APCB vs GBND
ActivePassive Core Bond ETF vs Goldman Sachs Core Bond ETF
Which is better, APCB or GBND?
Nearly the same fund. GBND costs less.
GBND has a lower expense ratio. APCB led over 1Y, GBND over the full window. The two have moved almost in lockstep, correlation 0.99.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | APCB | GBND |
|---|---|---|
| Expense Ratio | 0.36% | 0.25%Best |
| AUM | $989M | $601M |
| Dividend Yield | 4.44% | 4.01% |
| Holdings | 3,770 | 747 |
| YTD Return | -2.08%Best | -2.40% |
| 1Y Return | -1.94%Best | -2.18% |
| 3Y Return (annualized) | +3.95% | - |
| Volatility (annualized) | 3.7%Best | 4.0% |
| Max Drawdown | -4.6%Best | -4.9% |
| $10,000 over 1.3 years | $10,073 | $10,090Best |
| Fund Family | Envestnet Asset Management | Goldman Sachs Asset Management |
| Category | Fixed Income | Fixed Income |
| Inception | May 3, 2023 | Jun 24, 2025 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight, Style.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 26, 2025 to Oct 14, 2026 (1.3 years).
APCB vs GBND growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.3 years both funds cover.
APCB vs GBND Performance
ActivePassive Core Bond ETF (APCB) is an ETF from Envestnet Asset Management and Goldman Sachs Core Bond ETF (GBND) is an ETF from Goldman Sachs Asset Management. Over the past year APCB returned -1.94% while GBND returned -2.18%. Year to date, APCB is down 2.08% versus a loss of 2.40% for GBND.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GBND has been the more volatile fund, with annualized monthly volatility of 4.0% compared with 3.7% for APCB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -4.6% for APCB and -4.9% for GBND. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
APCB charges 0.36% per year while GBND charges 0.25%. On a $10,000 position that is $36 vs $25 annually, a gap of $11 per year that compounds over a long holding period. On income, APCB currently yields 4.44% against 4.01% for GBND.
Holdings Overlap
We hold position weights for 1,221 holdings in APCB and 480 in GBND, totalling 75.9% and 52.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 46 positions appear in both.
46 positions in common, counted across the 1,221 positions we hold weights for in APCB and 480 in GBND, against full books of 3,770 and 747.
Top Shared Holdings
| Stock | Weight in APCB | Weight in GBND | Difference |
|---|---|---|---|
| T 4.5 11/15/54Treasury Bond (Otr) 4.5% Nov 15, 2054 | 0.13% | 2.32% | 2.19% |
| T 4.25 08/15/54Treasury Bond (Otr) 4.25% Aug 15, 2054 | 0.08% | 2.24% | 2.16% |
| BMO 2024-5C4 A3Bmo 2024-5C4 A3 | 0.09% | 0.31% | 0.22% |
| T 5 05/15/45Us Treas Bds 5% 05/15/45 | 0.02% | 0.38% | 0.36% |
| T 4 02/28/30Us Treasury 4.0% | 0.16% | 0.04% | 0.12% |
| T 4.625 04/30/29United States Treasury Note/Bond 2029-04-30 | 0.17% | 0.03% | 0.14% |
| HBAN V6.141 11/18/39Huntington Ba 6.141 11/39 | 0.05% | 0.13% | 0.08% |
| WCC 6.375 03/15/33 1Wesco International Inc 6.375 03/15/2033 | 0.01% | 0.15% | 0.14% |
| HOWARD 6.625 01/15/3Howard Midstream Energy Partners Llc 0.0663 01/15/2034 | 0.00% | 0.16% | 0.16% |
| BLDR 6.75 05/15/35 1Builders Firsts 6.75% 05/15/35 | 0.00% | 0.12% | 0.12% |
You are not choosing between two funds in isolation.
Whichever of APCB and GBND you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, APCB or GBND?
APCB has an expense ratio of 0.36% while GBND charges 0.25%. GBND is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, APCB or GBND?
Over the past year APCB returned -1.94% vs -2.18% for GBND, so APCB leads on 1-year performance. Over the longest common window we track (1 years), APCB annualized +0.56% vs +0.69% for GBND. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, APCB or GBND?
GBND has been the more volatile fund at 4.0% annualized versus 3.7% for APCB. Worst drawdown: APCB -4.6% vs GBND -4.9%.
Should I hold both APCB and GBND?
APCB and GBND have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, APCB or GBND?
APCB yields 4.44% while GBND yields 4.01%, so APCB currently pays the higher dividend yield.
Is GBND better than APCB?
GBND has a lower expense ratio. APCB led over 1Y, GBND over the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.