BNDW vs. BGRN
Compare and contrast key facts about Vanguard Total World Bond ETF (BNDW) and iShares USD Green Bond ETF (BGRN).
BNDW and BGRN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BNDW is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Float Adjusted Composite Index. It was launched on Sep 4, 2018. BGRN is a passively managed fund by iShares that tracks the performance of the Bloomberg MSCI USD Green Bond Select Index. It was launched on Nov 13, 2018. Both BNDW and BGRN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BNDW vs. BGRN - Performance Comparison
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BNDW vs. BGRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 0.09% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.60% |
BGRN iShares USD Green Bond ETF | -0.35% | 7.27% | 2.77% | 6.50% | -13.06% | -2.80% | 6.86% | 9.70% | 1.14% |
Returns By Period
In the year-to-date period, BNDW achieves a 0.09% return, which is significantly higher than BGRN's -0.35% return.
BNDW
- 1D
- 0.13%
- 1M
- -1.46%
- YTD
- 0.09%
- 6M
- 0.53%
- 1Y
- 3.34%
- 3Y*
- 3.77%
- 5Y*
- 0.23%
- 10Y*
- —
BGRN
- 1D
- -0.08%
- 1M
- -1.27%
- YTD
- -0.35%
- 6M
- 0.46%
- 1Y
- 4.44%
- 3Y*
- 4.34%
- 5Y*
- 0.29%
- 10Y*
- —
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BNDW vs. BGRN - Expense Ratio Comparison
BNDW has a 0.05% expense ratio, which is lower than BGRN's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
BNDW vs. BGRN — Risk / Return Rank
BNDW
BGRN
BNDW vs. BGRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Bond ETF (BNDW) and iShares USD Green Bond ETF (BGRN). 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.
| BNDW | BGRN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.95 | 1.26 | -0.31 |
Sortino ratioReturn per unit of downside risk | 1.34 | 1.80 | -0.46 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.24 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.01 | -0.67 |
Martin ratioReturn relative to average drawdown | 4.95 | 6.94 | -2.00 |
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
| BNDW | BGRN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.26 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.05 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.44 | -0.06 |
Correlation
The correlation between BNDW and BGRN is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BNDW vs. BGRN - Dividend Comparison
BNDW's dividend yield for the trailing twelve months is around 4.18%, less than BGRN's 4.27% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.18% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% |
BGRN iShares USD Green Bond ETF | 4.27% | 4.21% | 4.07% | 3.52% | 2.66% | 0.78% | 1.82% | 3.66% | 0.21% |
Drawdowns
BNDW vs. BGRN - Drawdown Comparison
The maximum BNDW drawdown since its inception was -17.22%, smaller than the maximum BGRN drawdown of -19.16%. Use the drawdown chart below to compare losses from any high point for BNDW and BGRN.
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Drawdown Indicators
| BNDW | BGRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.22% | -19.16% | +1.94% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -2.23% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -16.93% | -18.73% | +1.80% |
Current DrawdownCurrent decline from peak | -1.85% | -1.61% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -5.90% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.65% | +0.08% |
Volatility
BNDW vs. BGRN - Volatility Comparison
Vanguard Total World Bond ETF (BNDW) has a higher volatility of 1.67% compared to iShares USD Green Bond ETF (BGRN) at 1.45%. This indicates that BNDW's price experiences larger fluctuations and is considered to be riskier than BGRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDW | BGRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.45% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 2.04% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 3.53% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.17% | 5.46% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.92% | 5.03% | -0.11% |