IUSB vs UBND: Grades, Fees and Holdings Compared

iShares Core Universal USD Bond ETF

IUSBANasdaq

VictoryShares Core Plus Bond ETF

UBNDBNasdaq

Overlap

No data

Expense ratio

IUSB −0.34pt a year

IUSB0.06%UBND0.40%

Avg volume · 30D

IUSB 15.4×the volume

IUSB6.13MUBND398K

5Y return · a year

UBND +0.6pt

IUSB+0.2%UBND+0.8%

IUSB vs UBND Performance

Oct 29, 2021 – Oct 30, 2026

+0.9%IUSB+4.1%UBND

Expense ratio: IUSB 0.06%, better; UBND 0.40%
Fund size: IUSB $50.2B; UBND $1.97B
1Y total return: IUSB 0.0%; UBND +0.1%, better
Yield (12M): IUSB 4.32%; UBND 5.03%, better
Holdings: IUSB 18280; UBND 1608
Avg volume (30D): IUSB 6.13M sh, better; UBND 398K sh
NAV per share: IUSB $44.91; UBND $21.04
52W range

ETF.net Grade

Pillar letters and Scores for IUSB, UBND, with each pillar’s weight
Pillar	IUSB	UBND
Cost30% weight	A92Higher	D36
Mission25% weight	A100	A100
Risk15% weight	C54	B56Higher
Tradability15% weight	A89Higher	A70
Holdings10% weight	A76	A79Higher
Durability5% weight	A94Higher	B68

Rank among US Aggregate Bond funds

How we build Categories ›

Same Category. IUSB and UBND 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 UBND 43rd 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 43BJHCRJohn Hancock Core Bond ETFScore 66
Rank 43BUBNDVictoryShares Core Plus Bond ETFScore 66
Rank 45BJCPBJPMorgan Core Plus Bond ETFScore 65

Our read on each fund

ETF.net Research

IUSBAiShares Core Universal USD Bond ETF

UBNDBVictoryShares 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.

UBND A core-plus bond fund parked in an aisle full of three-basis-point index trackers. It hunts high current income without a benchmark to hug, spreads the risk across more than a thousand bonds, and pays monthly.

Stated mandate

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

UBND The Fund seeks high current income while limiting undue risk to principal.

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.

UBND Income is the stated job: the prospectus asks for high current income while limiting undue risk to principal, and the fund's behavior has stayed close to that mandate.
Diversification is broad for a bond fund, spread over more than a thousand positions, with cash paid out monthly rather than quarterly.
Scale is real: a multi-billion-dollar fund with steady day-to-day trading, and it sits in the upper half of a crowded core bond field.

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.

UBND At 0.45%, it runs above the category median and well above index rivals like BND and SCHZ at 0.03%. The fee buys manager discretion, not index replication.
No declared index means no benchmark to shadow. Sector and credit calls drive the outcome, so behavior can diverge from a plain aggregate tracker.
Launched in 2021, so its track record is shorter than the decades-old core bond funds it shares shelf space with.

Full IUSB profile⁠

Full UBND profile⁠

IUSB vs UBND Holdings

How IUSB and UBND differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile94.3%
Asset classFixed Income100%

Sector

No Sector split for UBND.

Country, concentration and asset class

Country by domicile

Country weights in IUSB and UBND, widest gap first
Country	More in IUSBMore in UBND	IUSB	UBND
United States	UBND +5.2 points	88.1%	93.3%
Cayman Islands	IUSB +1.1 points	3.1%	2.0%
Other countries (38)	IUSB +4.1 points	8.8%	4.7%

Concentration

Weight in the 10 largest Holdings

IUSB8.1%
UBND8.5%

Securities held

IUSB17,809
UBND1,573

Asset class

IUSB: Fixed Income
UBND: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. IUSB holds 17,809 securities, UBND 1,573.

All 18,365 IUSB holdings⁠All 1,110 UBND 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 UBND Cost

Overpaying UBND vs IUSB

$6,820

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

IUSB 0.06%
$1,270
UBND 0.40%
$8,090

Amount$10,000

Years30 years

Cost over time

IUSB 0.06%
UBND 0.40%
Overpaying

Year by year

Year	IUSB	UBND	Overpaying
10	$110	$723	$613
20	$432	$2,793	$2,361
30	$1,270	$8,090	$6,820

Expense ratio

0.06%IUSB, cheaper
0.40%UBND

IUSB0.06%UBND0.40%

0.00%1.04%

Middle half of US Aggregate Bond funds
Median 0.34%

IUSB 10th cheapest of 114 funds

UBND 74th cheapest of 114 funds

IUSB vs UBND Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IUSB 4.32%; UBND 5.03%, better
Payout (12M): IUSB $1.94; UBND $1.06
Last payment: IUSB $0.15; UBND $0.10
Ex-dividend: IUSB Oct 1, 2026; UBND Oct 8, 2026
Paid on: IUSB Oct 6, 2026; UBND Oct 9, 2026
Frequency: IUSB Monthly; UBND Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

IUSBMonthly · 45 paymentsAll IUSB payments⁠

UBNDMonthly · 46 paymentsAll UBND payments⁠

IUSB vs UBND Risk

Fall from peak · 5 years

IUSB
UBND

Risk facts

VolatilityStd dev, 3 years: IUSB 5.5%UBND 5.4%, better
Return per unit of riskSharpe ratio, 3 years: IUSB 0.25UBND 0.30, better
Worst fallMax drawdown, 5 years: IUSB −17.4%UBND −16.6%, better
Market sensitivityBeta, 5 years: IUSB 0.96UBND 0.94; Market = 1

IUSB and UBND 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

IUSBAvsAGGA
iShares Core Universal USD Bond ETF · iShares Core U.S. Aggregate Bond ETF
Expense ratio
0.06% · 0.03%
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UBNDBvsAGGA
VictoryShares Core Plus Bond ETF · iShares Core U.S. Aggregate Bond ETF
Expense ratio
0.40% · 0.03%
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IUSBAvsSCHZA
iShares Core Universal USD Bond ETF · Schwab U.S. Aggregate Bond ETF
Expense ratio
0.06% · 0.03%
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UBNDBvsSCHZA
VictoryShares Core Plus Bond ETF · Schwab U.S. Aggregate Bond ETF
Expense ratio
0.40% · 0.03%
Category
IUSBAvsSPABA
iShares Core Universal USD Bond ETF · State Street SPDR Portfolio Aggregate Bond ETF
Expense ratio
0.06% · 0.03%
Category
UBNDBvsSPABA
VictoryShares Core Plus Bond ETF · State Street SPDR Portfolio Aggregate Bond ETF
Expense ratio
0.40% · 0.03%
Category

IUSB vs UBND

In short

Stated mandate

Why people hold it

Worth knowing

How IUSB and UBND differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

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 IUSB and UBND differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings