SMTH vs. BNDS

Last updated Apr 1, 2026

Compare and contrast key facts about ALPS Smith Core Plus Bond ETF (SMTH) and Infrastructure Capital Bond Income ETF (BNDS).

SMTH and BNDS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SMTH is an actively managed fund by ALPS. It was launched on Dec 5, 2023. BNDS is an actively managed fund by InfraCap. It was launched on Jan 15, 2025.

Performance

SMTH vs. BNDS - Performance Comparison

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

SMTH vs. BNDS - Yearly Performance Comparison

	2026 (YTD)	2025
SMTH ALPS Smith Core Plus Bond ETF	-0.18%	7.15%
BNDS Infrastructure Capital Bond Income ETF	0.75%	8.30%

Returns By Period

In the year-to-date period, SMTH achieves a -0.18% return, which is significantly lower than BNDS's 0.75% return.

SMTH

• 1D: 0.29%
• 1M: -1.92%
• YTD: -0.18%
• 6M: 0.56%
• 1Y: 3.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDS

• 1D: 0.50%
• 1M: -2.04%
• YTD: 0.75%
• 6M: 1.75%
• 1Y: 9.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMTH vs. BNDS - Expense Ratio Comparison

SMTH has a 0.59% expense ratio, which is lower than BNDS's 0.81% expense ratio.

BNDS

Infrastructure Capital Bond Income ETF

SMTH

ALPS Smith Core Plus Bond ETF

Return for Risk

SMTH vs. BNDS — Risk / Return Rank

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

SMTH

SMTH Risk / Return Rank: 50
SMTH Sharpe Ratio Rank: 51
SMTH Sortino Ratio Rank: 50
SMTH Omega Ratio Rank: 40
SMTH Calmar Ratio Rank: 60
SMTH Martin Ratio Rank: 48

BNDS

BNDS Risk / Return Rank: 77
BNDS Sharpe Ratio Rank: 82
BNDS Sortino Ratio Rank: 81
BNDS Omega Ratio Rank: 89
BNDS Calmar Ratio Rank: 64
BNDS Martin Ratio Rank: 69

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. BNDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Smith Core Plus Bond ETF (SMTH) and Infrastructure Capital Bond Income ETF (BNDS). 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	BNDS	Difference
Sharpe ratio Return per unit of total volatility	0.93	1.61	-0.69
Sortino ratio Return per unit of downside risk	1.34	2.15	-0.81
Omega ratio Gain probability vs. loss probability	1.16	1.38	-0.22
Calmar ratio Return relative to maximum drawdown	1.56	1.69	-0.13
Martin ratio Return relative to average drawdown	4.70	7.27	-2.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMTH vs. BNDS - Sharpe Ratio Comparison

The current SMTH Sharpe Ratio is 0.93, which is lower than the BNDS Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of SMTH and BNDS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SMTH	BNDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	1.61	-0.69
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	1.38	-0.16

Correlation

The correlation between SMTH and BNDS is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SMTH vs. BNDS - Dividend Comparison

SMTH's dividend yield for the trailing twelve months is around 4.42%, less than BNDS's 8.11% yield.

	TTM	2025	2024	2023
SMTH ALPS Smith Core Plus Bond ETF	4.42%	4.46%	4.58%	0.24%
BNDS Infrastructure Capital Bond Income ETF	8.11%	7.98%	0.00%	0.00%

Drawdowns

SMTH vs. BNDS - Drawdown Comparison

The maximum SMTH drawdown since its inception was -4.11%, smaller than the maximum BNDS drawdown of -6.96%. Use the drawdown chart below to compare losses from any high point for SMTH and BNDS.

Drawdown Indicators

	SMTH	BNDS	Difference
Max Drawdown Largest peak-to-trough decline	-4.11%	-6.96%	+2.85%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-5.44%	+2.70%
Current Drawdown Current decline from peak	-1.92%	-2.63%	+0.71%
Average Drawdown Average peak-to-trough decline	-1.02%	-0.88%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	1.26%	-0.35%

Volatility

SMTH vs. BNDS - Volatility Comparison

The current volatility for ALPS Smith Core Plus Bond ETF (SMTH) is 1.59%, while Infrastructure Capital Bond Income ETF (BNDS) has a volatility of 1.86%. This indicates that SMTH experiences smaller price fluctuations and is considered to be less risky than BNDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMTH	BNDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	1.86%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	2.49%	2.73%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	4.31%	5.82%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.64%	5.48%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	5.48%	-0.84%