How many nontraditional bond ETFs are there?

MetaCap tracks 5 US-listed nontraditional bond ETFs with about $4.1B in combined assets.

What is the largest nontraditional bond ETF?

First Trust Smith Unconstrained Bond ETF (UCON) is the largest, with about $3.2B in assets under management.

Which Nontraditional Bond ETF has the lowest expense ratio?

Among the funds shown, WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has the lowest expense ratio at 0.43% per year, or $43 a year on a $10,000 investment.

What does AUM mean for an ETF?

Assets under management (AUM) is the total market value of everything the fund holds. Larger ETFs tend to have tighter bid-ask spreads and more trading volume, but size alone does not make a fund a better investment.

Nontraditional Bond ETFs

5 nontraditional bond ETFs ranked by assets under management. Updated October 9, 2026.

Total assets

$4.1B

MetaCap lists 5 US-listed ETFs in the Nontraditional Bond category, holding a combined $4.1B in assets. The largest by assets are UCON ($3.2B), RISR ($393.7M) and HYZD ($305.5M). Expense ratios range from 0.43% to 4.34% (median 0.86%); HYZD is the lowest-cost fund shown at 0.43% a year. On the latest trading day, 4 of 5 funds were higher, with an average move of +0.24%.

Summary generated from market data by MetaCap's automated system. Methodology

Largest nontraditional bond ETFs by assets

Nontraditional Bond ETFs by assets under management
#	Symbol	Fund Name	Price	% Change	AUM	Expense Ratio
1	UCON	First Trust Smith Unconstrained Bond ETF	23.86	+0.15%	$3.20B	0.86%
2	RISR	FolioBeyond Alternative Income and Interest Rate Hedge ETF	37.23	+0.05%	$393.67M	1.04%
3	HYZD	WisdomTree Interest Rate Hedged High Yield Bond Fund	22.37	-0.18%	$305.53M	0.43%
4	KNRG	Simplify Kayne Anderson Energy and Infrastructure Credit ETF	25.09	+0.17%	$149.64M	0.76%
5	HYIN	WisdomTree Private Credit and Alternative Income Fund	12.50	+1.03%	$47.06M	4.34%

Frequently asked questions

How many nontraditional bond ETFs are there?: MetaCap tracks 5 US-listed nontraditional bond ETFs with about $4.1B in combined assets.
What is the largest nontraditional bond ETF?: First Trust Smith Unconstrained Bond ETF (UCON) is the largest, with about $3.2B in assets under management.
Which Nontraditional Bond ETF has the lowest expense ratio?: Among the funds shown, WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) has the lowest expense ratio at 0.43% per year, or $43 a year on a $10,000 investment.
What does AUM mean for an ETF?: Assets under management (AUM) is the total market value of everything the fund holds. Larger ETFs tend to have tighter bid-ask spreads and more trading volume, but size alone does not make a fund a better investment.

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Prices as of Oct 9, 7:15 AM EDT. Market data is delayed at least 15 minutes and provided for informational purposes only. Not investment advice. Full disclaimer