OACP vs SCHZ

OACPCOneAscent Core Plus Bond ETF

SCHZASchwab U.S. Aggregate Bond ETF

In short

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.

SCHZ Schwab's core bond holding: the broad U.S. investment-grade bond market, over 10,000 issues deep, for 0.03% a year. That is the floor of a category whose median fee is more than ten times higher. Running since 2011, pays monthly.

Stated mandate

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.

SCHZ The fund seeks to track the total return of an index representing the broad U.S. investment-grade bond market.

Why people hold it

• 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.

• SCHZ 0.03% a year sits at the category floor, against a cohort median of 0.36%. Only a short list of aggregate-bond funds matches it, including AGG, BND and SPAB.
• Tracks the Bloomberg US Aggregate Bond Index tightly, one of the cleanest index implementations among the 187 funds in its peer group.schwabassetmanagement.com
• One ticker, thousands of investment-grade U.S. bonds, income paid monthly. The plumbing of a bond portfolio without buying a single bond yourself.
• Live since 2011 and now a multi-billion-dollar fund that trades actively, so trading costs on ordinary retail-sized orders tend to be minor.

Worth knowing

• 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.

• SCHZ This is duration exposure, not a cash substitute. Interest-rate moves, not credit selection, drive most of the ride, and that is the weakest part of its risk profile.
• Investment grade and U.S. only: no high-yield, no foreign bonds. Funds like BNDX cover the international side of the cohort.
• The aggregate-bond aisle is commoditized. Against AGG, BND and SPAB at the same 0.03%, the differences come down to index variant and where you already custody, not fee.

Full OACP profile⁠

Full SCHZ profile⁠