SMTH vs. BNDP

Last updated Jun 4, 2026

SMTH (ALPS Smith Core Plus Bond ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. SMTH is actively managed, while BNDP is passively managed. With a 0.97 correlation, they move nearly in lockstep. SMTH charges 0.59%/yr vs 0.05%/yr for BNDP.

Performance

SMTH vs. BNDP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Smith Core Plus Bond ETF (SMTH) and Vanguard Core-Plus Bond Index ETF (BNDP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SMTH at 0.34% and BNDP at 0.34%.

SMTH

• 1D: -0.21%
• 1M: 0.44%
• YTD: 0.34%
• 6M: 0.02%
• 1Y: 5.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDP

• 1D: -0.08%
• 1M: 0.41%
• YTD: 0.34%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMTH vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
SMTH ALPS Smith Core Plus Bond ETF	0.34%	-0.11%
BNDP Vanguard Core-Plus Bond Index ETF	0.34%	0.10%

Correlation

The correlation between SMTH and BNDP is 0.97 - 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 5, 2025	0.97

Return for Risk

SMTH vs. BNDP — Risk / Return Rank

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

SMTH

SMTH Risk / Return Rank: 38
SMTH Sharpe Ratio Rank: 38
SMTH Sortino Ratio Rank: 40
SMTH Omega Ratio Rank: 35
SMTH Calmar Ratio Rank: 39
SMTH Martin Ratio Rank: 37

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.

SMTH vs. BNDP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Smith Core Plus Bond ETF (SMTH) 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.

	SMTH	BNDP	Difference
Sharpe ratio: Return per unit of total volatility	1.34	—	—
Sortino ratio: Return per unit of downside risk	2.05	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.90	—	—
Martin ratio: Return relative to average drawdown	5.72	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SMTH	BNDP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.25	+0.94

Drawdowns

SMTH vs. BNDP - Drawdown Comparison

The maximum SMTH drawdown since its inception was -4.11%, which is greater than BNDP's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for SMTH and BNDP.

Drawdown Indicators

	SMTH	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-4.11%	-2.60%	-1.51%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	—	—
Current Drawdown Current decline from peak	-1.41%	-1.31%	-0.10%
Average Drawdown Average peak-to-trough decline	-1.06%	-0.86%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	—	—

Volatility

Volatility by Period

	SMTH	BNDP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.88%	3.63%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.59%	3.63%	+0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.59%	3.63%	+0.96%

SMTH vs. BNDP - Expense Ratio Comparison

SMTH has a 0.59% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

SMTH vs. BNDP - Dividend Comparison

SMTH's dividend yield for the trailing twelve months is around 4.40%, more than BNDP's 2.08% yield.

Position	TTM	2025	2024	2023
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%	0.00%	0.00%
SMTH ALPS Smith Core Plus Bond ETF	4.40%	4.46%	4.58%	0.24%

Frequently Asked Questions

Can I hold both SMTH and BNDP in my portfolio?

With a correlation of 0.97, SMTH 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, SMTH 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, SMTH or BNDP?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.59% for SMTH.

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

SMTH has the higher dividend yield at 4.40%, compared with 2.08% for BNDP.

What is the main difference between SMTH and BNDP?

They also come from different issuers: ALPS and Vanguard. Their fees differ too: 0.59% for SMTH and 0.05% for BNDP.