CPAG vs. BTOT

Last updated Jun 4, 2026

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

Performance

CPAG vs. BTOT - Performance Comparison

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

Returns By Period

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

CPAG

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

BTOT

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

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

CPAG vs. BTOT - Yearly Performance Comparison

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

Correlation

The correlation between CPAG and BTOT 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

CPAG vs. BTOT - Risk-Adjusted Trends Comparison

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

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

Drawdowns

CPAG vs. BTOT - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

Volatility by Period

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

CPAG vs. BTOT - Expense Ratio Comparison

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

Dividends

CPAG vs. BTOT - Dividend Comparison

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

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 CPAG and BTOT in my portfolio?

With a correlation of 0.97, CPAG and BTOT 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, CPAG or BTOT?

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, CPAG or BTOT?

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

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

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

What is the main difference between CPAG and BTOT?

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