMBS Risk / Return Rank: 88
LMBS Sharpe Ratio Rank: 89
LMBS Sortino Ratio Rank: 93
LMBS Omega Ratio Rank: 91
LMBS Calmar Ratio Rank: 81
LMBS Martin Ratio Rank: 85

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.

OWNS vs. LMBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CCM Affordable Housing MBS ETF (OWNS) and First Trust Low Duration Mortgage Opportunities ETF (LMBS). 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.

	OWNS	LMBS	Difference
Sharpe ratio: Return per unit of total volatility	1.39	3.02	-1.63
Sortino ratio: Return per unit of downside risk	2.05	4.64	-2.59
Omega ratio: Gain probability vs. loss probability	1.26	1.60	-0.34
Calmar ratio: Return relative to maximum drawdown	2.06	4.14	-2.08
Martin ratio: Return relative to average drawdown	5.99	17.66	-11.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OWNS vs. LMBS - Sharpe Ratio Comparison

The current OWNS Sharpe Ratio is 1.39, which is lower than the LMBS Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of OWNS and LMBS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OWNS	LMBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	3.02	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.19	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.13	-0.13

Drawdowns

OWNS vs. LMBS - Drawdown Comparison

The maximum OWNS drawdown since its inception was -5.39%, smaller than the maximum LMBS drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for OWNS and LMBS.

Drawdown Indicators

	OWNS	LMBS	Difference
Max Drawdown Largest peak-to-trough decline	-5.39%	-6.49%	+1.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.03%	-1.43%	-1.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-1.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-6.49%	—
Current Drawdown Current decline from peak	-1.67%	-0.28%	-1.39%
Average Drawdown Average peak-to-trough decline	-1.55%	-0.80%	-0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	0.33%	+0.71%

Volatility

OWNS vs. LMBS - Volatility Comparison

CCM Affordable Housing MBS ETF (OWNS) has a higher volatility of 1.46% compared to First Trust Low Duration Mortgage Opportunities ETF (LMBS) at 0.68%. This indicates that OWNS's price experiences larger fluctuations and is considered to be riskier than LMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OWNS	LMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	0.68%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	3.06%	1.45%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	4.55%	1.97%	+2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	2.56%	+2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.39%	2.36%	+3.03%

OWNS vs. LMBS - Expense Ratio Comparison

OWNS has a 0.30% expense ratio, which is lower than LMBS's 0.68% expense ratio.

Dividends

OWNS vs. LMBS - Dividend Comparison

OWNS's dividend yield for the trailing twelve months is around 4.31%, more than LMBS's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMBS First Trust Low Duration Mortgage Opportunities ETF	4.10%	4.08%	4.28%	3.96%	2.22%	2.04%	2.27%	2.55%	2.76%	2.73%	2.84%	3.03%
OWNS CCM Affordable Housing MBS ETF	4.31%	4.12%	3.75%	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 OWNS and LMBS in my portfolio?

OWNS and LMBS have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OWNS or LMBS?

OWNS has higher volatility (1.46%) compared to LMBS (0.68%). In terms of maximum drawdown, OWNS dropped -5.39% vs LMBS's -6.49%.

Which ETF is better, OWNS or LMBS?

On 1-year performance, OWNS leads with 6.23% vs 5.89% for LMBS. On fees, OWNS is cheaper at 0.30% per year. On volatility, LMBS has been the lower-risk option at 0.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OWNS or LMBS?

Over the 1-year period, OWNS has performed better with a 6.23% return vs 5.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OWNS or LMBS?

OWNS is cheaper with a 0.30% expense ratio, compared with 0.68% for LMBS.

Which ETF pays a higher dividend yield, OWNS or LMBS?

OWNS has the higher dividend yield at 4.31%, compared with 4.10% for LMBS.

What is the main difference between OWNS and LMBS?

They also come from different issuers: CCM and First Trust. Their fees differ too: 0.30% for OWNS and 0.68% for LMBS.

Which has better risk-adjusted returns?

LMBS currently has the higher Sharpe Ratio (3.02 vs 1.39), 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.