ETF Evaluator:
FlexShares Core Select Bond ETF (BNDC)
Follow This ETF
(as of Jul 31)
Best Performing in Intermediate Core Bond Over the Last Year
| 7.1% | Aptus Enhanced Yield ETF (JUCY) |
| 7.1% | Overlay Shares Core Bond ETF (OVB) |
| 6.8% | SGI Enhanced Core ETF (USDX) |
| 6.7% | Hartford Schroders Tax-Aware Bond ETF (HTAB) |
| 6.1% | Simplify Aggregate Bond ETF (AGGH) |
Risk
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Risk
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ETF Details
FlexShares Core Select Bond ETF Overview
FlexShares Core Select Bond ETF (BNDC) is an actively managed Taxable Bond Intermediate Core Bond exchange-traded fund (ETF). Flexshares Trust launched the ETF in 2016.
The investment seeks total return and preservation of capital.
The fund invests at least 80% of its net assets in U.S. dollar-denominated investment-grade fixed-income securities either directly or indirectly through exchange-traded funds and other registered investment companies. The fund may invest, without limitation, in mortgage- or asset-backed securities, including to-be-announced transactions, and purchase and sell securities on a when-issued, delayed delivery or forward commitment basis.
About FlexShares Core Select Bond ETF (BNDC)
There are 3 members of the management team with an average tenure of 2.70 years: Bilal Memon (2023), Benjamin Gord (2024) and Chaitanya (Chaitu) Mandavakuriti (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. FlexShares Core Select Bond ETF has 13 securities in its portfolio. The top 10 holdings constitute 99.5% 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.
FlexShares Core Select Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. FlexShares Core Select Bond ETF has 16.0% 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 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 94.6% (78.6% domestic bond, 16.0% foreign bond and 0.1% convertible bond). FlexShares Core Select Bond ETF has 5.4% of the portfolio in cash.
Assets Under Management
The fund has $169 million in total assets, which is below the $6 billion average for the Intermediate Core 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.
BNDC 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 FlexShares Core Select Bond ETF expense ratio is below average compared to funds in the Intermediate Core Bond category. FlexShares Core Select Bond ETF has an expense ratio of 0.35%, which is 9% higher than its category average, making the fund expense ratio grade a D. 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. FlexShares Core Select Bond ETF has a portfolio turnover rate of 23%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 100% for the Intermediate Core Bond category.
Recently, in the month of June 2026, FlexShares Core Select Bond ETF returned 0.3%, which earned it a grade of C, as the Intermediate Core Bond category had an average return of 0.2%. 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.
FlexShares Core Select Bond ETF has a trailing yield of 4.13%, which is below the 4.35% category average.
The fund normally distributes its income monthly.
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.
FlexShares Core Select Bond ETF Grades
Year to date, the ETF has returned 0.5%, 0.4 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.4% over the past year (grade of D), 3.9% over the past three years (grade of F) and -0.3% per year over the past five years (grade of F).
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BNDC Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BNDC Return (NAV) | 0.3% | 0.5% | 3.4% | 3.9% | -0.3% | na |
| BNDC Return (Price) | 0.3% | 0.3% | 3.4% | 3.9% | -0.3% | na |
| NAV +/- Price Return | -0.005% | 0.175% | 0.034% | 0.032% | 0.018% | na |
| Intermediate Core Bond Avg | 0.2% | 0.8% | 4.1% | 4.4% | 0.2% | 1.7% |
| BNDC Grade (NAV) | C | F | D | F | F | na |
| +/- Category (NAV) | 0.0% | -0.3% | -0.7% | -0.5% | -0.4% | na |
| BNDC Tax-Cost Ratio | na | na | 1.7% | 1.6% | 1.3% | na |
BNDC Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BNDC Return (NAV) | 0.5% | 7.2% | 0.9% | 5.3% | -13.6% | -1.8% | 8.8% | 9.3% | -1.3% | 3.9% | na |
| BNDC Return (Price) | 0.4% | 7.3% | 0.9% | 5.4% | -13.5% | -2.0% | 8.7% | 9.6% | -1.5% | 4.0% | na |
| NAV +/- Price Ret | -0.131% | 0.011% | -0.054% | 0.003% | -0.002% | 0.103% | -0.012% | 2.8% | 15.4% | 1.9% | na |
| Intermediate Core Bond Avg | 0.9% | 7.1% | 1.9% | 6.0% | -13.2% | -1.5% | 7.6% | 9.1% | -0.5% | 3.7% | 3.0% |
| BNDC Grade (NAV) | F | C | F | F | C | D | A | B | F | B | na |
| +/- Category | -0.4% | 0.1% | -1.0% | -0.6% | -0.4% | -0.3% | 1.2% | 0.2% | -0.8% | 0.2% | na |
| Risk Measures | |
| Beta: | 1.02 |
| R-Squared: | 100% |
| Standard Deviation: | 5.7% |
| Category Risk Index: | 1.04 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 0.47 |
| Total Risk Rating: | Low |
| Portfolio Characteristics | |
| Yield: | 4.1% |
| Total Assets: | $ 170 Mil |
| Share Class Assets: | $ 170 Mil |
| Turnover: | 23.0% |
| Expense Ratio: | 0.35% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 3.3 years | |||
| Average Tenure: 2.7 years | |||
| Managers (Year): Mandavakuriti Chaitanya (Chaitu) (2023), Memon Bilal (2023), Gord Benjamin (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 13 |
| % in Top 10 Holdings: | 99.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 78.6% |
| Foreign Bond: | 16.0% |
| Convertible Bond: | 0.1% |
| Other: | 0.0% |
| Cash: | 5.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Flexshares Trust |
| Phone Number: | 855-353-9383 |
| Website: | www.flexshares.com |
| Inception Date: | November 18, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.35% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.32% |
