KORP vs. CPTNX
KORP (American Century Diversified Corporate Bond ETF) and CPTNX (American Century Government Bond Fund) are both funds - KORP is a Corporate Bonds fund actively managed by American Century, while CPTNX is a Government Bonds fund managed by American Century. Over the past 5 years, KORP returned 1.79%/yr vs -0.65%/yr for CPTNX. A 0.77 correlation means they provide meaningful diversification when combined. KORP charges 0.29%/yr vs 0.47%/yr for CPTNX.
Performance
KORP vs. CPTNX - Performance Comparison
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Returns By Period
KORP
- 1D
- -0.17%
- 1M
- 0.83%
- YTD
- 0.94%
- 6M
- 1.15%
- 1Y
- 5.71%
- 3Y*
- 5.95%
- 5Y*
- 1.79%
- 10Y*
- —
CPTNX
- 1D
- 0.22%
- 1M
- 0.88%
- YTD
- -0.00%
- 6M
- 0.33%
- 1Y
- 4.51%
- 3Y*
- 3.23%
- 5Y*
- -0.65%
- 10Y*
- 0.83%
KORP vs. CPTNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
KORP American Century Diversified Corporate Bond ETF | 0.94% | 8.14% | 3.82% | 7.40% | -10.04% | -0.55% | 6.99% | 10.08% | -1.32% |
CPTNX American Century Government Bond Fund | -0.00% | 7.26% | 0.32% | 3.51% | -13.10% | -1.24% | 6.71% | 6.16% | 1.12% |
Correlation
The correlation between KORP and CPTNX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2018 | 0.77 |
The correlation between KORP and CPTNX shifts across timeframes, from 0.77 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
KORP vs. CPTNX — Risk / Return Rank
KORP
CPTNX
KORP vs. CPTNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Diversified Corporate Bond ETF (KORP) and American Century Government Bond Fund (CPTNX). 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.
| KORP | CPTNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 1.35 | +0.43 |
| Martin ratioReturn relative to average drawdown | 5.77 | 3.96 | +1.81 |
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Drawdowns
KORP vs. CPTNX - Drawdown Comparison
The maximum KORP drawdown since its inception was -14.90%, smaller than the maximum CPTNX drawdown of -19.73%. Use the drawdown chart below to compare losses from any high point for KORP and CPTNX.
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Drawdown Indicators
| KORP | CPTNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.90% | -19.73% | +4.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -3.36% | +0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -5.04% | -7.26% | +2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.90% | -19.15% | +4.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.73% | — |
Current DrawdownCurrent decline from peak | -0.83% | -5.10% | +4.27% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -2.29% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 1.14% | -0.15% |
Volatility
KORP vs. CPTNX - Volatility Comparison
The current volatility for American Century Diversified Corporate Bond ETF (KORP) is 1.14%, while American Century Government Bond Fund (CPTNX) has a volatility of 1.32%. This indicates that KORP experiences smaller price fluctuations and is considered to be less risky than CPTNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KORP | CPTNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.32% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.37% | 3.01% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 4.01% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 6.30% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 4.99% | -0.08% |
KORP vs. CPTNX - Expense Ratio Comparison
KORP has a 0.29% expense ratio, which is lower than CPTNX's 0.47% expense ratio.
Dividends
KORP vs. CPTNX - Dividend Comparison
KORP's dividend yield for the trailing twelve months is around 5.09%, more than CPTNX's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPTNX American Century Government Bond Fund | 4.02% | 4.07% | 4.22% | 3.72% | 1.84% | 2.10% | 2.09% | 2.48% | 2.49% | 2.14% | 2.28% | 1.69% |
KORP American Century Diversified Corporate Bond ETF | 5.09% | 4.98% | 5.08% | 4.42% | 2.89% | 1.86% | 3.22% | 3.20% | 2.97% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KORP and CPTNX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPTNX has higher volatility (1.32%) compared to KORP (1.14%). In terms of maximum drawdown, KORP dropped -14.90% vs CPTNX's -19.73%.
KORP currently has the higher Sharpe Ratio (1.33 vs 1.13), 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.
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