Mortgage ETF (DMBS) Performance
DMBS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.5% since Dec 31, 2025
- 1 year
- −1.0% total return
- 3 years
- +6.1% a year
- Since first price
- +2.9% a year since 2023
DMBS trailing returns vs AGG, TLT, SPY
| Period | DMBS total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.7% | +0.1% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.1% | −2.7% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.4% | −5.1% | −1.5% | −3.8% | +7.8% |
| YTD | −1.5% | −5.5% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.0% | −6.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +19.5%+6.1%/yr | +2.8% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionApr 4, 2023 | +10.6%+2.9%/yr | −6.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DMBS vs AGG
From Apr 4, 2023: DMBS grew to $11,059, AGG to $10,919.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DMBS returns by calendar year
2 of 2 full years positive. Best 2025 (+8.5%), worst 2024 (+2.1%). 2026 is year to date.
DMBS annual returns table
| Year | DMBS | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.5% | −5.4% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.5% | −3.1% | +7.2% | +4.3% | +17.7% |
| 2024 | +2.1% | −4.0% | +1.3% | −8.1% | +24.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DMBS largest drawdowns
Now 3.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 5, 2023 | −8.1% | Oct 25, 2023 | Dec 14, 2023 | 7 months | 8 months |
| Feb 27, 2026 | −5.4% | Oct 5, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
DMBS risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +4.8% | +2.7% |
| Volatility (annualized) | 6.0% | 6.0% |
| Sharpe ratio | 0.08 | -0.27 |
| Sortino ratio | 0.11 | -0.37 |
| Best month | +4.5% | +4.5% |
| Worst month | −2.8% | −3.0% |
| Best 12 months | +12.2% | +12.2% |
| Worst 12 months | −1.2% | −2.1% |
| Positive months | 67% | 59% |
| Beta vs S&P 500 | 0.23 | — |
| Correlation with S&P 500 | 0.48 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DMBS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 31 | −2.1% | +5.8% | +12.2% | 90% |
| 3-year (a year) | 7 | +4.2% | +4.7% | +5.9% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
DMBS performance overview
Mortgage ETF (DMBS) returned −1.0% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +2.9% a year, turning $10,000 into about $11,059. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −8.1%, from Apr 5, 2023 to Oct 25, 2023, and it took 50 days to get back to the old high. Volatility has been 6.0% a year.
Related: DMBS chart, DMBS dividends, DMBS bond profile. See the DMBS overview for the latest quote and fund facts.
DMBS performance FAQ
What is the DMBS return over the past year?
DMBS returned −1.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.1%.
How much would $10,000 invested in DMBS be worth?
$10,000 invested in DMBS at its first recorded close on April 4, 2023 would be worth about $11,059 on October 23, 2026 with distributions reinvested.
What was the worst year for DMBS?
The worst calendar year was 2024, with a total return of +2.1%. The best was 2025 at +8.5%.
What is the biggest drawdown of DMBS?
The largest peak-to-trough decline was −8.1% between April 5, 2023 and October 25, 2023. It recovered to the old high on December 14, 2023, 50 days after the bottom.
How volatile is DMBS?
Over the past 3 years DMBS had an annualized volatility of 6.0% and a Sharpe ratio of 0.08 (excess return over 1–3 month T-bills per unit of risk).