BND vs. BKAG
BND (Vanguard Total Bond Market ETF) and BKAG (BNY Mellon Core Bond ETF) are both Total Bond Market funds - BND tracks the Bloomberg U.S. Aggregate Float Adjusted Index while BKAG tracks the Bloomberg US Aggregate Total Return Index. Both are passively managed. Over the past 5 years, BND returned 0.02%/yr vs 0.01%/yr for BKAG. With a 0.97 correlation, they move nearly in lockstep. BND charges 0.03%/yr vs 0.00%/yr for BKAG.
Performance
BND vs. BKAG - Performance Comparison
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Returns By Period
In the year-to-date period, BND achieves a -0.05% return, which is significantly lower than BKAG's 0.03% return.
BND
- 1D
- -0.45%
- 1M
- -0.64%
- YTD
- -0.05%
- 6M
- 0.11%
- 1Y
- 4.33%
- 3Y*
- 3.80%
- 5Y*
- 0.02%
- 10Y*
- 1.56%
BKAG
- 1D
- -0.38%
- 1M
- -0.56%
- YTD
- 0.03%
- 6M
- 0.18%
- 1Y
- 4.52%
- 3Y*
- 3.85%
- 5Y*
- 0.01%
- 10Y*
- —
BND vs. BKAG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | -0.05% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 2.50% |
BKAG BNY Mellon Core Bond ETF | 0.03% | 7.23% | 1.17% | 5.67% | -13.29% | -1.46% | 2.15% |
Correlation
The correlation between BND and BKAG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2020 | 0.97 |
The correlation between BND and BKAG has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
BND vs. BKAG — Risk / Return Rank
BND
BKAG
BND vs. BKAG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and BNY Mellon Core Bond ETF (BKAG). 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.
| BND | BKAG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.65 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.86 | 4.82 | +0.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BND | BKAG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.18 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.00 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.00 | +0.58 |
Drawdowns
BND vs. BKAG - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, roughly equal to the maximum BKAG drawdown of -18.53%. Use the drawdown chart below to compare losses from any high point for BND and BKAG.
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Drawdown Indicators
| BND | BKAG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -18.53% | -0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.76% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -6.04% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -18.00% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -18.58% | — | — |
Current DrawdownCurrent decline from peak | -2.67% | -2.57% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -7.11% | +4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.94% | -0.05% |
Volatility
BND vs. BKAG - Volatility Comparison
Vanguard Total Bond Market ETF (BND) and BNY Mellon Core Bond ETF (BKAG) have volatilities of 1.23% and 1.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND | BKAG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.19% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.75% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.76% | 3.86% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 6.01% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 5.55% | -0.02% |
BND vs. BKAG - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is higher than BKAG's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BND vs. BKAG - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 3.98%, less than BKAG's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKAG BNY Mellon Core Bond ETF | 4.25% | 4.17% | 4.26% | 3.33% | 2.49% | 1.55% | 1.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BND Vanguard Total Bond Market ETF | 3.98% | 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
With a correlation of 0.97, BND and BKAG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BND has higher volatility (1.23%) compared to BKAG (1.19%). In terms of maximum drawdown, BND dropped -18.58% vs BKAG's -18.53%.
On 5-year performance, BND leads with 0.02% vs 0.01% for BKAG. On fees, BKAG is cheaper at 0.00% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BND has performed better with a 0.02% return vs 0.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKAG is cheaper with a 0.00% expense ratio, compared with 0.03% for BND.
BKAG has the higher dividend yield at 4.25%, compared with 3.98% for BND.
BND tracks Bloomberg U.S. Aggregate Float Adjusted Index, while BKAG tracks Bloomberg US Aggregate Total Return Index. They also come from different issuers: Vanguard and BNY Mellon. Their fees differ too: 0.03% for BND and 0.00% for BKAG.
BKAG currently has the higher Sharpe Ratio (1.18 vs 1.16), 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.
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