SECR vs. JMBS

Last updated Aug 4, 2026

SECR (NYLI MacKay Securitized Income ETF) and JMBS (Janus Henderson Mortgage-Backed Securities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Over the past year, SECR returned 2.87% vs 3.64% for JMBS. Their correlation of 0.89 means they have usually moved in the same direction. SECR charges 0.28%/yr vs 0.32%/yr for JMBS.

Performance

SECR vs. JMBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Securitized Income ETF (SECR) 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, SECR achieves a 0.24% return, which is significantly higher than JMBS's -0.27% return.

SECR

• 1D: 0.39%
• 1M: -0.68%
• 6M: -0.33%
• YTD: 0.24%
• 1Y: 2.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.87%

JMBS

• 1D: 0.20%
• 1M: -1.31%
• 6M: -0.59%
• YTD: -0.27%
• 1Y: 3.64%
• 3Y*: 4.74%
• 5Y*: 0.48%
• 10Y*: —
• ALL TIME*: 2.16%

*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)
JMBS Janus Henderson Mortgage-Backed Securities ETF	$30.70M	$28.03M	$29.90M
SECR NYLI MacKay Securitized Income ETF	$47.20K	$131.24K	$203.13K

SECR vs. JMBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SECR NYLI MacKay Securitized Income ETF	0.24%	7.85%	4.71%
JMBS Janus Henderson Mortgage-Backed Securities ETF	-0.27%	8.82%	3.79%

Correlation

The correlation between SECR and JMBS is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (All Time) Calculated using the full available price history since May 31, 2024	0.89

The correlation between SECR and JMBS has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

Return for Risk

SECR vs. JMBS — Risk / Return Rank

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

SECR

SECR Risk / Return Rank: 28
SECR Sharpe Ratio Rank: 29
SECR Sortino Ratio Rank: 27
SECR Omega Ratio Rank: 26
SECR Calmar Ratio Rank: 29
SECR Martin Ratio Rank: 28

JMBS

JMBS Risk / Return Rank: 33
JMBS Sharpe Ratio Rank: 35
JMBS Sortino Ratio Rank: 33
JMBS Omega Ratio Rank: 32
JMBS Calmar Ratio Rank: 34
JMBS Martin Ratio Rank: 34

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.

SECR vs. JMBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Securitized Income ETF (SECR) 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.

	SECR	JMBS	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.87	-0.12
Sortino ratio: Return per unit of downside risk	1.09	1.26	-0.17
Omega ratio: Gain probability vs. loss probability	1.13	1.15	-0.02
Calmar ratio: Return relative to maximum drawdown	0.98	1.20	-0.21
Martin ratio: Return relative to average drawdown	2.48	3.23	-0.75

SECR vs. JMBS - Sharpe Ratio Comparison

The current SECR Sharpe Ratio is 0.75, which is comparable to the JMBS Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of SECR 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

SECR vs. JMBS - Drawdown Comparison

The maximum SECR drawdown since its inception was -3.93%, smaller than the maximum JMBS drawdown of -16.68%. Use the drawdown chart below to compare losses from any high point for SECR and JMBS.

Drawdown Indicators

	SECR	JMBS	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-16.68%	+12.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-3.05%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.64%	—
Current Drawdown Current decline from peak	-2.04%	-2.41%	+0.37%
Average Drawdown Average peak-to-trough decline	-1.12%	-3.85%	+2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	1.13%	+0.03%

Volatility

SECR vs. JMBS - Volatility Comparison

NYLI MacKay Securitized Income ETF (SECR) and Janus Henderson Mortgage-Backed Securities ETF (JMBS) have volatilities of 1.13% and 1.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SECR	JMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	1.18%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	3.03%	3.48%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	4.21%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.57%	6.54%	-1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.57%	5.50%	-0.93%

SECR vs. JMBS - Expense Ratio Comparison

SECR has a 0.28% expense ratio, which is lower than JMBS's 0.32% expense ratio.

Dividends

SECR vs. JMBS - Dividend Comparison

SECR's dividend yield for the trailing twelve months is around 6.41%, more than JMBS's 5.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
JMBS Janus Henderson Mortgage-Backed Securities ETF	5.29%	5.03%	5.53%	4.38%	2.73%	1.16%	2.92%	3.63%	0.89%
SECR NYLI MacKay Securitized Income ETF	6.41%	6.68%	3.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SECR and JMBS in my portfolio?

SECR and JMBS have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SECR or JMBS?

JMBS has higher volatility (1.18%) compared to SECR (1.13%). In terms of maximum drawdown, SECR dropped -3.93% vs JMBS's -16.68%.

Which ETF is better, SECR or JMBS?

On 1-year performance, JMBS leads with 3.64% vs 2.87% for SECR. On fees, SECR is cheaper at 0.28% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SECR or JMBS?

Over the 1-year period, JMBS has performed better with a 3.64% return vs 2.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SECR or JMBS?

SECR is cheaper with a 0.28% expense ratio, compared with 0.32% for JMBS.

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

SECR has the higher dividend yield at 6.41%, compared with 5.29% for JMBS.

What is the main difference between SECR and JMBS?

They also come from different issuers: NYLI and Janus Henderson. Their fees differ too: 0.28% for SECR and 0.32% for JMBS.

Which has better risk-adjusted returns?

JMBS currently has the higher Sharpe Ratio (0.87 vs 0.75), 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.