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BNDW vs. EWU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNDW vs. EWU

Last updated Jun 4, 2026

BNDW (Vanguard Total World Bond ETF) and EWU (iShares MSCI United Kingdom ETF) are both exchange-traded funds - BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index, while EWU is a Europe Equities fund tracking the MSCI United Kingdom Index. Both are passively managed. Over the past 5 years, BNDW returned 0.22%/yr vs 10.64%/yr for EWU. At a 0.10 correlation, their price movements are largely independent. BNDW charges 0.05%/yr vs 0.50%/yr for EWU.

Performance

BNDW vs. EWU - Performance Comparison

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

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Returns By Period

In the year-to-date period, BNDW achieves a 0.42% return, which is significantly lower than EWU's 5.55% return.

BNDW

1D
-0.26%
1M
0.44%
YTD
0.42%
6M
0.18%
1Y
3.51%
3Y*
3.99%
5Y*
0.22%
10Y*
—

EWU

1D
-1.09%
1M
-0.00%
YTD
5.55%
6M
8.87%
1Y
20.53%
3Y*
17.10%
5Y*
10.64%
10Y*
7.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDW vs. EWU - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
BNDW
Vanguard Total World Bond ETF		0.42%5.02%2.42%7.18%-12.88%-2.10%6.22%8.37%1.21%
EWU
iShares MSCI United Kingdom ETF		5.55%34.95%6.74%12.40%-4.39%18.19%-11.80%21.29%-9.18%

Correlation

The correlation between BNDW and EWU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.47

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

0.34

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (All Time)
Calculated using the full available price history since Sep 7, 2018

0.10

Over the past year, BNDW and EWU have become more correlated (0.47) than their long-term average of 0.10, meaning their price movements have been converging.

BNDW vs. EWU - Sectors Allocation Comparison

Sectors
BNDW
EWU

Technology

100.0%
0.6%

Basic Materials

-

9.3%

Communication Services

-

2.4%

Consumer Cyclical

-

4.0%

Consumer Defensive

-

14.2%

Energy

-

11.0%

Financial Services

-

26.0%

Healthcare

-

13.9%

Industrials

-

12.1%

Real Estate

-

0.6%

Utilities

-

5.1%

Technology

BNDW
100.0%
EWU
0.6%

Basic Materials

BNDW

-

EWU
9.3%

Communication Services

BNDW

-

EWU
2.4%

Consumer Cyclical

BNDW

-

EWU
4.0%

Consumer Defensive

BNDW

-

EWU
14.2%

Energy

BNDW

-

EWU
11.0%

Financial Services

BNDW

-

EWU
26.0%

Healthcare

BNDW

-

EWU
13.9%

Industrials

BNDW

-

EWU
12.1%

Real Estate

BNDW

-

EWU
0.6%

Utilities

BNDW

-

EWU
5.1%

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

iShares MSCI United Kingdom ETF

Often compared with BNDW:
BNDW vs. BNDBNDW vs. BNDXBNDW vs. VTBNDW vs. VGITBNDW vs. VOOBNDW vs. AGGG.LBNDW vs. VAGU.L
Often compared with EWU:
EWU vs. FLGBEWU vs. EWUSEWU vs. SPYEWU vs. FEZEWU vs. FKUEWU vs. VOOEWU vs. VEA

Return for Risk

BNDW vs. EWU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNDW
BNDW Risk / Return Rank: 2727
Overall Rank
BNDW Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
BNDW Sortino Ratio Rank: 2727
Sortino Ratio Rank
BNDW Omega Ratio Rank: 2626
Omega Ratio Rank
BNDW Calmar Ratio Rank: 2727
Calmar Ratio Rank
BNDW Martin Ratio Rank: 2626
Martin Ratio Rank
EWU
EWU Risk / Return Rank: 4141
Overall Rank
EWU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
EWU Sortino Ratio Rank: 3939
Sortino Ratio Rank
EWU Omega Ratio Rank: 3939
Omega Ratio Rank
EWU Calmar Ratio Rank: 4242
Calmar Ratio Rank
EWU Martin Ratio Rank: 4646
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. EWU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Bond ETF (BNDW) and iShares MSCI United Kingdom ETF (EWU). 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.

