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MBSF vs SPMB

Regan Floating Rate MBS ETF

MBSF—NYSE Arca

State Street SPDR Portfolio Mortgage Backed Bond ETF

SPMBANYSE Arca

Overlap

No data

Expense ratio

SPMB −0.45pt a year

MBSF0.49%SPMB0.04%

Avg volume · 30D

SPMB 28.8×the volume

MBSF56.8KSPMB1.64M

MBSF vs SPMB Performance

Nov 7, 2025 – Nov 9, 2026

+4.4%MBSF+0.8%SPMB

Nov 7, 2025 to Nov 9, 2026. MBSF +4.4%. SPMB +0.8%. Use the arrow keys to read each point.−2%2%Nov 2025May 2026Nov 2026
Expense ratio
MBSF 0.49%
SPMB 0.04%, better
Fund size
MBSF $266M
SPMB $7.01B
1Y total return
MBSF +4.4%, better
SPMB +0.8%
Yield (12M)
MBSF 4.20%
SPMB 4.25%, better
Holdings
MBSF 491
SPMB 2779
Avg volume (30D)
MBSF 56.8K sh
SPMB 1.64M sh, better
NAV per share
MBSF $25.56
SPMB $21.76
52W range

ETF.net Grade

  • —MBSFUnder classification review
SPMB: Cost 94, Risk 31, Mission 64, Tradability 95, Holdings 75, Durability 83.
Pillar letters and Scores for MBSF, SPMB, with each pillar’s weight
PillarMBSFSPMB
Cost30% weightNot scoredA94
Mission25% weightNot scoredB64
Risk15% weightNot scoredD31
Tradability15% weightNot scoredA95
Holdings10% weightNot scoredA75
Durability5% weightNot scoredA83

Rank among Mortgage-Backed Securities funds

How we build Categories ›

Our read on each fund

ETF.net Research

MBSF—Regan Floating Rate MBS ETF

SPMBAState Street SPDR Portfolio Mortgage Backed Bond ETF

In short

MBSF No data

SPMB The no-frills way to own America's mortgage bonds. SPMB tracks the Bloomberg U.S. MBS Index for four basis points, a fraction of what the typical mortgage-bond ETF charges, and pays income monthly.

Stated mandate

MBSF No data

SPMB The fund seeks to track, before fees and expenses, the price and yield performance of the Bloomberg U.S. MBS Index.

Why people hold it

MBSF No data

  • SPMB Four basis points a year, against a 0.35% median for mortgage-bond ETFs. Cost is where this fund does its loudest talking.
  • Runs the same Bloomberg U.S. MBS Index as iShares' MBB at the same 0.04% fee, and undercuts MBBA, which tracks that index for far more.
  • Roughly 2,700 mortgage bonds in a single line item, inside a multi-billion-dollar fund that trades actively, with distributions paid monthly.
  • Trading since 2009, and one of the strongest implementations in its mortgage-bond peer group.

Worth knowing

MBSF No data

  • SPMB Homeowners refinance when rates fall, so mortgage bonds get paid back early and rally less than Treasuries. That quirk is built into the index, not the fund.
  • Prices move with interest rates and the monthly payout floats with the portfolio. This is a bond fund, not a cash substitute.
  • US mortgages only. No Treasuries, no corporates, no credit spice. A building block for a bond sleeve rather than the whole sleeve.

Full MBSF profile⁠

Full SPMB profile⁠

MBSF vs SPMB Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

MBSF vs SPMB Cost

Overpaying MBSF vs SPMB

$8,943

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

  • MBSF 0.49%

    $9,792

  • SPMB 0.04%

    $849

$10,000
30 years

Cost over time

  • MBSF 0.49%
  • SPMB 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530MBSF $9,792SPMB $849

Year by year

YearMBSFSPMBOverpaying
10$883$73$810
20$3,394$288$3,106
30$9,792$849$8,943

Expense ratio

  • 0.49%MBSF
  • 0.04%SPMB, cheaper
  • Middle half of Mortgage-Backed Securities funds
  • Median 0.38%

SPMB 3rd cheapest of 24 funds

MBSF 20th cheapest of 24 funds

MBSF vs SPMB Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
MBSF 4.20%
SPMB 4.25%, better
Payout (12M)
MBSF $1.07
SPMB $0.92
Last payment
MBSF $0.08
SPMB $0.07
Ex-dividend
MBSF Oct 28, 2026
SPMB Nov 2, 2026
Paid on
MBSF Oct 30, 2026
SPMB Nov 5, 2026
Frequency
MBSF Monthly
SPMB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

