TCPB vs. EUSB

Last updated Jun 5, 2026

TCPB (Thrivent Core Plus Bond ETF) and EUSB (iShares ESG Advanced Total USD Bond Market ETF) are both Intermediate Core-Plus Bond funds. TCPB is actively managed, while EUSB is passively managed. Over the past year, TCPB returned 5.55% vs 4.65% for EUSB. Their correlation of 0.91 suggests significant overlap in exposure. TCPB charges 0.39%/yr vs 0.12%/yr for EUSB.

Performance

TCPB vs. EUSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Core Plus Bond ETF (TCPB) and iShares ESG Advanced Total USD Bond Market ETF (EUSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCPB achieves a 0.58% return, which is significantly higher than EUSB's 0.28% return.

TCPB

• 1D: 0.15%
• 1M: 0.36%
• YTD: 0.58%
• 6M: 0.69%
• 1Y: 5.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EUSB

• 1D: 0.15%
• 1M: 0.22%
• YTD: 0.28%
• 6M: 0.50%
• 1Y: 4.65%
• 3Y*: 4.36%
• 5Y*: 0.37%
• 10Y*: —

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

TCPB vs. EUSB - Yearly Performance Comparison

	2026 (YTD)	2025
TCPB Thrivent Core Plus Bond ETF	0.58%	6.30%
EUSB iShares ESG Advanced Total USD Bond Market ETF	0.28%	6.45%

Correlation

The correlation between TCPB and EUSB is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.91

The correlation between TCPB and EUSB has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

TCPB vs. EUSB — Risk / Return Rank

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

TCPB

TCPB Risk / Return Rank: 40
TCPB Sharpe Ratio Rank: 39
TCPB Sortino Ratio Rank: 41
TCPB Omega Ratio Rank: 40
TCPB Calmar Ratio Rank: 43
TCPB Martin Ratio Rank: 40

EUSB

EUSB Risk / Return Rank: 38
EUSB Sharpe Ratio Rank: 38
EUSB Sortino Ratio Rank: 39
EUSB Omega Ratio Rank: 36
EUSB Calmar Ratio Rank: 39
EUSB 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.

TCPB vs. EUSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Core Plus Bond ETF (TCPB) and iShares ESG Advanced Total USD Bond Market ETF (EUSB). 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.

	TCPB	EUSB	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.33	+0.04
Sortino ratio: Return per unit of downside risk	2.04	1.99	+0.06
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.02
Calmar ratio: Return relative to maximum drawdown	2.04	1.89	+0.15
Martin ratio: Return relative to average drawdown	6.12	5.64	+0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCPB vs. EUSB - Sharpe Ratio Comparison

The current TCPB Sharpe Ratio is 1.37, which is comparable to the EUSB Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of TCPB and EUSB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TCPB	EUSB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.33	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	0.05	+1.15

Drawdowns

TCPB vs. EUSB - Drawdown Comparison

The maximum TCPB drawdown since its inception was -2.74%, smaller than the maximum EUSB drawdown of -17.87%. Use the drawdown chart below to compare losses from any high point for TCPB and EUSB.

Drawdown Indicators

	TCPB	EUSB	Difference
Max Drawdown Largest peak-to-trough decline	-2.74%	-17.87%	+15.13%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-2.48%	-0.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.45%	—
Current Drawdown Current decline from peak	-1.19%	-1.22%	+0.03%
Average Drawdown Average peak-to-trough decline	-0.80%	-6.50%	+5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.83%	+0.08%

Volatility

TCPB vs. EUSB - Volatility Comparison

Thrivent Core Plus Bond ETF (TCPB) has a higher volatility of 1.36% compared to iShares ESG Advanced Total USD Bond Market ETF (EUSB) at 1.16%. This indicates that TCPB's price experiences larger fluctuations and is considered to be riskier than EUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCPB	EUSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.16%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.66%	2.50%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.10%	3.56%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.44%	5.77%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.44%	5.41%	-0.97%

TCPB vs. EUSB - Expense Ratio Comparison

TCPB has a 0.39% expense ratio, which is higher than EUSB's 0.12% expense ratio.

Dividends

TCPB vs. EUSB - Dividend Comparison

TCPB's dividend yield for the trailing twelve months is around 4.77%, more than EUSB's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
EUSB iShares ESG Advanced Total USD Bond Market ETF	3.96%	3.84%	3.67%	3.08%	2.21%	1.10%	0.57%
TCPB Thrivent Core Plus Bond ETF	4.77%	3.85%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TCPB and EUSB in my portfolio?

TCPB and EUSB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TCPB or EUSB?

TCPB has higher volatility (1.36%) compared to EUSB (1.16%). In terms of maximum drawdown, TCPB dropped -2.74% vs EUSB's -17.87%.

Which ETF is better, TCPB or EUSB?

On 1-year performance, TCPB leads with 5.55% vs 4.65% for EUSB. On fees, EUSB is cheaper at 0.12% per year. On volatility, EUSB has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TCPB or EUSB?

Over the 1-year period, TCPB has performed better with a 5.55% return vs 4.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TCPB or EUSB?

EUSB is cheaper with a 0.12% expense ratio, compared with 0.39% for TCPB.

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

TCPB has the higher dividend yield at 4.77%, compared with 3.96% for EUSB.

What is the main difference between TCPB and EUSB?

They also come from different issuers: Thrivent and iShares. Their fees differ too: 0.39% for TCPB and 0.12% for EUSB.

Which has better risk-adjusted returns?

TCPB currently has the higher Sharpe Ratio (1.37 vs 1.33), 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.