FCBD vs. USFI

Last updated Aug 4, 2026

FCBD (Frontier Asset Core Bond ETF) and USFI (BrandywineGLOBAL - U.S. Fixed Income ETF) are both exchange-traded funds - FCBD is a Intermediate Core Bond fund actively managed by Frontier, while USFI is a Actively Managed fund actively managed by BrandywineGLOBAL. Both are actively managed. Over the past year, FCBD returned 2.36% vs 3.00% for USFI. Their correlation of 0.82 means they have usually moved in the same direction. FCBD charges 0.90%/yr vs 0.39%/yr for USFI.

Performance

FCBD vs. USFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Core Bond ETF (FCBD) and BrandywineGLOBAL - U.S. Fixed Income ETF (USFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCBD achieves a 0.21% return, which is significantly lower than USFI's 0.70% return.

FCBD

• 1D: 0.18%
• 1M: -0.40%
• 6M: 0.09%
• YTD: 0.21%
• 1Y: 2.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.97%

USFI

• 1D: 0.14%
• 1M: -0.69%
• 6M: 0.68%
• YTD: 0.70%
• 1Y: 3.00%
• 3Y*: 4.06%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCBD Frontier Asset Core Bond ETF	$52.16K	$72.83K	$91.38K
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	$223.65	$248.36	$6.79K

FCBD vs. USFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCBD Frontier Asset Core Bond ETF	0.21%	6.29%	-0.02%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	0.70%	6.96%	0.21%

Correlation

The correlation between FCBD and USFI is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.82

The correlation between FCBD and USFI has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

FCBD vs. USFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCBD

FCBD Risk / Return Rank: 37
FCBD Sharpe Ratio Rank: 39
FCBD Sortino Ratio Rank: 38
FCBD Omega Ratio Rank: 35
FCBD Calmar Ratio Rank: 39
FCBD Martin Ratio Rank: 36

USFI

USFI Risk / Return Rank: 46
USFI Sharpe Ratio Rank: 36
USFI Sortino Ratio Rank: 37
USFI Omega Ratio Rank: 34
USFI Calmar Ratio Rank: 71
USFI Martin Ratio Rank: 50

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCBD vs. USFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Core Bond ETF (FCBD) and BrandywineGLOBAL - U.S. Fixed Income ETF (USFI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FCBD	USFI	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.98	+0.07
Sortino ratio: Return per unit of downside risk	1.50	1.52	-0.01
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.44	2.72	-1.28
Martin ratio: Return relative to average drawdown	3.79	6.29	-2.51

FCBD vs. USFI - Sharpe Ratio Comparison

The current FCBD Sharpe Ratio is 1.05, which is comparable to the USFI Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of FCBD and USFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCBD vs. USFI - Drawdown Comparison

The maximum FCBD drawdown since its inception was -1.64%, smaller than the maximum USFI drawdown of -8.47%. Use the drawdown chart below to compare losses from any high point for FCBD and USFI.

Drawdown Indicators

	FCBD	USFI	Difference
Max Drawdown Largest peak-to-trough decline	-1.64%	-8.47%	+6.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-1.11%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.69%	—
Current Drawdown Current decline from peak	-0.99%	-0.86%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.40%	-2.06%	+1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.48%	+0.14%

Volatility

FCBD vs. USFI - Volatility Comparison

The current volatility for Frontier Asset Core Bond ETF (FCBD) is 0.64%, while BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) has a volatility of 0.73%. This indicates that FCBD experiences smaller price fluctuations and is considered to be less risky than USFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCBD	USFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.73%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	1.85%	1.66%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.27%	3.08%	-0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.57%	6.84%	-4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.57%	6.84%	-4.27%

FCBD vs. USFI - Expense Ratio Comparison

FCBD has a 0.90% expense ratio, which is higher than USFI's 0.39% expense ratio.

Dividends

FCBD vs. USFI - Dividend Comparison

FCBD's dividend yield for the trailing twelve months is around 4.18%, less than USFI's 4.51% yield.

Position	TTM	2025	2024	2023
FCBD Frontier Asset Core Bond ETF	4.18%	4.34%	0.08%	0.00%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	4.51%	4.42%	4.60%	1.83%

Frequently Asked Questions

Can I hold both FCBD and USFI in my portfolio?

FCBD and USFI have a correlation of 0.78, 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 USFI?

USFI has higher volatility (0.73%) compared to FCBD (0.64%). In terms of maximum drawdown, FCBD dropped -1.64% vs USFI's -8.47%.

Which ETF is better, FCBD or USFI?

On 1-year performance, USFI leads with 3.00% vs 2.36% for FCBD. On fees, USFI is cheaper at 0.39% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCBD or USFI?

Over the 1-year period, USFI has performed better with a 3.00% return vs 2.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCBD or USFI?

USFI is cheaper with a 0.39% expense ratio, compared with 0.90% for FCBD.

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

USFI has the higher dividend yield at 4.51%, compared with 4.18% for FCBD.

What is the main difference between FCBD and USFI?

FCBD is categorized as Intermediate Core Bond, while USFI is Actively Managed. They also come from different issuers: Frontier and BrandywineGLOBAL. Their fees differ too: 0.90% for FCBD and 0.39% for USFI.

Which has better risk-adjusted returns?

FCBD currently has the higher Sharpe Ratio (1.05 vs 0.98), 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.