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Launched

Simplify MBS ETF

MTBANYSE ArcaSimplifyB

$47.58−0.05 (−0.10%)

At close: Nov 2, 2026, 4:00 PM ET

B58/ 100

Rank 8 of 25 in Mortgage-Backed Securities

B58/100Rank 8 of 25inMortgage-Backed Securities
Intraday session: down, 79 prints from 47.63 to 47.58. Range 47.56 to 47.69. Use the arrow keys to read each point.47.6047.6547.6710 AM12 PM2 PM4 PM
Expense ratio
0.28%
Fund size
$903M
1Y total return
+0.3%
Yield · Last 12 months
6.09%
Holdings
12
Avg volume · 30D
280K sh
52W range
low $46.53high $50.80
Launched

The ETF.net MTBA Grade

B

Score 58 out of 100

Category
Mortgage-Backed Securities⁠
Rank
8 of 25
Six-pillar profile for MTBA. Scores out of 100: Cost 63, Risk 50, Mission 59, Tradability 82, Holdings 25, Durability 50. Strongest: Tradability (82). Weakest: Holdings (25). Leans toward Tradability.

Score 58 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B63 out of 100
    Rank 10 of 25

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B59 out of 100
    Rank 7 of 21

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C50 out of 100
    Rank 11 of 25

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A82 out of 100
    Rank 4 of 25

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D25 out of 100
    Rank 22 of 25

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C50 out of 100
    Rank 14 of 25

Our read on MTBA

ETF.net Research

In short

BMost funds in the aggregate-bond aisle buy a little of everything. Simplify's mortgage ETF goes one lane deep: agency mortgage bonds, actively run, launched in 2023, paying monthly.

Stated mandate

The fund seeks total return while preserving capital through prudent investment management.

Why people hold it

  • Costs 0.25% a year, below the 0.36% median for its bond-fund category. Cheap for an actively managed sleeve.
  • One clear job: total return while preserving capital, per Simplify's own mandate. A specialist tool, not a repackaged broad-market index.simplify.us
  • Pays monthly, has pulled in real assets since its 2023 launch, and trades with moderate volume for a niche bond fund.
  • Lands in the upper half of a crowded aggregate-bond field, and its holdings line up closely with the mandate it advertises.

Worth knowing

  • The index heavyweights undercut it hard: BND, SPAB and SCHZ all run at 0.03%. You are paying up for active mortgage selection.
  • This is one slice of the bond market, not a diversified core. No corporates, no Treasuries ballast beyond what the mortgage sleeve holds.
  • Launched in November 2023, so its track record is short by bond-fund standards and spans only one rate environment.

MTBA Holdings

Holdings pillarD25 out of 100Rank 22 of 25 in Mortgage-Backed Securities
Asset class
Bonds
Holdings
12
Top-10 weight
99%
Largest holding
SBIL46.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1SBILSimplify E Govt Money Mkt Etf46.02%8,517,938$852M18
2No dataFNCL 6 11/26 Mtge13.85%257,000,000$257M45
3No dataFNCL 6.5 11/26 Mtge12.06%219,800,000$223M43
4No dataFNCL 7 11/26 Mtge10.20%182,700,000$189M4
5No dataFNCL 5.5 11/26 Mtge9.65%183,250,000$179M54
6No dataFNCL 5 11/26 Mtge4.38%85,250,000$81M44
7No dataFNCL 4.5 12/26 Mtge1.09%22,000,000$20.3M3
8No dataCash0.92%16,949,360$16.9M104
9No dataB 1/28/27 Govt0.75%14,100,000$14M32
10No dataB 3/11/27 Govt0.53%10,000,000$9.85M27
11No dataB 12/3/26 Govt0.32%5,952,000$5.93M36
12No dataB 12/31/26 Govt0.22%4,138,000$4.11M34

Showing 1–12 of 12 holdings

MTBA Performance

Launched Nov 6, 2023

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

Not enough history yet.Not enough history yet.Not enough history yet.
MTBA$10,027
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. MTBA $10,027. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 MTBA. Periods over one year show the average yearly return.
PeriodMTBA
Year to date−0.8%
1 month+2.4%
3 months−0.2%
1 year+0.3%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 MTBA
YearReturn barMTBA
2026 YTD−0.8%
2025+7.8%
2024+2.0%
2023+3.6%

History from Nov 7, 2023

MTBA in the news

MTBA 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 Oct 30, 2026.
6.09%Last 12 months
Payout per share
$2.90Last 12 months
Last payment
$0.23 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 35 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.25; Jan 26, 2024 $0.25; Feb 26, 2024 $0.25; Mar 25, 2024 $0.25; Apr 25, 2024 $0.25; May 24, 2024 $0.25; Jun 25, 2024 $0.25; Jul 26, 2024 $0.25; Aug 27, 2024 $0.25; Sep 25, 2024 $0.25; Oct 28, 2024 $0.25; Nov 25, 2024 $0.25; Dec 23, 2024 $0.25; Jan 28, 2025 $0.25; Feb 25, 2025 $0.25; Mar 26, 2025 $0.25; Apr 25, 2025 $0.25; May 27, 2025 $0.25; Jun 25, 2025 $0.25; Jul 28, 2025 $0.25; Aug 26, 2025 $0.25; Sep 25, 2025 $0.25; Oct 28, 2025 $0.25; Nov 21, 2025 $0.25; Dec 23, 2025 $0.28; Jan 27, 2026 $0.25; Feb 24, 2026 $0.25; Mar 26, 2026 $0.24; Apr 27, 2026 $0.24; May 26, 2026 $0.24; Jun 25, 2026 $0.23; Jul 28, 2026 $0.23; Aug 26, 2026 $0.23; Sep 25, 2026 $0.23; Oct 27, 2026 $0.23. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Oct 27, 2026Oct 30, 2026$0.23
Sep 25, 2026Sep 30, 2026$0.23
Aug 26, 2026Aug 31, 2026$0.23
Jul 28, 2026Jul 31, 2026$0.23
Jun 25, 2026Jun 30, 2026$0.23
May 26, 2026May 29, 2026$0.24
Apr 27, 2026Apr 30, 2026$0.24
Mar 26, 2026Mar 31, 2026$0.24
Feb 24, 2026Feb 27, 2026$0.25
Jan 27, 2026Jan 30, 2026$0.25
Dec 23, 2025Dec 31, 2025$0.28
Nov 21, 2025Nov 28, 2025$0.25

See all 35 payments⁠

$10,000 in MTBA 1 year ago paid $576 in dividends.⁠

MTBA Risk

Risk pillarC50 out of 100Rank 11 of 25 in Mortgage-Backed Securities
How much the fund’s monthly returns vary, scaled to a year.
4.3%
Annualised · 35 months to Oct 2026
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.
−0.16
vs 3-month T-bills · 35 months to Oct 2026
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.
−4.6%
35 months · trough Oct 2026
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.
0.12
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.

FMP measures it over up to five years of monthly returns.

MTBA Cost

Compare MTBA and VMBS

Overpaying vs VMBS, tied cheapest in Mortgage-Backed Securities

$5,117

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MTBA 0.28%

    $5,755

  • VMBS 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • MTBA 0.28%
  • VMBS 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K051015202530MTBA $5,755VMBS $638

Year by year

YearMTBAVMBSOverpaying
10$509$55$454
20$1,976$216$1,760
30$5,755$638$5,117

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