TMSFvsNCPBETF Comparison
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T. Rowe Price Multi-Sector Income ETF (TMSF) and Nuveen Core Plus Bond ETF (NCPB) belong to the same industry segment: Intl Aggregate Bonds. TMSF's top 3 sector exposures are Sovereign, Finance and Industrials. In contrast, NCPB's top sector exposures are Sovereign, Industrials and Finance. TMSF is more expensive with a Total Expense Ratio (TER) of 0.37%, versus 0.31% for NCPB. TMSF is up 2.79% year-to-date (YTD) with +$33M in YTD flows. NCPB performs worse with 0.42% YTD performance, and -$15K in YTD flows. Run a side-by-side ETF comparison of TMSF and NCPB 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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TMSF vs NCPB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMSF NCPB | +0.64%+0.50% | +0.65%-0.31% | +2.79%+0.42% | n/a+3.24% | n/an/a | n/an/a |
| Flows | TMSF NCPB | -- | +$30M-$2M | +$33M-$15K | -+$617K | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSF NCPB | +1.95%+3.60% | n/a+3.48% | n/an/a | n/an/a |
| Max drawdown | TMSF NCPB | -0.60%-1.59% | n/a-2.76% | n/an/a | n/an/a |
| Max drawdown duration | TMSF NCPB | 29d63d | n/a183d | n/an/a | n/an/a |
Trading data
TMSF | NCPB | |
Last sale 9/2/2026 at 1:30 PM | $49.91 | $24.43 |
| Previous close 09/01/2026 | $49.88 | $24.42 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
TMSF | NCPB | |
|---|---|---|
| Last price | $49.91 | $24.43 |
| 1D performance | +0.07% | +0.05% |
| AuM | $58.63 M | $55.32 M |
| E/R | 0.37% | 0.31% |
Characteristics
TMSF | NCPB | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Nuveen |
| Benchmark | - | - |
| N° of holdings | 223 | 375 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | March 5, 2024 |
| ESG | No | No |
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Exposure
Countries
TMSF
USA
57.54%
Other
42.46%
NCPB
USA
61.44%
Other
38.57%
Sectors
TMSF
Sovereign
21.68%
Finance
16.5%
Other
61.81%
NCPB
Sovereign
21.6%
Industrials
17.23%
Finance
15.84%
Other
45.34%
Diversification
TMSF
Total weight of top 15 holdings out of 15
21.01%
NCPB
Total weight of top 15 holdings out of 15
23.85%
Top 15 holdings
Data as of July 31, 2026
TMSF
USA, Notes 4% 31may2028, USD (BC-2028)
5.14%
USA, TIPS 1.875% 15jan2036, USD (A-2036)
4.14%
US87283Q8832
2.11%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
1.47%
Mexico, Bonos 8.5% 28feb2030, MXN
1.34%
Colombia, 5.375% 21jan2029, USD
1.03%
USA, Bonds 5% 15may2046, USD
0.72%
Brazil, 6.625% 15mar2035, USD
0.71%
USA, Bonds 5% 15may2056, USD
0.68%
Ecuador, 8.75% 29jan2034, USD
0.68%
Paraguay, 2.739% 29jan2033, USD
0.64%
Carvana, 14% 1jun2031, USD
0.63%
Afreximbank, 6.25% 23jan2032, USD
0.62%
JP Morgan, 0.5% 15jun2027, USD (A, Conv.)
0.56%
Civitas Resources, 9.625% 15jun2033, USD
0.54%
NCPB
USA, Bonds 4.625% 15nov2044, USD
4.31%
USA, Bonds 4.75% 15may2055, USD
3.92%
USA, Bonds 5% 15may2046, USD
1.85%
US3140W0GF64
1.74%
USA, Notes 3.5% 28feb2031, USD (V-2031)
1.39%
FR SD8256, 4% 1oct2052, USD (ABS)
1.34%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.17%
FN MA5165, 5.5% 1oct2053, USD (ABS)
1.11%
FR SD8231, 4.5% 1jul2052, USD (ABS)
1.10%
Bank of America Corporation, 5.162% 24jan2031, USD (N)
1.08%
JP Morgan, 4.851% 25jul2028, USD
1.04%
FN MA4684, 4.5% 1jun2052, USD (ABS)
1.03%
US31418EGJ38
0.98%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.89%
FN MA5331, 5.5% 1apr2054, USD (ABS)
0.89%
Frequently asked questions about TMSF and NCPB
How have the TMSF and NCPB ETFs performed in 2026?
As of August 31, 2026, TMSF is up 2.79% year-to-date (YTD), while NCPB has returned 0.42%. That puts TMSF better performer ahead so far this year.
Which ETF is attracting more investor money: TMSF or NCPB?
Year-to-date, the TMSF ETF saw +$33M in flows, compared to -$15K for NCPB.
Which ETF is bigger: TMSF or NCPB?
As of August 31, 2026, TMSF holds $58.63 M in assets under management (AUM), while NCPB manages $55.32 M.
What sectors do the TMSF and NCPB ETFs invest in?
TMSF leans toward sectors like Sovereign and Finance. Meanwhile, NCPB focuses on Sovereign, Industrials and Finance.
What are the top holdings of the TMSF ETF and NCPB ETF?
TMSF top holdings include USA, Notes 4% 31may2028, USD (BC-2028), USA, TIPS 1.875% 15jan2036, USD (A-2036) and US87283Q8832. NCPB holds in its top three: USA, Bonds 4.625% 15nov2044, USD, USA, Bonds 4.75% 15may2055, USD and USA, Bonds 5% 15may2046, USD.
Which ETF is more diversified: TMSF or NCPB?
TMSF holds 286 securities with 21.01% of its assets in the top 15. NCPB has 475 securities and a top 15 weight of 23.85%.
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