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MBBA

GradeCChicago Board Options Exchange

iShares Mortgage-Backed Securities Active ETF

Specialty Bonds · IShares · Inception 1998-05-17

$47.44−0.55 (−1.15%)

As of Sep 23, 2026, 3:04 PM EDT

History starts Jan 27, 2026.History starts Jan 27, 2026.
Intraday session: down, 54 prints from 47.99 to 47.44. Range 47.35 to 47.92. Use the arrow keys to read each point.$47.60$47.8010 AM12 PM2 PM4 PM
Expense ratio
0.26%
Fund size
$165M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
519
Volume · 30D
0M sh
NAV per share
$47.93
52W range
low $47.63high $54.68

The ETF.net MBBA Grade

C

46/ 100

Rank 11 of 25 in Mortgage-Backed Securities⁠

Confidence Medium

Six-pillar profile for MBBA. Scores out of 100: Cost 63, Risk 23, Mission not scored, Tradability 43, Holdings 25, Durability 70. Strongest: Durability (70). Weakest: Risk (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 46 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 63
    Category rank10/25 · top 40%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 23
    Category rank24/25 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 43
    Category rank15/25 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 25
    Category rank23/25 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 70
    Category rank6/25 · top 24%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on MBBA

ETF.net Research

CActive management aimed at the plumbing of the mortgage market: iShares gives a manager room to pick agency MBS instead of mirroring the Bloomberg U.S. MBS Index, and charges less than the typical fund in this corner to do it.

Stated mandate

The Fund seeks to maximize total return while generating income and applying prudent investment management.

Why people hold it

  1. 01Runs at 0.25% a year, under the 0.35% typical of MBS funds in its group. Active mandates usually charge up from the index, not down toward it.
  2. 02The mandate: maximize total return while generating income. The Bloomberg U.S. MBS Index is the yardstick, not a leash the manager has to hug bond for bond.
  3. 03Spread across roughly 500 US mortgage bonds in a plain 1940 Act open-end fund. No K-1, no derivative wrapper, no offshore structure to decode.
  4. 04Fund inception dates to 1998, meaning this mortgage playbook was running long before most of the ETFs it now sits beside existed.

Worth knowing

  1. 01Cheap for active, still pricier than the index route: MBB, VMBS and SPMB all sit at a few basis points. Here you are paying for a manager's calls.
  2. 02Because it is active, there is no tracking record to audit, and only a short window of risk history exists. Less to measure than a long-running tracker.
  3. 03Smaller and more lightly traded than the index heavyweights in the MBS category, which is where limit orders earn their keep.

MBBA Holdings

As of Sep 22, 2026, 5:17 AM
Asset class
Bonds
Holdings
519
Top-10 weight
70%
Largest holding
UMBS 30YR TBA(REG A) 2.00% 10/13/2026 (UM30)10.3%

Geography

The fund’s holdings, weight-ordered — page 1 of 35.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—UMBS 30YR TBA(REG A) 2.00% 10/13/2026 (UM30)10.29%22,220,000$17M35
002—UMBS 30YR TBA(REG A) 5.50% 11/12/2026 (UM30)9.30%15,800,000$15M6
003—UMBS 30YR TBA(REG A) 2.50% 10/13/2026 (UM30)8.93%18,435,000$15M33
004—UMBS 30YR TBA(REG A) 5.50% 10/13/2026 (UM30)8.35%14,165,000$14M52
005—FNMA 30YR UMBS 5.00% 05/01/2056 (FNMA6053)8.30%14,437,599$14M6
006—GNMA2 30YR TBA(REG C) 2.00% 10/20/2026 (G230J)6.60%13,841,000$11M26
007—FHSTR_432 GA 4.00% 04/25/2027 (FHSTR_432-GA)6.08%10,056,843$10M2
008—FHLMC 30YR UMBS 5.00% 05/01/2056 (FRRQ0118)4.53%7,881,029$7M24
009—UMBS 15YR TBA(REG B) 2.00% 10/15/2026 (UM15)4.27%7,909,000$7M25
010—BLACKROCK LIQ FUND T-FD-IN3.64%5,996,544$6M2
011—UMBS 30YR TBA(REG A) 6.00% 10/13/2026 (UM30)3.53%5,831,000$6M45
012—FHSTR_454 DA 4.00% 05/25/2027 (FHSTR_454-DA)3.22%5,343,770$5M2
013—GNMA2 30YR TBA(REG C) 2.50% 10/20/2026 (G230J)2.75%5,535,000$5M23
014—GNMA2 30YR TBA(REG C) 5.50% 10/20/2026 (G230J)2.52%4,259,000$4M40
015—FNMA 30YR UMBS SUPER 3.00% 04/01/2052 (FNFS1538)2.49%4,843,535$4M7

Showing 1–15 of 518 holdings

MBBA Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MBBA$9,799
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. MBBA $9,799. SPY $10,415. Use the arrow keys to read each point.$9,702$10,104$10,505Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MBBA. Periods over one year show the average yearly return.
PeriodMBBA
Year to dateHistory unavailable—
1 month−1.3%
3 months−2.0%
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MBBA
YearReturn barMBBA
2026 YTD−1.3%

History from Jan 27, 2026

MBBA in the news

ETF.net Research hasn’t filed on MBBA yet — coverage lands here as it’s written.

MBBA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.19 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 7 payments in 2026 YTD. Mar 2, 2026 $0.31; Apr 1, 2026 $0.20; May 1, 2026 $0.20; Jun 1, 2026 $0.20; Jul 1, 2026 $0.18; Aug 3, 2026 $0.19; Sep 1, 2026 $0.19. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 1, 2026Sep 4, 2026$0.19
Aug 3, 2026Aug 6, 2026$0.19
Jul 1, 2026Jul 7, 2026$0.18
Jun 1, 2026Jun 4, 2026$0.20
May 1, 2026May 6, 2026$0.20
Apr 1, 2026Apr 7, 2026$0.20
Mar 2, 2026Mar 5, 2026$0.31

MBBA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
No data available
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
No data available
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.10
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MBBA Cost

Expense ratio0.26%
  • The middle half of Mortgage-Backed Securities funds
  • Median 0.32%

10 of the 24 Mortgage-Backed Securities funds charge less.

MBBA costs $26.00 a year on $10,000. The median Mortgage-Backed Securities fund costs $32.50.