FCBD vs IUSB: Grades, Fees and Holdings Compared

Frontier Asset Core Bond ETF

FCBDCNYSE Arca

iShares Core Universal USD Bond ETF

IUSBANasdaq

Overlap

0.0%by weight

Expense ratio

IUSB −0.78pt a year

FCBD0.84%IUSB0.06%

Avg volume · 30D

IUSB 2004.5×the volume

FCBD3.06KIUSB6.13M

FCBD vs IUSB Performance

Oct 31, 2025 – Oct 30, 2026

+0.8%FCBD0.0%IUSB

Expense ratio: FCBD 0.84%; IUSB 0.06%, better
Fund size: FCBD $40M; IUSB $50.2B
1Y total return: FCBD +0.8%, better; IUSB 0.0%
Yield (12M): FCBD 4.09%; IUSB 4.32%, better
Holdings: FCBD 8; IUSB 18280
Avg volume (30D): FCBD 3.06K sh; IUSB 6.13M sh, better
NAV per share: FCBD $24.93; IUSB $44.91
52W range

ETF.net Grade

Pillar letters and Scores for FCBD, IUSB, with each pillar’s weight
Pillar	FCBD	IUSB
Cost30% weight	F4	A92Higher
Mission25% weight	A84	A100Higher
Risk15% weight	B64Higher	C54
Tradability15% weight	C41	A89Higher
Holdings10% weight	D33	A76Higher
Durability5% weight	F15	A94Higher

Rank among US Aggregate Bond funds

How we build Categories ›

Same Category. FCBD and IUSB are both graded against the same 114 US Aggregate Bond funds, so their Grades compare head to head.

US Aggregate Bond⁠

Category · 114 funds

See all 114 ›

IUSB ranks 2nd and FCBD 93rd of 114 funds in the US Aggregate Bond Category.

Rank 1AAGGiShares Core U.S. Aggregate Bond ETFScore 87
Rank 2AIUSBiShares Core Universal USD Bond ETFScore 86
Rank 2ASCHZSchwab U.S. Aggregate Bond ETFScore 86
Rank 93CDMXDoubleLine Multi-Sector Income ETFScore 42
Rank 93CFCBDFrontier Asset Core Bond ETFScore 42
Rank 93CLDSFFirst Trust Low Duration Strategic Focus ETFScore 42

Our read on each fund

ETF.net Research

FCBDCFrontier Asset Core Bond ETF

IUSBAiShares Core Universal USD Bond ETF

In short

FCBD No data

IUSB Most core bond funds stop at investment grade. IUSB keeps going, folding high-yield USD debt into the same wrapper across roughly 18,000 bonds, for 0.06% a year.

Stated mandate

FCBD No data

IUSB The Fund seeks to track an index of U.S.-dollar-denominated bonds spanning investment-grade and high-yield sectors.

Why people hold it

FCBD No data

IUSB 0.06% a year, a fraction of what the typical broad bond fund in its category charges, and iShares has run it since 2014.
Roughly 18,000 bonds spanning investment-grade and high-yield sectors, so one ticker covers ground a plain Agg tracker leaves on the table.ishares.com
Tracks its index closely, trades heavily, and sits on a multi-billion-dollar asset base. Income is paid monthly.
Among the strongest implementations in a crowded field of nearly 200 core bond funds.

Worth knowing

FCBD No data

IUSB That high-yield sleeve is the trade-off: more credit risk than an investment-grade-only fund, and more movement when spreads widen.
BND, SPAB and SCHZ charge 0.03%, half IUSB's fee, but they stay inside investment grade.
Payouts land monthly, but the amount floats with the coupons underneath. Nothing about the income stream is fixed.

Full FCBD profile⁠

Full IUSB profile⁠

FCBD vs IUSB Holdings

How FCBD and IUSB differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of FCBD and 0.0% of IUSB.

