VETZ vs. MBB

Last updated Jun 4, 2026

VETZ (Academy Veteran Bond ETF) and MBB (iShares MBS Bond ETF) are both Mortgage Backed Securities funds. VETZ is actively managed, while MBB is passively managed. Over the past year, VETZ returned 6.86% vs 6.76% for MBB. Their correlation of 0.81 suggests significant overlap in exposure. VETZ charges 0.35%/yr vs 0.06%/yr for MBB.

Performance

VETZ vs. MBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Academy Veteran Bond ETF (VETZ) and iShares MBS Bond ETF (MBB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VETZ achieves a 0.42% return, which is significantly lower than MBB's 0.58% return.

VETZ

• 1D: -0.20%
• 1M: -0.25%
• YTD: 0.42%
• 6M: 0.83%
• 1Y: 6.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBB

• 1D: -0.23%
• 1M: 0.31%
• YTD: 0.58%
• 6M: 0.71%
• 1Y: 6.76%
• 3Y*: 4.36%
• 5Y*: 0.34%
• 10Y*: 1.30%

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

VETZ vs. MBB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VETZ Academy Veteran Bond ETF	0.42%	8.02%	2.22%	3.97%
MBB iShares MBS Bond ETF	0.58%	8.38%	1.31%	4.29%

Correlation

The correlation between VETZ and MBB is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023	0.81

The correlation between VETZ and MBB has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.

Return for Risk

VETZ vs. MBB — Risk / Return Rank

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

VETZ

VETZ Risk / Return Rank: 46
VETZ Sharpe Ratio Rank: 42
VETZ Sortino Ratio Rank: 43
VETZ Omega Ratio Rank: 40
VETZ Calmar Ratio Rank: 51
VETZ Martin Ratio Rank: 52

MBB

MBB Risk / Return Rank: 44
MBB Sharpe Ratio Rank: 42
MBB Sortino Ratio Rank: 43
MBB Omega Ratio Rank: 41
MBB Calmar Ratio Rank: 46
MBB Martin Ratio Rank: 46

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.

VETZ vs. MBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Academy Veteran Bond ETF (VETZ) and iShares MBS Bond ETF (MBB). 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.

	VETZ	MBB	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.51	-0.07
Sortino ratio Return per unit of downside risk	2.16	2.22	-0.06
Omega ratio Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio Return relative to maximum drawdown	2.52	2.31	+0.21
Martin ratio Return relative to average drawdown	8.75	7.64	+1.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VETZ vs. MBB - Sharpe Ratio Comparison

The current VETZ Sharpe Ratio is 1.44, which is comparable to the MBB Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of VETZ and MBB, 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

	VETZ	MBB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.51	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.05	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.58	+0.26

Drawdowns

VETZ vs. MBB - Drawdown Comparison

The maximum VETZ drawdown since its inception was -5.16%, smaller than the maximum MBB drawdown of -17.64%. Use the drawdown chart below to compare losses from any high point for VETZ and MBB.

Drawdown Indicators

	VETZ	MBB	Difference
Max Drawdown Largest peak-to-trough decline	-5.16%	-17.64%	+12.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.73%	-2.94%	+0.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.64%	—
Current Drawdown Current decline from peak	-1.59%	-1.52%	-0.07%
Average Drawdown Average peak-to-trough decline	-1.30%	-2.35%	+1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	0.89%	-0.10%

Volatility

VETZ vs. MBB - Volatility Comparison

The current volatility for Academy Veteran Bond ETF (VETZ) is 1.36%, while iShares MBS Bond ETF (MBB) has a volatility of 1.59%. This indicates that VETZ experiences smaller price fluctuations and is considered to be less risky than MBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VETZ	MBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.59%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	3.27%	3.23%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	4.80%	4.51%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.15%	6.81%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.15%	5.31%	+0.84%

VETZ vs. MBB - Expense Ratio Comparison

VETZ has a 0.35% expense ratio, which is higher than MBB's 0.06% expense ratio.

Dividends

VETZ vs. MBB - Dividend Comparison

VETZ's dividend yield for the trailing twelve months is around 6.18%, more than MBB's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBB iShares MBS Bond ETF	4.28%	4.21%	3.94%	3.40%	2.31%	1.05%	2.10%	2.77%	2.64%	2.23%	2.58%	2.66%
VETZ Academy Veteran Bond ETF	6.18%	6.14%	5.89%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VETZ and MBB in my portfolio?

VETZ and MBB have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VETZ or MBB?

MBB has higher volatility (1.59%) compared to VETZ (1.36%). In terms of maximum drawdown, VETZ dropped -5.16% vs MBB's -17.64%.

Which ETF is better, VETZ or MBB?

On 1-year performance, VETZ leads with 6.86% vs 6.76% for MBB. On fees, MBB is cheaper at 0.06% per year. On volatility, VETZ has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VETZ or MBB?

Over the 1-year period, VETZ has performed better with a 6.86% return vs 6.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VETZ or MBB?

MBB is cheaper with a 0.06% expense ratio, compared with 0.35% for VETZ.

Which ETF pays a higher dividend yield, VETZ or MBB?

VETZ has the higher dividend yield at 6.18%, compared with 4.28% for MBB.

What is the main difference between VETZ and MBB?

They also come from different issuers: Academy and iShares. Their fees differ too: 0.35% for VETZ and 0.06% for MBB.

Which has better risk-adjusted returns?

MBB currently has the higher Sharpe Ratio (1.51 vs 1.44), 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.