NCPB vs. BNDP

Last updated Jun 23, 2026

NCPB (Nuveen Core Plus Bond ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. NCPB is actively managed, while BNDP is passively managed. With a 0.96 correlation, they move nearly in lockstep. NCPB charges 0.30%/yr vs 0.05%/yr for BNDP.

Performance

NCPB vs. BNDP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Core Plus Bond ETF (NCPB) 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, NCPB achieves a 0.73% return, which is significantly higher than BNDP's 0.42% return.

NCPB

• 1D: -0.22%
• 1M: 0.79%
• YTD: 0.73%
• 6M: 0.86%
• 1Y: 5.54%
• 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)

NCPB vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
NCPB Nuveen Core Plus Bond ETF	0.73%	0.07%
BNDP Vanguard Core-Plus Bond Index ETF	0.42%	0.08%

Correlation

The correlation between NCPB 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

NCPB vs. BNDP — Risk / Return Rank

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

NCPB

NCPB Risk / Return Rank: 44
NCPB Sharpe Ratio Rank: 47
NCPB Sortino Ratio Rank: 50
NCPB Omega Ratio Rank: 46
NCPB Calmar Ratio Rank: 40
NCPB Martin Ratio Rank: 39

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.

NCPB vs. BNDP - Risk-Adjusted Trends Comparison

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

	NCPB	BNDP	Difference
Sharpe ratio: Return per unit of total volatility	1.59	—	—
Sortino ratio: Return per unit of downside risk	2.36	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.93	—	—
Martin ratio: Return relative to average drawdown	5.88	—	—

Drawdowns

NCPB vs. BNDP - Drawdown Comparison

The maximum NCPB drawdown since its inception was -3.59%, which is greater than BNDP's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for NCPB and BNDP.

Drawdown Indicators

	NCPB	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-3.59%	-2.60%	-0.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	—	—
Current Drawdown Current decline from peak	-1.11%	-1.23%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.93%	-0.89%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	—	—

Volatility

Volatility by Period

	NCPB	BNDP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.71%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	3.71%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.33%	3.71%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.33%	3.71%	+0.62%

NCPB vs. BNDP - Expense Ratio Comparison

NCPB has a 0.30% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

NCPB vs. BNDP - Dividend Comparison

NCPB's dividend yield for the trailing twelve months is around 5.20%, more than BNDP's 2.08% yield.

Position	TTM	2025	2024
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%	0.00%
NCPB Nuveen Core Plus Bond ETF	5.20%	5.21%	5.14%

Frequently Asked Questions

Can I hold both NCPB and BNDP in my portfolio?

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

BNDP is cheaper with a 0.05% expense ratio, compared with 0.30% for NCPB.

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

NCPB has the higher dividend yield at 5.20%, compared with 2.08% for BNDP.

What is the main difference between NCPB and BNDP?

They also come from different issuers: Nuveen and Vanguard. Their fees differ too: 0.30% for NCPB and 0.05% for BNDP.