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BNDD vs. PLW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNDD vs. PLW

Last updated Jun 4, 2026

BNDD (Quadratic Deflation ETF) and PLW (Invesco 1-30 Laddered Treasury ETF) are both Government Bonds funds. BNDD is actively managed, while PLW is passively managed. Over the past 3 years, BNDD returned -3.91%/yr vs 0.89%/yr for PLW. A 0.67 correlation means they provide meaningful diversification when combined. BNDD charges 1.02%/yr vs 0.25%/yr for PLW.

Performance

BNDD vs. PLW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quadratic Deflation ETF (BNDD) and Invesco 1-30 Laddered Treasury ETF (PLW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BNDD achieves a 4.32% return, which is significantly higher than PLW's -0.55% return.

BNDD

1D
-0.08%
1M
1.37%
YTD
4.32%
6M
2.24%
1Y
3.39%
3Y*
-3.91%
5Y*
—
10Y*
—

PLW

1D
-0.33%
1M
0.34%
YTD
-0.55%
6M
-1.32%
1Y
4.34%
3Y*
0.89%
5Y*
-2.77%
10Y*
-0.10%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDD vs. PLW - Yearly Performance Comparison

2026 (YTD)20252024202320222021
BNDD
Quadratic Deflation ETF		4.32%-8.17%-6.65%4.02%-17.48%5.54%
PLW
Invesco 1-30 Laddered Treasury ETF		-0.55%5.84%-2.95%3.31%-19.98%-1.45%

Correlation

The correlation between BNDD and PLW is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Sep 22, 2021

0.67

The correlation between BNDD and PLW shifts across timeframes, from 0.57 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

BNDD vs. PLW - Sectors Allocation Comparison

Sectors
BNDD
PLW

Financial Services

77.7%
0.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

BNDD
77.7%
PLW
0.0%

Basic Materials

BNDD

-

PLW

-

Communication Services

BNDD

-

PLW

-

Consumer Cyclical

BNDD

-

PLW

-

Consumer Defensive

BNDD

-

PLW

-

Energy

BNDD

-

PLW

-

Healthcare

BNDD

-

PLW

-

Industrials

BNDD

-

PLW

-

Real Estate

BNDD

-

PLW

-

Technology

BNDD

-

PLW

-

Utilities

BNDD

-

PLW

-

Compare stocks, funds, or ETFs

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Quadratic Deflation ETF

Invesco 1-30 Laddered Treasury ETF

Often compared with BNDD:
BNDD vs. SPYBNDD vs. BNDBNDD vs. UUPBNDD vs. VGITBNDD vs. TLTBNDD vs. VTBNDD vs. XDTE
Often compared with PLW:
PLW vs. TLHPLW vs. IEFPLW vs. TLTPLW vs. EDVPLW vs. RFLPLW vs. VGLTPLW vs. TMF

Return for Risk

BNDD vs. PLW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNDD
BNDD Risk / Return Rank: 1414
Overall Rank
BNDD Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
BNDD Sortino Ratio Rank: 1212
Sortino Ratio Rank
BNDD Omega Ratio Rank: 1212
Omega Ratio Rank
BNDD Calmar Ratio Rank: 1616
Calmar Ratio Rank
BNDD Martin Ratio Rank: 1515
Martin Ratio Rank
PLW
PLW Risk / Return Rank: 1919
Overall Rank
PLW Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
PLW Sortino Ratio Rank: 1919
Sortino Ratio Rank
PLW Omega Ratio Rank: 1818
Omega Ratio Rank
PLW Calmar Ratio Rank: 1919
Calmar Ratio Rank
PLW Martin Ratio Rank: 2020
Martin Ratio Rank
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.

BNDD vs. PLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quadratic Deflation ETF (BNDD) and Invesco 1-30 Laddered Treasury ETF (PLW). 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.

BNDDPLWDifference
Sharpe ratioReturn per unit of total volatility
0.32
0.66

-0.34

Sortino ratioReturn per unit of downside risk
0.52
1.00

-0.48

Omega ratioGain probability vs. loss probability

1.06

1.11

-0.05

Calmar ratioReturn relative to maximum drawdown

0.56

0.80

-0.24

Martin ratioReturn relative to average drawdown

1.20

2.24

-1.04

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNDD vs. PLW - Sharpe Ratio Comparison

The current BNDD Sharpe Ratio is 0.32, which is lower than the PLW Sharpe Ratio of 0.66. The chart below compares the historical Sharpe Ratios of BNDD and PLW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BNDDPLWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.32

0.66

-0.34

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

-0.28

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

-0.01

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.33

0.31

-0.64

Drawdowns

BNDD vs. PLW - Drawdown Comparison

The maximum BNDD drawdown since its inception was -30.87%, smaller than the maximum PLW drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for BNDD and PLW.

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Drawdown Indicators

BNDDPLWDifference

Max Drawdown

Largest peak-to-trough decline

-30.87%

-32.70%

+1.83%

Max Drawdown (1Y)

Largest decline over 1 year

-6.09%

-5.45%

-0.64%

Max Drawdown (3Y)

Largest decline over 3 years

-20.75%

-11.58%

-9.17%

Max Drawdown (5Y)

Largest decline over 5 years

—

-28.30%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-32.70%

—

Current Drawdown

Current decline from peak

-26.51%

-22.38%

-4.13%

Average Drawdown

Average peak-to-trough decline

-19.34%

-9.65%

-9.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.83%

1.94%

+0.89%

Volatility

BNDD vs. PLW - Volatility Comparison

Quadratic Deflation ETF (BNDD) has a higher volatility of 2.21% compared to Invesco 1-30 Laddered Treasury ETF (PLW) at 2.04%. This indicates that BNDD's price experiences larger fluctuations and is considered to be riskier than PLW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNDDPLWDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.21%

2.04%

+0.17%

Volatility (6M)

Calculated over the trailing 6-month period

8.11%

4.53%

+3.58%

Volatility (1Y)

Calculated over the trailing 1-year period

10.59%

6.58%

+4.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.38%

9.86%

+3.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.38%

9.10%

+4.28%

BNDD vs. PLW - Expense Ratio Comparison

BNDD has a 1.02% expense ratio, which is higher than PLW's 0.25% expense ratio.

Dividends

BNDD vs. PLW - Dividend Comparison

BNDD's dividend yield for the trailing twelve months is around 3.61%, less than PLW's 3.83% yield.

PositionTTM20252024202320222021202020192018201720162015
BNDD
Quadratic Deflation ETF		3.61%3.82%3.85%4.30%43.17%1.04%0.00%0.00%0.00%0.00%0.00%0.00%
PLW
Invesco 1-30 Laddered Treasury ETF		3.83%3.75%3.56%2.87%1.97%1.15%1.00%1.96%2.14%2.02%2.00%2.14%

Frequently Asked Questions

BNDD and PLW have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

BNDD has higher volatility (2.21%) compared to PLW (2.04%). In terms of maximum drawdown, BNDD dropped -30.87% vs PLW's -32.70%.

On 3-year performance, PLW leads with 0.89% vs -3.91% for BNDD. On fees, PLW is cheaper at 0.25% per year. On volatility, PLW has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, PLW has performed better with a 0.89% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PLW is cheaper with a 0.25% expense ratio, compared with 1.02% for BNDD.

PLW has the higher dividend yield at 3.83%, compared with 3.61% for BNDD.

They also come from different issuers: KraneShares and Invesco. Their fees differ too: 1.02% for BNDD and 0.25% for PLW.

PLW currently has the higher Sharpe Ratio (0.66 vs 0.32), 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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