CPLB vs DFGP

CPLBBNYLI MacKay Core Plus Bond ETF

DFGPADimensional Global Core Plus Fixed Income ETF

In short

CPLB Born in 2021 as an ESG bond fund, CPLB dropped the screens in December 2024 and came back as a plain actively managed core plus bond ETF from MacKay Shields, at 0.30% net of a waiver through August 28, 2027.

DFGP Dimensional's global bond playbook in ETF form: roughly 1,300 US and foreign bonds, chosen by rules that chase credit and term premiums, at 0.22% net of a waiver through February 28, 2027.

Stated mandate

CPLB The Fund seeks total return.

DFGP The fund seeks its objective through investments in U.S. and foreign fixed-income securities.

Why people hold it

• CPLB 0.30% net of a waiver through August 28, 2027, below the category median and under Fidelity's FBND at 0.36%.sec.gov
• No index to hug: MacKay Shields' multi-sector and high-yield teams pick the bonds, roughly 1,000 of them, with prospectus limits on how far they can reach.nylim.comsec.gov
• Pays monthly, and the portfolio matches the mandate on the tin: global bonds, total return, nothing exotic bolted on. One of the stronger builds in its peer group.

• DFGP Charges 0.22% net of a waiver through February 28, 2027 (0.23% gross), below the median fee among the 29 funds in its global bond category.
• Roughly 1,300 holdings spanning US and foreign issuers, so no single borrower or government steers the whole portfolio.sec.gov
• Rules-driven, not hunch-driven: the strategy targets expected credit and term premiums, and the book matches the mandate in its filings.sec.gov
• Stands among the strongest builds in a 29-fund global bond group on our review.

Worth knowing

• CPLB The 'plus' is credit risk: up to 30% can sit below investment grade, up to 20% in foreign issuers and up to 10% in emerging markets.sec.gov
• That 0.30% is a contract, not a promise: the gross fee is 0.44%, and the cap runs to August 28, 2027.sec.gov
• Moderately traded rather than a category heavyweight, so trading costs matter more here than with the largest bond ETFs.

• DFGP Credit is part of the design: the strategy pursues credit premiums and can use credit default swaps, so spread stress shows up here more than in a Treasury-only fund.sec.gov
• Index routes cost less: BNDW charges 0.05% for a plain total-world bond basket, without the active credit work.
• Payouts arrive on an irregular schedule, not a fixed monthly one, and the shares are moderately traded rather than a volume giant.

Full CPLB profile⁠

Full DFGP profile⁠