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IUSB vs TPLS

iShares Core Universal USD Bond ETF

IUSBANasdaq

Thornburg Core Plus Bond ETF

TPLSCNasdaq

Overlap

No data

Expense ratio

IUSB −0.39pt a year

IUSB0.06%TPLS0.45%

Avg volume · 30D

IUSB 504.5×the volume

IUSB6.13MTPLS12.1K

IUSB vs TPLS Performance

Oct 31, 2025 – Oct 30, 2026

0.0%IUSB0.0%TPLS

Oct 31, 2025 to Oct 30, 2026. IUSB 0.0%. TPLS 0.0%. Use the arrow keys to read each point.−2%−1%1%2%Oct 2025Apr 2026Oct 2026
Expense ratio
IUSB 0.06%, better
TPLS 0.45%
Fund size
IUSB $50.2B
TPLS $20M
1Y total return
IUSB 0.0%
TPLS 0.0%
Yield (12M)
IUSB 4.32%
TPLS 4.94%, better
Holdings
IUSB 18280
TPLS 369
Avg volume (30D)
IUSB 6.13M sh, better
TPLS 12.1K sh
NAV per share
IUSB $44.91
TPLS $24.37
52W range

ETF.net Grade

IUSB: Cost 92, Risk 54, Mission 100, Tradability 89, Holdings 76, Durability 94. TPLS: Cost 24, Risk 61, Mission 97, Tradability 32, Holdings 53, Durability 31.
Pillar letters and Scores for IUSB, TPLS, with each pillar’s weight
PillarIUSBTPLS
Cost30% weightA92HigherF24
Mission25% weightA100HigherA97
Risk15% weightC54B61Higher
Tradability15% weightA89HigherD32
Holdings10% weightA76HigherC53
Durability5% weightA94HigherD31

Rank among US Aggregate Bond funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IUSB and TPLS 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 TPLS 78th of 114 funds in the US Aggregate Bond Category.

  1. Rank 1AAGGiShares Core U.S. Aggregate Bond ETFScore 87
  2. Rank 2AIUSBiShares Core Universal USD Bond ETFScore 86
  3. Rank 2ASCHZSchwab U.S. Aggregate Bond ETFScore 86
  4. Rank 78CMAGGMadison Aggregate Bond ETFScore 51
  5. Rank 78CTPLSThornburg Core Plus Bond ETFScore 51
  6. Rank 81CFIXTTCW Core Plus Bond ETFScore 50

Our read on each fund

ETF.net Research

IUSBAiShares Core Universal USD Bond ETF

TPLSCThornburg 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.

TPLS Thornburg's 2025 debut in the crowded aggregate-bond aisle, and it refuses to stay in the aisle: an active core-plus mandate that can wander into emerging market bonds, bank loans and structured debt, paying monthly.

Stated mandate

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

TPLS The fund invests in a diversified portfolio of fixed-income instruments, including emerging market bonds, bank loans, and loan participants.

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.
  • TPLS Core plus, and the plus is real: the mandate reaches past Treasuries and corporates into emerging market bonds, bank loans and loan participations.
  • Pays income at least monthly, so coupons arrive on a steady rhythm rather than a quarterly lump.
  • What it holds lines up closely with the wide-ranging mandate it advertises. No index-hugger wearing an active label.
  • Plain 1940 Act fund structure: ordinary ETF plumbing, 1099 at tax time, no partnership paperwork.

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.
  • TPLS The 0.45% fee is active-manager pricing in a category where index anchors like BND and SPAB charge 0.03%. The roaming mandate has to earn that gap.
  • Small and thinly traded, which tends to mean wider bid-ask spreads than the giants of the aggregate-bond group.
  • Launched in 2025, so the record is short. Thornburg also discloses that distributions can include return of capital, meaning part of a payout may be your own money back.

Full IUSB profile⁠

Full TPLS profile⁠

IUSB vs TPLS 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.

