AVES vs. BND

Last updated Jun 13, 2026

AVES (Avantis Emerging Markets Value ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - AVES is a Emerging Markets Equities fund actively managed by Avantis, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. AVES is actively managed, while BND is passively managed. Over the past 3 years, AVES returned 19.19%/yr vs 4.17%/yr for BND. At a 0.19 correlation, their price movements are largely independent. AVES charges 0.36%/yr vs 0.03%/yr for BND.

Performance

AVES vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Value ETF (AVES) 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, AVES achieves a 15.51% return, which is significantly higher than BND's 0.52% return.

AVES

• 1D: 0.32%
• 1M: 0.25%
• YTD: 15.51%
• 6M: 18.20%
• 1Y: 29.85%
• 3Y*: 19.19%
• 5Y*: —
• 10Y*: —

BND

• 1D: -0.12%
• 1M: 0.42%
• YTD: 0.52%
• 6M: 0.91%
• 1Y: 4.40%
• 3Y*: 4.17%
• 5Y*: 0.03%
• 10Y*: 1.58%

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

AVES vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	15.51%	30.49%	4.50%	16.79%	-16.04%	0.95%
BND Vanguard Total Bond Market ETF	0.52%	7.08%	1.38%	5.65%	-13.11%	-0.06%

Correlation

The correlation between AVES and BND is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.19

The correlation between AVES and BND shifts across timeframes, from 0.19 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AVES vs. BND — Risk / Return Rank

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

AVES

AVES Risk / Return Rank: 54
AVES Sharpe Ratio Rank: 55
AVES Sortino Ratio Rank: 52
AVES Omega Ratio Rank: 58
AVES Calmar Ratio Rank: 53
AVES Martin Ratio Rank: 55

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.

AVES vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) 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.

	AVES	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.18	+0.45
Sortino ratio: Return per unit of downside risk	2.22	1.77	+0.44
Omega ratio: Gain probability vs. loss probability	1.31	1.21	+0.10
Calmar ratio: Return relative to maximum drawdown	2.32	1.65	+0.67
Martin ratio: Return relative to average drawdown	8.40	4.81	+3.59

AVES vs. BND - Sharpe Ratio Comparison

The current AVES Sharpe Ratio is 1.64, which is higher than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of AVES 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

AVES vs. BND - Drawdown Comparison

The maximum AVES drawdown since its inception was -27.40%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for AVES and BND.

Drawdown Indicators

	AVES	BND	Difference
Max Drawdown Largest peak-to-trough decline	-27.40%	-18.58%	-8.82%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-2.68%	-10.22%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-5.92%	-12.58%
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	-2.45%	-2.12%	-0.33%
Average Drawdown Average peak-to-trough decline	-7.70%	-3.06%	-4.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	0.92%	+2.64%

Volatility

AVES vs. BND - Volatility Comparison

Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 8.89% compared to Vanguard Total Bond Market ETF (BND) at 1.28%. This indicates that AVES'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

	AVES	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.89%	1.28%	+7.61%
Volatility (6M) Calculated over the trailing 6-month period	15.88%	2.74%	+13.14%
Volatility (1Y) Calculated over the trailing 1-year period	18.34%	3.75%	+14.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	6.03%	+11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	5.53%	+11.67%

AVES vs. BND - Expense Ratio Comparison

AVES has a 0.36% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

AVES vs. BND - Dividend Comparison

AVES's dividend yield for the trailing twelve months is around 3.53%, less than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVES Avantis Emerging Markets Value ETF	3.53%	3.17%	4.09%	3.96%	3.70%	0.62%	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 AVES and BND in my portfolio?

AVES and BND have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVES or BND?

AVES has higher volatility (8.89%) compared to BND (1.28%). In terms of maximum drawdown, AVES dropped -27.40% vs BND's -18.58%.

Which ETF is better, AVES or BND?

On 3-year performance, AVES leads with 19.19% vs 4.17% 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, AVES or BND?

Over the 3-year period, AVES has performed better with a 19.19% return vs 4.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVES or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.36% for AVES.

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

BND has the higher dividend yield at 3.96%, compared with 3.53% for AVES.

What is the main difference between AVES and BND?

AVES is categorized as Emerging Markets Equities, while BND is Total Bond Market. They also come from different issuers: Avantis and Vanguard. Their fees differ too: 0.36% for AVES and 0.03% for BND.

Which has better risk-adjusted returns?

AVES currently has the higher Sharpe Ratio (1.64 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.