Regan Fixed Rate MBS ETF (MBSX)

The Regan Fixed Rate MBS ETF is an actively managed bond fund advised by Regan Capital, a firm focused on the mortgage-backed securities market. The fund invests primarily in fixed-rate mortgage-backed securities, with an emphasis on securities issued or guaranteed by U.S. government agencies and government-sponsored enterprises.

Rather than tracking an index, the managers select securities based on their assessment of prepayment risk, deal structure and relative value, seeking income and total return from the fixed-rate segment of the mortgage market. It serves as a companion to the firm's floating-rate MBS ETF.