SECR vs. MBSX

Last updated Jun 23, 2026

SECR (NYLI MacKay Securitized Income ETF) and MBSX (Regan Fixed Rate MBS ETF) are both Mortgage Backed Securities funds. Both are actively managed. Over the past year, SECR returned 4.47% vs 12.52% for MBSX. At a 0.02 correlation, their price movements are largely independent. SECR charges 0.28%/yr vs 0.40%/yr for MBSX.

Performance

SECR vs. MBSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Securitized Income ETF (SECR) and Regan Fixed Rate MBS ETF (MBSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SECR achieves a 0.62% return, which is significantly lower than MBSX's 5.41% return.

SECR

• 1D: -0.24%
• 1M: 0.42%
• YTD: 0.62%
• 6M: 0.69%
• 1Y: 4.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBSX

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

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

SECR vs. MBSX - Yearly Performance Comparison

	2026 (YTD)	2025
SECR NYLI MacKay Securitized Income ETF	0.62%	3.82%
MBSX Regan Fixed Rate MBS ETF	5.41%	8.47%

Correlation

The correlation between SECR and MBSX is 0.00, 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	0.00
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.02

Return for Risk

SECR vs. MBSX — Risk / Return Rank

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

SECR

SECR Risk / Return Rank: 32
SECR Sharpe Ratio Rank: 33
SECR Sortino Ratio Rank: 33
SECR Omega Ratio Rank: 31
SECR Calmar Ratio Rank: 32
SECR Martin Ratio Rank: 31

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

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. MBSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Securitized Income ETF (SECR) and Regan Fixed Rate MBS ETF (MBSX). 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	MBSX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	0.23	+0.91
Sortino ratio: Return per unit of downside risk	1.69	0.71	+0.98
Omega ratio: Gain probability vs. loss probability	1.20	1.13	+0.07
Calmar ratio: Return relative to maximum drawdown	1.53	0.46	+1.07
Martin ratio: Return relative to average drawdown	4.32	1.49	+2.83

SECR vs. MBSX - Sharpe Ratio Comparison

The current SECR Sharpe Ratio is 1.14, which is higher than the MBSX Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of SECR and MBSX, 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. MBSX - Drawdown Comparison

The maximum SECR drawdown since its inception was -3.93%, smaller than the maximum MBSX drawdown of -27.57%. Use the drawdown chart below to compare losses from any high point for SECR and MBSX.

Drawdown Indicators

	SECR	MBSX	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-27.57%	+23.64%
Max Drawdown (1Y) Largest decline over 1 year	-2.94%	-27.57%	+24.63%
Current Drawdown Current decline from peak	-1.67%	-21.16%	+19.49%
Average Drawdown Average peak-to-trough decline	-1.09%	-6.73%	+5.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	8.40%	-7.36%

Volatility

SECR vs. MBSX - Volatility Comparison

The current volatility for NYLI MacKay Securitized Income ETF (SECR) is 1.00%, while Regan Fixed Rate MBS ETF (MBSX) has a volatility of 41.34%. This indicates that SECR experiences smaller price fluctuations and is considered to be less risky than MBSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SECR	MBSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.00%	41.34%	-40.34%
Volatility (6M) Calculated over the trailing 6-month period	2.88%	52.02%	-49.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	54.91%	-50.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.61%	54.69%	-50.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.61%	54.69%	-50.08%

SECR vs. MBSX - Expense Ratio Comparison

SECR has a 0.28% expense ratio, which is lower than MBSX's 0.40% expense ratio.

Dividends

SECR vs. MBSX - Dividend Comparison

SECR's dividend yield for the trailing twelve months is around 6.28%, more than MBSX's 3.38% yield.

Position	TTM	2025	2024
MBSX Regan Fixed Rate MBS ETF	3.38%	2.77%	0.00%
SECR NYLI MacKay Securitized Income ETF	6.28%	6.68%	3.24%

Frequently Asked Questions

Can I hold both SECR and MBSX in my portfolio?

SECR and MBSX have a correlation of 0.00, 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 MBSX?

MBSX has higher volatility (41.34%) compared to SECR (1.00%). In terms of maximum drawdown, SECR dropped -3.93% vs MBSX's -27.57%.

Which ETF is better, SECR or MBSX?

On 1-year performance, MBSX leads with 12.52% vs 4.47% for SECR. On fees, SECR is cheaper at 0.28% per year. On volatility, SECR has been the lower-risk option at 1.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SECR or MBSX?

Over the 1-year period, MBSX has performed better with a 12.52% return vs 4.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SECR or MBSX?

SECR is cheaper with a 0.28% expense ratio, compared with 0.40% for MBSX.

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

SECR has the higher dividend yield at 6.28%, compared with 3.38% for MBSX.

What is the main difference between SECR and MBSX?

They also come from different issuers: NYLI and Regan. Their fees differ too: 0.28% for SECR and 0.40% for MBSX.

Which has better risk-adjusted returns?

SECR currently has the higher Sharpe Ratio (1.14 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.