Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Abacus Flexible Bond Leaders ETF
$18.64−0.01 (−0.08%)
- 0.83%
- $2M
- +0.1%
- 4.83%
- 0M sh
- $18.65
- low $18.60high $20.00
The ETF.net ABXB Grade
D
Score 27 out of 100
- 111 of 117
Score 27 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 27
- This cap took
- −0
- Published Score
- 27
Cost
The fund’s net expense ratio, ranked against its category.F4 out of 100Rank 112 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B69 out of 100Rank 18 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D28 out of 100Rank 97 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D29 out of 100Rank 104 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D36 out of 100Rank 92 of 117
Our read on ABXB
DMost core bond funds buy the whole market and sit still. ABXB is being rebuilt as the opposite: a rules-based trend-following core-plus strategy that moves with the market, with at least 80% of assets in bonds.
The Fund is being repositioned as a tactical intermediate core-plus bond strategy using a trend-following system. Its revised policy requires at least 80% of assets in bonds or instruments with similar economic characteristics.
Why people hold it
- Rules run the show. A trend-following system sets the bond mix, and the revised policy keeps at least 80% of assets in bonds or instruments with similar economic characteristics.
- Not a startup fund. It has been trading since its 2020 launch, so there is a real record to inspect before the repositioning takes hold.
- Intermediate core-plus is the target zone, and cash distributions land on a quarterly schedule.
Worth knowing
- Cost is the trade-off: 0.63% a year, versus 0.03% at the giant index peers (BND, SPAB, SCHZ) that own the aggregate bond market outright.
- A small, thinly traded fund. Spreads can widen and large orders can move the price, which matters less with the mega-cap index names.
- The strategy is mid-repositioning and portfolio disclosure has run behind, so the latest holdings file is worth a look before assuming what is inside.
ABXB Holdings
- Bonds
- 8
- 100%
- VGSH
Geography
- United States100.00%
ABXB Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
ABXB$10,015
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | ABXB |
|---|---|
| Year to date | −1.7% |
| 1 month | −0.9% |
| 3 months | −1.8% |
| 1 year | +0.1% |
| 3 years | +5.9% |
| 5 years | +0.7% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ABXB |
|---|---|---|
| 2026 YTD | −1.7% | |
| 2025 | +8.7% | |
| 2024 | +4.6% | |
| 2023 | +7.8% | |
| 2022 | −14.5% | |
| 2021 | +1.3% | |
| 2020 | +0.8% |
ABXB in the news
ABXB Dividends
- 4.83%
- $0.90
- $0.22 per share
- Quarterly
Distribution history
ABXB Risk
- 4.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.24
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.31
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ABXB Cost
0.83%
ABXB0.83%
- The middle half of US Aggregate Bond funds
- Median 0.34%
107 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- DEDGF3EDGE Dynamic Fixed Income ETFExpense ratio 0.79%1 year return +0.9%
- DLVIGLongview Advantage Fixed Income ETFExpense ratio 0.49%1 year return —
- DTPFIThe Timothy Plan - Timothy Plan Fixed Income ETFExpense ratio 0.55%1 year return —
- FSJCPSanJac Alpha Core Plus Bond ETFExpense ratio 0.65%1 year return +1.8%
- FFFIUUVA Unconstrained Medium-Term Fixed Income ETFExpense ratio 0.82%1 year return −3.6%