TRBF vs. CPLS

Last updated Jul 12, 2026

TRBF (Angel Oak Total Return ETF) and CPLS (AB Core Plus Bond ETF) are both Intermediate Core-Plus Bond funds. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. TRBF charges 0.44%/yr vs 0.33%/yr for CPLS.

Performance

TRBF vs. CPLS - Performance Comparison

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

Returns By Period

In the year-to-date period, TRBF achieves a 0.72% return, which is significantly higher than CPLS's 0.14% return.

TRBF

• 1D: -0.06%
• 1M: -0.18%
• 6M: 0.70%
• YTD: 0.72%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPLS

• 1D: -0.09%
• 1M: -0.55%
• 6M: -0.14%
• YTD: 0.14%
• 1Y: 3.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRBF vs. CPLS - Yearly Performance Comparison

	2026 (YTD)	2025
TRBF Angel Oak Total Return ETF	0.72%	0.94%
CPLS AB Core Plus Bond ETF	0.14%	0.56%

Correlation

The correlation between TRBF and CPLS is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 7, 2025	0.77

Return for Risk

TRBF vs. CPLS — Risk / Return Rank

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

TRBF

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

CPLS

CPLS Risk / Return Rank: 30
CPLS Sharpe Ratio Rank: 29
CPLS Sortino Ratio Rank: 28
CPLS Omega Ratio Rank: 26
CPLS Calmar Ratio Rank: 33
CPLS Martin Ratio Rank: 33

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.

TRBF vs. CPLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Angel Oak Total Return ETF (TRBF) and AB Core Plus Bond ETF (CPLS). 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.

	TRBF	CPLS	Difference
Sharpe ratio: Return per unit of total volatility	—	0.86	—
Sortino ratio: Return per unit of downside risk	—	1.29	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	1.33	—
Martin ratio: Return relative to average drawdown	—	3.91	—

Drawdowns

TRBF vs. CPLS - Drawdown Comparison

The maximum TRBF drawdown since its inception was -2.59%, smaller than the maximum CPLS drawdown of -4.43%. Use the drawdown chart below to compare losses from any high point for TRBF and CPLS.

Drawdown Indicators

	TRBF	CPLS	Difference
Max Drawdown Largest peak-to-trough decline	-2.59%	-4.43%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.47%	—
Current Drawdown Current decline from peak	-1.29%	-1.42%	+0.13%
Average Drawdown Average peak-to-trough decline	-0.83%	-1.23%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	TRBF	CPLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	3.83%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.75%	4.82%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.75%	4.82%	-1.07%

TRBF vs. CPLS - Expense Ratio Comparison

TRBF has a 0.44% expense ratio, which is higher than CPLS's 0.33% expense ratio.

Dividends

TRBF vs. CPLS - Dividend Comparison

TRBF's dividend yield for the trailing twelve months is around 3.59%, less than CPLS's 4.63% yield.

Position	TTM	2025	2024	2023
CPLS AB Core Plus Bond ETF	4.63%	4.66%	4.71%	0.23%
TRBF Angel Oak Total Return ETF	3.59%	1.16%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRBF and CPLS in my portfolio?

TRBF and CPLS have a correlation of 0.77, 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 CPLS?

On fees, CPLS is cheaper at 0.33% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRBF or CPLS?

CPLS is cheaper with a 0.33% expense ratio, compared with 0.44% for TRBF.

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

CPLS has the higher dividend yield at 4.63%, compared with 3.59% for TRBF.

What is the main difference between TRBF and CPLS?

They also come from different issuers: Angel Oak and AllianceBernstein. Their fees differ too: 0.44% for TRBF and 0.33% for CPLS.