BNDCvsSPABETF Comparison
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Northern Trust Core Bond ETF (BNDC) and State Street SPDR Portfolio Aggregate Bond ETF (SPAB) belong to the same industry segment: US Aggregate Bonds. BNDC's top 3 sector exposures are Finance, Sovereign and Industrials. In contrast, SPAB's top sector exposures are Sovereign, Finance and Industrials. BNDC is more expensive with a Total Expense Ratio (TER) of 0.49%, versus 0.03% for SPAB. BNDC is down -1.92% year-to-date (YTD) with +$27M in YTD flows. SPAB performs better with -1.59% YTD performance, and +$1.49B in YTD flows. Run a side-by-side ETF comparison of BNDC and SPAB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BNDC vs SPAB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BNDC SPAB | -0.17%-0.13% | -1.84%-1.82% | -1.92%-1.59% | -1.81%-1.39% | +14.35%+14.92% | -3.54%-1.86% |
| Flows | BNDC SPAB | -$1M+$456M | +$2M+$784M | +$27M+$1.49B | +$30M+$1.99B | -$26M+$3.50B | +$75M+$5.10B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BNDC SPAB | +4.20%+4.38% | +3.78%+3.87% | +5.19%+4.98% | +6.19%+5.98% |
| Max drawdown | BNDC SPAB | -3.28%-3.30% | -5.02%-4.68% | -5.26%-4.87% | -17.95%-17.44% |
| Max drawdown duration | BNDC SPAB | 51d51d | 228d228d | 318d284d | 1801d1556d |
Trading data
BNDC | SPAB | |
Last sale 10/16/2026 at 1:30 PM | $21.30 | $24.59 |
| Previous close 10/15/2026 | $21.31 | $24.59 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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BNDC
is actively managed and doesn’t replicate an indexBNDC | SPAB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
BNDC | SPAB | |
|---|---|---|
| Last price | $21.30 | $24.59 |
| 1D performance | -0.05% | +0.00% |
| AuM | $165.45 M | $10.34 B |
| E/R | 0.49% | 0.03% |
Characteristics
BNDC | SPAB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Northern Trust | State Street Investment Management |
| Benchmark | - | Bloomberg US Aggregate Bond Index |
| N° of holdings | 7786 | 6931 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 21, 2016 | May 23, 2007 |
| ESG | No | No |
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Exposure
Countries
BNDC
USA
59.17%
Other
40.83%
SPAB
USA
74.49%
Other
25.51%
Sectors
BNDC
Finance
25.86%
Sovereign
11%
Other
63.14%
SPAB
Sovereign
45.89%
Finance
10.21%
Industrials
9.47%
Other
34.43%
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Diversification
BNDC
Total weight of top 15 holdings out of 15
4.72%
SPAB
Total weight of top 15 holdings out of 15
6.59%
Top 15 holdings
Data as of August 31, 2026
BNDC
USA, Bills 0% 15oct2026, USD (182D)
0.78%
BlackRock Cash Funds - Institutional
0.71%
USA, Notes 1.375% 15nov2031, USD (F-2031)
0.54%
US01F0626972
0.31%
USA, Notes 2.625% 15feb2029, USD (B-2029)
0.30%
Walt Disney, FRN 14mar2029, USD
0.28%
US01F0406938
0.25%
US36180AAK97
0.23%
US3132CYFK10
0.23%
USA, Notes 3.125% 15nov2028, USD (F-2028)
0.21%
Merck & Co, FRN 15mar2029, USD
0.20%
USA, Notes 2.75% 15feb2028, USD (B-2028)
0.20%
Bank of America Corporation, FRN 9may2029, USD (N)
0.17%
US31427QCF72
0.17%
USA, Notes 2.875% 15may2028, USD (C-2028)
0.17%
SPAB
USA, Notes 3.5% 15dec2028, USD (AV-2028)
0.74%
US91282CRJ26
0.58%
USA, Notes 3.625% 31dec2030, USD (AH-2030)
0.55%
US01F0526982
0.50%
USA, Notes 3.375% 30nov2027, USD (BL-2027)
0.45%
USA, Notes 4.375% 30nov2028, USD (AG-2028)
0.41%
USA, Notes 3.5% 31jan2028, USD (U-2028)
0.41%
USA, Notes 3.875% 31mar2031, USD (W-2031)
0.40%
US01F0506927
0.38%
USA, Notes 3.375% 31dec2027, USD (BM-2027)
0.37%
USA, Notes 4.25% 15nov2034, USD (F-2034)
0.37%
USA, Notes 4.25% 15aug2035, USD (E-2035)
0.37%
USA, Notes 3.625% 30sep2031, USD (Q-2031)
0.36%
USA, Notes 4% 15feb2034, USD (B-2034)
0.35%
USA, Notes 4% 30jun2032, USD (M-2032)
0.35%
Frequently asked questions about BNDC and SPAB
How have the BNDC and SPAB ETFs performed in 2026?
As of October 15, 2026, BNDC is down -1.92% year-to-date (YTD), while SPAB has lost -1.59%. That puts SPAB better performer ahead so far this year.
Which ETF is attracting more investor money: BNDC or SPAB?
Year-to-date, the BNDC ETF saw +$27M in flows, compared to +$1.49B for SPAB.
Which ETF is more volatile: BNDC or SPAB?
Over the past year, BNDC had a volatility of 3.78%, while SPAB experienced 3.87%.
Which ETF is bigger: BNDC or SPAB?
As of October 15, 2026, BNDC holds $165.45 M in assets under management (AUM), while SPAB manages $10.34 B.
What sectors do the BNDC and SPAB ETFs invest in?
BNDC leans toward sectors like Finance and Sovereign. Meanwhile, SPAB focuses on Sovereign, Finance and Industrials.
What are the top holdings of the BNDC ETF and SPAB ETF?
BNDC top holdings include USA, Bills 0% 15oct2026, USD (182D), BlackRock Cash Funds - Institutional and USA, Notes 1.375% 15nov2031, USD (F-2031). SPAB holds in its top three: USA, Notes 3.5% 15dec2028, USD (AV-2028), US91282CRJ26 and USA, Notes 3.625% 31dec2030, USD (AH-2030).
Which ETF is more diversified: BNDC or SPAB?
BNDC holds 16485 securities with 4.72% of its assets in the top 15. SPAB has 8475 securities and a top 15 weight of 6.59%.
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