Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
SanJac Alpha Core Plus Bond ETF
$24.66+0.01 (+0.04%)
- 0.65%
- $7M
- +1.8%
- 3.91%
- 0M sh
- $24.63
- low $24.62high $25.50
The ETF.net SJCP Grade
F
Score 23 out of 100
- 113 of 117
Score 23 of 100 falls in the F 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.F9 out of 100Rank 106 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.F13 out of 100Rank 100 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A84 out of 100Rank 6 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F5 out of 100Rank 113 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D28 out of 100Rank 106 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D27 out of 100Rank 102 of 117
Our read on SJCP
FA boutique's hand-picked answer to the index Agg. SanJac's managers choose the bonds themselves, aiming for current income and total return with limited volatility and preservation of capital. Small, new, and priced like a specialist.
The Fund seeks current income and total returns consistent with limited volatility and preservation of capital.
Why people hold it
- Actively managed, not index-shackled: the stated goal is current income and total return consistent with limited volatility and preservation of capital.
- Plain wrapper, plain plumbing: a US-focused 1940 Act ETF that pays income quarterly. No K-1 exotica, no derivatives-driven payout formula.
- Volatility has been the strong suit so far: price swings have run milder than much of the aggregate-bond peer group, though the record is short.
Worth knowing
- 0.65% a year is real money in bond land, where index anchors like BND and SPAB charge a sliver of that. You are paying for the manager's judgment.
- Small asset base and thin trading, so bid-ask spreads can be wider than the category's household names.
- Launched in 2024, and it currently sits in the lower reaches of a crowded aggregate-bond field on our review of cost, scale and mandate evidence.
SJCP Holdings
- Bonds
- 22
- 94%
- U.S. Bank Money Market Deposit Account 08/01/2031
Geography
- United States100.00%
SJCP 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.
SJCP$10,184
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 | SJCP |
|---|---|
| Year to date | +0.6% |
| 1 month | −0.6% |
| 3 months | −0.4% |
| 1 year | +1.8% |
| 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 | SJCP |
|---|---|---|
| 2026 YTD | +0.6% | |
| 2025 | +6.3% | |
| 2024 | −0.3% |
SJCP in the news
SJCP Dividends
- 3.91%
- $0.96
- $0.27 per share
- Quarterly
Distribution history
SJCP Risk
- 2.3%
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.
- −0.39
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.
- −2.0%
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.
- 0.13
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SJCP Cost
0.65%
SJCP0.65%
- The middle half of US Aggregate Bond funds
- Median 0.34%
101 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- DLVIGLongview Advantage Fixed Income ETFExpense ratio 0.49%1 year return —
- DABXBAbacus Flexible Bond Leaders ETFExpense ratio 0.83%1 year return +0.1%
- DTPFIThe Timothy Plan - Timothy Plan Fixed Income ETFExpense ratio 0.55%1 year return —
- FFFIUUVA Unconstrained Medium-Term Fixed Income ETFExpense ratio 0.82%1 year return −3.6%
- FCRDTSimplify Opportunistic Income ETFExpense ratio 0.99%1 year return −9.0%