BNDD vs. VGLT
BNDD (Quadratic Deflation ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both Government Bonds funds. BNDD is actively managed, while VGLT is passively managed. Over the past 3 years, BNDD returned -3.91%/yr vs -0.72%/yr for VGLT. A 0.73 correlation means they provide meaningful diversification when combined. BNDD charges 1.02%/yr vs 0.03%/yr for VGLT.
Performance
BNDD vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, BNDD achieves a 4.32% return, which is significantly higher than VGLT's -0.41% return.
BNDD
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.32%
- 6M
- 2.24%
- 1Y
- 3.39%
- 3Y*
- -3.91%
- 5Y*
- —
- 10Y*
- —
VGLT
- 1D
- -0.40%
- 1M
- 0.71%
- YTD
- -0.41%
- 6M
- -1.68%
- 1Y
- 5.25%
- 3Y*
- -0.72%
- 5Y*
- -5.30%
- 10Y*
- -1.10%
BNDD vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 4.32% | -8.17% | -6.65% | 4.02% | -17.48% | 5.54% |
VGLT Vanguard Long-Term Treasury ETF | -0.41% | 5.35% | -6.28% | 3.27% | -29.34% | -1.58% |
Correlation
The correlation between BNDD and VGLT is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.73 |
The correlation between BNDD and VGLT shifts across timeframes, from 0.62 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BNDD vs. VGLT — Risk / Return Rank
BNDD
VGLT
BNDD vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Deflation ETF (BNDD) and Vanguard Long-Term Treasury ETF (VGLT). 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.
| BNDD | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.10 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 0.75 | -0.19 |
| Martin ratioReturn relative to average drawdown | 1.20 | 1.96 | -0.76 |
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
| BNDD | VGLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.59 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.37 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.08 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.33 | 0.19 | -0.51 |
Drawdowns
BNDD vs. VGLT - Drawdown Comparison
The maximum BNDD drawdown since its inception was -30.87%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for BNDD and VGLT.
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Drawdown Indicators
| BNDD | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.87% | -46.18% | +15.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.09% | -7.01% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -20.75% | -17.68% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.18% | — |
Current DrawdownCurrent decline from peak | -26.51% | -36.83% | +10.32% |
Average DrawdownAverage peak-to-trough decline | -19.34% | -15.06% | -4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.83% | 2.68% | +0.15% |
Volatility
BNDD vs. VGLT - Volatility Comparison
The current volatility for Quadratic Deflation ETF (BNDD) is 2.21%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.59%. This indicates that BNDD experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDD | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 2.59% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 8.11% | 5.94% | +2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.59% | 8.88% | +1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.38% | 14.58% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.38% | 13.81% | -0.43% |
BNDD vs. VGLT - Expense Ratio Comparison
BNDD has a 1.02% expense ratio, which is higher than VGLT's 0.03% expense ratio.
Dividends
BNDD vs. VGLT - Dividend Comparison
BNDD's dividend yield for the trailing twelve months is around 3.61%, less than VGLT's 4.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGLT Vanguard Long-Term Treasury ETF | 4.61% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
BNDD and VGLT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.59%) compared to BNDD (2.21%). In terms of maximum drawdown, BNDD dropped -30.87% vs VGLT's -46.18%.
On 3-year performance, VGLT leads with -0.72% vs -3.91% for BNDD. On fees, VGLT is cheaper at 0.03% per year. On volatility, BNDD has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VGLT has performed better with a -0.72% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 1.02% for BNDD.
VGLT has the higher dividend yield at 4.61%, compared with 3.61% for BNDD.
They also come from different issuers: KraneShares and Vanguard. Their fees differ too: 1.02% for BNDD and 0.03% for VGLT.
VGLT currently has the higher Sharpe Ratio (0.59 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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