TCPB vs. DBND

Last updated Aug 2, 2026

TCPB (Thrivent Core Plus Bond ETF) and DBND (DoubleLine Opportunistic Bond ETF) are both Intermediate Core-Plus Bond funds. TCPB is actively managed, while DBND is passively managed. Over the past year, TCPB returned 2.62% vs 1.72% for DBND. Their correlation of 0.90 means they have usually moved in the same direction. TCPB charges 0.39%/yr vs 0.50%/yr for DBND.

Performance

TCPB vs. DBND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Core Plus Bond ETF (TCPB) and DoubleLine Opportunistic Bond ETF (DBND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCPB achieves a -0.33% return, which is significantly higher than DBND's -0.89% return.

TCPB

• 1D: -0.22%
• 1M: -1.18%
• 6M: -0.64%
• YTD: -0.33%
• 1Y: 2.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.17%

DBND

• 1D: -0.31%
• 1M: -1.01%
• 6M: -1.26%
• YTD: -0.89%
• 1Y: 1.72%
• 3Y*: 4.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.17%

*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)
DBND DoubleLine Opportunistic Bond ETF	$3.03M	$2.95M	$3.32M
TCPB Thrivent Core Plus Bond ETF	$1.03M	$1.25M	$1.56M

TCPB vs. DBND - Yearly Performance Comparison

	2026 (YTD)	2025
TCPB Thrivent Core Plus Bond ETF	-0.33%	6.42%
DBND DoubleLine Opportunistic Bond ETF	-0.89%	6.38%

Correlation

The correlation between TCPB and DBND is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.90

The correlation between TCPB and DBND has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

Return for Risk

TCPB vs. DBND — Risk / Return Rank

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

TCPB

TCPB Risk / Return Rank: 34
TCPB Sharpe Ratio Rank: 35
TCPB Sortino Ratio Rank: 34
TCPB Omega Ratio Rank: 32
TCPB Calmar Ratio Rank: 36
TCPB Martin Ratio Rank: 34

DBND

DBND Risk / Return Rank: 29
DBND Sharpe Ratio Rank: 32
DBND Sortino Ratio Rank: 30
DBND Omega Ratio Rank: 28
DBND Calmar Ratio Rank: 28
DBND Martin Ratio Rank: 27

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.

TCPB vs. DBND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Core Plus Bond ETF (TCPB) and DoubleLine Opportunistic Bond ETF (DBND). 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.

	TCPB	DBND	Difference
Sharpe ratio: Return per unit of total volatility	0.86	0.79	+0.07
Sortino ratio: Return per unit of downside risk	1.29	1.15	+0.13
Omega ratio: Gain probability vs. loss probability	1.15	1.14	+0.02
Calmar ratio: Return relative to maximum drawdown	1.25	0.90	+0.34
Martin ratio: Return relative to average drawdown	3.29	2.14	+1.15

TCPB vs. DBND - Sharpe Ratio Comparison

The current TCPB Sharpe Ratio is 0.86, which is comparable to the DBND Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of TCPB and DBND, 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

TCPB vs. DBND - Drawdown Comparison

The maximum TCPB drawdown since its inception was -2.74%, smaller than the maximum DBND drawdown of -9.39%. Use the drawdown chart below to compare losses from any high point for TCPB and DBND.

Drawdown Indicators

	TCPB	DBND	Difference
Max Drawdown Largest peak-to-trough decline	-2.74%	-9.39%	+6.65%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-2.83%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.03%	—
Current Drawdown Current decline from peak	-2.08%	-2.46%	+0.38%
Average Drawdown Average peak-to-trough decline	-0.84%	-2.25%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	1.19%	-0.16%

Volatility

TCPB vs. DBND - Volatility Comparison

Thrivent Core Plus Bond ETF (TCPB) and DoubleLine Opportunistic Bond ETF (DBND) have volatilities of 0.92% and 0.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCPB	DBND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	0.90%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.59%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	3.24%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.37%	5.04%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.37%	5.04%	-0.67%

TCPB vs. DBND - Expense Ratio Comparison

TCPB has a 0.39% expense ratio, which is lower than DBND's 0.50% expense ratio.

Dividends

TCPB vs. DBND - Dividend Comparison

TCPB's dividend yield for the trailing twelve months is around 4.85%, which matches DBND's 4.83% yield.

Position	TTM	2025	2024	2023	2022
DBND DoubleLine Opportunistic Bond ETF	4.41%	4.78%	5.19%	4.39%	2.74%
TCPB Thrivent Core Plus Bond ETF	4.85%	3.85%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCPB and DBND in my portfolio?

With a correlation of 0.90, TCPB and DBND 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, TCPB or DBND?

TCPB has higher volatility (0.92%) compared to DBND (0.90%). In terms of maximum drawdown, TCPB dropped -2.74% vs DBND's -9.39%.

Which ETF is better, TCPB or DBND?

On 1-year performance, TCPB leads with 2.62% vs 1.72% for DBND. On fees, TCPB is cheaper at 0.39% 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, TCPB or DBND?

Over the 1-year period, TCPB has performed better with a 2.62% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCPB or DBND?

TCPB is cheaper with a 0.39% expense ratio, compared with 0.50% for DBND.

Which ETF pays a higher dividend yield, TCPB or DBND?

TCPB has the higher dividend yield at 4.85%, compared with 4.41% for DBND.

What is the main difference between TCPB and DBND?

They also come from different issuers: Thrivent and DoubleLine. Their fees differ too: 0.39% for TCPB and 0.50% for DBND.

Which has better risk-adjusted returns?

TCPB currently has the higher Sharpe Ratio (0.86 vs 0.79), 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.