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So, what in the world is a **Mortgage-Backed Securities (MBS) ETF**? Think of it like this: when you get a mortgage, you're essentially borrowing money from a bank to buy a house. The bank, in turn, can bundle a bunch of these mortgages together and sell them to investors as securities. These securities are known as mortgage-backed securities, and they represent a claim on the cash flows generated by those underlying mortgages. Now, an **ETF (Exchange-Traded Fund)** is a type of investment fund that holds a portfolio of assets and trades on stock exchanges. In the case of an MBS ETF, the fund holds a collection of mortgage-backed securities, allowing investors to gain exposure to the mortgage market without having to buy individual securities.