Understanding the REGAN FLOATING RATE MBS ETF (MBSF)

What this ETF is trying to do

The REGAN FLOATING RATE MBS ETF (ticker: MBSF) is an exchange-traded fund listed on the NYSE. While specific holdings are not listed in this report, the name suggests it focuses on mortgage-backed securities with floating interest rates.

What the numbers show

It is important to understand that "price return" and "total return" tell different stories. Price return only tracks how much the share price moves. Total return includes both the price movement and the cash distributions paid out to investors.

As of October 9, 2026, the current price is $25.47. Looking at the estimated price from roughly one year ago, which was approximately $25.48, we can see how the price has moved:

• Year-to-Date (YTD): The price return is approximately -0.68%. However, the YTD total return is approximately 2.32%.

• One-Year: The price return is approximately -4.28%. However, the one-year total return is approximately 4.30%.

Because the total return is higher than the price return, it shows that the cash distributions helped boost the overall value for investors.

Income and distribution explanation

This ETF provides regular cash payments, known as distributions. The distribution yield is approximately 4.29%. This number describes the cash paid out relative to the current ETF price.

The fund usually pays distributions monthly, with 12 payments made over the last year. Based on recent data, these payments often occur on Wednesdays. While distributions provide cash income, they are not the same as total return, and a high yield does not guarantee that your original investment will stay at the same value.

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of the underlying assets in a fund decreases over time. Investors often care about this because they want to keep their original principal (the money they put in) stable.

For MBSF, the erosion-risk score is 94, which is labeled as "Stable / sideways." The erosion severity is rated as "good," and there is no severe erosion-risk flag present. This suggests the fund's price trends are currently considered stable by StockValueFinder's measurements.

Pros

• The fund provides regular monthly cash distributions.

• The total return has been positive over the last year, even though the share price itself declined slightly.

Cons

• The share price has seen a slight decline over the last year (a price return of approximately -4.28%).

• There is no data available for three-year returns to show long-term trends.

Beginner takeaway

When looking at an ETF like MBSF, remember that the share price and the total return are different. Even if the share price goes down slightly, the total return can be positive if the fund pays out enough cash through distributions. Always look at both numbers to get a full picture of how the fund is performing.