Level by level

Asset classEquity, Fixed Income0.0%
Sector15 Sectors0.0%
Holdings0 in both0.0%
Countryby domicile88.1%

Sector

Sector weights in FCBD and IUSB, widest gap first
Sector	More in FCBDMore in IUSB	FCBD	IUSB
Government	FCBD +49.1 points	49.1%	0.0%
Treasury	IUSB +40.6 points	0.0%	40.6%
Securitized	FCBD +30.9 points	30.9%	0.0%
Corporate	FCBD +20.0 points	20.0%	0.0%
MBS Pass-Through	IUSB +19.6 points	0.0%	19.6%
Industrial	IUSB +18.4 points	0.0%	18.4%
Financial Institutions	IUSB +10.0 points	0.0%	10.0%
Sovereign	IUSB +3.3 points	0.0%	3.3%
Utility	IUSB +2.7 points	0.0%	2.7%
Agency	IUSB +2.3 points	0.0%	2.3%
CMBS	IUSB +1.2 points	0.0%	1.2%
Supranational	IUSB +1.0 points	0.0%	1.0%
Local Authority	IUSB +0.5 points	0.0%	0.5%
ABS	IUSB +0.3 points	0.0%	0.3%
Municipal	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FCBD and IUSB, widest gap first
Country	More in FCBDMore in IUSB	FCBD	IUSB
United States	FCBD +11.9 points	100.0%	88.1%
Cayman Islands	IUSB +3.1 points	0.0%	3.1%
Canada	IUSB +1.2 points	0.0%	1.2%
United Kingdom	IUSB +1.0 points	0.0%	1.0%
Japan	IUSB +0.6 points	0.0%	0.6%
Mexico	IUSB +0.5 points	0.0%	0.5%
Other countries (34)	IUSB +5.5 points	0.0%	5.5%

Concentration

Weight in the 10 largest Holdings

FCBD100.0%
IUSB8.1%

Securities held

FCBD7
IUSB17,809

Asset class

FCBD: Equity
IUSB: Fixed Income

Holdings

Only in FCBD7
In both0
Only in IUSB17,809

Only in FCBD

7 securities, 98.7% of FCBD by weight

Vanguard Intermediate-Term T24.66%
Tcw Flexible Income Etf23.91%
JPMorgan Core Plus Bond Etf18.20%
Regan Floating Rate Mbs Etf10.08%
Wisdomtree Floating Rate Tre10.06%
JPMorgan Ultra-Short Income6.54%
Ishares Investment Grade Sys5.25%

