PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
ACWI vs. BNDX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ACWI vs. BNDX

Last updated Jun 13, 2026

ACWI (iShares MSCI ACWI ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - ACWI is a Global Equities fund tracking the MSCI All Country World Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, ACWI returned 13.02%/yr vs 1.72%/yr for BNDX. At a 0.03 correlation, their price movements are largely independent. ACWI charges 0.32%/yr vs 0.07%/yr for BNDX.

Performance

ACWI vs. BNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI ETF (ACWI) and Vanguard Total International Bond ETF (BNDX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, ACWI achieves a 10.59% return, which is significantly higher than BNDX's 1.02% return. Over the past 10 years, ACWI has outperformed BNDX with an annualized return of 13.02%, while BNDX has yielded a comparatively lower 1.72% annualized return.

ACWI

1D
0.41%
1M
-0.11%
YTD
10.59%
6M
11.34%
1Y
26.86%
3Y*
19.78%
5Y*
10.88%
10Y*
13.02%

BNDX

1D
0.17%
1M
0.85%
YTD
1.02%
6M
1.22%
1Y
2.27%
3Y*
4.32%
5Y*
0.32%
10Y*
1.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ACWI vs. BNDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ACWI
iShares MSCI ACWI ETF		10.59%22.41%17.45%22.27%-18.39%18.66%16.34%26.59%-9.19%24.33%
BNDX
Vanguard Total International Bond ETF		1.02%2.86%3.57%8.77%-12.76%-2.29%4.65%7.87%2.81%2.40%

Correlation

The correlation between ACWI and BNDX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.19

Correlation (10Y)
Calculated over the trailing 10-year period

0.08

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2013

0.03

Over the past year, ACWI and BNDX have become more correlated (0.42) than their long-term average of 0.03, meaning their price movements have been converging.

ACWI vs. BNDX - Sectors Allocation Comparison

Sectors
ACWI
BNDX

Technology

29.4%

-

Financial Services

16.1%
0.0%

Industrials

10.9%
0.0%

Consumer Cyclical

9.3%

-

Communication Services

9.0%
0.0%

Healthcare

8.1%
0.0%

Consumer Defensive

5.0%

-

Energy

4.2%
0.0%

Basic Materials

3.7%

-

Utilities

2.6%
0.0%

Real Estate

1.8%
0.0%

Technology

ACWI
29.4%
BNDX

-

Financial Services

ACWI
16.1%
BNDX
0.0%

Industrials

ACWI
10.9%
BNDX
0.0%

Consumer Cyclical

ACWI
9.3%
BNDX

-

Communication Services

ACWI
9.0%
BNDX
0.0%

Healthcare

ACWI
8.1%
BNDX
0.0%

Consumer Defensive

ACWI
5.0%
BNDX

-

Energy

ACWI
4.2%
BNDX
0.0%

Basic Materials

ACWI
3.7%
BNDX

-

Utilities

ACWI
2.6%
BNDX
0.0%

Real Estate

ACWI
1.8%
BNDX
0.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI ACWI ETF

Vanguard Total International Bond ETF

Often compared with ACWI:
ACWI vs. VTACWI vs. SPYACWI vs. VWRL.LACWI vs. ACWXACWI vs. ACWI.LACWI vs. VOOACWI vs. VTI
Often compared with BNDX:
BNDX vs. BNDBNDX vs. BNDWBNDX vs. VTABXBNDX vs. IAGGBNDX vs. FBIIXBNDX vs. IGOVBNDX vs. VWOB

