MBS Just Had its Best Year Since 2002 – What’s in Store for 2026?

Published on February 10, 2026

2025 turned out to be a year for the ages for agency mortgage-backed securities (MBS), as the Bloomberg U.S. MBS Index registered its best calendar year of returns since 2002. The benchmark index’s 8.58% total return outperformed every major fixed income sector other than high yield (+8.62%) in 2025.

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Concentrated ETF Bests S&P 500 With Active Stock Picks

February 10, 2026
The fund’s outperformance comes as investors debate whether market leadership will broaden beyond mega-cap technology names. While passive index funds must hold all constituents regardless of fundamentals, CNEQ’s structure enables its portfolio manager to concentrate capital in companies they believe are showing accelerating growth.

Confidence, Not Complacency

February 10, 2026
Equity valuations are top of mind among investors as we move into February, amid stretched sentiment and positioning and challenging corporate earnings expectations.