BND vs. BTOT
BND (Vanguard Total Bond Market ETF) and BTOT (iShares Total USD Fixed Income Market ETF) are both Total Bond Market funds - BND tracks the Bloomberg U.S. Aggregate Float Adjusted Index while BTOT tracks the Bloomberg US Total Fixed Income Market Index. Both are passively managed. With a 0.97 correlation, they move nearly in lockstep. BND charges 0.03%/yr vs 0.09%/yr for BTOT.
Performance
BND vs. BTOT - Performance Comparison
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Returns By Period
In the year-to-date period, BND achieves a 0.27% return, which is significantly lower than BTOT's 0.51% return.
BND
- 1D
- 0.17%
- 1M
- -0.32%
- 6M
- -0.21%
- YTD
- 0.27%
- 1Y
- 4.37%
- 3Y*
- 3.91%
- 5Y*
- -0.16%
- 10Y*
- 1.47%
BTOT
- 1D
- 0.17%
- 1M
- -0.29%
- 6M
- 0.13%
- YTD
- 0.51%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BND vs. BTOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BND Vanguard Total Bond Market ETF | 0.27% | 0.08% |
BTOT iShares Total USD Fixed Income Market ETF | 0.51% | 0.12% |
Correlation
The correlation between BND and BTOT 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 (All Time) Calculated using the full available price history since Dec 11, 2025 | 0.97 |
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Return for Risk
BND vs. BTOT — Risk / Return Rank
BND
BTOT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BND vs. BTOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and iShares Total USD Fixed Income Market ETF (BTOT). 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.
| BND | BTOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.21 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.64 | — | — |
| Martin ratioReturn relative to average drawdown | 4.49 | — | — |
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Drawdowns
BND vs. BTOT - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, which is greater than BTOT's maximum drawdown of -2.36%. Use the drawdown chart below to compare losses from any high point for BND and BTOT.
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Drawdown Indicators
| BND | BTOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -2.36% | -16.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | — | — |
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 DrawdownCurrent decline from peak | -2.36% | -1.07% | -1.29% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -0.80% | -2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | — | — |
Volatility
BND vs. BTOT - Volatility Comparison
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Volatility by Period
| BND | BTOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.73% | 3.66% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 3.66% | +2.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 3.66% | +1.87% |
BND vs. BTOT - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is lower than BTOT's 0.09% expense ratio. Despite the difference, 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. BTOT - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 3.99%, more than BTOT's 2.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.99% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
BTOT iShares Total USD Fixed Income Market ETF | 2.50% | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, BND and BTOT 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.
On fees, BND is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BND is cheaper with a 0.03% expense ratio, compared with 0.09% for BTOT.
BND has the higher dividend yield at 3.99%, compared with 2.50% for BTOT.
BND tracks Bloomberg U.S. Aggregate Float Adjusted Index, while BTOT tracks Bloomberg US Total Fixed Income Market Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BND and 0.09% for BTOT.
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