Return for Risk

ACWI vs. BNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ACWI
ACWI Risk / Return Rank: 6767
Overall Rank
ACWI Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
ACWI Sortino Ratio Rank: 6666
Sortino Ratio Rank
ACWI Omega Ratio Rank: 6767
Omega Ratio Rank
ACWI Calmar Ratio Rank: 6161
Calmar Ratio Rank
ACWI Martin Ratio Rank: 7171
Martin Ratio Rank
BNDX
BNDX Risk / Return Rank: 1818
Overall Rank
BNDX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
BNDX Sortino Ratio Rank: 1818
Sortino Ratio Rank
BNDX Omega Ratio Rank: 1818
Omega Ratio Rank
BNDX Calmar Ratio Rank: 1818
Calmar Ratio Rank
BNDX Martin Ratio Rank: 1919
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACWI vs. BNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI ETF (ACWI) and Vanguard Total International Bond ETF (BNDX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ACWIBNDXDifference
Sharpe ratioReturn per unit of total volatility
1.90
0.56

+1.34

Sortino ratioReturn per unit of downside risk
2.62
0.82

+1.80

Omega ratioGain probability vs. loss probability

1.35

1.10

+0.24

Calmar ratioReturn relative to maximum drawdown

2.62

0.66

+1.96

Martin ratioReturn relative to average drawdown

11.46

1.84

+9.62

ACWI vs. BNDX - Sharpe Ratio Comparison

The current ACWI Sharpe Ratio is 1.90, which is higher than the BNDX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of ACWI and BNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

ACWI vs. BNDX - Drawdown Comparison

The maximum ACWI drawdown since its inception was -56.00%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for ACWI and BNDX.

Loading charts...

Drawdown Indicators

ACWIBNDXDifference

Max Drawdown

Largest peak-to-trough decline

-56.00%

-16.23%

-39.77%

Max Drawdown (1Y)

Largest decline over 1 year

-9.73%

-2.93%

-6.80%

Max Drawdown (3Y)

Largest decline over 3 years

-16.55%

-2.93%

-13.62%

Max Drawdown (5Y)

Largest decline over 5 years

-26.42%

-15.86%

-10.56%

Max Drawdown (10Y)

Largest decline over 10 years

-33.53%

-16.23%

-17.30%

Current Drawdown

Current decline from peak

-2.19%

-1.02%

-1.17%

Average Drawdown

Average peak-to-trough decline

-8.60%

-3.10%

-5.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.22%

1.05%

+1.17%

Volatility

ACWI vs. BNDX - Volatility Comparison

iShares MSCI ACWI ETF (ACWI) has a higher volatility of 5.17% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that ACWI's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

ACWIBNDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.17%

1.49%

+3.68%

Volatility (6M)

Calculated over the trailing 6-month period

11.09%

2.96%

+8.13%

Volatility (1Y)

Calculated over the trailing 1-year period

13.42%

3.47%

+9.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.15%

4.89%

+11.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.14%

4.10%

+13.04%

ACWI vs. BNDX - Expense Ratio Comparison

ACWI has a 0.32% expense ratio, which is higher than BNDX's 0.07% expense ratio.

Dividends

ACWI vs. BNDX - Dividend Comparison

ACWI's dividend yield for the trailing twelve months is around 1.40%, less than BNDX's 4.47% yield.

PositionTTM20252024202320222021202020192018201720162015
ACWI
iShares MSCI ACWI ETF		1.40%1.55%1.70%1.88%1.79%1.71%1.43%2.33%2.18%1.94%2.19%2.56%
BNDX
Vanguard Total International Bond ETF		4.47%4.39%4.18%4.42%1.51%3.74%1.11%3.40%3.01%2.23%1.89%1.63%

Frequently Asked Questions

ACWI and BNDX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ACWI has higher volatility (5.17%) compared to BNDX (1.49%). In terms of maximum drawdown, ACWI dropped -56.00% vs BNDX's -16.23%.

On 10-year performance, ACWI leads with 13.02% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ACWI has performed better with a 13.02% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BNDX is cheaper with a 0.07% expense ratio, compared with 0.32% for ACWI.

BNDX has the higher dividend yield at 4.47%, compared with 1.40% for ACWI.

ACWI is categorized as Global Equities, while BNDX is Global Bonds. ACWI tracks MSCI All Country World Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.32% for ACWI and 0.07% for BNDX.

ACWI currently has the higher Sharpe Ratio (1.90 vs 0.56), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for ACWI and BNDX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer