BNDC vs. BND
BNDC (FlexShares Core Select Bond Fund) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - BNDC is a Intermediate Core Bond fund actively managed by Northern Trust, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. BNDC is actively managed, while BND is passively managed. Over the past 5 years, BNDC returned -0.30%/yr vs 0.05%/yr for BND. Their correlation of 0.85 suggests significant overlap in exposure. BNDC charges 0.35%/yr vs 0.03%/yr for BND.
Performance
BNDC vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, BNDC achieves a 0.15% return, which is significantly lower than BND's 0.49% return.
BNDC
- 1D
- 0.11%
- 1M
- 0.68%
- YTD
- 0.15%
- 6M
- 0.20%
- 1Y
- 3.93%
- 3Y*
- 3.72%
- 5Y*
- -0.30%
- 10Y*
- —
BND
- 1D
- 0.11%
- 1M
- 0.64%
- YTD
- 0.49%
- 6M
- 0.57%
- 1Y
- 4.23%
- 3Y*
- 3.96%
- 5Y*
- 0.05%
- 10Y*
- 1.56%
BNDC vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNDC FlexShares Core Select Bond Fund | 0.15% | 7.29% | 0.86% | 5.36% | -13.54% | -2.01% | 8.66% | 9.57% | -1.49% | 3.97% |
BND Vanguard Total Bond Market ETF | 0.49% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between BNDC and BND is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2016 | 0.85 |
The correlation between BNDC and BND shifts across timeframes, from 0.85 (all time) to 0.98 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BNDC vs. BND — Risk / Return Rank
BNDC
BND
BNDC vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Core Select Bond Fund (BNDC) and Vanguard Total Bond Market ETF (BND). 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.
| BNDC | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 1.59 | -0.21 |
| Martin ratioReturn relative to average drawdown | 3.79 | 4.52 | -0.73 |
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Drawdowns
BNDC vs. BND - Drawdown Comparison
The maximum BNDC drawdown since its inception was -18.80%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BNDC and BND.
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Drawdown Indicators
| BNDC | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -18.58% | -0.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.68% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -6.30% | -5.92% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -17.91% | -0.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -3.27% | -2.15% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -7.33% | -3.06% | -4.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.94% | +0.10% |
Volatility
BNDC vs. BND - Volatility Comparison
The current volatility for FlexShares Core Select Bond Fund (BNDC) is 1.02%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.08%. This indicates that BNDC experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDC | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.08% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 2.77% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 3.74% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 6.03% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.04% | 5.53% | +2.51% |
BNDC vs. BND - Expense Ratio Comparison
BNDC has a 0.35% expense ratio, which is higher than BND's 0.03% expense ratio.
Dividends
BNDC vs. BND - Dividend Comparison
BNDC's dividend yield for the trailing twelve months is around 4.14%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
BNDC FlexShares Core Select Bond Fund | 4.14% | 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 0.95, BNDC and BND 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.
BND has higher volatility (1.08%) compared to BNDC (1.02%). In terms of maximum drawdown, BNDC dropped -18.80% vs BND's -18.58%.
On 5-year performance, BND leads with 0.05% vs -0.30% for BNDC. 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 5-year period, BND has performed better with a 0.05% return vs -0.30%. 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 0.35% for BNDC.
BNDC has the higher dividend yield at 4.14%, compared with 3.96% for BND.
BNDC is categorized as Intermediate Core Bond, while BND is Total Bond Market. They also come from different issuers: Northern Trust and Vanguard. Their fees differ too: 0.35% for BNDC and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.14 vs 1.03), 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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