CPAG vs. CPHY

Last updated Jun 4, 2026

CPAG (F/m Compoundr U.S. Aggregate Bond ETF) and CPHY (F/m Compoundr High Yield Bond ETF) are both exchange-traded funds - CPAG is a Total Bond Market fund tracking the Nasdaq Compoundr U.S. Aggregate Bond Index, while CPHY is a High Yield Bonds fund tracking the Nasdaq Compoundr U.S. High Yield Bond Index. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. CPAG charges 0.31%/yr vs 0.35%/yr for CPHY.

Performance

CPAG vs. CPHY - 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 F/m Compoundr High Yield Bond ETF (CPHY). 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 CPHY's 0.25% return.

CPAG

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

CPHY

• 1D: -0.18%
• 1M: 0.31%
• YTD: 0.25%
• 6M: 0.62%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPAG vs. CPHY - Yearly Performance Comparison

	2026 (YTD)	2025
CPAG F/m Compoundr U.S. Aggregate Bond ETF	-0.02%	2.22%
CPHY F/m Compoundr High Yield Bond ETF	0.25%	2.31%

Correlation

The correlation between CPAG and CPHY is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 13, 2025	0.59

Return for Risk

CPAG vs. CPHY - 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 F/m Compoundr High Yield Bond ETF (CPHY). 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	CPHY	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.89	-0.15

Drawdowns

CPAG vs. CPHY - Drawdown Comparison

The maximum CPAG drawdown since its inception was -2.78%, which is greater than CPHY's maximum drawdown of -2.51%. Use the drawdown chart below to compare losses from any high point for CPAG and CPHY.

Drawdown Indicators

	CPAG	CPHY	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-2.51%	-0.27%
Current Drawdown Current decline from peak	-1.68%	-0.74%	-0.94%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.56%	-0.18%

Volatility

Volatility by Period

	CPAG	CPHY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	3.59%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.67%	3.59%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.67%	3.59%	+0.08%

CPAG vs. CPHY - Expense Ratio Comparison

CPAG has a 0.31% expense ratio, which is lower than CPHY's 0.35% expense ratio.

Dividends

CPAG vs. CPHY - Dividend Comparison

Neither CPAG nor CPHY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CPAG and CPHY in my portfolio?

CPAG and CPHY have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPAG or CPHY?

On fees, CPAG is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPAG or CPHY?

CPAG is cheaper with a 0.31% expense ratio, compared with 0.35% for CPHY.

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

CPAG and CPHY have nearly identical dividend yields, around 0.00%.

What is the main difference between CPAG and CPHY?

CPAG is categorized as Total Bond Market, while CPHY is High Yield Bonds. CPAG tracks Nasdaq Compoundr U.S. Aggregate Bond Index, while CPHY tracks Nasdaq Compoundr U.S. High Yield Bond Index. Their fees differ too: 0.31% for CPAG and 0.35% for CPHY.