Regan Floating Rate MBS ETF (MBSF)

The Regan Floating Rate MBS ETF is an actively managed fixed income fund advised by Regan Capital, a manager specializing in mortgage-backed securities. The fund seeks to provide current income by investing mainly in floating-rate mortgage-backed securities, primarily agency collateralized mortgage obligations whose coupons reset periodically with short-term interest rates.

Because the coupons adjust with market rates, the portfolio is designed to carry relatively low interest rate sensitivity compared with fixed-rate bond funds. Regan Capital selects individual securities based on its analysis of prepayment behavior, structure and relative value rather than following an index.