IUSB vs OACP

IUSBAiShares Core Universal USD Bond ETF

OACPCOneAscent Core Plus Bond ETF

In short

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.

OACP OneAscent's values screens set the eligible universe; an outside institutional bond team builds the portfolio from what clears. Actively managed, pays monthly, and free to roam past the Agg into high yield, non-US dollar and emerging market debt.

Stated mandate

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

OACP The Fund seeks total return, emphasizing income while applying values-based and impact criteria. Its strategy invests primarily in a broad range of fixed-income securities and may use relative-value trading and fixed-income derivatives.

Why people hold it

• 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.

• OACP The screening is a gate, not a garnish: the adviser buys a bond only if it clears both the investment case and the values-based criteria.oneascent.com
• "Core plus" is literal here. Treasuries, corporates and securitized debt form the base, with room for below-investment-grade, non-US dollar and emerging market bonds.oneascent.com
• Day-to-day security selection is outsourced to a sub-adviser picked for scale, sector depth and embedded risk controls; OneAscent's launch materials tie the fund to Nuveen.oneascent.comoneascent.com 2
• The values mandate shows up in the portfolio itself, not just the brochure: holdings line up closely with the income-plus-impact strategy the fund advertises.

Worth knowing

• 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.

• OACP Screening plus active management costs money. The fee sits well above the core-bond ETF median and is a multiple of index staples like BND, SPAB and SCHZ.oneascent.com
• By design the screens shrink the opportunity set. The issuer says results may differ from decisions made on investment merit alone, so expect divergence from a plain Agg fund.oneascent.com
• Small by core-bond standards and only moderately traded, so spreads can run wider than the mega index trackers, especially on large or rushed orders.

Full IUSB profile⁠

Full OACP profile⁠