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CGCP vs. BYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CGCP vs. BYLD

Last updated Jun 4, 2026

CGCP (Capital Group Core Plus Income ETF) and BYLD (iShares Yield Optimized Bond ETF) are both Intermediate Core-Plus Bond funds. CGCP is actively managed, while BYLD is passively managed. Over the past 3 years, CGCP returned 5.07%/yr vs 6.49%/yr for BYLD. Their correlation of 0.88 suggests significant overlap in exposure. CGCP charges 0.34%/yr vs 0.17%/yr for BYLD.

Performance

CGCP vs. BYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Capital Group Core Plus Income ETF (CGCP) and iShares Yield Optimized Bond ETF (BYLD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CGCP achieves a 0.33% return, which is significantly lower than BYLD's 1.23% return.

CGCP

1D
-0.31%
1M
0.27%
YTD
0.33%
6M
0.37%
1Y
5.84%
3Y*
5.07%
5Y*
—
10Y*
—

BYLD

1D
-0.18%
1M
0.61%
YTD
1.23%
6M
1.35%
1Y
7.01%
3Y*
6.49%
5Y*
2.21%
10Y*
3.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CGCP vs. BYLD - Yearly Performance Comparison

2026 (YTD)2025202420232022
CGCP
Capital Group Core Plus Income ETF		0.33%7.35%2.95%7.17%-9.78%
BYLD
iShares Yield Optimized Bond ETF		1.23%8.41%4.17%8.30%-6.62%

Correlation

The correlation between CGCP and BYLD is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.84

Correlation (3Y)
Calculated over the trailing 3-year period

0.87

Correlation (All Time)
Calculated using the full available price history since Feb 25, 2022

0.88

The correlation between CGCP and BYLD has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

CGCP vs. BYLD - Sectors Allocation Comparison

Sectors
CGCP
BYLD

Real Estate

97.3%
0.8%

Energy

2.8%
99.2%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Real Estate

CGCP
97.3%
BYLD
0.8%

Energy

CGCP
2.8%
BYLD
99.2%

Basic Materials

CGCP

-

BYLD

-

Communication Services

CGCP

-

BYLD

-

Consumer Cyclical

CGCP

-

BYLD

-

Consumer Defensive

CGCP

-

BYLD

-

Financial Services

CGCP

-

BYLD

-

Healthcare

CGCP

-

BYLD

-

Industrials

CGCP

-

BYLD

-

Technology

CGCP

-

BYLD

-

Utilities

CGCP

-

BYLD

-

Compare stocks, funds, or ETFs

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Capital Group Core Plus Income ETF

iShares Yield Optimized Bond ETF

Often compared with CGCP:
CGCP vs. ABNFXCGCP vs. JCPBCGCP vs. ICMUXCGCP vs. BNDCGCP vs. BIVCGCP vs. IEICGCP vs. SCHG
Often compared with BYLD:
BYLD vs. IGEBBYLD vs. FBNDBYLD vs. BONDBYLD vs. TOTLBYLD vs. BNDBYLD vs. USHYBYLD vs. AGG

Return for Risk

CGCP vs. BYLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CGCP
CGCP Risk / Return Rank: 4545
Overall Rank
CGCP Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
CGCP Sortino Ratio Rank: 4747
Sortino Ratio Rank
CGCP Omega Ratio Rank: 4444
Omega Ratio Rank
CGCP Calmar Ratio Rank: 4545
Calmar Ratio Rank
CGCP Martin Ratio Rank: 4545
Martin Ratio Rank
BYLD
BYLD Risk / Return Rank: 5555
Overall Rank
BYLD Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
BYLD Sortino Ratio Rank: 5757
Sortino Ratio Rank
BYLD Omega Ratio Rank: 5656
Omega Ratio Rank
BYLD Calmar Ratio Rank: 5252
Calmar Ratio Rank
BYLD Martin Ratio Rank: 5959
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CGCP vs. BYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Capital Group Core Plus Income ETF (CGCP) and iShares Yield Optimized Bond ETF (BYLD). 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.

CGCPBYLDDifference
Sharpe ratioReturn per unit of total volatility
1.58
1.85

-0.26

Sortino ratioReturn per unit of downside risk
2.36
2.76

-0.40

Omega ratioGain probability vs. loss probability

1.29

1.35

-0.06

Calmar ratioReturn relative to maximum drawdown

2.27

2.60

-0.33

Martin ratioReturn relative to average drawdown

7.46

10.54

-3.07

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CGCP vs. BYLD - Sharpe Ratio Comparison

The current CGCP Sharpe Ratio is 1.58, which is comparable to the BYLD Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of CGCP and BYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

CGCPBYLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.58

1.85

-0.26

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.43

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.56

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.57

-0.31

Drawdowns

CGCP vs. BYLD - Drawdown Comparison

The maximum CGCP drawdown since its inception was -15.06%, roughly equal to the maximum BYLD drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for CGCP and BYLD.

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Drawdown Indicators

CGCPBYLDDifference

Max Drawdown

Largest peak-to-trough decline

-15.06%

-14.75%

-0.31%

Max Drawdown (1Y)

Largest decline over 1 year

-2.59%

-2.71%

+0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-5.37%

-3.94%

-1.43%

Max Drawdown (5Y)

Largest decline over 5 years

—

-14.65%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-14.75%

—

Current Drawdown

Current decline from peak

-1.16%

-0.34%

-0.82%

Average Drawdown

Average peak-to-trough decline

-4.93%

-2.51%

-2.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.78%

0.67%

+0.11%

Volatility

CGCP vs. BYLD - Volatility Comparison

The current volatility for Capital Group Core Plus Income ETF (CGCP) is 1.33%, while iShares Yield Optimized Bond ETF (BYLD) has a volatility of 1.42%. This indicates that CGCP experiences smaller price fluctuations and is considered to be less risky than BYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CGCPBYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.33%

1.42%

-0.09%

Volatility (6M)

Calculated over the trailing 6-month period

2.73%

2.94%

-0.21%

Volatility (1Y)

Calculated over the trailing 1-year period

3.70%

3.82%

-0.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.36%

5.20%

+1.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.36%

5.43%

+0.93%

CGCP vs. BYLD - Expense Ratio Comparison

CGCP has a 0.34% expense ratio, which is higher than BYLD's 0.17% expense ratio.

Dividends

CGCP vs. BYLD - Dividend Comparison

CGCP's dividend yield for the trailing twelve months is around 5.16%, less than BYLD's 5.36% yield.

PositionTTM20252024202320222021202020192018201720162015
BYLD
iShares Yield Optimized Bond ETF		5.36%5.32%5.31%4.45%3.39%2.18%3.41%3.67%4.22%3.22%3.14%3.37%
CGCP
Capital Group Core Plus Income ETF		5.16%5.10%5.17%4.98%2.96%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

CGCP and BYLD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BYLD has higher volatility (1.42%) compared to CGCP (1.33%). In terms of maximum drawdown, CGCP dropped -15.06% vs BYLD's -14.75%.

On 3-year performance, BYLD leads with 6.49% vs 5.07% for CGCP. On fees, BYLD is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, BYLD has performed better with a 6.49% return vs 5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BYLD is cheaper with a 0.17% expense ratio, compared with 0.34% for CGCP.

BYLD has the higher dividend yield at 5.36%, compared with 5.16% for CGCP.

They also come from different issuers: Capital Group and iShares. Their fees differ too: 0.34% for CGCP and 0.17% for BYLD.

BYLD currently has the higher Sharpe Ratio (1.85 vs 1.58), 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.

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