BND vs. O

Last updated Jun 6, 2026

BND (Vanguard Total Bond Market ETF) is Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while O (Realty Income Corporation) is a stock. Over the past 10 years, BND returned 1.56%/yr vs 4.76%/yr for O. At a 0.08 correlation, their price movements are largely independent.

Performance

BND vs. O - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Bond Market ETF (BND) and Realty Income Corporation (O). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BND achieves a -0.05% return, which is significantly lower than O's 10.29% return. Over the past 10 years, BND has underperformed O with an annualized return of 1.56%, while O has yielded a comparatively higher 4.76% 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%

O

• 1D: 1.82%
• 1M: -4.53%
• YTD: 10.29%
• 6M: 6.82%
• 1Y: 15.05%
• 3Y*: 6.20%
• 5Y*: 2.85%
• 10Y*: 4.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BND vs. O - 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%
O Realty Income Corporation	10.29%	12.20%	-2.11%	-4.55%	-7.38%	23.95%	-11.60%	21.27%	15.94%	3.67%

Correlation

The correlation between BND and O is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007	0.08

The correlation between BND and O shifts across timeframes, from 0.08 (all time) to 0.31 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BND vs. O — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 33
BND Sortino Ratio Rank: 33
BND Omega Ratio Rank: 30
BND Calmar Ratio Rank: 34
BND Martin Ratio Rank: 33

O

O Risk / Return Rank: 65
O Sharpe Ratio Rank: 70
O Sortino Ratio Rank: 62
O Omega Ratio Rank: 60
O Calmar Ratio Rank: 67
O Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BND vs. O - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and Realty Income Corporation (O). 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	O	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.94	+0.21
Sortino ratio: Return per unit of downside risk	1.71	1.32	+0.39
Omega ratio: Gain probability vs. loss probability	1.20	1.16	+0.04
Calmar ratio: Return relative to maximum drawdown	1.62	1.36	+0.26
Martin ratio: Return relative to average drawdown	4.86	3.39	+1.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BND vs. O - Sharpe Ratio Comparison

The current BND Sharpe Ratio is 1.16, which is comparable to the O Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of BND and O, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BND	O	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.94	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.15	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.19	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.49	+0.10

Drawdowns

BND vs. O - Drawdown Comparison

The maximum BND drawdown since its inception was -18.58%, smaller than the maximum O drawdown of -48.45%. Use the drawdown chart below to compare losses from any high point for BND and O.

Drawdown Indicators

	BND	O	Difference
Max Drawdown Largest peak-to-trough decline	-18.58%	-48.45%	+29.87%
Max Drawdown (1Y) Largest decline over 1 year	-2.68%	-11.10%	+8.42%
Max Drawdown (3Y) Largest decline over 3 years	-5.92%	-26.49%	+20.57%
Max Drawdown (5Y) Largest decline over 5 years	-17.91%	-34.48%	+16.57%
Max Drawdown (10Y) Largest decline over 10 years	-18.58%	-48.28%	+29.70%
Current Drawdown Current decline from peak	-2.67%	-8.76%	+6.09%
Average Drawdown Average peak-to-trough decline	-3.06%	-9.21%	+6.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	4.45%	-3.56%

Volatility

BND vs. O - Volatility Comparison

The current volatility for Vanguard Total Bond Market ETF (BND) is 1.23%, while Realty Income Corporation (O) has a volatility of 5.78%. This indicates that BND experiences smaller price fluctuations and is considered to be less risky than O based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BND	O	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	5.78%	-4.55%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	11.81%	-9.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.76%	16.01%	-12.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.02%	18.88%	-12.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.53%	25.63%	-20.10%

Dividends

BND vs. O - Dividend Comparison

BND's dividend yield for the trailing twelve months is around 3.98%, less than O's 5.32% 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%
O Realty Income Corporation	5.32%	6.19%	5.37%	5.33%	4.68%	3.87%	4.51%	3.69%	4.19%	4.45%	4.18%	4.41%

Frequently Asked Questions

Can I hold both BND and O in my portfolio?

BND and O have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BND or O?

O has higher volatility (5.78%) compared to BND (1.23%). In terms of maximum drawdown, BND dropped -18.58% vs O's -48.45%.

Which has better risk-adjusted returns?

BND currently has the higher Sharpe Ratio (1.16 vs 0.94), 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.