Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Alliance Bernstein - AB Core Plus Bond ETF
$33.44−0.02 (−0.07%)
- 0.30%
- $200M
- −2.4%
- 4.88%
- 0M sh
- $33.43
- low $33.21high $36.29
The ETF.net CPLS Grade
B
Score 57 out of 100
- 69 of 117
Score 57 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.B56 out of 100Rank 52 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.D27 out of 100Rank 110 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C44 out of 100Rank 72 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D32 out of 100Rank 101 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D37 out of 100Rank 90 of 117
Our read on CPLS
BAn actively run core-plus bond fund priced at 0.30%, with room to roam past the Agg into lower-rated and securitized credit. Built by a fixed-income house rather than an index shop, and launched in December 2023.
The fund seeks to maximize total return through current income and long-term capital appreciation. It is actively managed and invests primarily in fixed-income securities, with selective exposure to lower-rated and securitized debt.
Why people hold it
- 0.30% sits below the median fee in its bond peer group and undercuts active core-plus rivals like FBND (0.36%), FLXR (0.40%) and DBND (0.45%).
- The Bloomberg U.S. Aggregate is the yardstick, not the cage: managers can add lower-rated and securitized debt that a pure index tracker has to skip.
- The portfolio matches its stated core-plus mandate closely, spreading risk across roughly 800 bonds and paying income monthly.
- Security selection is systematic and bottom-up, leaning on value and momentum signals rather than a single manager's macro hunch.alliancebernstein.com
Worth knowing
- Thinly traded and still a small fund, so spreads run wider than the giant Agg trackers. Limit orders earn their keep here.
- Plain index Agg funds (BND, AGG, SPAB) charge 0.03%. You are paying roughly ten times that for manager judgment, and that judgment is the whole difference.
- Launched in December 2023, so there is no track record spanning a full rate cycle. The 'plus' sleeve also adds credit risk the Agg does not carry.
CPLS Holdings
- Bonds
- 794
- 39%
- Us 5YR Note (Cbt) DEC26 Xcbt 20261231
Sectors
- Government53.9%
- Corporate38.9%
- Securitized7.1%
Geography
- United States100.00%
CPLS 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.
CPLS$9,762
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 | CPLS |
|---|---|
| Year to date | −2.6% |
| 1 month | −1.3% |
| 3 months | −2.8% |
| 1 year | −2.4% |
| 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 | CPLS |
|---|---|---|
| 2026 YTD | −2.6% | |
| 2025 | +6.9% | |
| 2024 | +1.6% | |
| 2023 | +1.2% |
CPLS in the news
CPLS Dividends
- 4.88%
- $1.63
- $0.13 per share
- Monthly
Distribution history
CPLS 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.
- −0.54
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.
- −4.7%
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.
- 0.15
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
CPLS Cost
0.30%
CPLS0.30%
- The middle half of US Aggregate Bond funds
- Median 0.34%
49 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- BTCPBThrivent Core Plus Bond ETFExpense ratio 0.39%1 year return −2.1%
- BWCPBWeitz Core Plus Bond ETFExpense ratio 0.45%1 year return −0.5%
- BTOTLState Street DoubleLine Total Return Tactical ETFExpense ratio 0.55%1 year return −2.6%
- BAGGSHarbor Disciplined Bond ETF (AGGS)Expense ratio 0.35%1 year return −1.3%
- CBKFIBNY Mellon Active Core Bond ETFExpense ratio 0.40%1 year return —