BNDWEWUDifference
Sharpe ratioReturn per unit of total volatility
1.05
1.44

-0.39

Sortino ratioReturn per unit of downside risk
1.50
2.05

-0.55

Omega ratioGain probability vs. loss probability

1.18

1.26

-0.07

Calmar ratioReturn relative to maximum drawdown

1.31

2.08

-0.77

Martin ratioReturn relative to average drawdown

3.70

7.54

-3.84

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. EWU - Sharpe Ratio Comparison

The current BNDW Sharpe Ratio is 1.05, which is comparable to the EWU Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of BNDW and EWU, 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

BNDWEWUDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.05

1.44

-0.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.04

0.65

-0.61

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.41

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.26

+0.11

Drawdowns

BNDW vs. EWU - Drawdown Comparison

The maximum BNDW drawdown since its inception was -17.22%, smaller than the maximum EWU drawdown of -63.99%. Use the drawdown chart below to compare losses from any high point for BNDW and EWU.

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Drawdown Indicators

BNDWEWUDifference

Max Drawdown

Largest peak-to-trough decline

-17.22%

-63.99%

+46.77%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

-9.92%

+7.22%

Max Drawdown (3Y)

Largest decline over 3 years

-4.27%

-12.63%

+8.36%

Max Drawdown (5Y)

Largest decline over 5 years

-16.93%

-24.91%

+7.98%

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.33%

—

Current Drawdown

Current decline from peak

-1.53%

-4.64%

+3.11%

Average Drawdown

Average peak-to-trough decline

-4.98%

-14.16%

+9.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

2.73%

-1.78%

Volatility

BNDW vs. EWU - Volatility Comparison

The current volatility for Vanguard Total World Bond ETF (BNDW) is 1.31%, while iShares MSCI United Kingdom ETF (EWU) has a volatility of 5.56%. This indicates that BNDW experiences smaller price fluctuations and is considered to be less risky than EWU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNDWEWUDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.31%

5.56%

-4.25%

Volatility (6M)

Calculated over the trailing 6-month period

2.62%

12.30%

-9.68%

Volatility (1Y)

Calculated over the trailing 1-year period

3.36%

14.39%

-11.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.21%

16.43%

-11.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.90%

18.84%

-13.94%

BNDW vs. EWU - Expense Ratio Comparison

BNDW has a 0.05% expense ratio, which is lower than EWU's 0.50% expense ratio.

Dividends

BNDW vs. EWU - Dividend Comparison

BNDW's dividend yield for the trailing twelve months is around 4.21%, more than EWU's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
BNDW
Vanguard Total World Bond ETF		4.21%4.12%3.90%3.73%2.02%2.58%1.56%3.05%1.66%0.00%0.00%0.00%
EWU
iShares MSCI United Kingdom ETF		3.53%3.73%4.16%4.14%3.43%4.35%2.48%4.13%4.98%3.91%3.97%4.11%

Frequently Asked Questions

BNDW and EWU have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EWU has higher volatility (5.56%) compared to BNDW (1.31%). In terms of maximum drawdown, BNDW dropped -17.22% vs EWU's -63.99%.

On 5-year performance, EWU leads with 10.64% vs 0.22% for BNDW. On fees, BNDW is cheaper at 0.05% per year. On volatility, BNDW has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EWU has performed better with a 10.64% return vs 0.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BNDW is cheaper with a 0.05% expense ratio, compared with 0.50% for EWU.

BNDW has the higher dividend yield at 4.21%, compared with 3.53% for EWU.

BNDW is categorized as Global Bonds, while EWU is Europe Equities. BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index, while EWU tracks MSCI United Kingdom Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for BNDW and 0.50% for EWU.

EWU currently has the higher Sharpe Ratio (1.44 vs 1.05), 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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