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BNDW vs. BNDX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

BNDW vs. BNDX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Total World Bond ETF (BNDW) and Vanguard Total International Bond ETF (BNDX).

BNDW and BNDX 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. BNDX is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). It was launched on May 31, 2013. Both BNDW and BNDX 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. BNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total World Bond ETF (BNDW) and Vanguard Total International Bond ETF (BNDX). The values are adjusted to include any dividend payments, if applicable.

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BNDW vs. BNDX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
BNDW
Vanguard Total World Bond ETF		0.09%5.02%2.42%7.18%-12.88%-2.10%6.22%8.37%1.21%
BNDX
Vanguard Total International Bond ETF		0.02%2.86%3.57%8.77%-12.76%-2.29%4.65%7.87%1.44%

Returns By Period

In the year-to-date period, BNDW achieves a 0.09% return, which is significantly higher than BNDX's 0.02% return.

BNDW

1D
0.13%
1M
-1.46%
YTD
0.09%
6M
0.53%
1Y
3.34%
3Y*
3.77%
5Y*
0.23%
10Y*
—

BNDX

1D
0.15%
1M
-1.65%
YTD
0.02%
6M
0.27%
1Y
2.71%
3Y*
3.88%
5Y*
0.20%
10Y*
1.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Total World Bond ETF

Vanguard Total International Bond ETF

Often compared with BNDW:
BNDW vs. BNDBNDW vs. VTBNDW vs. VGITBNDW vs. VOOBNDW vs. AGGG.LBNDW vs. SCHZBNDW vs. AGG
Often compared with BNDX:
BNDX vs. BNDBNDX vs. VTABXBNDX vs. IAGGBNDX vs. IGOVBNDX vs. FBIIXBNDX vs. VWOBBNDX vs. FBND

BNDW vs. BNDX - Expense Ratio Comparison

BNDW has a 0.05% expense ratio, which is lower than BNDX's 0.07% 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%.

BNDX
Vanguard Total International Bond ETF
BNDW
Vanguard Total World Bond ETF

Return for Risk

BNDW vs. BNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNDW
BNDW Risk / Return Rank: 4747
Overall Rank
BNDW Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
BNDW Sortino Ratio Rank: 4747
Sortino Ratio Rank
BNDW Omega Ratio Rank: 4141
Omega Ratio Rank
BNDW Calmar Ratio Rank: 5050
Calmar Ratio Rank
BNDW Martin Ratio Rank: 4949
Martin Ratio Rank
BNDX
BNDX Risk / Return Rank: 4040
Overall Rank
BNDX Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
BNDX Sortino Ratio Rank: 4040
Sortino Ratio Rank
BNDX Omega Ratio Rank: 3636
Omega Ratio Rank
BNDX Calmar Ratio Rank: 3838
Calmar Ratio Rank
BNDX Martin Ratio Rank: 4242
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.

BNDW vs. BNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Bond ETF (BNDW) and Vanguard Total International Bond ETF (BNDX). 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.

BNDWBNDXDifference

Sharpe ratio

Return per unit of total volatility

0.95

0.85

+0.10

Sortino ratio

Return per unit of downside risk

1.34

1.19

+0.15

Omega ratio

Gain probability vs. loss probability

1.17

1.15

+0.02

Calmar ratio

Return relative to maximum drawdown

1.35

1.01

+0.34

Martin ratio

Return relative to average drawdown

4.95

4.10

+0.85

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

BNDW vs. BNDX - Sharpe Ratio Comparison

The current BNDW Sharpe Ratio is 0.95, which is comparable to the BNDX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of BNDW and BNDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

BNDWBNDXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.95

0.85

+0.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.04

0.04

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.43

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.61

-0.23

Correlation

The correlation between BNDW and BNDX is 0.91, 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. BNDX - Dividend Comparison

BNDW's dividend yield for the trailing twelve months is around 4.18%, less than BNDX's 4.46% yield.

TTM20252024202320222021202020192018201720162015
BNDW
Vanguard Total World Bond ETF		4.18%4.12%3.90%3.73%2.02%2.58%1.56%3.05%1.66%0.00%0.00%0.00%
BNDX
Vanguard Total International Bond ETF		4.46%4.39%4.18%4.42%1.51%3.74%1.11%3.40%3.01%2.23%1.89%1.63%

Drawdowns

BNDW vs. BNDX - Drawdown Comparison

The maximum BNDW drawdown since its inception was -17.22%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for BNDW and BNDX.

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Drawdown Indicators

BNDWBNDXDifference

Max Drawdown

Largest peak-to-trough decline

-17.22%

-16.23%

-0.99%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

-2.93%

+0.23%

Max Drawdown (5Y)

Largest decline over 5 years

-16.93%

-15.86%

-1.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-16.23%

—

Current Drawdown

Current decline from peak

-1.85%

-1.99%

+0.14%

Average Drawdown

Average peak-to-trough decline

-5.05%

-3.10%

-1.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.73%

0.72%

+0.01%

Volatility

BNDW vs. BNDX - Volatility Comparison

Vanguard Total World Bond ETF (BNDW) and Vanguard Total International Bond ETF (BNDX) have volatilities of 1.67% and 1.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNDWBNDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.67%

1.74%

-0.07%

Volatility (6M)

Calculated over the trailing 6-month period

2.29%

2.29%

0.00%

Volatility (1Y)

Calculated over the trailing 1-year period

3.53%

3.21%

+0.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.17%

4.81%

+0.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.92%

4.05%

+0.87%