MBSFMonthly · 32 paymentsAll MBSF payments⁠
One bar per payment. 32 payments from 2023 to 2026 YTD. Mar 26, 2024 $0.04; Apr 26, 2024 $0.12; May 29, 2024 $0.11; Jun 26, 2024 $0.11; Jul 29, 2024 $0.11; Aug 28, 2024 $0.10; Sep 26, 2024 $0.11; Oct 29, 2024 $0.12; Nov 26, 2024 $0.10; Dec 23, 2024 $0.14; Jan 29, 2025 $0.08; Feb 26, 2025 $0.09; Mar 26, 2025 $0.10; Apr 28, 2025 $0.10; May 28, 2025 $0.10; Jun 26, 2025 $0.10; Jul 29, 2025 $0.10; Aug 27, 2025 $0.10; Sep 26, 2025 $0.11; Oct 29, 2025 $0.10; Nov 25, 2025 $0.09; Dec 23, 2025 $0.14; Jan 28, 2026 $0.07; Feb 25, 2026 $0.08; Mar 27, 2026 $0.10; Apr 28, 2026 $0.08; May 27, 2026 $0.08; Jun 26, 2026 $0.10; Jul 29, 2026 $0.09; Aug 27, 2026 $0.08; Sep 28, 2026 $0.08; Oct 28, 2026 $0.08. Use the arrow keys to read each point.$0$0.1020232026YTD
SPMBMonthly · 46 paymentsAll SPMB payments⁠
One bar per payment. 46 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.06; Mar 1, 2023 $0.06; Apr 3, 2023 $0.06; May 1, 2023 $0.06; Jun 1, 2023 $0.06; Jul 3, 2023 $0.06; Aug 1, 2023 $0.06; Sep 1, 2023 $0.06; Oct 2, 2023 $0.06; Nov 1, 2023 $0.06; Dec 1, 2023 $0.06; Dec 18, 2023 $0.06; Feb 1, 2024 $0.06; Mar 1, 2024 $0.06; Apr 1, 2024 $0.06; May 1, 2024 $0.06; Jun 3, 2024 $0.06; Jul 1, 2024 $0.06; Aug 1, 2024 $0.06; Sep 3, 2024 $0.07; Oct 1, 2024 $0.07; Nov 1, 2024 $0.07; Dec 2, 2024 $0.07; Dec 19, 2024 $0.10; Feb 3, 2025 $0.07; Mar 3, 2025 $0.07; Apr 1, 2025 $0.07; May 1, 2025 $0.07; Jun 2, 2025 $0.07; Jul 1, 2025 $0.07; Aug 1, 2025 $0.07; Sep 2, 2025 $0.07; Oct 1, 2025 $0.07; Nov 3, 2025 $0.07; Dec 1, 2025 $0.07; Dec 18, 2025 $0.14; Feb 2, 2026 $0.07; Mar 2, 2026 $0.07; Apr 1, 2026 $0.07; May 1, 2026 $0.07; Jun 1, 2026 $0.07; Jul 1, 2026 $0.07; Aug 3, 2026 $0.07; Sep 1, 2026 $0.07; Oct 1, 2026 $0.07; Nov 2, 2026 $0.07. Use the arrow keys to read each point.$0$0.1020232026YTD

MBSF vs SPMB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MBSF 1.6%since Mar 2024SPMB 6.5%
Return per unit of riskSharpe ratio, 3 years
MBSF 0.60since Mar 2024SPMB 0.28
Worst fallMax drawdown, 5 years
MBSF −1.0%since Feb 2024SPMB −16.9%
Market sensitivityBeta, 5 years
MBSF 0.05SPMB 1.15

Popular comparisons

  • MBSF—vsMBBA

    Regan Floating Rate MBS ETF · iShares MBS ETF

    Expense ratio
    0.49% · 0.04%
    Category
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  • SPMBAvsMBBA

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    Expense ratio
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  • MBSF—vsVMBSA

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  • SPMBAvsVMBSA

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    Expense ratio
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    Category
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  • MBSF—vsSMBSA

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    Expense ratio
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    Category
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  • SPMBAvsSMBSA

    State Street SPDR Portfolio Mortgage Backed Bond ETF · Schwab Mortgage-Backed Securities ETF

    Expense ratio
    0.04% · 0.03%
    Category
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