TOPC vs. BDGS

Last updated Jun 30, 2026

TOPC (iShares S&P 500 3% Capped ETF) and BDGS (Bridges Capital Tactical ETF) are both Large Cap Blend Equities funds. TOPC is passively managed, while BDGS is actively managed. Over the past year, TOPC returned 22.63% vs 10.91% for BDGS. A 0.76 correlation means they provide meaningful diversification when combined. TOPC charges 0.09%/yr vs 0.87%/yr for BDGS.

Performance

TOPC vs. BDGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 3% Capped ETF (TOPC) and Bridges Capital Tactical ETF (BDGS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOPC achieves a 11.31% return, which is significantly higher than BDGS's 4.51% return.

TOPC

• 1D: 1.05%
• 1M: 0.07%
• YTD: 11.31%
• 6M: 10.23%
• 1Y: 22.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BDGS

• 1D: 0.53%
• 1M: -1.88%
• YTD: 4.51%
• 6M: 4.34%
• 1Y: 10.91%
• 3Y*: 13.50%
• 5Y*: —
• 10Y*: —

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

TOPC vs. BDGS - Yearly Performance Comparison

	2026 (YTD)	2025
TOPC iShares S&P 500 3% Capped ETF	11.31%	25.80%
BDGS Bridges Capital Tactical ETF	4.51%	12.03%

Correlation

The correlation between TOPC and BDGS is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.76

The correlation between TOPC and BDGS has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

Return for Risk

TOPC vs. BDGS — Risk / Return Rank

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

TOPC

TOPC Risk / Return Rank: 70
TOPC Sharpe Ratio Rank: 69
TOPC Sortino Ratio Rank: 67
TOPC Omega Ratio Rank: 68
TOPC Calmar Ratio Rank: 67
TOPC Martin Ratio Rank: 78

BDGS

BDGS Risk / Return Rank: 66
BDGS Sharpe Ratio Rank: 60
BDGS Sortino Ratio Rank: 65
BDGS Omega Ratio Rank: 67
BDGS Calmar Ratio Rank: 64
BDGS Martin Ratio Rank: 72

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.

TOPC vs. BDGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 3% Capped ETF (TOPC) and Bridges Capital Tactical ETF (BDGS). 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.

	TOPC	BDGS	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.72	+0.19
Sortino ratio: Return per unit of downside risk	2.61	2.56	+0.04
Omega ratio: Gain probability vs. loss probability	1.34	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	2.83	2.72	+0.11
Martin ratio: Return relative to average drawdown	12.77	11.31	+1.47

TOPC vs. BDGS - Sharpe Ratio Comparison

The current TOPC Sharpe Ratio is 1.91, which is comparable to the BDGS Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of TOPC and BDGS, 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

TOPC vs. BDGS - Drawdown Comparison

The maximum TOPC drawdown since its inception was -8.04%, smaller than the maximum BDGS drawdown of -9.12%. Use the drawdown chart below to compare losses from any high point for TOPC and BDGS.

Drawdown Indicators

	TOPC	BDGS	Difference
Max Drawdown Largest peak-to-trough decline	-8.04%	-9.12%	+1.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-4.03%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.12%	—
Current Drawdown Current decline from peak	-0.63%	-1.88%	+1.25%
Average Drawdown Average peak-to-trough decline	-0.96%	-0.67%	-0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	0.97%	+0.81%

Volatility

TOPC vs. BDGS - Volatility Comparison

iShares S&P 500 3% Capped ETF (TOPC) has a higher volatility of 4.78% compared to Bridges Capital Tactical ETF (BDGS) at 2.42%. This indicates that TOPC's price experiences larger fluctuations and is considered to be riskier than BDGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOPC	BDGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	2.42%	+2.36%
Volatility (6M) Calculated over the trailing 6-month period	9.52%	5.25%	+4.27%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	6.39%	+5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.54%	8.22%	+4.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.54%	8.22%	+4.32%

TOPC vs. BDGS - Expense Ratio Comparison

TOPC has a 0.09% expense ratio, which is lower than BDGS's 0.87% expense ratio.

Dividends

TOPC vs. BDGS - Dividend Comparison

TOPC's dividend yield for the trailing twelve months is around 1.04%, more than BDGS's 0.53% yield.

Position	TTM	2025	2024	2023
BDGS Bridges Capital Tactical ETF	0.53%	0.55%	1.81%	0.84%
TOPC iShares S&P 500 3% Capped ETF	1.04%	0.80%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOPC and BDGS in my portfolio?

TOPC and BDGS have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOPC or BDGS?

TOPC has higher volatility (4.78%) compared to BDGS (2.42%). In terms of maximum drawdown, TOPC dropped -8.04% vs BDGS's -9.12%.

Which ETF is better, TOPC or BDGS?

On 1-year performance, TOPC leads with 22.63% vs 10.91% for BDGS. On fees, TOPC is cheaper at 0.09% per year. On volatility, BDGS has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOPC or BDGS?

Over the 1-year period, TOPC has performed better with a 22.63% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOPC or BDGS?

TOPC is cheaper with a 0.09% expense ratio, compared with 0.87% for BDGS.

Which ETF pays a higher dividend yield, TOPC or BDGS?

TOPC has the higher dividend yield at 1.04%, compared with 0.53% for BDGS.

What is the main difference between TOPC and BDGS?

They also come from different issuers: iShares and Bridges. Their fees differ too: 0.09% for TOPC and 0.87% for BDGS.

Which has better risk-adjusted returns?

TOPC currently has the higher Sharpe Ratio (1.91 vs 1.72), 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.