ALLW vs. BND

Last updated Jun 14, 2026

ALLW (State Street Bridgewater All Weather ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - ALLW is a Tactical Allocation fund actively managed by State Street, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. ALLW is actively managed, while BND is passively managed. Over the past year, ALLW returned 19.67% vs 4.77% for BND. A 0.61 correlation means they provide meaningful diversification when combined. ALLW charges 0.85%/yr vs 0.03%/yr for BND.

Performance

ALLW vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Bridgewater All Weather ETF (ALLW) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALLW achieves a 7.24% return, which is significantly higher than BND's 0.52% return.

ALLW

• 1D: 0.10%
• 1M: -0.30%
• YTD: 7.24%
• 6M: 7.64%
• 1Y: 19.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BND

• 1D: -0.12%
• 1M: 1.03%
• YTD: 0.52%
• 6M: 0.91%
• 1Y: 4.77%
• 3Y*: 4.17%
• 5Y*: 0.03%
• 10Y*: 1.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALLW vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025
ALLW State Street Bridgewater All Weather ETF	7.24%	15.44%
BND Vanguard Total Bond Market ETF	0.52%	4.63%

Correlation

The correlation between ALLW and BND is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025	0.61

The correlation between ALLW and BND has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.

Return for Risk

ALLW vs. BND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALLW

ALLW Risk / Return Rank: 62
ALLW Sharpe Ratio Rank: 61
ALLW Sortino Ratio Rank: 57
ALLW Omega Ratio Rank: 62
ALLW Calmar Ratio Rank: 61
ALLW Martin Ratio Rank: 68

BND

BND Risk / Return Rank: 37
BND Sharpe Ratio Rank: 38
BND Sortino Ratio Rank: 38
BND Omega Ratio Rank: 35
BND Calmar Ratio Rank: 37
BND Martin Ratio Rank: 35

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.

ALLW vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Bridgewater All Weather ETF (ALLW) and Vanguard Total Bond Market ETF (BND). 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.

	ALLW	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.18	+0.58
Sortino ratio: Return per unit of downside risk	2.38	1.77	+0.61
Omega ratio: Gain probability vs. loss probability	1.33	1.21	+0.12
Calmar ratio: Return relative to maximum drawdown	2.67	1.65	+1.02
Martin ratio: Return relative to average drawdown	10.87	4.81	+6.06

ALLW vs. BND - Sharpe Ratio Comparison

The current ALLW Sharpe Ratio is 1.77, which is higher than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of ALLW and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALLW vs. BND - Drawdown Comparison

The maximum ALLW drawdown since its inception was -8.78%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for ALLW and BND.

Drawdown Indicators

	ALLW	BND	Difference
Max Drawdown Largest peak-to-trough decline	-8.78%	-18.58%	+9.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-2.68%	-4.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-2.58%	-2.12%	-0.46%
Average Drawdown Average peak-to-trough decline	-1.23%	-3.06%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	0.92%	+0.85%

Volatility

ALLW vs. BND - Volatility Comparison

State Street Bridgewater All Weather ETF (ALLW) has a higher volatility of 4.39% compared to Vanguard Total Bond Market ETF (BND) at 1.28%. This indicates that ALLW's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALLW	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	1.28%	+3.11%
Volatility (6M) Calculated over the trailing 6-month period	9.23%	2.74%	+6.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.93%	3.75%	+7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.72%	6.03%	+6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.72%	5.53%	+7.19%

ALLW vs. BND - Expense Ratio Comparison

ALLW has a 0.85% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

ALLW vs. BND - Dividend Comparison

ALLW's dividend yield for the trailing twelve months is around 4.36%, more than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALLW State Street Bridgewater All Weather ETF	4.36%	4.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%

Frequently Asked Questions

Can I hold both ALLW and BND in my portfolio?

ALLW and BND have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALLW or BND?

ALLW has higher volatility (4.39%) compared to BND (1.28%). In terms of maximum drawdown, ALLW dropped -8.78% vs BND's -18.58%.

Which ETF is better, ALLW or BND?

On 1-year performance, ALLW leads with 19.67% vs 4.77% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALLW or BND?

Over the 1-year period, ALLW has performed better with a 19.67% return vs 4.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALLW or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.85% for ALLW.

Which ETF pays a higher dividend yield, ALLW or BND?

ALLW has the higher dividend yield at 4.36%, compared with 3.96% for BND.

What is the main difference between ALLW and BND?

ALLW is categorized as Tactical Allocation, while BND is Total Bond Market. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.85% for ALLW and 0.03% for BND.

Which has better risk-adjusted returns?

ALLW currently has the higher Sharpe Ratio (1.77 vs 1.18), 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.