The Vanguard Mortgage-Backed Securities Index ETF also tracks a group of investment-grade, high-quality mortgage-backed securities issued by U.S. mortgage agencies, like Ginnie Mae, Freddie Mac and Fannie Mae. VMBS has a 2.8 year duration and a 1.74% 30-day SEC yield.

The SPDR Barclays Mortgage Backed Bond ETF tracks a similar index of mortgage securities and comes with a 3.87 year duration and 2.32% 30-day SEC yield.

The iShares CMBS ETF takes on non-agency and agency commercial mortgage-backed securities. CMBS has a slightly higher credit risk exposure, but it also offers a higher 2.37% 30-day SEC yield and comes with a 4.2 year duration.

The iShares Core GNMA Bond ETF specifically targets mortgage-backed pass-through securities guaranteed by the Government National Mortgage Association, or Ginnie Mae. GNMA has a 2.69 year duration and a 1.93% 30-day SEC yield.

The FlexShares Disciplined Duration MBS Index Fund seeks to limit duration exposure to government agency issued MBS. Nevertheless, MBSD currently shows a similar duration profile to the other MBS-related ETFs at 3.07 years. The ETF comes with a 1.75% 30-day SEC yield.

Lastly, the First Trust Low Duration Mortgage Opportunities ETF is actively managed and focuses on low-duration MBS. The ETF can also include non-government-sponsored securities to generate income. LMBS has a 2.26 year duration and a 2.97% 30-day SEC yield.

For more information on the fixed-income market, visit our bond ETFs category.

Max Chen contributed to this article.