CPAG vs. ZTOP

Last updated Jun 4, 2026

CPAG (F/m Compoundr U.S. Aggregate Bond ETF) and ZTOP (F/m High Yield 100 ETF) are both exchange-traded funds - CPAG is a Total Bond Market fund tracking the Nasdaq Compoundr U.S. Aggregate Bond Index, while ZTOP is a High Yield Bonds fund tracking the Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. CPAG charges 0.31%/yr vs 0.39%/yr for ZTOP.

Performance

CPAG vs. ZTOP - 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 High Yield 100 ETF (ZTOP). 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 ZTOP's 1.53% return.

CPAG

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

ZTOP

• 1D: -0.22%
• 1M: 0.35%
• YTD: 1.53%
• 6M: 2.09%
• 1Y: 6.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPAG vs. ZTOP - Yearly Performance Comparison

	2026 (YTD)	2025
CPAG F/m Compoundr U.S. Aggregate Bond ETF	-0.02%	2.22%
ZTOP F/m High Yield 100 ETF	1.53%	2.68%

Correlation

The correlation between CPAG and ZTOP is 0.62, 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	0.62

Return for Risk

CPAG vs. ZTOP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZTOP

ZTOP Risk / Return Rank: 63
ZTOP Sharpe Ratio Rank: 60
ZTOP Sortino Ratio Rank: 66
ZTOP Omega Ratio Rank: 68
ZTOP Calmar Ratio Rank: 53
ZTOP Martin Ratio Rank: 66

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.

CPAG vs. ZTOP - 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 High Yield 100 ETF (ZTOP). 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	ZTOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	2.48	-1.73

Drawdowns

CPAG vs. ZTOP - Drawdown Comparison

The maximum CPAG drawdown since its inception was -2.78%, which is greater than ZTOP's maximum drawdown of -2.52%. Use the drawdown chart below to compare losses from any high point for CPAG and ZTOP.

Drawdown Indicators

	CPAG	ZTOP	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-2.52%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.52%	—
Current Drawdown Current decline from peak	-1.68%	-0.27%	-1.41%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.29%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.55%	—

Volatility

Volatility by Period

	CPAG	ZTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.67%	3.29%	+0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.67%	3.49%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.67%	3.49%	+0.18%

CPAG vs. ZTOP - Expense Ratio Comparison

CPAG has a 0.31% expense ratio, which is lower than ZTOP's 0.39% expense ratio.

Dividends

CPAG vs. ZTOP - Dividend Comparison

CPAG has not paid dividends to shareholders, while ZTOP's dividend yield for the trailing twelve months is around 6.24%.

Position	TTM	2025
CPAG F/m Compoundr U.S. Aggregate Bond ETF	0.00%	0.00%
ZTOP F/m High Yield 100 ETF	6.24%	4.39%

Frequently Asked Questions

Can I hold both CPAG and ZTOP in my portfolio?

CPAG and ZTOP have a correlation of 0.62, 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 ZTOP?

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 ZTOP?

CPAG is cheaper with a 0.31% expense ratio, compared with 0.39% for ZTOP.

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

ZTOP has the higher dividend yield at 6.24%, compared with 0.00% for CPAG.

What is the main difference between CPAG and ZTOP?

CPAG is categorized as Total Bond Market, while ZTOP is High Yield Bonds. CPAG tracks Nasdaq Compoundr U.S. Aggregate Bond Index, while ZTOP tracks Bloomberg U.S. High Yield Top 100 Quality Select Equal Weighted Index. Their fees differ too: 0.31% for CPAG and 0.39% for ZTOP.