MBSD
FlexShares Disciplined Duration MBS Index Fund

Price: $21.38
Change: $0.04 (0.0%)
Category: Mortgage Backed Securities
Last Updated:

Vitals

Issuer Northern Trust
Brand FlexShares
Structure ETF
Expense Ratio 0.20%
ETF Home Page Home page
Inception Sep 04, 2014
Index Tracked ICE BofA Constrained Duration US Mortgage Backed Securities

Analyst Report

The FlexShares Disciplined Duration MBS Index Fund (MBSD) tracks a proprietary index of mortgage-backed securities. MBSD’s particular twist is that it aims to keep duration within a range. Duration measures sensitivity to a change in interest rates. Bond prices typically fall when rates rise. The higher the duration, the more volatile the expected change.


MBSD invests in U.S.-dollar denominated mortgage-backed securities with terms ranging from 15 years to 30 years, but the index targets a composite portfolio duration between 3.25 years and 4.25 years. The index excludes some riskier types of mortgage debt, such as balloon mortgages, mobile home loans, graduated mortgage payments, and collateralized mortgage obligations.


MBSD’s secret sauce also means a significantly higher management fee than the ultra-low-cost competition. Is it worth it? Investors can compare MBSD to the iShares MBS ETF (MBB), the SPDR Portfolio Mortgage Backed Bond ETF (SPMB), or the Vanguard Mortgage Backed Securities ETF (VMBS).

ETF Database Themes

Category Mortgage Backed Securities
Asset Class Bond
Region (General) North America
Region (Specific) U.S.
Bond Type(s) Mortgage-Backed
Bond Duration Long-Term

FactSet Classifications

Segment Fixed Income: U.S. - Government, Mortgage-backed Investment Grade
Category Government, Mortgage-backed
Focus Investment Grade
Niche Broad Maturities
Strategy Target Duration
Weighting Scheme Proprietary

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $21.16
  • 52 Week Hi $24.46
  • AUM $107.7 M
  • Shares 5.1 M

Historical Trading Data

  • 1 Month Avg. Volume 31,422
  • 3 Month Avg. Volume 33,978

Alternative ETFs in the ETF Database Mortgage Backed Securities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest VMBS 0.04% $14.8 B 3 M -7.95%
Largest (AUM) MBB 0.04% $21.2 B 2 M -7.68%
Most Liquid (Volume) VMBS 0.04% $14.8 B 3 M -7.95%
Top YTD Performer GSST 0.16% $452.5 M 100,746 -0.70%

Alternative ETFs in the FactSet Fixed Income: U.S. - Government, Mortgage-backed Investment Grade Segment

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest MBB 0.04% $21.2 B 2 M -7.68%
Largest (AUM) MBB 0.04% $21.2 B 2 M -7.68%
Most Liquid (Volume) VMBS 0.04% $14.8 B 3 M -7.95%
Top YTD Performer GNMA 0.10% $345.4 M 71,305 -6.42%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

MBSD ETF Database Category Average FactSet Segment Average
Number of Holdings 465 1227 2666
% of Assets in Top 10 17.21% 35.89% 35.45%
% of Assets in Top 15 22.73% 42.87% 42.87%
% of Assets in Top 50 52.26% 68.37% 66.87%

Size Comparison

MBSD ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

MBSD Valuation

This section compares the P/E ratio of this ETF to its peers.

MBSD
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
N/A
FactSet Segment Average
P/E Ratio
N/A

MBSD Dividend

This section compares the dividend yield of this ETF to its peers.

MBSD ETF Database Category Average FactSet Segment Average
Dividend $ 0.04 $ 0.05 $ 0.05
Dividend Date 2021-11-01 N/A N/A
Annual Dividend Rate $ 0.65 $ 0.76 $ 0.88
Annual Dividend Yield 2.78% 1.71% 1.93%

MBSD Price and Volume Charts

View charts featuring MBSD price and volume data.

MBSD Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: -3.22 M 3 Month Net Flows: -5.69 M 6 Month Net Flows: 3.54 M 1 Year Net Flows: 10.56 M 3 Year Net Flows: 76.5 M 5 Year Net Flows: 84.47 M 10 Year Net Flows: 116.98 M

MBSD Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for MBSD on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Mortgage Backed Securities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Sign Up for Pro to Unlock Data Sign Up
Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity n/a n/a
Expenses A- n/a
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

MBSD Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

MBSD
Expense Ratio
0.20%
ETF Database Category Average
Expense Ratio
0.31%
FactSet Segment Average
Expense Ratio
0.12%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions Ordinary income
Distributes K1 No
ESG Themes and Scores

MBSD does not have an ESG score. There are no ESG themes that map to this ETF.

