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BNDW vs. VWRL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNDW vs. VWRL.L

Last updated Jun 9, 2026

BNDW (Vanguard Total World Bond ETF) and VWRL.L (Vanguard FTSE All-World UCITS ETF Distributing) are both exchange-traded funds - BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index, while VWRL.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, BNDW returned 0.10%/yr vs 10.81%/yr for VWRL.L. At a 0.08 correlation, their price movements are largely independent. BNDW charges 0.05%/yr vs 0.19%/yr for VWRL.L.

Performance

BNDW vs. VWRL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total World Bond ETF (BNDW) and Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

BNDW is traded in USD, while VWRL.L is traded in GBP. To make them comparable, the VWRL.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 VWRL.L's 9.58% return.

BNDW

1D
-0.09%
1M
-0.41%
YTD
0.15%
6M
0.41%
1Y
3.40%
3Y*
3.95%
5Y*
0.10%
10Y*
—

VWRL.L

1D
0.00%
1M
0.31%
YTD
9.58%
6M
10.87%
1Y
25.94%
3Y*
20.13%
5Y*
10.81%
10Y*
12.64%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDW vs. VWRL.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
BNDW
Vanguard Total World Bond ETF		0.15%5.02%2.42%7.18%-12.88%-2.10%6.22%8.37%1.21%
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		9.41%22.59%17.61%21.71%-18.22%18.96%15.56%26.94%-10.60%

Correlation

The correlation between BNDW and VWRL.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.33

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

0.23

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

0.17

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

0.08

Over the past year, BNDW and VWRL.L have become more correlated (0.33) than their long-term average of 0.08, meaning their price movements have been converging.

BNDW vs. VWRL.L - Sectors Allocation Comparison

Sectors
BNDW
VWRL.L

Technology

100.0%
29.5%

Basic Materials

-

3.8%

Communication Services

-

8.7%

Consumer Cyclical

-

9.2%

Consumer Defensive

-

5.0%

Energy

-

4.2%

Financial Services

-

16.2%

Healthcare

-

8.0%

Industrials

-

10.4%

Real Estate

-

1.8%

Utilities

-

2.9%

Technology

BNDW
100.0%
VWRL.L
29.5%

Basic Materials

BNDW

-

VWRL.L
3.8%

Communication Services

BNDW

-

VWRL.L
8.7%

Consumer Cyclical

BNDW

-

VWRL.L
9.2%

Consumer Defensive

BNDW

-

VWRL.L
5.0%

Energy

BNDW

-

VWRL.L
4.2%

Financial Services

BNDW

-

VWRL.L
16.2%

Healthcare

BNDW

-

VWRL.L
8.0%

Industrials

BNDW

-

VWRL.L
10.4%

Real Estate

BNDW

-

VWRL.L
1.8%

Utilities

BNDW

-

VWRL.L
2.9%

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 FTSE All-World UCITS ETF Distributing

Often compared with BNDW:
BNDW vs. BNDBNDW vs. BNDXBNDW vs. VTBNDW vs. VGITBNDW vs. VOOBNDW vs. AGGG.LBNDW vs. VAGU.L
Often compared with VWRL.L:
VWRL.L vs. ACWIVWRL.L vs. VHYL.ASVWRL.L vs. VHVG.LVWRL.L vs. VUSA.LVWRL.L vs. VOOVWRL.L vs. VHYG.LVWRL.L vs. VEVE.L

Return for Risk

BNDW vs. VWRL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNDW
BNDW Risk / Return Rank: 2929
Overall Rank
BNDW Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
BNDW Sortino Ratio Rank: 2929
Sortino Ratio Rank
BNDW Omega Ratio Rank: 2929
Omega Ratio Rank
BNDW Calmar Ratio Rank: 2929
Calmar Ratio Rank
BNDW Martin Ratio Rank: 2727
Martin Ratio Rank
VWRL.L
VWRL.L Risk / Return Rank: 8686
Overall Rank
VWRL.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
VWRL.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
VWRL.L Omega Ratio Rank: 8888
Omega Ratio Rank
VWRL.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
VWRL.L Martin Ratio Rank: 8484
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. VWRL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Bond ETF (BNDW) and Vanguard FTSE All-World UCITS ETF Distributing (VWRL.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.

BNDWVWRL.LDifference
Sharpe ratioReturn per unit of total volatility
1.02
2.17

-1.15

Sortino ratioReturn per unit of downside risk
1.46
3.17

-1.71

Omega ratioGain probability vs. loss probability

1.18

1.39

-0.22

Calmar ratioReturn relative to maximum drawdown

1.26

2.84

-1.57

Martin ratioReturn relative to average drawdown

3.52

12.31

-8.79

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. VWRL.L - Sharpe Ratio Comparison

The current BNDW Sharpe Ratio is 1.02, which is lower than the VWRL.L Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BNDW and VWRL.L, 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

BNDWVWRL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.02

2.17

-1.15

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.02

0.72

-0.70

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.81

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.79

-0.42

Drawdowns

BNDW vs. VWRL.L - Drawdown Comparison

The maximum BNDW drawdown since its inception was -17.22%, smaller than the maximum VWRL.L drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for BNDW and VWRL.L.

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Drawdown Indicators

BNDWVWRL.LDifference

Max Drawdown

Largest peak-to-trough decline

-17.22%

-33.11%

+15.89%

Max Drawdown (1Y)

Largest decline over 1 year

-2.70%

-9.11%

+6.41%

Max Drawdown (3Y)

Largest decline over 3 years

-4.27%

-16.28%

+12.01%

Max Drawdown (5Y)

Largest decline over 5 years

-16.93%

-26.74%

+9.81%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.11%

—

Current Drawdown

Current decline from peak

-1.80%

-2.59%

+0.79%

Average Drawdown

Average peak-to-trough decline

-4.97%

-4.53%

-0.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.97%

2.10%

-1.13%

Volatility

BNDW vs. VWRL.L - Volatility Comparison

The current volatility for Vanguard Total World Bond ETF (BNDW) is 1.25%, while Vanguard FTSE All-World UCITS ETF Distributing (VWRL.L) has a volatility of 3.54%. This indicates that BNDW experiences smaller price fluctuations and is considered to be less risky than VWRL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNDWVWRL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.25%

3.54%

-2.29%

Volatility (6M)

Calculated over the trailing 6-month period

2.64%

9.29%

-6.65%

Volatility (1Y)

Calculated over the trailing 1-year period

3.34%

11.92%

-8.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.21%

15.08%

-9.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.90%

15.56%

-10.66%

BNDW vs. VWRL.L - Expense Ratio Comparison

BNDW has a 0.05% expense ratio, which is lower than VWRL.L's 0.19% 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. VWRL.L - Dividend Comparison

BNDW's dividend yield for the trailing twelve months is around 4.23%, more than VWRL.L's 1.26% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%0.00%
VWRL.L
Vanguard FTSE All-World UCITS ETF Distributing		1.26%1.39%1.49%1.72%2.03%1.45%1.58%1.95%2.22%1.90%1.95%2.00%

Frequently Asked Questions

BNDW and VWRL.L have a correlation of 0.33, 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 0.19% for VWRL.L.

BNDW is categorized as Global Bonds, while VWRL.L is Global Equities. BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index, while VWRL.L tracks FTSE All-World Index. Their fees differ too: 0.05% for BNDW and 0.19% for VWRL.L.

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