TRBF vs. BNDP

Last updated Jun 5, 2026

TRBF (Angel Oak Total Return ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. TRBF is actively managed, while BNDP is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. TRBF charges 0.44%/yr vs 0.05%/yr for BNDP.

Performance

TRBF vs. BNDP - Performance Comparison

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

Returns By Period

In the year-to-date period, TRBF achieves a 0.52% return, which is significantly lower than BNDP's 0.59% return.

TRBF

• 1D: 0.13%
• 1M: 0.08%
• YTD: 0.52%
• 6M: 0.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDP

• 1D: 0.26%
• 1M: 0.51%
• YTD: 0.59%
• 6M: 0.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRBF vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
TRBF Angel Oak Total Return ETF	0.52%	0.13%
BNDP Vanguard Core-Plus Bond Index ETF	0.59%	0.10%

Correlation

The correlation between TRBF and BNDP is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.87

Return for Risk

TRBF vs. BNDP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Total Return ETF (TRBF) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TRBF	BNDP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.39	+0.22

Drawdowns

TRBF vs. BNDP - Drawdown Comparison

The maximum TRBF drawdown since its inception was -2.59%, roughly equal to the maximum BNDP drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for TRBF and BNDP.

Drawdown Indicators

	TRBF	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-2.60%	+0.01%
Current Drawdown Current decline from peak	-1.48%	-1.05%	-0.43%
Average Drawdown Average peak-to-trough decline	-0.80%	-0.86%	+0.06%

Volatility

Volatility by Period

	TRBF	BNDP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	3.64%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.76%	3.64%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.76%	3.64%	+0.12%

TRBF vs. BNDP - Expense Ratio Comparison

TRBF has a 0.44% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

TRBF vs. BNDP - Dividend Comparison

TRBF's dividend yield for the trailing twelve months is around 3.14%, more than BNDP's 2.07% yield.

Position	TTM	2025
BNDP Vanguard Core-Plus Bond Index ETF	2.07%	0.24%
TRBF Angel Oak Total Return ETF	3.14%	1.16%

Frequently Asked Questions

Can I hold both TRBF and BNDP in my portfolio?

TRBF and BNDP have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TRBF 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, TRBF or BNDP?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.44% for TRBF.

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

TRBF has the higher dividend yield at 3.14%, compared with 2.07% for BNDP.

What is the main difference between TRBF and BNDP?

They also come from different issuers: Angel Oak and Vanguard. Their fees differ too: 0.44% for TRBF and 0.05% for BNDP.