BNDC vs. BIV
BNDC (FlexShares Core Select Bond Fund) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both Intermediate Core Bond funds. BNDC is actively managed, while BIV is passively managed. Over the past 5 years, BNDC returned -0.19%/yr vs 0.17%/yr for BIV. Their correlation of 0.82 suggests significant overlap in exposure. BNDC charges 0.35%/yr vs 0.03%/yr for BIV.
Performance
BNDC vs. BIV - Performance Comparison
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Returns By Period
In the year-to-date period, BNDC achieves a 0.07% return, which is significantly higher than BIV's -0.62% return.
BNDC
- 1D
- 0.13%
- 1M
- 0.12%
- YTD
- 0.07%
- 6M
- 0.16%
- 1Y
- 4.25%
- 3Y*
- 3.76%
- 5Y*
- -0.19%
- 10Y*
- —
BIV
- 1D
- -0.51%
- 1M
- -0.91%
- YTD
- -0.62%
- 6M
- -0.48%
- 1Y
- 4.09%
- 3Y*
- 4.15%
- 5Y*
- 0.17%
- 10Y*
- 1.87%
BNDC vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNDC FlexShares Core Select Bond Fund | 0.07% | 7.29% | 0.86% | 5.36% | -13.54% | -2.01% | 8.66% | 9.57% | -1.49% | 3.97% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.62% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
Correlation
The correlation between BNDC and BIV is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2016 | 0.82 |
The correlation between BNDC and BIV shifts across timeframes, from 0.82 (all time) to 0.97 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BNDC vs. BIV — Risk / Return Rank
BNDC
BIV
BNDC vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Core Select Bond Fund (BNDC) and Vanguard Intermediate-Term Bond Index ETF (BIV). 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.
| BNDC | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.29 | +0.19 |
| Martin ratioReturn relative to average drawdown | 4.39 | 3.86 | +0.53 |
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
| BNDC | BIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.01 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.03 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.64 | -0.43 |
Drawdowns
BNDC vs. BIV - Drawdown Comparison
The maximum BNDC drawdown since its inception was -18.80%, roughly equal to the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for BNDC and BIV.
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Drawdown Indicators
| BNDC | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -18.95% | +0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -3.18% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -6.30% | -6.07% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -18.74% | +0.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.95% | — |
Current DrawdownCurrent decline from peak | -3.34% | -2.41% | -0.93% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -3.39% | -3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.06% | -0.09% |
Volatility
BNDC vs. BIV - Volatility Comparison
The current volatility for FlexShares Core Select Bond Fund (BNDC) is 1.23%, while Vanguard Intermediate-Term Bond Index ETF (BIV) has a volatility of 1.37%. This indicates that BNDC experiences smaller price fluctuations and is considered to be less risky than BIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDC | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.37% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.94% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 4.06% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 6.40% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.05% | 5.50% | +2.55% |
BNDC vs. BIV - Expense Ratio Comparison
BNDC has a 0.35% expense ratio, which is higher than BIV's 0.03% expense ratio.
Dividends
BNDC vs. BIV - Dividend Comparison
BNDC's dividend yield for the trailing twelve months is around 4.15%, less than BIV's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.23% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
BNDC FlexShares Core Select Bond Fund | 4.15% | 4.16% | 3.81% | 3.19% | 2.64% | 1.72% | 2.61% | 2.89% | 2.86% | 2.50% | 0.64% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, BNDC and BIV 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.
BIV has higher volatility (1.37%) compared to BNDC (1.23%). In terms of maximum drawdown, BNDC dropped -18.80% vs BIV's -18.95%.
On 5-year performance, BIV leads with 0.17% vs -0.19% for BNDC. On fees, BIV is cheaper at 0.03% per year. On volatility, BNDC has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BIV has performed better with a 0.17% return vs -0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIV is cheaper with a 0.03% expense ratio, compared with 0.35% for BNDC.
BIV has the higher dividend yield at 4.23%, compared with 4.15% for BNDC.
They also come from different issuers: Northern Trust and Vanguard. Their fees differ too: 0.35% for BNDC and 0.03% for BIV.
BNDC currently has the higher Sharpe Ratio (1.09 vs 1.01), 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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