BTOT vs. CPAG

Last updated Jun 4, 2026

BTOT (iShares Total USD Fixed Income Market ETF) and CPAG (F/m Compoundr U.S. Aggregate Bond ETF) are both Total Bond Market funds - BTOT tracks the Bloomberg US Total Fixed Income Market Index while CPAG tracks the Nasdaq Compoundr U.S. Aggregate Bond Index. Both are passively managed. With a 0.97 correlation, they move nearly in lockstep. BTOT charges 0.09%/yr vs 0.31%/yr for CPAG.

Performance

BTOT vs. CPAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Total USD Fixed Income Market ETF (BTOT) and F/m Compoundr U.S. Aggregate Bond ETF (CPAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTOT achieves a 0.39% return, which is significantly higher than CPAG's -0.02% return.

BTOT

• 1D: -0.21%
• 1M: 0.29%
• YTD: 0.39%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPAG

• 1D: -0.21%
• 1M: 0.14%
• YTD: -0.02%
• 6M: -0.26%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTOT vs. CPAG - Yearly Performance Comparison

	2026 (YTD)	2025
BTOT iShares Total USD Fixed Income Market ETF	0.39%	0.31%
CPAG F/m Compoundr U.S. Aggregate Bond ETF	-0.02%	0.01%

Correlation

The correlation between BTOT and CPAG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 12, 2025	0.97

Return for Risk

BTOT vs. CPAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Total USD Fixed Income Market ETF (BTOT) and F/m Compoundr U.S. Aggregate Bond ETF (CPAG). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BTOT	CPAG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.75	-0.34

Drawdowns

BTOT vs. CPAG - Drawdown Comparison

The maximum BTOT drawdown since its inception was -2.36%, smaller than the maximum CPAG drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for BTOT and CPAG.

Drawdown Indicators

	BTOT	CPAG	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-2.78%	+0.42%
Current Drawdown Current decline from peak	-1.18%	-1.68%	+0.50%
Average Drawdown Average peak-to-trough decline	-0.77%	-0.74%	-0.03%

Volatility

Volatility by Period

	BTOT	CPAG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	3.67%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.70%	3.67%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.70%	3.67%	+0.03%

BTOT vs. CPAG - Expense Ratio Comparison

BTOT has a 0.09% expense ratio, which is lower than CPAG's 0.31% expense ratio.

Dividends

BTOT vs. CPAG - Dividend Comparison

BTOT's dividend yield for the trailing twelve months is around 2.13%, while CPAG has not paid dividends to shareholders.

Position	TTM	2025
BTOT iShares Total USD Fixed Income Market ETF	2.13%	0.22%
CPAG F/m Compoundr U.S. Aggregate Bond ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTOT and CPAG in my portfolio?

With a correlation of 0.97, BTOT and CPAG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BTOT or CPAG?

On fees, BTOT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTOT or CPAG?

BTOT is cheaper with a 0.09% expense ratio, compared with 0.31% for CPAG.

Which ETF pays a higher dividend yield, BTOT or CPAG?

BTOT has the higher dividend yield at 2.13%, compared with 0.00% for CPAG.

What is the main difference between BTOT and CPAG?

BTOT tracks Bloomberg US Total Fixed Income Market Index, while CPAG tracks Nasdaq Compoundr U.S. Aggregate Bond Index. They also come from different issuers: iShares and F/m Investments. Their fees differ too: 0.09% for BTOT and 0.31% for CPAG.