BNDW vs. JPIB
BNDW (Vanguard Total World Bond ETF) and JPIB (JPMorgan International Bond Opportunities ETF) are both Global Bonds funds. BNDW is passively managed, while JPIB is actively managed. Over the past 5 years, BNDW returned 0.27%/yr vs 2.81%/yr for JPIB. At a 0.49 correlation, their price movements are largely independent. BNDW charges 0.05%/yr vs 0.50%/yr for JPIB.
Performance
BNDW vs. JPIB - Performance Comparison
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Returns By Period
In the year-to-date period, BNDW achieves a 0.88% return, which is significantly lower than JPIB's 1.10% return.
BNDW
- 1D
- 0.15%
- 1M
- 0.77%
- YTD
- 0.88%
- 6M
- 0.88%
- 1Y
- 3.23%
- 3Y*
- 4.10%
- 5Y*
- 0.27%
- 10Y*
- —
JPIB
- 1D
- -0.04%
- 1M
- 0.94%
- YTD
- 1.10%
- 6M
- 1.25%
- 1Y
- 4.85%
- 3Y*
- 5.96%
- 5Y*
- 2.81%
- 10Y*
- —
BNDW vs. JPIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 0.88% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.27% |
JPIB JPMorgan International Bond Opportunities ETF | 1.10% | 8.19% | 3.48% | 8.68% | -6.38% | 0.14% | 7.14% | 10.76% | -0.95% |
Correlation
The correlation between BNDW and JPIB is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2018 | 0.49 |
Over the past year, BNDW and JPIB have become more correlated (0.73) than their long-term average of 0.49, meaning their price movements have been converging.
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Return for Risk
BNDW vs. JPIB — Risk / Return Rank
BNDW
JPIB
BNDW vs. JPIB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Bond ETF (BNDW) and JPMorgan International Bond Opportunities ETF (JPIB). 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.
| BNDW | JPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 1.30 | -0.09 |
| Martin ratioReturn relative to average drawdown | 3.24 | 4.42 | -1.18 |
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Drawdowns
BNDW vs. JPIB - Drawdown Comparison
The maximum BNDW drawdown since its inception was -17.22%, which is greater than JPIB's maximum drawdown of -13.13%. Use the drawdown chart below to compare losses from any high point for BNDW and JPIB.
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Drawdown Indicators
| BNDW | JPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.22% | -13.13% | -4.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -3.75% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -3.75% | -0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -16.93% | -11.83% | -5.10% |
Current DrawdownCurrent decline from peak | -1.08% | -0.77% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -1.93% | -3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.00% | 1.10% | -0.10% |
Volatility
BNDW vs. JPIB - Volatility Comparison
The current volatility for Vanguard Total World Bond ETF (BNDW) is 0.92%, while JPMorgan International Bond Opportunities ETF (JPIB) has a volatility of 1.06%. This indicates that BNDW experiences smaller price fluctuations and is considered to be less risky than JPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDW | JPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 1.06% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 3.09% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 3.57% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.22% | 4.12% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.89% | 4.44% | +0.45% |
BNDW vs. JPIB - Expense Ratio Comparison
BNDW has a 0.05% expense ratio, which is lower than JPIB's 0.50% expense ratio.
Dividends
BNDW vs. JPIB - Dividend Comparison
BNDW's dividend yield for the trailing twelve months is around 4.19%, less than JPIB's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.19% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% |
JPIB JPMorgan International Bond Opportunities ETF | 5.00% | 4.85% | 4.57% | 4.35% | 3.10% | 2.59% | 3.14% | 4.66% | 5.83% | 1.81% |
Frequently Asked Questions
BNDW and JPIB have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPIB has higher volatility (1.06%) compared to BNDW (0.92%). In terms of maximum drawdown, BNDW dropped -17.22% vs JPIB's -13.13%.
On 5-year performance, JPIB leads with 2.81% vs 0.27% for BNDW. On fees, BNDW is cheaper at 0.05% per year. On volatility, BNDW has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, JPIB has performed better with a 2.81% return vs 0.27%. 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 JPIB.
JPIB has the higher dividend yield at 5.00%, compared with 4.19% for BNDW.
They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.05% for BNDW and 0.50% for JPIB.
JPIB currently has the higher Sharpe Ratio (1.36 vs 0.97), 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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