BNDS vs. CPLB

Last updated Aug 2, 2026

BNDS (Infrastructure Capital Bond Income ETF) and CPLB (NYLI MacKay Core Plus Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. Over the past year, BNDS returned 9.23% vs 2.84% for CPLB. Their 0.50 correlation means they have sometimes moved together and sometimes differently. BNDS charges 0.81%/yr vs 0.30%/yr for CPLB.

Performance

BNDS vs. CPLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Infrastructure Capital Bond Income ETF (BNDS) and NYLI MacKay Core Plus Bond ETF (CPLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDS achieves a 4.11% return, which is significantly higher than CPLB's 0.10% return.

BNDS

• 1D: 0.01%
• 1M: -0.77%
• 6M: 1.77%
• YTD: 4.11%
• 1Y: 9.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.21%

CPLB

• 1D: -0.20%
• 1M: -1.01%
• 6M: -0.25%
• YTD: 0.10%
• 1Y: 2.84%
• 3Y*: 5.40%
• 5Y*: 0.42%
• 10Y*: —
• ALL TIME*: 0.66%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNDS Infrastructure Capital Bond Income ETF	$2.24M	$2.01M	$1.56M
CPLB NYLI MacKay Core Plus Bond ETF	$2.63M	$2.45M	$1.64M

BNDS vs. CPLB - Yearly Performance Comparison

	2026 (YTD)	2025
BNDS Infrastructure Capital Bond Income ETF	4.11%	8.45%
CPLB NYLI MacKay Core Plus Bond ETF	0.10%	8.55%

Correlation

The correlation between BNDS and CPLB is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.50

The correlation between BNDS and CPLB has been stable across timeframes, ranging from 0.49 to 0.50 - a consistent structural relationship.

Return for Risk

BNDS vs. CPLB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BNDS

BNDS Risk / Return Rank: 88
BNDS Sharpe Ratio Rank: 94
BNDS Sortino Ratio Rank: 94
BNDS Omega Ratio Rank: 94
BNDS Calmar Ratio Rank: 76
BNDS Martin Ratio Rank: 85

CPLB

CPLB Risk / Return Rank: 38
CPLB Sharpe Ratio Rank: 39
CPLB Sortino Ratio Rank: 38
CPLB Omega Ratio Rank: 36
CPLB Calmar Ratio Rank: 39
CPLB Martin Ratio Rank: 37

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BNDS vs. CPLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Infrastructure Capital Bond Income ETF (BNDS) and NYLI MacKay Core Plus Bond ETF (CPLB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BNDS	CPLB	Difference
Sharpe ratio: Return per unit of total volatility	2.55	0.98	+1.57
Sortino ratio: Return per unit of downside risk	3.68	1.42	+2.26
Omega ratio: Gain probability vs. loss probability	1.50	1.17	+0.33
Calmar ratio: Return relative to maximum drawdown	2.66	1.36	+1.30
Martin ratio: Return relative to average drawdown	11.88	3.71	+8.17

BNDS vs. CPLB - Sharpe Ratio Comparison

The current BNDS Sharpe Ratio is 2.55, which is higher than the CPLB Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of BNDS and CPLB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNDS vs. CPLB - Drawdown Comparison

The maximum BNDS drawdown since its inception was -6.96%, smaller than the maximum CPLB drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for BNDS and CPLB.

Drawdown Indicators

	BNDS	CPLB	Difference
Max Drawdown Largest peak-to-trough decline	-6.96%	-18.96%	+12.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.45%	-2.60%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.96%	—
Current Drawdown Current decline from peak	-1.08%	-1.82%	+0.74%
Average Drawdown Average peak-to-trough decline	-0.77%	-6.89%	+6.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.95%	-0.18%

Volatility

BNDS vs. CPLB - Volatility Comparison

Infrastructure Capital Bond Income ETF (BNDS) has a higher volatility of 0.88% compared to NYLI MacKay Core Plus Bond ETF (CPLB) at 0.81%. This indicates that BNDS's price experiences larger fluctuations and is considered to be riskier than CPLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDS	CPLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.81%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	2.80%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	3.59%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.09%	5.02%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.09%	4.99%	+0.10%

BNDS vs. CPLB - Expense Ratio Comparison

BNDS has a 0.81% expense ratio, which is higher than CPLB's 0.30% expense ratio.

Dividends

BNDS vs. CPLB - Dividend Comparison

BNDS's dividend yield for the trailing twelve months is around 8.11%, more than CPLB's 6.01% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDS Infrastructure Capital Bond Income ETF	8.11%	7.98%	0.00%	0.00%	0.00%	0.00%
CPLB NYLI MacKay Core Plus Bond ETF	5.54%	5.46%	5.40%	4.82%	3.17%	0.95%

Frequently Asked Questions

Can I hold both BNDS and CPLB in my portfolio?

BNDS and CPLB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDS or CPLB?

BNDS has higher volatility (0.88%) compared to CPLB (0.81%). In terms of maximum drawdown, BNDS dropped -6.96% vs CPLB's -18.96%.

Which ETF is better, BNDS or CPLB?

On 1-year performance, BNDS leads with 9.23% vs 2.84% for CPLB. On fees, CPLB is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDS or CPLB?

Over the 1-year period, BNDS has performed better with a 9.23% return vs 2.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDS or CPLB?

CPLB is cheaper with a 0.30% expense ratio, compared with 0.81% for BNDS.

Which ETF pays a higher dividend yield, BNDS or CPLB?

BNDS has the higher dividend yield at 8.11%, compared with 5.54% for CPLB.

What is the main difference between BNDS and CPLB?

They also come from different issuers: InfraCap and NYLI. Their fees differ too: 0.81% for BNDS and 0.30% for CPLB.

Which has better risk-adjusted returns?

BNDS currently has the higher Sharpe Ratio (2.55 vs 0.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.