KORP vs. CPTNX

Last updated Aug 2, 2026

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 1.29%/yr vs -1.03%/yr for CPTNX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. KORP charges 0.29%/yr vs 0.47%/yr for CPTNX.

Performance

KORP vs. CPTNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Diversified Corporate Bond ETF (KORP) and American Century Government Bond Fund (CPTNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KORP achieves a -0.47% return, which is significantly higher than CPTNX's -0.86% return.

KORP

• 1D: -0.13%
• 1M: -1.73%
• 6M: -0.90%
• YTD: -0.47%
• 1Y: 2.17%
• 3Y*: 5.42%
• 5Y*: 1.29%
• 10Y*: —
• ALL TIME*: 2.63%

CPTNX

• 1D: 0.00%
• 1M: -1.07%
• 6M: -1.08%
• YTD: -0.86%
• 1Y: 1.81%
• 3Y*: 3.15%
• 5Y*: -1.03%
• 10Y*: 0.66%
• ALL TIME*: 5.13%

*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)
CPTNX American Century Government Bond Fund	$0.00	$0.00	$0.00
KORP American Century Diversified Corporate Bond ETF	$4.70M	$4.70M	$4.63M

KORP vs. CPTNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
KORP American Century Diversified Corporate Bond ETF	-0.47%	8.14%	3.82%	7.40%	-10.04%	-0.55%	6.99%	10.08%	-1.32%
CPTNX American Century Government Bond Fund	-0.86%	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, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
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 0.87 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

KORP vs. CPTNX — Risk / Return Rank

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

KORP

KORP Risk / Return Rank: 28
KORP Sharpe Ratio Rank: 29
KORP Sortino Ratio Rank: 27
KORP Omega Ratio Rank: 26
KORP Calmar Ratio Rank: 28
KORP Martin Ratio Rank: 30

CPTNX

CPTNX Risk / Return Rank: 19
CPTNX Sharpe Ratio Rank: 21
CPTNX Sortino Ratio Rank: 20
CPTNX Omega Ratio Rank: 19
CPTNX Calmar Ratio Rank: 18
CPTNX Martin Ratio Rank: 16

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.

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 ratio: Return per unit of total volatility	0.69	0.77	-0.08
Sortino ratio: Return per unit of downside risk	1.01	1.15	-0.14
Omega ratio: Gain probability vs. loss probability	1.12	1.14	-0.02
Calmar ratio: Return relative to maximum drawdown	0.92	0.91	+0.01
Martin ratio: Return relative to average drawdown	2.74	2.28	+0.45

KORP vs. CPTNX - Sharpe Ratio Comparison

The current KORP Sharpe Ratio is 0.69, which is comparable to the CPTNX Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of KORP and CPTNX, 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

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.

Drawdown Indicators

	KORP	CPTNX	Difference
Max Drawdown Largest 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%	-6.06%	+1.02%
Max Drawdown (5Y) Largest decline over 5 years	-14.82%	-19.15%	+4.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.73%	—
Current Drawdown Current decline from peak	-2.21%	-5.92%	+3.71%
Average Drawdown Average peak-to-trough decline	-3.21%	-2.30%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.33%	-0.25%

Volatility

KORP vs. CPTNX - Volatility Comparison

American Century Diversified Corporate Bond ETF (KORP) has a higher volatility of 1.10% compared to American Century Government Bond Fund (CPTNX) at 0.97%. This indicates that KORP's price experiences larger fluctuations and is considered to be riskier than CPTNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KORP	CPTNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	0.97%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	3.43%	3.12%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	4.28%	3.96%	+0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.39%	6.31%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.90%	4.99%	-0.09%

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 5.20%, more than CPTNX's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPTNX American Century Government Bond Fund	3.70%	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	4.74%	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

Can I hold both KORP and CPTNX in my portfolio?

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.

Which is riskier, KORP or CPTNX?

KORP has higher volatility (1.10%) compared to CPTNX (0.97%). In terms of maximum drawdown, KORP dropped -14.90% vs CPTNX's -19.73%.

Which has better risk-adjusted returns?

CPTNX currently has the higher Sharpe Ratio (0.77 vs 0.69), 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.