BNDC vs. BNDW
BNDC (FlexShares Core Select Bond Fund) and BNDW (Vanguard Total World Bond ETF) are both exchange-traded funds - BNDC is a Intermediate Core Bond fund actively managed by Northern Trust, while BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index. BNDC is actively managed, while BNDW is passively managed. Over the past 5 years, BNDC returned -0.19%/yr vs 0.25%/yr for BNDW. Their correlation of 0.90 suggests significant overlap in exposure. BNDC charges 0.35%/yr vs 0.05%/yr for BNDW.
Performance
BNDC vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, BNDC achieves a 0.07% return, which is significantly lower than BNDW's 0.54% return.
BNDC
- 1D
- 0.13%
- 1M
- 0.12%
- YTD
- 0.07%
- 6M
- 0.16%
- 1Y
- 4.25%
- 3Y*
- 3.76%
- 5Y*
- -0.19%
- 10Y*
- —
BNDW
- 1D
- 0.12%
- 1M
- 0.42%
- YTD
- 0.54%
- 6M
- 0.44%
- 1Y
- 3.25%
- 3Y*
- 4.07%
- 5Y*
- 0.25%
- 10Y*
- —
BNDC vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BNDC FlexShares Core Select Bond Fund | 0.07% | 7.29% | 0.86% | 5.36% | -13.54% | -2.01% | 8.66% | 9.57% | 0.77% |
BNDW Vanguard Total World Bond ETF | 0.54% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.21% |
Correlation
The correlation between BNDC and BNDW 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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.90 |
The correlation between BNDC and BNDW has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.
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Return for Risk
BNDC vs. BNDW — Risk / Return Rank
BNDC
BNDW
BNDC vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Core Select Bond Fund (BNDC) and Vanguard Total World Bond ETF (BNDW). 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 | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.21 | +0.27 |
| Martin ratioReturn relative to average drawdown | 4.39 | 3.42 | +0.97 |
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 | BNDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 0.98 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | 0.05 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.38 | -0.17 |
Drawdowns
BNDC vs. BNDW - Drawdown Comparison
The maximum BNDC drawdown since its inception was -18.80%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for BNDC and BNDW.
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Drawdown Indicators
| BNDC | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.80% | -17.22% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.70% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.30% | -4.27% | -2.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.60% | -16.93% | -1.67% |
Current DrawdownCurrent decline from peak | -3.34% | -1.42% | -1.92% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -4.98% | -2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.96% | +0.01% |
Volatility
BNDC vs. BNDW - Volatility Comparison
The current volatility for FlexShares Core Select Bond Fund (BNDC) is 1.23%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 1.31%. This indicates that BNDC experiences smaller price fluctuations and is considered to be less risky than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDC | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 1.31% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.63% | +0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.36% | +0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.07% | 5.21% | +0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.05% | 4.90% | +3.15% |
BNDC vs. BNDW - Expense Ratio Comparison
BNDC has a 0.35% expense ratio, which is higher than BNDW's 0.05% expense ratio.
Dividends
BNDC vs. BNDW - Dividend Comparison
BNDC's dividend yield for the trailing twelve months is around 4.15%, less than BNDW's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
BNDW Vanguard Total World Bond ETF | 4.21% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, BNDC and BNDW 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.
BNDW has higher volatility (1.31%) compared to BNDC (1.23%). In terms of maximum drawdown, BNDC dropped -18.80% vs BNDW's -17.22%.
On 5-year performance, BNDW leads with 0.25% vs -0.19% for BNDC. On fees, BNDW is cheaper at 0.05% 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, BNDW has performed better with a 0.25% return vs -0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDW is cheaper with a 0.05% expense ratio, compared with 0.35% for BNDC.
BNDW has the higher dividend yield at 4.21%, compared with 4.15% for BNDC.
BNDC is categorized as Intermediate Core Bond, while BNDW is Global Bonds. They also come from different issuers: Northern Trust and Vanguard. Their fees differ too: 0.35% for BNDC and 0.05% for BNDW.
BNDC currently has the higher Sharpe Ratio (1.09 vs 0.98), 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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