BND vs. IWFM.L
BND (Vanguard Total Bond Market ETF) and IWFM.L (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while IWFM.L is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, BND returned 1.54%/yr vs 15.06%/yr for IWFM.L. At a 0.04 correlation, their price movements are largely independent. BND charges 0.03%/yr vs 0.25%/yr for IWFM.L.
Performance
BND vs. IWFM.L - Performance Comparison
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Different Trading Currencies
BND is traded in USD, while IWFM.L is traded in GBp. To make them comparable, the IWFM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BND achieves a 0.06% return, which is significantly lower than IWFM.L's 15.86% return. Over the past 10 years, BND has underperformed IWFM.L with an annualized return of 1.54%, while IWFM.L has yielded a comparatively higher 15.06% annualized return.
BND
- 1D
- -0.08%
- 1M
- -0.29%
- YTD
- 0.06%
- 6M
- 0.14%
- 1Y
- 4.64%
- 3Y*
- 3.94%
- 5Y*
- -0.06%
- 10Y*
- 1.54%
IWFM.L
- 1D
- -0.61%
- 1M
- -1.43%
- YTD
- 15.86%
- 6M
- 15.33%
- 1Y
- 29.32%
- 3Y*
- 27.39%
- 5Y*
- 12.47%
- 10Y*
- 15.06%
BND vs. IWFM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 0.06% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
IWFM.L iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 15.86% | 21.23% | 30.41% | 11.44% | -18.02% | 14.53% | 27.96% | 28.19% | -4.13% | 31.86% |
Correlation
The correlation between BND and IWFM.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.04 |
The correlation between BND and IWFM.L shifts across timeframes, from 0.04 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BND vs. IWFM.L — Risk / Return Rank
BND
IWFM.L
BND vs. IWFM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L). 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 | IWFM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.29 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.50 | -0.75 |
| Martin ratioReturn relative to average drawdown | 5.11 | 10.43 | -5.32 |
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 | IWFM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.62 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | 0.54 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.74 | -0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.41 | +0.18 |
Drawdowns
BND vs. IWFM.L - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, smaller than the maximum IWFM.L drawdown of -42.09%. Use the drawdown chart below to compare losses from any high point for BND and IWFM.L.
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Drawdown Indicators
| BND | IWFM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -42.09% | +23.51% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -11.70% | +9.02% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -19.82% | +13.90% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -30.66% | +12.75% |
Max Drawdown (10Y)Largest decline over 10 years | -18.58% | -30.82% | +12.24% |
Current DrawdownCurrent decline from peak | -2.57% | -5.67% | +3.10% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -13.36% | +10.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 2.80% | -1.89% |
Volatility
BND vs. IWFM.L - Volatility Comparison
The current volatility for Vanguard Total Bond Market ETF (BND) is 1.17%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWFM.L) has a volatility of 6.68%. This indicates that BND experiences smaller price fluctuations and is considered to be less risky than IWFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND | IWFM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.17% | 6.68% | -5.51% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 15.72% | -13.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 18.08% | -14.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 22.93% | -16.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 20.27% | -14.74% |
BND vs. IWFM.L - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is lower than IWFM.L's 0.25% 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. IWFM.L - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 3.98%, while IWFM.L has not paid dividends to shareholders.
| 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% |
IWFM.L iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BND and IWFM.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.25% for IWFM.L.
BND is categorized as Total Bond Market, while IWFM.L is Momentum. BND tracks Bloomberg U.S. Aggregate Float Adjusted Index, while IWFM.L tracks MSCI World Momentum Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BND and 0.25% for IWFM.L.
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