BND vs. NVO
BND (Vanguard Total Bond Market ETF) is Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while NVO (Novo Nordisk A/S) is a stock. Over the past 10 years, BND returned 1.43%/yr vs 8.18%/yr for NVO. At a correlation of -0.03, they often move in opposite directions.
Performance
BND vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, BND achieves a 0.08% return, which is significantly lower than NVO's 0.91% return. Over the past 10 years, BND has underperformed NVO with an annualized return of 1.43%, while NVO has yielded a comparatively higher 8.18% annualized return.
BND
- 1D
- -0.25%
- 1M
- -0.57%
- 6M
- -0.09%
- YTD
- 0.08%
- 1Y
- 3.77%
- 3Y*
- 3.82%
- 5Y*
- -0.23%
- 10Y*
- 1.43%
- ALL TIME*
- 3.03%
NVO
- 1D
- -1.41%
- 1M
- 14.86%
- 6M
- -17.63%
- YTD
- 0.91%
- 1Y
- -19.26%
- 3Y*
- -13.51%
- 5Y*
- 4.43%
- 10Y*
- 8.18%
- ALL TIME*
- 14.52%
BND vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 0.08% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
NVO Novo Nordisk A/S | 0.91% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between BND and NVO is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | -0.03 |
The correlation between BND and NVO shifts across timeframes, from -0.03 (all time) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BND vs. NVO — Risk / Return Rank
BND
NVO
BND vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and Novo Nordisk A/S (NVO). 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 | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.97 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | -0.39 | +1.81 |
| Martin ratioReturn relative to average drawdown | 3.81 | -0.61 | +4.42 |
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Drawdowns
BND vs. NVO - Drawdown Comparison
The maximum BND drawdown since its inception was -18.58%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for BND and NVO.
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Drawdown Indicators
| BND | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.58% | -74.70% | +56.12% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -49.17% | +46.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.59% | -74.70% | +69.11% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -74.70% | +56.79% |
Max Drawdown (10Y)Largest decline over 10 years | -18.58% | -74.70% | +56.12% |
Current DrawdownCurrent decline from peak | -2.55% | -63.95% | +61.40% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -17.89% | +14.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 31.75% | -30.76% |
Volatility
BND vs. NVO - Volatility Comparison
The current volatility for Vanguard Total Bond Market ETF (BND) is 1.08%, while Novo Nordisk A/S (NVO) has a volatility of 9.48%. This indicates that BND experiences smaller price fluctuations and is considered to be less risky than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BND | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 9.48% | -8.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 37.43% | -34.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 51.79% | -48.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 38.58% | -32.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 32.63% | -27.10% |
Dividends
BND vs. NVO - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 4.00%, more than NVO's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 4.00% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
NVO Novo Nordisk A/S | 3.63% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Frequently Asked Questions
BND and NVO have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (9.48%) compared to BND (1.08%). In terms of maximum drawdown, BND dropped -18.58% vs NVO's -74.70%.
BND currently has the higher Sharpe Ratio (1.02 vs -0.37), 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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