BND vs. IUSB
BND (Vanguard Total Bond Market ETF) and IUSB (iShares Core Universal USD Bond ETF) are both exchange-traded funds - BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while IUSB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Index. Both are passively managed. Over the past 10 years, BND returned 1.56%/yr vs 1.91%/yr for IUSB. Their correlation of 0.91 suggests significant overlap in exposure. BND charges 0.03%/yr vs 0.06%/yr for IUSB.
Performance
BND vs. IUSB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BND achieves a -0.05% return, which is significantly lower than IUSB's 0.12% return. Over the past 10 years, BND has underperformed IUSB with an annualized return of 1.56%, while IUSB has yielded a comparatively higher 1.91% 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%
IUSB
- 1D
- -0.43%
- 1M
- -0.61%
- YTD
- 0.12%
- 6M
- 0.30%
- 1Y
- 4.80%
- 3Y*
- 4.35%
- 5Y*
- 0.38%
- 10Y*
- 1.91%
BND vs. IUSB - 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% |
IUSB iShares Core Universal USD Bond ETF | 0.12% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
Correlation
The correlation between BND and IUSB is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014 | 0.91 |
The correlation between BND and IUSB has been stable across timeframes, ranging from 0.91 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BND vs. IUSB — Risk / Return Rank
BND
IUSB
BND vs. IUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and iShares Core Universal USD Bond ETF (IUSB). 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 | IUSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.91 | -0.28 |
| Martin ratioReturn relative to average drawdown | 4.86 | 5.74 | -0.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| BND | IUSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.34 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.07 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.38 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.45 | +0.13 |
Drawdowns
BND vs. IUSB - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, roughly equal to the maximum IUSB drawdown of -17.90%. Use the drawdown chart below to compare losses from any high point for BND and IUSB.
Loading charts...
Drawdown Indicators
| BND | IUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -17.90% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.53% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -5.82% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -17.87% | -0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -18.58% | -17.90% | -0.68% |
Current DrawdownCurrent decline from peak | -2.67% | -1.63% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -3.59% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.84% | +0.05% |
Volatility
BND vs. IUSB - Volatility Comparison
Vanguard Total Bond Market ETF (BND) and iShares Core Universal USD Bond ETF (IUSB) have volatilities of 1.23% and 1.23%, 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.
Loading charts...
Volatility by Period
| BND | IUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.23% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.65% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.76% | 3.60% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 5.79% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 5.04% | +0.49% |
BND vs. IUSB - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is lower than IUSB's 0.06% 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. IUSB - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 3.98%, less than IUSB's 4.24% 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% |
IUSB iShares Core Universal USD Bond ETF | 4.24% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.99, BND and IUSB 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.
IUSB has higher volatility (1.23%) compared to BND (1.23%). In terms of maximum drawdown, BND dropped -18.58% vs IUSB's -17.90%.
On 10-year performance, IUSB leads with 1.91% vs 1.56% for BND. On fees, BND is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IUSB has performed better with a 1.91% 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 0.06% for IUSB.
IUSB has the higher dividend yield at 4.24%, compared with 3.98% for BND.
BND is categorized as Total Bond Market, while IUSB is Intermediate Core-Plus Bond. BND tracks Bloomberg U.S. Aggregate Float Adjusted Index, while IUSB tracks Bloomberg U.S. Universal Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BND and 0.06% for IUSB.
IUSB currently has the higher Sharpe Ratio (1.34 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.
Find the right allocation for BND and IUSB
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer