Fund Evaluator:
RBC BlueBay Core Plus Bond I (RCPIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
RBC BlueBay Core Plus Bond I Overview
RBC BlueBay Core Plus Bond I (RCPIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. RBC Global Asset Management. launched the fund in 2021.
The investment seeks to provide total return. The fund invests, under normal circumstances, at least 80% of its assets in fixed income securities. The fixed income securities in which the fund may invest include, but are not limited to, bonds, municipal securities, mortgage-related and asset-backed securities and obligations of U.S. and foreign governments and their agencies. The fund’s investment strategy is referred to as “Core Plus” because the advisor has the ability to add high yield securities and other securities to a core portfolio of investment grade fixed income securities that are generally representative of the Bloomberg U.S. Aggregate Bond Index.
About RBC BlueBay Core Plus Bond I (RCPIX)
There are 3 members of the management team with an average tenure of 3.98 years: Brian Svendahl (2021), Andrzej Skiba (2021), Neil Sun (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. RBC BlueBay Core Plus Bond I has 316 securities in its portfolio. The top 10 holdings constitute 21.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
RBC BlueBay Core Plus Bond I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. RBC BlueBay Core Plus Bond I has 15.5% 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 2.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 90.5% (75.0% domestic bond, 15.5% foreign bond and 0.0% convertible bond). RBC BlueBay Core Plus Bond I has 6.7% of the portfolio in cash.
Assets Under Management
The fund has $73 million in total assets, which is below the $1 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.
RCPIX 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 RBC BlueBay Core Plus Bond I expense ratio is average compared to funds in the Intermediate Core-Plus Bond category. RBC BlueBay Core Plus Bond I has an expense ratio of 0.46%, which is 41% lower than its category average, making the fund expense ratio grade a B. 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. RBC BlueBay Core Plus Bond I has a portfolio turnover rate of 842%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, RBC BlueBay Core Plus Bond I returned -1.6%, which earned it a grade of F, as the Intermediate Core-Plus Bond category had an average return of -1.3%. 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 funds in that category.
RBC BlueBay Core Plus Bond I has a trailing yield of 6.06%, which is above the 4.36% category average. The fund normally distributes its income monthly 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.
RBC BlueBay Core Plus Bond I Grades
Year to date, the fund has returned -1.2%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.2% over the past year (grade of A) and 5.9% over the past three years (grade of A).
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RCPIX 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 |
|
| RCPIX Return (NAV) | -1.6% | -1.2% | 3.2% | 5.9% | na | na |
| RCPIX Grade | F | F | A | A | na | na |
| +/- Category | -0.3% | -0.5% | 0.5% | 1.7% | na | na |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| RCPIX Tax Cost Ratio | na | na | 2.4% | 2.0% | na | na |
RCPIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RCPIX Return (NAV) | -1.2% | 8.2% | 6.0% | 9.6% | -13.9% | na | na | na | na | na | na |
| RCPIX Grade | F | A | A | A | C | na | na | na | na | na | na |
| +/- Category | -0.6% | 0.8% | 3.7% | 3.5% | -0.5% | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 6.0% |
| Total Risk Index: | 0.49 - Below Average |
| Category Risk Index: | 1.07 - High |
| Category Risk Grade: | F (85% Rank) |
| Beta: | 1.03 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 6.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $90 Mil |
| Fund Total Assets: | $ 73 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 842% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 4.0 years | |||
| Managers (Year): Svendahl Brian (2021), Skiba Andrzej (2021), Sun Neil (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 316 |
| % in Top 10 Holdings: | 21.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 15.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 2.8% |
| Domestic Bond: | 75.0% |
| Foreign Bond: | 15.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 6.7% |
Purchase Information
| Fund Family: | RBC Global Asset Management. |
| Phone Number: | 800-422-2766 |
| Website: | www.rbcgam.us |
| Status: | Open |
| Inception Date: | November 1, 2021 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.46% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | RBC BlueBay Core Plus Bond R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
