AVGB vs SPBO: Grades, Fees and Holdings Compared

Avantis Credit ETF

AVGBBNasdaq

State Street SPDR Portfolio Corporate Bond ETF

SPBOANYSE Arca

Overlap

No data

Expense ratio

SPBO −0.16pt a year

AVGB0.19%SPBO0.03%

Avg volume · 30D

SPBO 40.4×the volume

AVGB13.8KSPBO556K

AVGB vs SPBO Performance

Nov 7, 2025 – Nov 9, 2026

+1.6%AVGB+0.3%SPBO

Expense ratio: AVGB 0.19%; SPBO 0.03%, better
Fund size: AVGB $68M; SPBO $2.13B
1Y total return: AVGB +1.6%, better; SPBO +0.3%
Yield (12M): AVGB 3.62%; SPBO 5.27%, better
Holdings: AVGB 223; SPBO 4469
Avg volume (30D): AVGB 13.8K sh; SPBO 556K sh, better
NAV per share: AVGB $50.46; SPBO $27.99
52W range

ETF.net Grade

Pillar letters and Scores for AVGB, SPBO, with each pillar’s weight
Pillar	AVGB	SPBO
Cost30% weight	B61	A98Higher
Mission25% weight	A85	A100Higher
Risk15% weight	A74Higher	C51
Tradability15% weight	C54	A84Higher
Holdings10% weight	C46	A82Higher
Durability5% weight	C44	A90Higher

Rank among Investment Grade Corporate funds

How we build Categories ›

Same Category. AVGB and SPBO are both graded against the same 49 Investment Grade Corporate funds, so their Grades compare head to head.

Investment Grade Corporate⁠

Category · 49 funds

See all 49 ›

SPBO ranks 2nd and AVGB 17th of 49 funds in the Investment Grade Corporate Category.

Rank 1AUSIGiShares Broad USD Investment Grade Corporate Bond ETFScore 89
Rank 2ASPBOState Street SPDR Portfolio Corporate Bond ETFScore 87
Rank 3AVTCVanguard Total Corporate Bond ETFScore 86
Rank 15BPFIGInvesco Fundamental Investment Grade Corporate Bond ETFScore 66
Rank 17BAVGBAvantis Credit ETFScore 65
Rank 17BKORPAmerican Century Diversified Corporate Bond ETFScore 65

Our read on each fund

ETF.net Research

AVGBBAvantis Credit ETF

SPBOAState Street SPDR Portfolio Corporate Bond ETF

In short

AVGB A 2025 arrival from Avantis: roughly 160 investment-grade credit holdings run to a one-line mandate (maximize total return), developed-market issuers included, at a fee sitting right on the category median.

SPBO The whole investment-grade corporate bond market in one ticker for three basis points. Most rivals sell you a maturity slice; SPBO owns the lot, and it undercuts other funds tracking the very same Bloomberg index.

Stated mandate

AVGB The fund seeks to maximize total return.

SPBO The fund seeks investment results that generally correspond, before fees and expenses, to the price and yield performance of the Bloomberg U.S. Corporate Bond Index.

Why people hold it

AVGB The mandate is refreshingly plain: maximize total return from a credit portfolio of roughly 160 holdings, not a thousand-line index replica.avantisinvestors.com
0.19% a year lands exactly on the median fee for investment-grade corporate bond ETFs. No newcomer premium for the newer approach.
The credit net stretches past US borders into developed international issuers, wider than a purely domestic corporate lineup.avantisinvestors.com
Cash comes quarterly, with no advertised target yield to reverse-engineer. Payouts follow what the bonds throw off.avantisinvestors.com

SPBO 0.03% a year against a category median of 0.19%. In bond land, where the yield does the heavy lifting, that fee gap is not a rounding error.
Thousands of corporate bonds across the full maturity range, so you hold the broad IG corporate market instead of one duration bucket.ssga.com
Same index, very different tolls: KORP charges 0.29%, JLQD 0.35%, JHCB 0.53%. SPBO sits at the cheap end of that list.
Running since 2011, pays monthly, and tracks its benchmark about as closely as anything in the investment-grade corporate group.

