ETF Evaluator:
CCM Affordable Housing MBS ETF ()
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(as of Aug 26)
Best Performing in Government Mortgage-Backed Bond Over the Last Year
| 5.3% | Regan Floating Rate MBS ETF (MBSF) |
| 4.6% | PIMCO Mortgage-Backed Securities Act ETF (PMBS) |
| 4.5% | iShares Mortgage-Backed Secs Act ETF (MBBA) |
| 4.4% | Janus Henderson Mortgage-Backed Sec ETF (JMBS) |
| 4.3% | Vanguard Mortgage-Backed Secs ETF (VMBS) |
Risk
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Risk
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ETF Details
CCM Affordable Housing MBS ETF Overview
CCM Affordable Housing MBS ETF (OWNS) is an actively managed Taxable Bond Government Mortgage-Backed Bond exchange-traded fund (ETF). Community Capital Management launched the ETF in 2021.
The investment seeks to generate a level of current income.
Under normal circumstances, the fund will invest at least 80% of its net assets in mortgage-backed securities backed by pools of mortgage loans that the Adviser believes were made to minority families, low- and moderate-income or workforce families, and/or families that live in persistent poverty areas. The fund is non-diversified.
About CCM Affordable Housing MBS ETF (OWNS)
There are 4 members of the management team with an average tenure of 4.78 years: Elliot Gilfarb (2021), Andy Kaufman (2021), Jessica Botelho (2021) and Shonali Pal (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US MBS TR USD index with a weighting of 100%. CCM Affordable Housing MBS ETF has 260 securities in its portfolio. The top 10 holdings constitute 24.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.
CCM Affordable Housing MBS ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. CCM Affordable Housing MBS ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.0% (96.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). CCM Affordable Housing MBS ETF has 4.0% of the portfolio in cash.
Assets Under Management
The fund has $104 million in total assets, which is below the $5 billion average for the Government Mortgage-Backed Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
OWNS Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The CCM Affordable Housing MBS ETF expense ratio is below average compared to funds in the Government Mortgage-Backed Bond category. CCM Affordable Housing MBS ETF has an expense ratio of 0.30%, which is 21% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. CCM Affordable Housing MBS ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 210% for the Government Mortgage-Backed Bond category.
Recently, in the month of July 2026, CCM Affordable Housing MBS ETF returned -1.5%, which earned it a grade of D, as the Government Mortgage-Backed Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
CCM Affordable Housing MBS ETF has a trailing yield of 4.38%, which is below the 4.68% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
CCM Affordable Housing MBS ETF Grades
Year to date, the ETF has returned -0.6%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.9% over the past year (grade of F), 3.8% over the past three years (grade of F) and -0.1% per year over the past five years (grade of F).
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OWNS Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| OWNS Return (NAV) | -1.5% | -1.0% | 3.9% | 3.8% | -0.1% | na |
| OWNS Return (Price) | -1.4% | -1.0% | 4.1% | 3.8% | -0.0% | na |
| NAV +/- Price Return | -0.088% | -0.003% | -0.139% | -0.036% | -0.036% | na |
| Government Mortgage-Backed Bond Avg | -1.3% | -0.8% | 4.2% | 4.2% | 0.2% | 1.3% |
| OWNS Grade (NAV) | D | D | F | F | F | na |
| +/- Category (NAV) | -0.2% | -0.2% | -0.3% | -0.4% | -0.3% | na |
| OWNS Tax-Cost Ratio | na | na | 1.7% | 1.5% | 1.3% | na |
OWNS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| OWNS Return (NAV) | -0.6% | 8.0% | 1.5% | 4.4% | -11.3% | na | na | na | na | na | na |
| OWNS Return (Price) | -0.5% | 7.7% | 1.7% | 4.1% | -11.0% | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.189% | -0.033% | 0.120% | -0.068% | -0.023% | na | na | na | na | na | na |
| Government Mortgage-Backed Bond Avg | -0.0% | 8.1% | 1.7% | 5.1% | -11.6% | -1.0% | 4.5% | 6.3% | 0.7% | 2.2% | 1.5% |
| OWNS Grade (NAV) | F | D | C | F | B | na | na | na | na | na | na |
| +/- Category | -0.6% | -0.1% | -0.2% | -0.7% | 0.3% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 1.12 |
| R-Squared: | 99% |
| Standard Deviation: | 6.3% |
| Category Risk Index: | 1.03 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.52 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.4% |
| Total Assets: | $ 105 Mil |
| Share Class Assets: | $ 105 Mil |
| Turnover: | na |
| Expense Ratio: | 0.30% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | Yes |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 5.0 years | |||
| Average Tenure: 4.8 years | |||
| Managers (Year): Gilfarb Elliot (2021), Kaufman Andy (2021), Botelho Jessica (2021), Pal Shonali (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 260 |
| % in Top 10 Holdings: | 24.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 96.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Community Capital Management |
| Phone Number: | 866-202-3573 |
| Website: | |
| Inception Date: | July 27, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.30% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.25% |
