BND vs. BOND
BND (Vanguard Total Bond Market ETF) and BOND (PIMCO Active Bond ETF) are both exchange-traded funds - BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while BOND is a Intermediate Core-Plus Bond fund actively managed by PIMCO. BND is passively managed, while BOND is actively managed. Over the past 10 years, BND returned 1.56%/yr vs 2.14%/yr for BOND. Their correlation of 0.85 suggests significant overlap in exposure. BND charges 0.03%/yr vs 0.54%/yr for BOND.
Performance
BND vs. BOND - 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 BOND's 0.09% return. Over the past 10 years, BND has underperformed BOND with an annualized return of 1.56%, while BOND has yielded a comparatively higher 2.14% annualized 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%
BOND
- 1D
- -0.57%
- 1M
- -0.71%
- YTD
- 0.09%
- 6M
- 0.37%
- 1Y
- 5.82%
- 3Y*
- 4.83%
- 5Y*
- 0.43%
- 10Y*
- 2.14%
BND vs. BOND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | -0.05% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
BOND PIMCO Active Bond ETF | 0.09% | 8.39% | 2.77% | 6.48% | -14.57% | -0.77% | 7.80% | 8.54% | 0.08% | 4.76% |
Correlation
The correlation between BND and BOND is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2012 | 0.85 |
The correlation between BND and BOND shifts across timeframes, from 0.85 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BND vs. BOND — Risk / Return Rank
BND
BOND
BND vs. BOND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and PIMCO Active Bond ETF (BOND). 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 | BOND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.26 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.94 | -0.31 |
| Martin ratioReturn relative to average drawdown | 4.86 | 6.12 | -1.26 |
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 | BOND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.48 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.07 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.42 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.63 | -0.04 |
Drawdowns
BND vs. BOND - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, smaller than the maximum BOND drawdown of -19.71%. Use the drawdown chart below to compare losses from any high point for BND and BOND.
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Drawdown Indicators
| BND | BOND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -19.71% | +1.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -3.01% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -6.12% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -19.71% | +1.80% |
Max Drawdown (10Y)Largest decline over 10 years | -18.58% | -19.71% | +1.13% |
Current DrawdownCurrent decline from peak | -2.67% | -1.95% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -3.50% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.95% | -0.06% |
Volatility
BND vs. BOND - Volatility Comparison
The current volatility for Vanguard Total Bond Market ETF (BND) is 1.23%, while PIMCO Active Bond ETF (BOND) has a volatility of 1.43%. This indicates that BND experiences smaller price fluctuations and is considered to be less risky than BOND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND | BOND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.43% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.94% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.76% | 3.96% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 5.76% | +0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 5.09% | +0.44% |
BND vs. BOND - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is lower than BOND's 0.54% expense ratio.
Dividends
BND vs. BOND - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 3.98%, less than BOND's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
BOND PIMCO Active Bond ETF | 5.21% | 5.11% | 5.02% | 4.06% | 3.44% | 2.58% | 2.66% | 3.38% | 3.18% | 2.87% | 2.85% | 4.14% |
Frequently Asked Questions
With a correlation of 0.98, BND and BOND 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.
BOND has higher volatility (1.43%) compared to BND (1.23%). In terms of maximum drawdown, BND dropped -18.58% vs BOND's -19.71%.
On 10-year performance, BOND leads with 2.14% vs 1.56% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BOND has performed better with a 2.14% return vs 1.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.54% for BOND.
BOND has the higher dividend yield at 5.21%, compared with 3.98% for BND.
BND is categorized as Total Bond Market, while BOND is Intermediate Core-Plus Bond. They also come from different issuers: Vanguard and PIMCO. Their fees differ too: 0.03% for BND and 0.54% for BOND.
BOND currently has the higher Sharpe Ratio (1.48 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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