Worth knowing

AVGB The index heavyweights in this category charge a sliver of that fee: VCIT at 0.03%, USIG, SPIB and IGIB at 0.04%.
Still a small, thinly traded fund, so bid-ask spreads can run wider than the category's giants and trade size matters more.
It opened in April 2025. That is a thin track record next to peers with decades of behavior on the tape.

SPBO Full maturity range means long-dated paper is in the mix, so the price moves more when rates move than short-maturity peers like IGSB or SPIB.
Corporate credit only. No Treasuries or mortgages to lean on, so the fund rides the health of corporate borrowers as well as the rate cycle.ssga.com
Investment grade by design, US issuers only. No high-yield or emerging-market bonds in the basket.

Full AVGB profile⁠

Full SPBO profile⁠

AVGB vs SPBO Holdings

How AVGB and SPBO differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile73.6%
Asset classBonds100%

Sector

No Sector split for AVGB.

Country, concentration and asset class

Country by domicile

Country weights in AVGB and SPBO, widest gap first
Country	Gap	AVGB	SPBO
United States	SPBO +22.5 points	64.8%	87.3%
Canada	AVGB +5.3 points	8.3%	3.0%
Germany	AVGB +4.3 points	4.3%	0.0%
France	AVGB +3.7 points	3.9%	0.2%
Italy	AVGB +2.8 points	2.8%	0.0%
Netherlands	AVGB +2.1 points	2.8%	0.7%
Japan	SPBO +1.9 points	0.0%	1.9%
United Kingdom	AVGB +1.6 points	4.8%	3.2%
Other countries (17)	AVGB +4.7 points	8.2%	3.5%

Outside the US: AVGB 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

AVGB11.5%
SPBO2.1%

Securities held

AVGB215
SPBO4,420

Asset class

AVGB: Bonds
SPBO: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. AVGB holds 215 securities, SPBO 4,420.

All 259 AVGB holdings⁠All 4,486 SPBO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AVGB vs SPBO Cost

Overpaying AVGB vs SPBO

$3,314

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

AVGB 0.19%
$3,952
SPBO 0.03%
$638

Amount$10,000

Years30 years

Cost over time

AVGB 0.19%
SPBO 0.03%
Overpaying

Year by year

Year	AVGB	SPBO	Overpaying
10	$347	$55	$292
20	$1,351	$216	$1,135
30	$3,952	$638	$3,314

Expense ratio

0.19%AVGB
0.03%SPBO, cheaper

SPBO0.03%AVGB0.19%

0.03%0.53%

Middle half of Investment Grade Corporate funds
Median 0.25%

SPBO cheapest of 49 funds

AVGB 18th cheapest of 49 funds

AVGB vs SPBO Dividends

Last 12 months to Nov 9, 2026

Yield (12M): AVGB 3.62%; SPBO 5.27%, better
Payout (12M): AVGB $1.83; SPBO $1.48
Last payment: AVGB $0.50; SPBO $0.13
Ex-dividend: AVGB Sep 8, 2026; SPBO Nov 2, 2026
Paid on: AVGB Sep 10, 2026; SPBO Nov 5, 2026
Frequency: AVGB Quarterly; SPBO Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AVGBQuarterly · 5 paymentsAll AVGB payments⁠

SPBOMonthly · 46 paymentsAll SPBO payments⁠

AVGB vs SPBO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AVGB 2.7%since May 2025SPBO 6.4%
Return per unit of riskSharpe ratio, 3 years: AVGB −0.32since May 2025SPBO 0.34
Worst fallMax drawdown, 5 years: AVGB −2.3%since Apr 2025SPBO −21.7%
Market sensitivityBeta, 5 years: AVGB 0.12SPBO 1.11; Market = 1

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