BNDW vs. VEMT.L
BNDW (Vanguard Total World Bond ETF) and VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both exchange-traded funds - BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index, while VEMT.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, BNDW returned 0.10%/yr vs 2.04%/yr for VEMT.L. At a 0.46 correlation, their price movements are largely independent. BNDW charges 0.05%/yr vs 0.25%/yr for VEMT.L.
Performance
BNDW vs. VEMT.L - Performance Comparison
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Different Trading Currencies
BNDW is traded in USD, while VEMT.L is traded in GBP. To make them comparable, the VEMT.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, BNDW achieves a 0.15% return, which is significantly lower than VEMT.L's 0.61% return.
BNDW
- 1D
- -0.09%
- 1M
- -0.41%
- YTD
- 0.15%
- 6M
- 0.41%
- 1Y
- 3.40%
- 3Y*
- 3.95%
- 5Y*
- 0.10%
- 10Y*
- —
VEMT.L
- 1D
- 0.08%
- 1M
- -0.88%
- YTD
- 0.61%
- 6M
- 1.59%
- 1Y
- 8.81%
- 3Y*
- 8.42%
- 5Y*
- 2.04%
- 10Y*
- —
BNDW vs. VEMT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 0.15% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.21% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 0.61% | 11.94% | 6.28% | 8.91% | -15.34% | -1.46% | 5.67% | 14.08% | 0.81% |
Correlation
The correlation between BNDW and VEMT.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.46 |
The correlation between BNDW and VEMT.L shifts across timeframes, from 0.46 (all time) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BNDW vs. VEMT.L — Risk / Return Rank
BNDW
VEMT.L
BNDW vs. VEMT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Bond ETF (BNDW) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L). 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 | VEMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 2.30 | -1.03 |
| Martin ratioReturn relative to average drawdown | 3.52 | 8.42 | -4.90 |
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 | VEMT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.52 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.25 | -0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.38 | -0.02 |
Drawdowns
BNDW vs. VEMT.L - Drawdown Comparison
The maximum BNDW drawdown since its inception was -17.22%, smaller than the maximum VEMT.L drawdown of -24.08%. Use the drawdown chart below to compare losses from any high point for BNDW and VEMT.L.
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Drawdown Indicators
| BNDW | VEMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.22% | -24.08% | +6.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -3.82% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -6.35% | +2.08% |
Max Drawdown (5Y)Largest decline over 5 years | -16.93% | -24.05% | +7.12% |
Current DrawdownCurrent decline from peak | -1.80% | -1.24% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -5.08% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.04% | -0.07% |
Volatility
BNDW vs. VEMT.L - Volatility Comparison
The current volatility for Vanguard Total World Bond ETF (BNDW) is 1.25%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) has a volatility of 1.83%. This indicates that BNDW experiences smaller price fluctuations and is considered to be less risky than VEMT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDW | VEMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.83% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 4.53% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 5.79% | -2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 8.14% | -2.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.90% | 8.62% | -3.72% |
BNDW vs. VEMT.L - Expense Ratio Comparison
BNDW has a 0.05% expense ratio, which is lower than VEMT.L's 0.25% 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%.
Dividends
BNDW vs. VEMT.L - Dividend Comparison
BNDW's dividend yield for the trailing twelve months is around 4.23%, less than VEMT.L's 5.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.23% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.92% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.45% | 4.81% |
Frequently Asked Questions
BNDW and VEMT.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BNDW is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BNDW is cheaper with a 0.05% expense ratio, compared with 0.25% for VEMT.L.
BNDW is categorized as Global Bonds, while VEMT.L is Emerging Markets Bonds. BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index, while VEMT.L tracks JPM EMBI Global Diversified TR USD. Their fees differ too: 0.05% for BNDW and 0.25% for VEMT.L.
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