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 less expensive with a Total Expense Ratio (TER) of 0.37%, versus 0.63% for NCPB. TMSF is up 1.47% year-to-date (YTD) with +$34M in YTD flows. NCPB performs worse with -1.34% YTD performance, and +$1M 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 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMSF NCPB | -0.52%-0.53% | -0.97%-2.03% | +1.47%-1.34% | n/a-0.85% | n/an/a | n/an/a |
| Flows | TMSF NCPB | +$1M+$1M | +$1M+$1M | +$34M+$1M | -+$2M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMSF NCPB | +2.85%+4.21% | n/a+3.67% | n/an/a | n/an/a |
| Max drawdown | TMSF NCPB | -2.32%-3.43% | n/a-4.39% | n/an/a | n/an/a |
| Max drawdown duration | TMSF NCPB | 51d51d | n/a228d | n/an/a | n/an/a |
Trading data
TMSF | NCPB | |
Last sale 10/16/2026 at 1:30 PM | $48.98 | $23.95 |
| Previous close 10/15/2026 | $49.01 | $23.94 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
TMSF | NCPB | |
|---|---|---|
| Last price | $48.98 | $23.95 |
| 1D performance | -0.07% | +0.05% |
| AuM | $58.83 M | $55.08 M |
| E/R | 0.37% | 0.63% |
Characteristics
TMSF | NCPB | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | Nuveen |
| Benchmark | - | - |
| N° of holdings | 220 | 369 |
| 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
53.64%
Other
46.36%
NCPB
USA
59.61%
Other
40.39%
Sectors
TMSF
Sovereign
18.95%
Finance
15.53%
Other
65.52%
NCPB
Sovereign
21.44%
Industrials
16.89%
Finance
15.19%
Other
46.49%
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Diversification
TMSF
Total weight of top 15 holdings out of 15
18.27%
NCPB
Total weight of top 15 holdings out of 15
23.33%
Top 15 holdings
Data as of August 31, 2026
TMSF
USA, TIPS 1.875% 15jan2036, USD (A-2036)
4.11%
USA, Notes 4% 31may2028, USD (BC-2028)
2.44%
US87283Q8832
2.11%
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
1.46%
Mexico, Bonos 8.5% 28feb2030, MXN
1.36%
Colombia, 5.375% 21jan2029, USD
1.02%
USA, Bonds 5% 15may2046, USD
0.72%
Brazil, 6.625% 15mar2035, USD
0.71%
Ecuador, 8.75% 29jan2034, USD
0.69%
USA, Bonds 5% 15may2056, 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.)
0.55%
Civitas Resources, 9.625% 15jun2033, USD
0.54%
NCPB
USA, Bonds 4.625% 15nov2044, USD
4.32%
USA, Bonds 4.75% 15may2055, USD
3.92%
US3140W0GF64
1.73%
USA, Bonds 5% 15may2046, USD
1.67%
USA, Notes 3.5% 28feb2031, USD (V-2031)
1.39%
FR SD8256, 4% 1oct2052, USD (ABS)
1.33%
USA, Notes 4.375% 15may2036, USD (C-2036)
1.17%
FN MA5165, 5.5% 1oct2053, USD (ABS)
1.09%
FR SD8231, 4.5% 1jul2052, USD (ABS)
1.09%
FN MA4684, 4.5% 1jun2052, USD (ABS)
1.02%
US31418EGJ38
0.97%
JP Morgan, 4.851% 25jul2028, USD
0.97%
USA, Notes 4.125% 15feb2036, USD (B-2036)
0.89%
USA, Notes 4.125% 30apr2033, USD (K-2033)
0.89%
FN MA5331, 5.5% 1apr2054, USD (ABS)
0.88%
Frequently asked questions about TMSF and NCPB
How have the TMSF and NCPB ETFs performed in 2026?
As of October 15, 2026, TMSF is up 1.47% year-to-date (YTD), while NCPB has lost -1.34%. 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 +$34M in flows, compared to +$1M for NCPB.
Which ETF is bigger: TMSF or NCPB?
As of October 15, 2026, TMSF holds $58.83 M in assets under management (AUM), while NCPB manages $55.08 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, TIPS 1.875% 15jan2036, USD (A-2036), USA, Notes 4% 31may2028, USD (BC-2028) and US87283Q8832. NCPB holds in its top three: USA, Bonds 4.625% 15nov2044, USD, USA, Bonds 4.75% 15may2055, USD and US3140W0GF64.
Which ETF is more diversified: TMSF or NCPB?
TMSF holds 298 securities with 18.27% of its assets in the top 15. NCPB has 484 securities and a top 15 weight of 23.33%.
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