FlexShares Disciplined Duration MBS Index Fund (MBSD) Performance
MBSD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.6% since Dec 31, 2025
- 1 year
- −0.1% total return
- 5 years
- +0.5% a year
- 10 years
- +1.2% a year
- Since first price
- +1.5% a year since 2014
MBSD trailing returns vs AGG, TLT, SPY
| Period | MBSD total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.1% | +0.8% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.3% | −1.2% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.3% | −3.0% | −1.5% | −3.8% | +7.8% |
| YTD | −0.6% | −3.2% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.1% | −4.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +16.3%+5.2%/yr | +3.4% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +2.6%+0.5%/yr | −14.0% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +12.6%+1.2%/yr | −19.0% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionSep 4, 2014 | +19.1%+1.5%/yr | −19.6% | — | — | — |
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: MBSD vs AGG
From Sep 4, 2014: MBSD grew to $11,914, AGG to $12,262.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MBSD returns by calendar year
9 of 11 full years positive. Best 2025 (+7.1%), worst 2022 (−9.5%). 2026 is year to date.
MBSD annual returns table
| Year | MBSD | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.6% | −4.0% | −1.0% | −3.4% | +12.3% |
| 2025 | +7.1% | −2.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +2.3% | −3.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +4.5% | −5.4% | +5.7% | +2.8% | +26.2% |
| 2022 | −9.5% | −12.7% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.4% | −1.8% | −1.8% | −4.6% | +28.7% |
| 2020 | +5.4% | −3.0% | +7.5% | +18.2% | +18.3% |
| 2019 | +6.1% | −1.0% | +8.5% | +14.1% | +31.2% |
| 2018 | +0.3% | −2.0% | +0.1% | −1.6% | −4.6% |
| 2017 | +0.9% | −1.5% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.5% | −3.1% | +2.4% | +1.2% | +12.0% |
| 2015 | +1.9% | −2.0% | +0.5% | −1.8% | +1.2% |
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.
MBSD largest drawdowns
Now 2.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 2, 2021 | −14.4% | Oct 20, 2022 | Sep 4, 2025 | 1.7 years | 4.6 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
MBSD risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +4.4% | +0.2% | +1.1% | +1.3% |
| Volatility (annualized) | 4.3% | 5.0% | 3.8% | 3.5% |
| Sharpe ratio | -0.00 | -0.67 | -0.30 | -0.14 |
| Sortino ratio | -0.00 | -0.82 | -0.39 | -0.18 |
| Best month | +3.2% | +3.2% | +3.2% | +3.2% |
| Worst month | −2.0% | −3.8% | −3.8% | −3.8% |
| Best 12 months | +10.3% | +10.3% | +10.3% | +10.3% |
| Worst 12 months | −0.5% | −12.4% | −12.4% | −12.4% |
| Positive months | 72% | 55% | 55% | 58% |
| Beta vs S&P 500 | 0.15 | 0.19 | 0.10 | — |
| Correlation with S&P 500 | 0.45 | 0.60 | 0.42 | — |
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.
MBSD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 134 | −12.4% | +1.8% | +10.3% | 69% |
| 3-year (a year) | 110 | −4.0% | +1.3% | +5.3% | 70% |
| 5-year (a year) | 86 | −0.5% | +0.6% | +2.7% | 92% |
| 10-year (a year) | 26 | +1.0% | +1.3% | +1.6% | 100% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
MBSD performance overview
FlexShares Disciplined Duration MBS Index Fund (MBSD) returned −0.1% over the past year and +1.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +1.5% a year, turning $10,000 into about $11,914. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −14.4%, from Feb 2, 2021 to Oct 20, 2022, and it took 2.9 years to get back to the old high. MBSD finished 9 of its 11 full calendar years with a gain; the best year was 2025 (+7.1%) and the worst 2022 (−9.5%). Volatility has been 3.5% a year.
Related: MBSD chart, MBSD dividends, MBSD bond profile. See the MBSD overview for the latest quote and fund facts.
MBSD performance FAQ
What is the MBSD return over the past year?
MBSD returned −0.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.1%.
What is the average annual return of MBSD?
MBSD has returned +0.5% a year over 5 years, +1.2% a year over 10 years, +1.5% a year since September 4, 2014 (total return, distributions reinvested).
How much would $10,000 invested in MBSD be worth?
$10,000 invested in MBSD at its first recorded close on September 4, 2014 would be worth about $11,914 on October 23, 2026 with distributions reinvested.
What was the worst year for MBSD?
The worst calendar year was 2022, with a total return of −9.5%. The best was 2025 at +7.1%.
What is the biggest drawdown of MBSD?
The largest peak-to-trough decline was −14.4% between February 2, 2021 and October 20, 2022. It recovered to the old high on September 4, 2025, 2.9 years after the bottom.
How volatile is MBSD?
Over the past 3 years MBSD had an annualized volatility of 4.3% and a Sharpe ratio of -0.00 (excess return over 1–3 month T-bills per unit of risk).