SECR vs. LMBS

Last updated Jun 4, 2026

SECR (NYLI MacKay Securitized Income ETF) and LMBS (First Trust Low Duration Mortgage Opportunities ETF) are both Mortgage Backed Securities funds. Both are actively managed. Over the past year, SECR returned 5.25% vs 6.09% for LMBS. A 0.79 correlation means they provide meaningful diversification when combined. SECR charges 0.28%/yr vs 0.68%/yr for LMBS.

Performance

SECR vs. LMBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Securitized Income ETF (SECR) 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, SECR achieves a 0.66% return, which is significantly lower than LMBS's 1.24% return.

SECR

• 1D: -0.08%
• 1M: 0.28%
• YTD: 0.66%
• 6M: 0.58%
• 1Y: 5.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

LMBS

• 1D: -0.10%
• 1M: 0.11%
• YTD: 1.24%
• 6M: 1.47%
• 1Y: 6.09%
• 3Y*: 5.73%
• 5Y*: 3.03%
• 10Y*: 2.67%

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

SECR vs. LMBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SECR NYLI MacKay Securitized Income ETF	0.66%	7.85%	4.71%
LMBS First Trust Low Duration Mortgage Opportunities ETF	1.24%	7.05%	3.96%

Correlation

The correlation between SECR and LMBS is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024	0.79

The correlation between SECR and LMBS has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

SECR vs. LMBS — Risk / Return Rank

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

SECR

SECR Risk / Return Rank: 37
SECR Sharpe Ratio Rank: 38
SECR Sortino Ratio Rank: 39
SECR Omega Ratio Rank: 37
SECR Calmar Ratio Rank: 37
SECR Martin Ratio Rank: 36

LMBS

LMBS Risk / Return Rank: 88
LMBS Sharpe Ratio Rank: 90
LMBS Sortino Ratio Rank: 93
LMBS Omega Ratio Rank: 92
LMBS Calmar Ratio Rank: 81
LMBS Martin Ratio Rank: 86

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.

SECR vs. LMBS - Risk-Adjusted Trends Comparison

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

	SECR	LMBS	Difference
Sharpe ratio: Return per unit of total volatility	1.33	3.10	-1.77
Sortino ratio: Return per unit of downside risk	1.97	4.79	-2.82
Omega ratio: Gain probability vs. loss probability	1.24	1.62	-0.38
Calmar ratio: Return relative to maximum drawdown	1.79	4.28	-2.49
Martin ratio: Return relative to average drawdown	5.40	18.25	-12.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SECR vs. LMBS - Sharpe Ratio Comparison

The current SECR Sharpe Ratio is 1.33, which is lower than the LMBS Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of SECR 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

	SECR	LMBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	3.10	-1.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.19	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	1.13	+0.31

Drawdowns

SECR vs. LMBS - Drawdown Comparison

The maximum SECR drawdown since its inception was -3.93%, smaller than the maximum LMBS drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for SECR and LMBS.

Drawdown Indicators

	SECR	LMBS	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-6.49%	+2.56%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-1.43%	-1.51%
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	-1.63%	-0.34%	-1.29%
Average Drawdown Average peak-to-trough decline	-1.08%	-0.80%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.33%	+0.64%

Volatility

SECR vs. LMBS - Volatility Comparison

NYLI MacKay Securitized Income ETF (SECR) has a higher volatility of 1.54% compared to First Trust Low Duration Mortgage Opportunities ETF (LMBS) at 0.68%. This indicates that SECR'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

	SECR	LMBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	0.68%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	1.45%	+1.42%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	1.97%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.63%	2.56%	+2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.63%	2.36%	+2.27%

SECR vs. LMBS - Expense Ratio Comparison

SECR has a 0.28% expense ratio, which is lower than LMBS's 0.68% expense ratio.

Dividends

SECR vs. LMBS - Dividend Comparison

SECR's dividend yield for the trailing twelve months is around 6.28%, 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%
SECR NYLI MacKay Securitized Income ETF	6.28%	6.68%	3.24%	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 SECR and LMBS in my portfolio?

SECR and LMBS have a correlation of 0.80, 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 LMBS?

SECR has higher volatility (1.54%) compared to LMBS (0.68%). In terms of maximum drawdown, SECR dropped -3.93% vs LMBS's -6.49%.

Which ETF is better, SECR or LMBS?

On 1-year performance, LMBS leads with 6.09% vs 5.25% for SECR. On fees, SECR is cheaper at 0.28% 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, SECR or LMBS?

Over the 1-year period, LMBS has performed better with a 6.09% return vs 5.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SECR or LMBS?

SECR is cheaper with a 0.28% expense ratio, compared with 0.68% for LMBS.

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

SECR has the higher dividend yield at 6.28%, compared with 4.10% for LMBS.

What is the main difference between SECR and LMBS?

They also come from different issuers: NYLI and First Trust. Their fees differ too: 0.28% for SECR and 0.68% for LMBS.

Which has better risk-adjusted returns?

LMBS currently has the higher Sharpe Ratio (3.10 vs 1.33), 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.