Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
F/m Compoundr U.S. Aggregate Bond ETF
$99.26+0.08 (+0.09%)
- 0.31%
- $147M
- −2.7%
- 0M sh
- $99.12
- low $98.41high $103.94
The ETF.net CPAG Grade
B
Score 59 out of 100
- 61 of 117
Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C53 out of 100Rank 53 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D38 out of 100Rank 88 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B57 out of 100Rank 42 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F19 out of 100Rank 115 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D39 out of 100Rank 86 of 117
Our read on CPAG
BA core U.S. bond fund built to compound rather than pay out. It tracks the Nasdaq Compoundr U.S. Aggregate Bond Index, and income stays inside the fund instead of landing in your account as cash.
The fund seeks investment results corresponding to the Nasdaq Compoundr U.S. Aggregate Bond Index. It generally uses replication and may use representative sampling when full replication is not practicable.
Why people hold it
- Income compounds inside the fund instead of arriving as cash, so there is nothing to reinvest by hand.
- At 0.31% a year, it undercuts the typical fund in the core bond crowd.
- Simple machinery: replicate the index, and sample only when full replication is not practical. No side bets bolted onto the mandate.
Worth knowing
- The 0.03% giants (BND, SPAB, SCHZ) are right there. The compounding wrapper is what the extra fee buys.
- Launched in 2025, still small and thinly traded, so the record is short and spreads can run wider than the mega-Aggs. Limit orders earn their keep.
- Nothing shows up in your account to spend. That is a different rhythm from a core bond fund that pays monthly.
CPAG Holdings
- Bonds
- 1
- 100%
- AGG
Geography
- United States100.00%
CPAG 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.Not enough history yet.Not enough history yet.
CPAG$9,727
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 | CPAG |
|---|---|
| Year to date | −3.0% |
| 1 month | −1.1% |
| 3 months | −2.8% |
| 1 year | −2.7% |
| 3 years | — |
| 5 years | — |
| 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 | CPAG |
|---|---|---|
| 2026 YTD | −3.0% | |
| 2025 | +2.2% |
CPAG in the news
CPAG Dividends
No distributions in the last 12 months.
CPAG Risk
- 4.0%
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.
- −1.31
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.
- −5.1%
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.
- 0.08
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CPAG Cost
0.31%
CPAG0.31%
- The middle half of US Aggregate Bond funds
- Median 0.34%
50 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BUBNDVictoryShares Core Plus Bond ETFExpense ratio 0.45%1 year return −1.7%
- BAPCBActivePassive Core Bond ETFExpense ratio 0.36%1 year return −1.7%
- BJPIEJPMorgan Income ETFExpense ratio 0.40%1 year return +2.6%
- BDBNDDoubleLine Opportunistic Core Bond ETFExpense ratio 0.45%1 year return −2.1%
- BPTRBPGIM Total Return Bond ETFExpense ratio 0.49%1 year return −1.9%