MBSD Performance

This section shows how this ETF has performed relative to its peers.

MBSD ETF Database
Category Average 		Factset Segment
Average
1 Month Return -0.36% -0.39% 0.00%
3 Month Return -4.64% -4.55% -4.81%
YTD Return -6.92% -6.78% -7.41%
1 Year Return -7.60% -5.94% -7.75%
3 Year Return -0.25% -0.03% -1.23%
5 Year Return 2.93% 1.65% 1.71%

Geographic Exposure

The following charts reflect the geographic spread of MBSD's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of MBSD's underlying holdings.

Asset Percentage
Mortgage Backed Security 97.56%
Other 2.36%
Bond Sector Percentage
Maturity Percentage
Less Than 1 Year 0.0%
1-3 Years 0.0%
3-5 Years 0.0%
5-7 Years 0.0%
7-10 Years 0.0%
10-15 Years 0.0%
15-20 Years 0.0%
20-30 Years 0.0%
30+ Years 0.0%
 
View Less Charts
 
Asset Percentage
Mortgage Backed Security 97.56%
Other 2.36%
 
View More Charts
 

MBSD Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 5.03%
20 Day Volatility 5.05%
50 Day Volatility 4.59%
200 Day Volatility 3.88%
Beta 0.01
Standard Deviation 0.62%
 
View Detailed Analysis
 
5 Day Volatility
5.03%
Rank
10 of 16
Low
GSST (1.07%)
High
MBB (50.60%)
20 Day Volatility
5.05%
Rank
11 of 16
Low
GSST (0.56%)
High
LGOV (9.27%)
50 Day Volatility
4.59%
Rank
11 of 16
Low
GSST (0.65%)
High
LGOV (9.41%)
200 Day Volatility
3.88%
Rank
12 of 16
Low
GSST (0.59%)
High
LGOV (9.08%)
Beta
0.01
Rank
6 of 16
Low
CMBS (-0.25)
High
MTGP (0.07)
Standard Deviation
0.62%
Rank
12 of 14
Low
GSST (0.13%)
High
MBB (3.17%)

 
View Summary Analysis
 

Technicals

  • 20 Day MA $21.31
  • 60 Day MA $21.74
  • MACD 15 Period 0.08
  • MACD 100 Period -0.74
  • Williams % Range 10 Day 22.23
  • Williams % Range 20 Day 21.85
  • RSI 10 Day 53
  • RSI 20 Day 43
  • RSI 30 Day 39
  • Ultimate Oscillator 51

Bollinger Bands

  • Lower Bollinger (10 Day) $21.20
  • Upper Bollinger (10 Day) $21.43
  • Lower Bollinger (20 Day) $21.20
  • Upper Bollinger (20 Day) $21.42
  • Lower Bollinger (30 Day) $21.13
  • Upper Bollinger (30 Day) $21.61

Support & Resistance

  • Support Level 1 $21.36
  • Support Level 2 $21.34
  • Resistance Level 1 $21.42
  • Resistance Level 2 $21.45

Stochastic

  • Stochastic Oscillator %D (1 Day) 34.39
  • Stochastic Oscillator %D (5 Day) 55.67
  • Stochastic Oscillator %K (1 Day) 44.00
  • Stochastic Oscillator %K (5 Day) 56.70

Tradability

  • Tracking Difference Median (%) -0.95
  • Tracking Difference Max Upside (%) -0.47
  • Tracking Difference Max Downside (%) -1.35
  • Median Premium Discount (%) 0.02
  • Maximum Premium Discount (%) 0.41
  • Average Spread (%) 2.46
  • Average Spread ($) 2.46

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Download the Fact Sheet PDF

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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Copyright MSCI ESG Research LLC [2018]. All Rights Reserved. MSCI ESG Research LLC’s (“MSCI ESG”) Fund Metrics products (the “Information”) provide environmental, social and governance data with respect to underlying securities within more than 23,000 multi-asset class Mutual Funds and ETFs globally. MSCI ESG is a Registered Investment Adviser under the Investment Advisers Act of 1940. MSCI ESG materials have not been submitted, to nor received approval from, the US SEC or any other regulatory body. None of the information constitutes an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the Information can be used to determine which securities to buy or sell or when to buy or sell them. The Information is provided “as is” and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. All Information is provided solely for your internal use, and may not be reproduced or redisseminated in any form without express prior written permission from MSCI. Neither MSCI ESG nor any of its affiliates or any third party involved in or related to creating any Information makes any express or implied warranties, representations or guarantees, and in no event will MSCI ESG or any such affiliate or third party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) relating to any Information. More information on MSCI ESG Fund Metrics, provided by MSCI ESG Research LLC, can be found at https://www.msci.com/esg-fund-metrics.
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