NBTR vs. BNDP

Last updated Jun 23, 2026

NBTR (Neuberger Total Return Bond ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. NBTR is actively managed, while BNDP is passively managed. With a 0.96 correlation, they move nearly in lockstep. NBTR charges 0.37%/yr vs 0.05%/yr for BNDP.

Performance

NBTR vs. BNDP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Total Return Bond ETF (NBTR) 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, NBTR achieves a 0.62% return, which is significantly higher than BNDP's 0.42% return.

NBTR

• 1D: -0.17%
• 1M: 0.65%
• YTD: 0.62%
• 6M: 0.76%
• 1Y: 5.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDP

• 1D: -0.25%
• 1M: 0.73%
• YTD: 0.42%
• 6M: 0.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NBTR vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
NBTR Neuberger Total Return Bond ETF	0.62%	0.11%
BNDP Vanguard Core-Plus Bond Index ETF	0.42%	0.08%

Correlation

The correlation between NBTR 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 4, 2025	0.96

Return for Risk

NBTR vs. BNDP — Risk / Return Rank

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

NBTR

NBTR Risk / Return Rank: 45
NBTR Sharpe Ratio Rank: 46
NBTR Sortino Ratio Rank: 48
NBTR Omega Ratio Rank: 44
NBTR Calmar Ratio Rank: 45
NBTR Martin Ratio Rank: 42

BNDP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

NBTR vs. BNDP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Total Return Bond ETF (NBTR) 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.

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.

	NBTR	BNDP	Difference
Sharpe ratio: Return per unit of total volatility	1.56	—	—
Sortino ratio: Return per unit of downside risk	2.31	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.15	—	—
Martin ratio: Return relative to average drawdown	6.45	—	—

Drawdowns

NBTR vs. BNDP - Drawdown Comparison

The maximum NBTR drawdown since its inception was -2.58%, roughly equal to the maximum BNDP drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for NBTR and BNDP.

Drawdown Indicators

	NBTR	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-2.58%	-2.60%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	—	—
Current Drawdown Current decline from peak	-1.02%	-1.23%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.64%	-0.89%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	—	—

Volatility

Volatility by Period

	NBTR	BNDP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	3.71%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.10%	3.71%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.10%	3.71%	+0.39%

NBTR vs. BNDP - Expense Ratio Comparison

NBTR has a 0.37% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

NBTR vs. BNDP - Dividend Comparison

NBTR's dividend yield for the trailing twelve months is around 5.57%, more than BNDP's 2.08% yield.

Position	TTM	2025
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%
NBTR Neuberger Total Return Bond ETF	5.57%	5.76%

Frequently Asked Questions

Can I hold both NBTR and BNDP in my portfolio?

With a correlation of 0.96, NBTR 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, NBTR 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, NBTR or BNDP?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.37% for NBTR.

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

NBTR has the higher dividend yield at 5.57%, compared with 2.08% for BNDP.

What is the main difference between NBTR and BNDP?

They also come from different issuers: Neuberger and Vanguard. Their fees differ too: 0.37% for NBTR and 0.05% for BNDP.