FCBD vs. CAFX

Last updated Jun 4, 2026

FCBD (Frontier Asset Core Bond ETF) and CAFX (Congress Intermediate Bond ETF) are both Intermediate Core Bond funds. Both are actively managed. Over the past year, FCBD returned 4.20% vs 3.95% for CAFX. Their correlation of 0.84 suggests significant overlap in exposure. FCBD charges 0.90%/yr vs 0.35%/yr for CAFX.

Performance

FCBD vs. CAFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Core Bond ETF (FCBD) and Congress Intermediate Bond ETF (CAFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCBD achieves a 0.26% return, which is significantly lower than CAFX's 0.28% return.

FCBD

• 1D: -0.12%
• 1M: 0.08%
• YTD: 0.26%
• 6M: 0.38%
• 1Y: 4.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAFX

• 1D: -0.14%
• 1M: 0.22%
• YTD: 0.28%
• 6M: 0.37%
• 1Y: 3.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCBD vs. CAFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCBD Frontier Asset Core Bond ETF	0.26%	6.29%	0.04%
CAFX Congress Intermediate Bond ETF	0.28%	6.46%	-0.00%

Correlation

The correlation between FCBD and CAFX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.84

The correlation between FCBD and CAFX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

FCBD vs. CAFX — Risk / Return Rank

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

FCBD

FCBD Risk / Return Rank: 52
FCBD Sharpe Ratio Rank: 53
FCBD Sortino Ratio Rank: 57
FCBD Omega Ratio Rank: 53
FCBD Calmar Ratio Rank: 52
FCBD Martin Ratio Rank: 48

CAFX

CAFX Risk / Return Rank: 42
CAFX Sharpe Ratio Rank: 39
CAFX Sortino Ratio Rank: 43
CAFX Omega Ratio Rank: 40
CAFX Calmar Ratio Rank: 46
CAFX Martin Ratio Rank: 41

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.

FCBD vs. CAFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Core Bond ETF (FCBD) and Congress Intermediate Bond ETF (CAFX). 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.

	FCBD	CAFX	Difference
Sharpe ratio Return per unit of total volatility	1.79	1.37	+0.42
Sortino ratio Return per unit of downside risk	2.68	2.12	+0.56
Omega ratio Gain probability vs. loss probability	1.32	1.26	+0.07
Calmar ratio Return relative to maximum drawdown	2.57	2.22	+0.35
Martin ratio Return relative to average drawdown	7.86	6.46	+1.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCBD vs. CAFX - Sharpe Ratio Comparison

The current FCBD Sharpe Ratio is 1.79, which is higher than the CAFX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of FCBD and CAFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCBD	CAFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	1.37	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	1.76	0.91	+0.85

Drawdowns

FCBD vs. CAFX - Drawdown Comparison

The maximum FCBD drawdown since its inception was -1.64%, smaller than the maximum CAFX drawdown of -2.63%. Use the drawdown chart below to compare losses from any high point for FCBD and CAFX.

Drawdown Indicators

	FCBD	CAFX	Difference
Max Drawdown Largest peak-to-trough decline	-1.64%	-2.63%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-1.79%	+0.15%
Current Drawdown Current decline from peak	-0.94%	-0.92%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.35%	-0.73%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.61%	-0.07%

Volatility

FCBD vs. CAFX - Volatility Comparison

Frontier Asset Core Bond ETF (FCBD) has a higher volatility of 0.86% compared to Congress Intermediate Bond ETF (CAFX) at 0.75%. This indicates that FCBD's price experiences larger fluctuations and is considered to be riskier than CAFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCBD	CAFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	0.75%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	1.72%	1.84%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	2.35%	2.89%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.60%	3.16%	-0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	3.16%	-0.56%

FCBD vs. CAFX - Expense Ratio Comparison

FCBD has a 0.90% expense ratio, which is higher than CAFX's 0.35% expense ratio.

Dividends

FCBD vs. CAFX - Dividend Comparison

FCBD's dividend yield for the trailing twelve months is around 4.23%, more than CAFX's 4.01% yield.

Position	TTM	2025	2024
CAFX Congress Intermediate Bond ETF	4.01%	3.92%	0.96%
FCBD Frontier Asset Core Bond ETF	4.23%	4.34%	0.08%

Frequently Asked Questions

Can I hold both FCBD and CAFX in my portfolio?

FCBD and CAFX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCBD or CAFX?

FCBD has higher volatility (0.86%) compared to CAFX (0.75%). In terms of maximum drawdown, FCBD dropped -1.64% vs CAFX's -2.63%.

Which ETF is better, FCBD or CAFX?

On 1-year performance, FCBD leads with 4.20% vs 3.95% for CAFX. On fees, CAFX is cheaper at 0.35% per year. On volatility, CAFX has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCBD or CAFX?

Over the 1-year period, FCBD has performed better with a 4.20% return vs 3.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCBD or CAFX?

CAFX is cheaper with a 0.35% expense ratio, compared with 0.90% for FCBD.

Which ETF pays a higher dividend yield, FCBD or CAFX?

FCBD has the higher dividend yield at 4.23%, compared with 4.01% for CAFX.

What is the main difference between FCBD and CAFX?

They also come from different issuers: Frontier and Congress. Their fees differ too: 0.90% for FCBD and 0.35% for CAFX.

Which has better risk-adjusted returns?

FCBD currently has the higher Sharpe Ratio (1.79 vs 1.37), 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.