ETF Evaluator:
Frontier Asset Opportunistic Credit ETF ()
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(as of Aug 26)
Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 8.9% | Infrastructure Capital Bond Income ETF (BNDS) |
| 5.2% | Monarch Ambassador Income ETF (MAMB) |
| 4.1% | SanJac Alpha Core Plus Bond ETF (SJCP) |
| 4.1% | F/m Opportunistic Income ETF (ZHOG) |
| 3.9% | PIMCO Active Bond ETF (BOND) |
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ETF Details
Frontier Asset Opportunistic Credit ETF Overview
Frontier Asset Opportunistic Credit ETF (FOPC) is an actively managed Taxable Bond Intermediate Core-Plus Bond exchange-traded fund (ETF). Frontier Asset Management, LLC launched the ETF in 2024.
The investment seeks to provide high income consistent with the preservation of capital.
Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities. The fund generally expects to hold approximately six to twelve underlying ETFs. It is managed to achieve broad exposure to the U.S. investment-grade and non-investment grade fixed income securities market.
About Frontier Asset Opportunistic Credit ETF (FOPC)
There are 3 members of the management team with an average tenure of 1.61 years: Clifford Stanton (2024), Ali Toyran (2024) and Paul Wright (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Morningstar US Core Plus Bd TR USD index with a weighting of 100%. Frontier Asset Opportunistic Credit ETF has 9 securities in its portfolio. The top 10 holdings constitute 99.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Frontier Asset Opportunistic Credit ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Frontier Asset Opportunistic Credit ETF has 3.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.2% (93.4% domestic bond, 3.8% foreign bond and 0.2% convertible bond). Frontier Asset Opportunistic Credit ETF has 2.4% of the portfolio in cash.
Assets Under Management
The fund has $32 million in total assets, which is below the $2 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FOPC Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Frontier Asset Opportunistic Credit ETF expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. Frontier Asset Opportunistic Credit ETF has an expense ratio of 0.87%, which is 99% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Frontier Asset Opportunistic Credit ETF has a portfolio turnover rate of 25%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 157% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Frontier Asset Opportunistic Credit ETF returned -0.8%, which earned it a grade of A, as the Intermediate Core-Plus Bond category had an average return of -1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Frontier Asset Opportunistic Credit ETF has a trailing yield of 4.24%, which is below the 4.67% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Frontier Asset Opportunistic Credit ETF Grades
Year to date, the ETF has returned -0.1%, 0.2 percentage points better than the category, which translates into a grade of A. The fund has returned 2.8% over the past year (grade of D).
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FOPC Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FOPC Return (NAV) | -0.8% | -0.5% | 2.8% | na | na | na |
| FOPC Return (Price) | -1.0% | -0.5% | 2.8% | na | na | na |
| NAV +/- Price Return | 0.138% | 0.001% | 0.043% | na | na | na |
| Intermediate Core-Plus Bond Avg | -1.2% | -0.6% | 3.2% | 4.6% | 0.4% | 2.1% |
| FOPC Grade (NAV) | A | B | D | na | na | na |
| +/- Category (NAV) | 0.4% | 0.1% | -0.4% | na | na | na |
| FOPC Tax-Cost Ratio | na | na | 1.7% | na | na | na |
FOPC Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FOPC Return (NAV) | -0.1% | 6.6% | na | na | na | na | na | na | na | na | na |
| FOPC Return (Price) | -0.1% | 6.5% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.282% | -0.006% | na | na | na | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.2% | 7.5% | 3.0% | 6.6% | -13.2% | -0.7% | 8.0% | 9.8% | -0.2% | 4.3% | 4.9% |
| FOPC Grade (NAV) | A | F | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.2% | -0.9% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 4.2% |
| Total Assets: | $ 33 Mil |
| Share Class Assets: | $ 33 Mil |
| Turnover: | 25.0% |
| Expense Ratio: | 0.87% |
| Index Fund: | No |
| Index Tracked: | Morningstar US Core Plus Bd TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.6 years | |||
| Managers (Year): Stanton Clifford (2024), Toyran Ali (2024), Wright Paul (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 9 |
| % in Top 10 Holdings: | 99.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 3.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.3% |
| Domestic Bond: | 93.4% |
| Foreign Bond: | 3.8% |
| Convertible Bond: | 0.2% |
| Other: | -0.1% |
| Cash: | 2.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Frontier Asset Management, LLC |
| Phone Number: | 866-326-3837 |
| Website: | www.cipvt.com |
| Inception Date: | December 19, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.87% (Rating: High) |
| Category Average Expense Ratio (%): | 0.44% |