IUSB vs TPLS Cost

Overpaying TPLS vs IUSB

$7,771

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

  • IUSB 0.06%

    $1,270

  • TPLS 0.45%

    $9,041

$10,000
30 years

Cost over time

  • IUSB 0.06%
  • TPLS 0.45%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530TPLS $9,041IUSB $1,270

Year by year

YearIUSBTPLSOverpaying
10$110$812$702
20$432$3,128$2,696
30$1,270$9,041$7,771

Expense ratio

  • 0.06%IUSB, cheaper
  • 0.45%TPLS
  • Middle half of US Aggregate Bond funds
  • Median 0.34%

IUSB 10th cheapest of 114 funds

TPLS 84th cheapest of 114 funds

IUSB vs TPLS Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
IUSB 4.32%
TPLS 4.94%, better
Payout (12M)
IUSB $1.94
TPLS $1.21
Last payment
IUSB $0.15
TPLS $0.09
Ex-dividend
IUSB Oct 1, 2026
TPLS Oct 29, 2026
Paid on
IUSB Oct 6, 2026
TPLS Oct 30, 2026
Frequency
IUSB Monthly
TPLS Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IUSBMonthly · 45 paymentsAll IUSB payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.12; Mar 1, 2023 $0.12; Apr 3, 2023 $0.12; May 1, 2023 $0.13; Jun 1, 2023 $0.14; Jul 3, 2023 $0.13; Aug 1, 2023 $0.14; Sep 1, 2023 $0.13; Oct 2, 2023 $0.13; Nov 1, 2023 $0.14; Dec 1, 2023 $0.14; Dec 14, 2023 $0.15; Feb 1, 2024 $0.13; Mar 1, 2024 $0.15; Apr 1, 2024 $0.15; May 1, 2024 $0.15; Jun 3, 2024 $0.15; Jul 1, 2024 $0.15; Aug 1, 2024 $0.16; Sep 3, 2024 $0.16; Oct 1, 2024 $0.15; Nov 1, 2024 $0.16; Dec 2, 2024 $0.16; Dec 18, 2024 $0.16; Feb 3, 2025 $0.15; Mar 3, 2025 $0.16; Apr 1, 2025 $0.16; May 1, 2025 $0.16; Jun 2, 2025 $0.17; Jul 1, 2025 $0.16; Aug 1, 2025 $0.17; Sep 2, 2025 $0.16; Oct 1, 2025 $0.17; Nov 3, 2025 $0.16; Dec 1, 2025 $0.16; Dec 19, 2025 $0.16; Feb 2, 2026 $0.17; Mar 2, 2026 $0.16; Apr 1, 2026 $0.16; May 1, 2026 $0.16; Jun 1, 2026 $0.15; Jul 1, 2026 $0.16; Aug 3, 2026 $0.17; Sep 1, 2026 $0.17; Oct 1, 2026 $0.15. Use the arrow keys to read each point.$0$0.2020232026YTD
TPLSMonthly · 21 paymentsAll TPLS payments⁠
One bar per payment. 21 payments from 2023 to 2026 YTD. Feb 27, 2025 $0.08; Mar 28, 2025 $0.11; Apr 29, 2025 $0.09; May 29, 2025 $0.09; Jun 27, 2025 $0.09; Jul 30, 2025 $0.10; Aug 28, 2025 $0.09; Sep 29, 2025 $0.08; Oct 30, 2025 $0.10; Nov 26, 2025 $0.08; Dec 30, 2025 $0.18; Jan 29, 2026 $0.01; Feb 26, 2026 $0.09; Mar 30, 2026 $0.13; Apr 29, 2026 $0.11; May 28, 2026 $0.10; Jun 29, 2026 $0.10; Jul 30, 2026 $0.13; Aug 28, 2026 $0.09; Sep 29, 2026 $0.09; Oct 29, 2026 $0.09. Use the arrow keys to read each point.$0$0.2020232026YTD

IUSB vs TPLS Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IUSB 5.5%TPLS 4.4%since Mar 2025
Return per unit of riskSharpe ratio, 3 years
IUSB 0.25TPLS −0.38since Mar 2025
Worst fallMax drawdown, 5 years
IUSB −17.4%TPLS −4.8%since Feb 2025
Market sensitivityBeta, 5 years
IUSB 0.96TPLS 0.07

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