FIXD vs. BNDP

Last updated Jun 4, 2026

FIXD (First Trust Smith Opportunistic Fixed Income ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. FIXD is actively managed, while BNDP is passively managed. With a 0.96 correlation, they move nearly in lockstep. FIXD charges 0.65%/yr vs 0.05%/yr for BNDP.

Performance

FIXD vs. BNDP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Smith Opportunistic Fixed Income ETF (FIXD) and Vanguard Core-Plus Bond Index ETF (BNDP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIXD achieves a 0.16% return, which is significantly lower than BNDP's 0.34% return.

FIXD

• 1D: -0.21%
• 1M: 0.48%
• YTD: 0.16%
• 6M: -0.13%
• 1Y: 5.61%
• 3Y*: 3.87%
• 5Y*: -0.35%
• 10Y*: —

BNDP

• 1D: -0.08%
• 1M: 0.41%
• YTD: 0.34%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FIXD vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
FIXD First Trust Smith Opportunistic Fixed Income ETF	0.16%	-0.10%
BNDP Vanguard Core-Plus Bond Index ETF	0.34%	0.10%

Correlation

The correlation between FIXD and BNDP is 0.96 - 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 5, 2025	0.96

Return for Risk

FIXD vs. BNDP — Risk / Return Rank

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

FIXD

FIXD Risk / Return Rank: 36
FIXD Sharpe Ratio Rank: 37
FIXD Sortino Ratio Rank: 38
FIXD Omega Ratio Rank: 34
FIXD Calmar Ratio Rank: 35
FIXD Martin Ratio Rank: 35

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.

FIXD vs. BNDP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Smith Opportunistic Fixed Income ETF (FIXD) and Vanguard Core-Plus Bond Index ETF (BNDP). 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.

	FIXD	BNDP	Difference
Sharpe ratio: Return per unit of total volatility	1.34	—	—
Sortino ratio: Return per unit of downside risk	1.97	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.76	—	—
Martin ratio: Return relative to average drawdown	5.27	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FIXD	BNDP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.25	+0.11

Drawdowns

FIXD vs. BNDP - Drawdown Comparison

The maximum FIXD drawdown since its inception was -20.44%, which is greater than BNDP's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for FIXD and BNDP.

Drawdown Indicators

	FIXD	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-2.60%	-17.84%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.44%	—	—
Current Drawdown Current decline from peak	-3.55%	-1.31%	-2.24%
Average Drawdown Average peak-to-trough decline	-5.50%	-0.86%	-4.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	—	—

Volatility

Volatility by Period

	FIXD	BNDP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.20%	3.63%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.58%	3.63%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.84%	3.63%	+2.21%

FIXD vs. BNDP - Expense Ratio Comparison

FIXD has a 0.65% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

FIXD vs. BNDP - Dividend Comparison

FIXD's dividend yield for the trailing twelve months is around 4.69%, more than BNDP's 2.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FIXD First Trust Smith Opportunistic Fixed Income ETF	4.69%	4.50%	4.56%	3.93%	3.07%	1.74%	3.14%	5.10%	2.81%	1.95%

Frequently Asked Questions

Can I hold both FIXD and BNDP in my portfolio?

With a correlation of 0.96, FIXD and BNDP 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, FIXD or BNDP?

On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FIXD or BNDP?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.65% for FIXD.

Which ETF pays a higher dividend yield, FIXD or BNDP?

FIXD has the higher dividend yield at 4.69%, compared with 2.08% for BNDP.

What is the main difference between FIXD and BNDP?

They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.65% for FIXD and 0.05% for BNDP.