Total Return Income ETF | RMBS

Regan Total Return Income UCITS ETF – Acc

Actively managed fund seeking high yields and low duration by investing in high quality, U.S. government backed residential mortgage-backed securities (RMBS).

Case for a Total Return Income ETF

Quality

Agency residential mortgage-backed securities (RMBS) are backed by either the U.S. government or a government-sponsored entity, doubling as a credit quality enhancement to an overall fixed income allocation.

Gain exposure to U.S. mortgages

At approximately $10.7 trillion, the agency mortgage-backed securities (MBS) market is larger than the entire corporate bond market, offering substantial depth and liquidity. This opportunity gives non-U.S. investors access to one of the largest portions of the U.S. fixed income market.

Income and experience

Income producing fund actively managed by Regan’s experienced team, which has been investing in the fixed income space for 14+ years on behalf of their investors.

Meet the Management Team

Skyler Weinand, CFA | Founder and Chief Investment Officer

24 years of investment experience

Prior to forming Regan in August 2011, Mr. Weinand was head of residential and consumer asset-backed (ABS) securities trading at Cantor Fitzgerald from July 2007 to March 2011. Prior to that, Mr. Weinand was responsible for trading a $2+ billion mortgage-backed securities (MBS) portfolio at Sit Investment Associates from July 2005 to June 2007. From 2001 to 2005 Mr. Weinand was employed with GMAC -RFC, where he was responsible for portfolio valuation on a $1 billion MBS subordinate book, structuring collateralized debt obligations and structuring the first re-performing securitizations to come to market. Mr. Weinand is a graduate of the Carlson School of Management at the University of Minnesota with Bachelor of Science degrees in Finance and Management Information Systems.

Chris Hall | Senior Portfolio Manager

23 years of investment experience

Prior to joining Regan in June 2013, Mr. Hall was Partner and Co -Head of Sales at Auriga USA, LLC, a broker-dealer based in New York City, and a Director of Fixed Income Sales at KeyBanc Capital Markets, where he focused on selling residential and asset-backed securities to money managers, hedge funds and insurance companies. From 2005 -2008, Chris was Vice President of Mortgage Derivatives Institutional Trading at Cantor Fitzgerald. Chris started his career at Merrill Lynch & Co in 2002. Mr. Hall is a graduate of William’s College, with a Bachelor of Arts degree in Economics.

Investment Strategy

The Regan Total Return Income UCITS ETF aims to meet the demand for low duration, high quality, U.S. government backed fixed income and aims to outperform traditional cash instruments while maintaining high liquidity in an ETF structure through active management. This $12+B market is often overlooked by investors, primarily because the product is deemed too complex for retail investors to transact on individual securities. The liquid alternatives sector is under served, with an estimated $28 billion of assets managed in ETFs and mutual funds, leaving significant growth opportunities for Regan to provide dedicated exposure to the asset class for non-U.S. investors.

Key features:

  • The ETF targets 1%+ over base cash yields
  • Using fundamental loan-level analysis combined with quantitative modelling to identify what management believes to be securities with compelling risk-reward profiles.
  • The ETF would target a duration of less than one year
As of 08.10.2026

Fund Objective

Regan Total Return Income UCITS ETF (RMBS) was launched in an effort to meet the demand for low duration, high quality fixed income by providing access to Residential Mortgage-Backed Securities backed by the U.S. Government or its Agencies. The fund aims to outperform traditional cash instruments while maintaining high liquidity in an ETF structure.

Senior portfolio managers, with over 40 years of combined experience in the asset class, established Regan Total Return Income UCITS in response to the demand for an active management solution that seeks to outperform traditional products, like money market funds and treasury bills, by investing primarily in agency, floating-rate and fixed-rate residential mortgage-backed securities. This opportunity through a UCITS vehicle enables ease of access to this particular sector of the U.S. investment market.

Key Information

Inception Date23/06/2025
Base CurrencyUSD
Net Assets of Fund$1,175,106
TER75 bps
Investment StyleActive
DomicileIreland
SFDR ClassificationArticle 6
ISINIE000TD32PU3

Key Risks

When you invest in ETFs your capital is fully at risk and may not get back the amount originally invested. Exchange rates can have a positive or negative effect on returns. The value of equities and equity-related securities can be affected by daily stock and currency market movements.

