OACP vs SPAB

OACPCOneAscent Core Plus Bond ETF

SPABAState Street SPDR Portfolio 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.

SPAB A 2007-vintage core bond fund priced at 0.03%: roughly 8,500 US investment-grade bonds in one ticket, at the same rock-bottom fee the household names charge for the same index.

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.

SPAB The fund seeks to track the price and yield performance of the Bloomberg U.S. Aggregate Bond Index before fees and expenses, providing broad exposure to U.S.-dollar-denominated investment-grade bonds.

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.

• SPAB 0.03% a year against a 0.36% median for its peer group, and the same ticket price as AGG, SCHZ and BBAG on the identical index.
• Roughly 8,500 dollar-denominated investment-grade bonds in one line item, tracking the Bloomberg U.S. Aggregate Bond Index. Diversification you could not assemble bond by bond.ssga.com
• Trades actively and has tracked its index closely, putting it among the stronger implementations in the core-bond group.
• Running since 2007, now a multi-billion-dollar fund, and it pays monthly rather than quarterly.

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.

• SPAB Bond prices move opposite yields. When rates rise the index falls and the fund follows it down; a 0.03% fee cannot cushion that.
• AGG, SCHZ and BBAG hold the same declared index at the same 0.03%. Picking among them comes down to spreads and platform, not the portfolio.
• Investment grade and US dollar only by mandate: high yield and foreign-currency debt sit outside the remit.ssga.com

Full OACP profile⁠

Full SPAB profile⁠