Only in IUSB

17,809 securities, 99.1% of IUSB by weight

Treasury Note 4.63% 02/15/20350.49%
Treasury Note 4.00% 11/15/20350.42%
Treasury Note 4.25% 08/15/20350.41%
Treasury Note 1.88% 02/15/20320.38%
Umbs 15YR Tba(Reg B) 2.00% 11/17/20260.37%
Treasury Note 4.13% 05/31/20310.37%
Treasury Note (2OLD) 4.13% 02/15/20360.36%
Treasury Note (Old) 5.00% 09/30/20310.35%
Umbs 30YR Tba(Reg A) 5.50% 11/12/20260.34%
Treasury Note (Old) 4.38% 05/15/20360.33%
Treasury Note 4.25% 11/15/20340.33%
Treasury Note (2OLD) 4.13% 08/31/20280.33%
Treasury Note 4.25% 05/15/20350.33%
Treasury Note 1.25% 09/30/20280.33%
Treasury Note 3.88% 08/15/20340.32%
Treasury Note 4.38% 12/31/20290.32%
Treasury Note 4.63% 09/30/20280.32%
Treasury Note 4.13% 06/30/20310.31%
Treasury Note (Otr) 4.63% 08/15/20360.31%
Treasury Note 1.38% 11/15/20310.31%
Treasury Note 4.00% 07/31/20290.31%
Treasury Note 4.00% 02/15/20340.31%
Treasury Note 4.38% 05/15/20340.31%
Treasury Note 3.50% 09/30/20290.30%
Umbs 30YR Tba(Reg A) 2.00% 11/12/20260.29%
Treasury Note 2.75% 08/15/20320.28%
Treasury Note 3.38% 09/15/20280.28%
Treasury Note 4.50% 11/15/20330.28%
Treasury Note 4.63% 04/30/20290.27%
Treasury Note 3.50% 10/15/20280.27%
Treasury Note 4.38% 07/31/20310.26%
Treasury Note 3.88% 08/15/20330.26%
Treasury Note 4.00% 02/28/20300.26%
Umbs 30YR Tba(Reg A) 2.50% 11/12/20260.26%
Treasury Note 3.50% 02/15/20330.26%
Treasury Note 4.00% 05/31/20280.26%
Treasury Note 3.88% 06/15/20280.26%
Treasury Note 3.88% 07/15/20280.25%
Treasury Note 3.63% 09/30/20300.25%
Treasury Note 3.63% 10/31/20300.25%
Treasury Note 1.25% 08/15/20310.25%
Treasury Note 1.38% 10/31/20280.24%
Treasury Note (2OLD) 4.38% 08/31/20310.24%
Treasury Note 3.88% 03/31/20310.24%
Fnma 30YR Umbs Super 2.00% 12/01/20530.24%
Treasury Note 3.75% 05/15/20280.23%
Treasury Note 3.63% 12/31/20300.23%
Umbs 30YR Tba(Reg A) 4.00% 11/12/20260.23%
Treasury Note 4.13% 11/15/20320.23%
Treasury Note 3.75% 04/15/20280.23%

Weight gaps

FCBD and IUSB share no securities.

All FCBD holdings⁠All 18,365 IUSB 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.

FCBD vs IUSB Cost

Overpaying FCBD vs IUSB

$14,759

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

FCBD 0.84%
$16,029
IUSB 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

FCBD 0.84%
IUSB 0.06%
Overpaying

Year by year

Year	FCBD	IUSB	Overpaying
10	$1,491	$110	$1,381
20	$5,643	$432	$5,211
30	$16,029	$1,270	$14,759

Expense ratio

0.84%FCBD
0.06%IUSB, cheaper

IUSB0.06%FCBD0.84%

0.00%1.04%

Middle half of US Aggregate Bond funds
Median 0.34%

IUSB 10th cheapest of 114 funds

FCBD 109th cheapest of 114 funds

FCBD vs IUSB Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FCBD 4.09%; IUSB 4.32%, better
Payout (12M): FCBD $1.02; IUSB $1.94
Last payment: FCBD $0.23; IUSB $0.15
Ex-dividend: FCBD Sep 29, 2026; IUSB Oct 1, 2026
Paid on: FCBD Oct 6, 2026; IUSB Oct 6, 2026
Frequency: FCBD Quarterly; IUSB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FCBDQuarterly · 8 paymentsAll FCBD payments⁠

IUSBMonthly · 45 paymentsAll IUSB payments⁠

FCBD vs IUSB Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FCBD 2.8%since Jan 2025IUSB 5.5%
Return per unit of riskSharpe ratio, 3 years: FCBD −0.19since Jan 2025IUSB 0.25
Worst fallMax drawdown, 5 years: FCBD −2.7%since Dec 2024IUSB −17.4%
Market sensitivityBeta, 5 years: FCBD 0.06IUSB 0.96; Market = 1

FCBD and IUSB in the news

All news⁠

ETF Filings
BondBloxx registers a 0.22% core-plus bond ETF, and two funds still not for sale
Oct 21, 2026IUSB

Popular comparisons

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FCBDCvsSPABA
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Category

FCBD vs IUSB

In short

Stated mandate

Why people hold it

Worth knowing

How FCBD and IUSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCBD

Only in IUSB

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BondBloxx registers a 0.22% core-plus bond ETF, and two funds still not for sale

How FCBD and IUSB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCBD

Only in IUSB

Weight gaps