Fund Information

TickerRMBS
Asset ClassFixed Income
Income TreatmentAccumulating
Investment StyleActive

Net Asset Values

As of 08.10.2026
NAV$10.68
Net assets of Fund$1,175,106
Shares Outstanding110,000
Issuer AUM$624,804,825

Fund Structure

UCITS CompliantYes
UCITS EligibleYes
ISA EligibleYes
SIPP EligibleYes
UK Fund Reporting StatusYes

Key service providers

CustodianU.S. Bank Europe DAC trading as U.S Bank Depositary Services Limited
Portfolio ManagerRegan Capital, LLC
IssuerHANetf II ICAV

Registrations

austria Flag Austria
denmark Flag Denmark
finland Flag Finland
france Flag France
germany Flag Germany
ireland Flag Ireland
italy Flag Italy
luxembourg Flag Luxembourg
netherlands Flag Netherlands
norway Flag Norway
sweden Flag Sweden
uk Flag United Kingdom

Listings & Codes

ExchangeTickerRICSEDOLCCYListing Date
Borsa ItalianaRMBS IMRMBR.MIBVBMJ48€2025-07-02
LSERMBP LNRMBP.LBMCL4W4£2025-07-02
LSERMBS LNHARMBS.LBMCL4V3$2025-07-02
XetraMBSR GYMBSR.DEBVBMJ26€2025-06-25
Exchange Borsa Italiana
Ticker RMBS IM
RIC RMBR.MI
SEDOL BVBMJ48
CCY €
Listing Date 2025-07-02
Exchange LSE
Ticker RMBP LN
RIC RMBP.L
SEDOL BMCL4W4
CCY £
Listing Date 2025-07-02
Exchange LSE
Ticker RMBS LN
RIC HARMBS.L
SEDOL BMCL4V3
CCY $
Listing Date 2025-07-02
Exchange Xetra
Ticker MBSR GY
RIC MBSR.DE
SEDOL BVBMJ26
CCY €
Listing Date 2025-06-25

Performance

RMBS (Fund)
1M1.28%
3M2.07%
6M2.89%
YTD3.86%
12M5.76%
3Y-
Since Inception (23/06/2025)7.94%
NAV

Source: HANetf, data as of 31.08.2026. Please note that all performance figures are showing net data. Performance before inception is based on back-tested data. Back-testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (”Prospectus”) before investing and should refer to the section of the Prospectus entitled ”Risk Factors” for further details of risks associated with an investment in this product. If fund is less than 12 months old, YTD field will be calculated since inception. When you invest in ETFs your capital is at risk.

Holdings As of 08.10.2026

No. of holdings: 16

NameWeight
Cash & Other10.53%
GNR 2009-92 FC FLT 10/16/39 SR:92 Tranche:FC 4.78% 10/16/203910.17%
FHR 4821 FA FLT 07/15/48 SR:4821 Tranche:FA 4.06% 07/15/204810.15%
FNR 2007-85 FG FLT 09/25/37 SR:85 Tranche:FG 4.3% 09/25/20378.36%
FHR 3947 FC FLT 10/15/41 SR:3947 Tranche:FC 4.31% 10/15/20417.71%
GNR 2024-43 FB FLT 03/20/54 SR:43 Tranche:FB 4.6% 03/20/20547.15%
FNR 2013-99 FA FLT 05/25/43 SR:99 Tranche:FA 4.1% 05/25/20436.26%
FHR 4073 FT FLT 06/15/42 SR:4073 Tranche:FT 4.11% 06/15/20426.12%
GNR 2016-H06 FD FLT 07/20/65 SR:H06 Tranche:FD 4.69% 07/20/20655.56%
FNR 2016-64 FA FLT 09/25/46 SR:64 Tranche:FA 4.3% 09/25/20465.24%

SectorWeight
Mortgage Securities72.20%
Government17.30%
Other10.53%

Knowledge hub

Explore our expert-written monthly fund reports, periodic reviews, and key insights.

Press Coverage

ETF Express

Regan Capital enters Europe with actively managed total return income ETF: RMBS

ETF Stream

Regan Capital enters Europe with active residential mortgage-backed securities ETF

Investment Manager

Regan Capital, LLC (“Regan”) serves as an investment advisor to the Fund (the “Advisor”). Regan was founded in 2011 in Dallas, TX and specialises in mortgage-backed securities.  Regan (a SEC Registered Investment Advisor) manages approximately $2.6 billion in total assets across several investment vehicles, such as 40 Act funds, exchange traded funds, private placement funds, and separately managed accounts. Clients include but are not limited to endowments, insurance companies, family offices, registered investment advisors, and high net worth individuals.

Regan Capital is a specialised investment manager with deep expertise in structured credit, particularly residential mortgage-backed securities (RMBS). The firm focuses on senior, well-structured, and collateralised securities designed to preserve capital while delivering competitive, risk-adjusted returns through active management.

Regan undertakes a disciplined, research-driven approach, the team targets opportunities across the RMBS landscape that offer strong underlying fundamentals and resilient cash flows. Their investment philosophy emphasises rigorous credit analysis, active portfolio management, and prudent risk controls to ensure long-term performance and capital integrity.

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