NCPB vs. BND

Last updated Aug 2, 2026

NCPB (Nuveen Core Plus Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - NCPB is a Intermediate Core-Plus Bond fund actively managed by Nuveen, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. NCPB is actively managed, while BND is passively managed. Over the past year, NCPB returned 3.10% vs 1.75% for BND. Their 0.96 correlation means they have historically moved very closely together. NCPB charges 0.30%/yr vs 0.03%/yr for BND.

Performance

NCPB vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Core Plus Bond ETF (NCPB) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NCPB achieves a -0.20% return, which is significantly higher than BND's -0.54% return.

NCPB

• 1D: -0.22%
• 1M: -1.18%
• 6M: -0.60%
• YTD: -0.20%
• 1Y: 3.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.55%

BND

• 1D: -0.26%
• 1M: -1.20%
• 6M: -0.75%
• YTD: -0.54%
• 1Y: 1.75%
• 3Y*: 3.92%
• 5Y*: -0.42%
• 10Y*: 1.36%
• ALL TIME*: 2.99%

*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)
BND Vanguard Total Bond Market ETF	$451.00M	$507.49M	$592.68M
NCPB Nuveen Core Plus Bond ETF	$196.93K	$120.32K	$161.77K

NCPB vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NCPB Nuveen Core Plus Bond ETF	-0.20%	7.69%	3.53%
BND Vanguard Total Bond Market ETF	-0.54%	7.08%	2.21%

Correlation

The correlation between NCPB and BND is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.96

The correlation between NCPB and BND has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

NCPB vs. BND — Risk / Return Rank

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

NCPB

NCPB Risk / Return Rank: 40
NCPB Sharpe Ratio Rank: 42
NCPB Sortino Ratio Rank: 42
NCPB Omega Ratio Rank: 40
NCPB Calmar Ratio Rank: 37
NCPB Martin Ratio Rank: 36

BND

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

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.

NCPB vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Core Plus Bond ETF (NCPB) and Vanguard Total Bond Market ETF (BND). 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.

	NCPB	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.08	0.72	+0.37
Sortino ratio: Return per unit of downside risk	1.57	1.06	+0.52
Omega ratio: Gain probability vs. loss probability	1.19	1.12	+0.07
Calmar ratio: Return relative to maximum drawdown	1.32	0.99	+0.33
Martin ratio: Return relative to average drawdown	3.66	2.48	+1.19

NCPB vs. BND - Sharpe Ratio Comparison

The current NCPB Sharpe Ratio is 1.08, which is higher than the BND Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of NCPB and BND, 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

NCPB vs. BND - Drawdown Comparison

The maximum NCPB drawdown since its inception was -3.59%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for NCPB and BND.

Drawdown Indicators

	NCPB	BND	Difference
Max Drawdown Largest peak-to-trough decline	-3.59%	-18.58%	+14.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-2.68%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-2.02%	-3.15%	+1.13%
Average Drawdown Average peak-to-trough decline	-0.95%	-3.06%	+2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	1.07%	-0.04%

Volatility

NCPB vs. BND - Volatility Comparison

The current volatility for Nuveen Core Plus Bond ETF (NCPB) is 0.93%, while Vanguard Total Bond Market ETF (BND) has a volatility of 0.98%. This indicates that NCPB experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NCPB	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	0.98%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	2.83%	2.90%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	3.70%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	6.03%	-1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	5.53%	-1.24%

NCPB vs. BND - Expense Ratio Comparison

NCPB has a 0.30% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

NCPB vs. BND - Dividend Comparison

NCPB's dividend yield for the trailing twelve months is around 5.34%, more than BND's 4.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.69%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
NCPB Nuveen Core Plus Bond ETF	4.88%	5.21%	5.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NCPB and BND in my portfolio?

With a correlation of 0.96, NCPB and BND 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 is riskier, NCPB or BND?

BND has higher volatility (0.98%) compared to NCPB (0.93%). In terms of maximum drawdown, NCPB dropped -3.59% vs BND's -18.58%.

Which ETF is better, NCPB or BND?

On 1-year performance, NCPB leads with 3.10% vs 1.75% for BND. On fees, BND is cheaper at 0.03% 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, NCPB or BND?

Over the 1-year period, NCPB has performed better with a 3.10% return vs 1.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NCPB or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.30% for NCPB.

Which ETF pays a higher dividend yield, NCPB or BND?

NCPB has the higher dividend yield at 4.88%, compared with 3.69% for BND.

What is the main difference between NCPB and BND?

NCPB is categorized as Intermediate Core-Plus Bond, while BND is Total Bond Market. They also come from different issuers: Nuveen and Vanguard. Their fees differ too: 0.30% for NCPB and 0.03% for BND.

Which has better risk-adjusted returns?

NCPB currently has the higher Sharpe Ratio (1.08 vs 0.72), 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.