---
title: "BondBloxx's 0.22% bond ETF sits between cheap index funds and costlier active ones"
url: "https://etf.net/news/bondbloxx-bond-etf-priced-between-peers-2026-11-06"
published_at: "2026-11-06T17:24:21.691Z"
updated_at: "2026-11-06T17:24:21.691Z"
byline: "ETF.net Research"
---

# BondBloxx's 0.22% bond ETF sits between cheap index funds and costlier active ones

On Nov. 5, 2026, Canary Capital also listed a fund that holds and stakes the Injective blockchain's token, at a 1.10% fee plus 30% of the rewards.

By ETF.net Research. Published Nov 6, 2026.

Two unrelated funds listed on Thursday, Nov. 5, 2026. BondBloxx's bond fund is priced between cheap index funds and costlier active ones. Canary Capital's fund holds and stakes INJ, the token of the Injective blockchain.

## BondBloxx Core Plus ETF

BondBloxx listed the BondBloxx Core Plus ETF, BBLX, on NYSE Arca. Core-plus means a standard bond portfolio plus higher-yielding debt: high-yield corporates, emerging-market bonds and collateralized loan obligations, or CLOs, which are bonds backed by pools of corporate loans.

The fund tracks the J.P. Morgan GABI USD Liquid Plus Index and charges **0.22%**. GABI is J.P. Morgan's Global Aggregate Bond Index. [BondBloxx's page](https://bondbloxxetf.com/bondbloxx-core-plus-etf/) showed $8 million in net assets as of Thursday.

Tony Kelly, BondBloxx's head of product, said in the [firm's Thursday announcement](https://bondbloxxetf.com/newsroom/bondbloxx-launches-bblx-core-plus-etf/) that investors have had to choose "between low-cost aggregate bond index funds and higher-cost active core plus strategies." BBLX is priced between those two.

BlackRock's iShares Core Universal USD Bond ETF, IUSB, tracks the Bloomberg U.S. Universal Index and charges 0.06%. [iShares](https://www.ishares.com/us/products/264615/ishares-core-universal-usd-bond-etf) reported $50.4 billion in the fund as of Thursday. It listed in June 2014.

Vanguard Core-Plus Bond Index ETF, BNDP, tracks the Bloomberg U.S. Universal Float Adjusted Index and charges 0.05%. [Vanguard's Sept. 30 fact sheet](https://fund-docs.vanguard.com/FV056.pdf) put assets at $133 million. The fund started Dec. 2, 2025.

J.P. Morgan's JPMorgan Core Plus Bond ETF, JCPB, is the active fund on the other side of that tradeoff. [Its Sept. 30 fact sheet](https://am.jpmorgan.com/content/dam/jpm-am-aem/americas/us/en/literature/fact-sheet/etfs/FS-JCPB.PDF) showed a 0.37% net expense ratio, a 0.40% gross expense ratio and $15.18 billion in assets. Its rules allow up to 30% in below-investment-grade bonds. That 30% is a ceiling, not a holding.

BBLX costs 0.16 percentage points more a year than IUSB and 0.17 percentage points more than BNDP, and 0.15 percentage points less than JCPB's net fee.

IUSB's index already includes the high-yield and emerging-market bonds in this kind of portfolio. Its [Feb. 27 summary prospectus](https://www.sec.gov/Archives/edgar/data/1100663/000119312526081829/d848036d497k.htm) says the Bloomberg index includes Treasuries, government-related bonds, investment-grade and high-yield corporate bonds, mortgage- and asset-backed securities, and dollar emerging-market bonds. It does not name CLOs.

J.P. Morgan's Sept. 15 methodology, using weights as of Aug. 31, put Treasuries at 45.35% of BBLX's index, high-yield corporates at 3.6% and CLOs at 2.22%. Emerging-market sovereign bonds were 4.04%, and emerging-market corporates were 2.93%.

The index was created in September 2026, with history filled back to Dec. 31, 2014, so a long chart of the benchmark is not a live record.

Liquidity screens drop smaller bonds, the ones a fund would have trouble trading. At each month-end the index resets every sector's weight to the parent dollar version of the Global Aggregate, so that cut does not become a bet on one sector. The [Oct. 21 prospectus](https://www.sec.gov/Archives/edgar/data/1879238/000182912626011362/bondbloxxetf_485bpos.htm) says BBLX will sample the index rather than hold every bond.

For the extra 0.16 percentage points over IUSB, an investor gets an index with a 2.22% CLO sleeve and those liquidity screens.

BBLX is 0.15 percentage points under JCPB's net fee. It tracks an index that held 3.6% in high-yield corporates on Aug. 31, while JCPB's rules allow up to 30% in below-investment-grade bonds, a ceiling rather than a holding.

## Canary Staked INJ ETF

Canary Capital listed the Canary Staked INJ ETF, INJC, on Nasdaq the same day. INJ is the token of Injective, a blockchain. The fund holds the token and stakes it, locking tokens on the network in exchange for more of them.

[Canary's announcement](https://canaryetfs.com/canary-capital-launches-the-first-u-s-spot-staked-inj-etf-ticker-injc) calls it the first U.S. spot staked INJ ETF. Spot means the fund holds the token itself rather than a futures contract. [Canary's page](https://canaryetfs.com/injc/) showed $15.6 million of net assets as of Thursday.

The [Nov. 4 prospectus](https://www.sec.gov/Archives/edgar/data/2073616/000199937126024476/inj-424b3_110426.htm) sets a **1.10%** annual sponsor fee on the trust's INJ, accruing daily in the token. The fee comes out whether staking pays or not.

The sponsor expects to stake at least 90% of the tokens in normal circumstances. Staking fees are expected to take 30% of the rewards, leaving the trust 70%. Rewards go into the net asset value and are staked again, not paid in cash.

It is not the first listed product to stake the token. 21Shares' Injective Staking ETP, domiciled in Switzerland, holds INJ and stakes it.

The [Oct. 30 fact sheet](https://cdn.21shares.com/uploads/current-documents/factsheets/all/Factsheet_AINJ.pdf) shows a 2.50% fee, more than twice INJC's 1.10%. That product is not a U.S. fund.

As of Sept. 15, the prospectus said the network's own settings implied an annualized reward rate of about 6.8%. That figure is not a return the trust has earned. Canary says it cannot predict the rate the trust will get, and that the rate would be expected to fall if more of the token is staked.

Tokens the trust takes out of staking are locked for 21 days. They cannot be transferred and earn nothing while they wait. A shareholder can still sell the ETF on Nasdaq without waiting out that lock.

The trust is not registered under the Investment Company Act of 1940. Shareholders do not get the protections of a registered fund, including independent directors and limits on dealings with related parties.

For a U.S. taxpayer, the sponsor expects the holder to be taxed as if they owned a share of the trust's INJ. Staking rewards would be taxable income under current IRS guidance. The trust does not expect to pay cash distributions, so any tax has to come from other money.

INJC is the cheaper of the two listed products that stake INJ. The 1.10% still comes out of the token either way, and staking fees take 30% of any rewards before the trust keeps the rest.

Source: etf.net, https://etf.net/news/bondbloxx-bond-etf-priced-between-peers-2026-11-06. Please cite the page URL.