BNDS.AX vs. VIF.AX

Last updated Jul 18, 2026

BNDS.AX (BetaShares Western Asset Australian Bond Active ETF) and VIF.AX (Vanguard International Fixed Interest Index (Hedged) ETF) are both Total Bond Market funds. BNDS.AX is actively managed, while VIF.AX is passively managed. Over the past 5 years, BNDS.AX returned -0.33%/yr vs -1.45%/yr for VIF.AX. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

BNDS.AX vs. VIF.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in BetaShares Western Asset Australian Bond Active ETF (BNDS.AX) and Vanguard International Fixed Interest Index (Hedged) ETF (VIF.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDS.AX achieves a 0.92% return, which is significantly higher than VIF.AX's -0.76% return.

BNDS.AX

• 1D: -0.13%
• 1M: -0.10%
• 6M: 0.45%
• YTD: 0.92%
• 1Y: 0.24%
• 3Y*: 3.29%
• 5Y*: -0.33%
• 10Y*: —

VIF.AX

• 1D: -0.08%
• 1M: -0.52%
• 6M: -0.43%
• YTD: -0.76%
• 1Y: 0.91%
• 3Y*: 1.77%
• 5Y*: -1.45%
• 10Y*: 0.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDS.AX vs. VIF.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BNDS.AX BetaShares Western Asset Australian Bond Active ETF	0.92%	2.52%	3.08%	5.73%	-10.96%	-2.83%	4.81%	7.50%	2.15%
VIF.AX Vanguard International Fixed Interest Index (Hedged) ETF	-0.76%	2.58%	0.77%	4.57%	-12.59%	-2.40%	4.55%	6.40%	1.98%

Correlation

The correlation between BNDS.AX and VIF.AX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018	0.64

The correlation between BNDS.AX and VIF.AX shifts across timeframes, from 0.60 (1 year) to 0.74 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BNDS.AX vs. VIF.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNDS.AX

BNDS.AX Risk / Return Rank: 11
BNDS.AX Sharpe Ratio Rank: 12
BNDS.AX Sortino Ratio Rank: 10
BNDS.AX Omega Ratio Rank: 10
BNDS.AX Calmar Ratio Rank: 11
BNDS.AX Martin Ratio Rank: 11

VIF.AX

VIF.AX Risk / Return Rank: 13
VIF.AX Sharpe Ratio Rank: 13
VIF.AX Sortino Ratio Rank: 11
VIF.AX Omega Ratio Rank: 12
VIF.AX Calmar Ratio Rank: 13
VIF.AX Martin Ratio Rank: 13

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.

BNDS.AX vs. VIF.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BetaShares Western Asset Australian Bond Active ETF (BNDS.AX) and Vanguard International Fixed Interest Index (Hedged) ETF (VIF.AX). 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.

	BNDS.AX	VIF.AX	Difference
Sharpe ratio: Return per unit of total volatility	0.06	0.14	-0.08
Sortino ratio: Return per unit of downside risk	0.12	0.26	-0.14
Omega ratio: Gain probability vs. loss probability	1.01	1.04	-0.03
Calmar ratio: Return relative to maximum drawdown	0.05	0.21	-0.17
Martin ratio: Return relative to average drawdown	0.09	0.50	-0.41

BNDS.AX vs. VIF.AX - Sharpe Ratio Comparison

The current BNDS.AX Sharpe Ratio is 0.06, which is lower than the VIF.AX Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of BNDS.AX and VIF.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNDS.AX vs. VIF.AX - Drawdown Comparison

The maximum BNDS.AX drawdown since its inception was -16.27%, roughly equal to the maximum VIF.AX drawdown of -16.71%. Use the drawdown chart below to compare losses from any high point for BNDS.AX and VIF.AX.

Drawdown Indicators

	BNDS.AX	VIF.AX	Difference
Max Drawdown Largest peak-to-trough decline	-16.27%	-16.71%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-5.05%	-4.13%	-0.92%
Max Drawdown (3Y) Largest decline over 3 years	-5.05%	-4.13%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-16.11%	-15.87%	-0.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.71%	—
Current Drawdown Current decline from peak	-3.04%	-8.82%	+5.78%
Average Drawdown Average peak-to-trough decline	-5.37%	-5.48%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.79%	+0.81%

Volatility

BNDS.AX vs. VIF.AX - Volatility Comparison

The current volatility for BetaShares Western Asset Australian Bond Active ETF (BNDS.AX) is 0.79%, while Vanguard International Fixed Interest Index (Hedged) ETF (VIF.AX) has a volatility of 2.00%. This indicates that BNDS.AX experiences smaller price fluctuations and is considered to be less risky than VIF.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDS.AX	VIF.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	2.00%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	3.03%	5.82%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	3.73%	6.13%	-2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.36%	5.26%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	5.05%	+0.18%

Dividends

BNDS.AX vs. VIF.AX - Dividend Comparison

BNDS.AX's dividend yield for the trailing twelve months is around 2.98%, less than VIF.AX's 8.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BNDS.AX BetaShares Western Asset Australian Bond Active ETF	2.98%	3.39%	3.31%	2.63%	1.47%	1.25%	2.46%	2.31%	0.14%	0.00%	0.00%
VIF.AX Vanguard International Fixed Interest Index (Hedged) ETF	8.45%	2.10%	1.76%	1.32%	1.68%	9.39%	6.42%	2.29%	1.95%	9.65%	1.99%

Frequently Asked Questions

Can I hold both BNDS.AX and VIF.AX in my portfolio?

BNDS.AX and VIF.AX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between BNDS.AX and VIF.AX?

They also come from different issuers: BetaShares and Vanguard.