TFLR vs. MBSF

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price Floating Rate ETF (TFLR) and Regan Floating Rate MBS ETF (MBSF).

TFLR and MBSF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TFLR is an actively managed fund by T. Rowe Price. It was launched on Nov 16, 2022. MBSF is an actively managed fund by Regan. It was launched on Feb 27, 2024.

Performance

TFLR vs. MBSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Floating Rate ETF (TFLR) and Regan Floating Rate MBS ETF (MBSF). The values are adjusted to include any dividend payments, if applicable.

TFLR vs. MBSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TFLR T. Rowe Price Floating Rate ETF	-0.33%	6.57%	7.13%
MBSF Regan Floating Rate MBS ETF	0.75%	5.85%	5.71%

Returns By Period

In the year-to-date period, TFLR achieves a -0.33% return, which is significantly lower than MBSF's 0.75% return.

TFLR

• 1D: 0.12%
• 1M: 0.99%
• YTD: -0.33%
• 6M: 1.26%
• 1Y: 5.91%
• 3Y*: 7.90%
• 5Y*: —
• 10Y*: —

MBSF

• 1D: 0.31%
• 1M: -0.13%
• YTD: 0.75%
• 6M: 2.41%
• 1Y: 5.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TFLR vs. MBSF - Expense Ratio Comparison

TFLR has a 0.60% expense ratio, which is higher than MBSF's 0.49% expense ratio.

TFLR

T. Rowe Price Floating Rate ETF

MBSF

Regan Floating Rate MBS ETF

Return for Risk

TFLR vs. MBSF — Risk / Return Rank

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

TFLR

TFLR Risk / Return Rank: 69
TFLR Sharpe Ratio Rank: 60
TFLR Sortino Ratio Rank: 54
TFLR Omega Ratio Rank: 92
TFLR Calmar Ratio Rank: 62
TFLR Martin Ratio Rank: 79

MBSF

MBSF Risk / Return Rank: 89
MBSF Sharpe Ratio Rank: 83
MBSF Sortino Ratio Rank: 89
MBSF Omega Ratio Rank: 77
MBSF Calmar Ratio Rank: 98
MBSF Martin Ratio Rank: 96

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.

TFLR vs. MBSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Floating Rate ETF (TFLR) and Regan Floating Rate MBS ETF (MBSF). 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.

	TFLR	MBSF	Difference
Sharpe ratio Return per unit of total volatility	1.09	1.69	-0.60
Sortino ratio Return per unit of downside risk	1.47	2.61	-1.14
Omega ratio Gain probability vs. loss probability	1.41	1.31	+0.11
Calmar ratio Return relative to maximum drawdown	1.65	6.70	-5.05
Martin ratio Return relative to average drawdown	8.96	19.07	-10.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFLR vs. MBSF - Sharpe Ratio Comparison

The current TFLR Sharpe Ratio is 1.09, which is lower than the MBSF Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of TFLR and MBSF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TFLR	MBSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	1.69	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	2.11	1.74	+0.37

Correlation

The correlation between TFLR and MBSF is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

TFLR vs. MBSF - Dividend Comparison

TFLR's dividend yield for the trailing twelve months is around 6.94%, more than MBSF's 4.63% yield.

	TTM	2025	2024	2023	2022
TFLR T. Rowe Price Floating Rate ETF	6.94%	6.93%	8.18%	7.76%	0.58%
MBSF Regan Floating Rate MBS ETF	4.63%	4.71%	4.14%	0.00%	0.00%

Drawdowns

TFLR vs. MBSF - Drawdown Comparison

The maximum TFLR drawdown since its inception was -4.01%, which is greater than MBSF's maximum drawdown of -0.97%. Use the drawdown chart below to compare losses from any high point for TFLR and MBSF.

Drawdown Indicators

	TFLR	MBSF	Difference
Max Drawdown Largest peak-to-trough decline	-4.01%	-0.97%	-3.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.50%	-0.79%	-2.71%
Current Drawdown Current decline from peak	-0.83%	-0.48%	-0.35%
Average Drawdown Average peak-to-trough decline	-0.22%	-0.23%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.64%	0.28%	+0.36%

Volatility

TFLR vs. MBSF - Volatility Comparison

The current volatility for T. Rowe Price Floating Rate ETF (TFLR) is 0.89%, while Regan Floating Rate MBS ETF (MBSF) has a volatility of 1.42%. This indicates that TFLR experiences smaller price fluctuations and is considered to be less risky than MBSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFLR	MBSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	1.42%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	2.29%	-0.64%
Volatility (1Y) Calculated over the trailing 1-year period	5.47%	3.09%	+2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.74%	3.42%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.74%	3.42%	+0.32%