BNDX vs. ELD
BNDX (Vanguard Total International Bond ETF) and ELD (WisdomTree Emerging Markets Local Debt Fund) are both exchange-traded funds - BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), while ELD is a Emerging Markets Bonds fund actively managed by WisdomTree. BNDX is passively managed, while ELD is actively managed. Over the past 10 years, BNDX returned 1.65%/yr vs 2.66%/yr for ELD. At a 0.14 correlation, their price movements are largely independent. BNDX charges 0.07%/yr vs 0.55%/yr for ELD.
Performance
BNDX vs. ELD - Performance Comparison
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Returns By Period
In the year-to-date period, BNDX achieves a 0.37% return, which is significantly higher than ELD's -0.49% return. Over the past 10 years, BNDX has underperformed ELD with an annualized return of 1.65%, while ELD has yielded a comparatively higher 2.66% annualized return.
BNDX
- 1D
- -0.12%
- 1M
- -0.16%
- YTD
- 0.37%
- 6M
- 0.55%
- 1Y
- 1.86%
- 3Y*
- 4.01%
- 5Y*
- 0.25%
- 10Y*
- 1.65%
ELD
- 1D
- -0.25%
- 1M
- -1.95%
- YTD
- -0.49%
- 6M
- 1.34%
- 1Y
- 9.35%
- 3Y*
- 6.90%
- 5Y*
- 2.01%
- 10Y*
- 2.66%
BNDX vs. ELD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 0.37% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
ELD WisdomTree Emerging Markets Local Debt Fund | -0.49% | 21.77% | -4.56% | 14.29% | -9.25% | -9.75% | 1.79% | 12.89% | -7.53% | 12.72% |
Correlation
The correlation between BNDX and ELD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.14 |
Over the past year, BNDX and ELD have become more correlated (0.36) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
BNDX vs. ELD — Risk / Return Rank
BNDX
ELD
BNDX vs. ELD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond ETF (BNDX) and WisdomTree Emerging Markets Local Debt Fund (ELD). 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.
| BNDX | ELD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.20 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 1.31 | -0.68 |
| Martin ratioReturn relative to average drawdown | 1.79 | 4.55 | -2.76 |
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
| BNDX | ELD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 1.10 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.18 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.24 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.12 | +0.49 |
Drawdowns
BNDX vs. ELD - Drawdown Comparison
The maximum BNDX drawdown since its inception was -16.23%, smaller than the maximum ELD drawdown of -31.92%. Use the drawdown chart below to compare losses from any high point for BNDX and ELD.
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Drawdown Indicators
| BNDX | ELD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.23% | -31.92% | +15.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -7.15% | +4.22% |
Max Drawdown (3Y)Largest decline over 3 years | -2.93% | -10.89% | +7.96% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -23.56% | +7.70% |
Max Drawdown (10Y)Largest decline over 10 years | -16.23% | -25.15% | +8.92% |
Current DrawdownCurrent decline from peak | -1.65% | -3.94% | +2.29% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -13.30% | +10.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.06% | -1.02% |
Volatility
BNDX vs. ELD - Volatility Comparison
The current volatility for Vanguard Total International Bond ETF (BNDX) is 1.47%, while WisdomTree Emerging Markets Local Debt Fund (ELD) has a volatility of 2.72%. This indicates that BNDX experiences smaller price fluctuations and is considered to be less risky than ELD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDX | ELD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 2.72% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 2.91% | 7.16% | -4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 8.54% | -5.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 10.94% | -6.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.09% | 11.26% | -7.17% |
BNDX vs. ELD - Expense Ratio Comparison
BNDX has a 0.07% expense ratio, which is lower than ELD's 0.55% expense ratio.
Dividends
BNDX vs. ELD - Dividend Comparison
BNDX's dividend yield for the trailing twelve months is around 4.50%, less than ELD's 5.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.50% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
ELD WisdomTree Emerging Markets Local Debt Fund | 5.89% | 5.38% | 5.75% | 4.85% | 5.29% | 4.98% | 4.70% | 4.92% | 6.30% | 4.68% | 4.86% | 5.57% |
Frequently Asked Questions
BNDX and ELD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ELD has higher volatility (2.72%) compared to BNDX (1.47%). In terms of maximum drawdown, BNDX dropped -16.23% vs ELD's -31.92%.
On 10-year performance, ELD leads with 2.66% vs 1.65% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ELD has performed better with a 2.66% return vs 1.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDX is cheaper with a 0.07% expense ratio, compared with 0.55% for ELD.
ELD has the higher dividend yield at 5.89%, compared with 4.50% for BNDX.
BNDX is categorized as Global Bonds, while ELD is Emerging Markets Bonds. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.07% for BNDX and 0.55% for ELD.
ELD currently has the higher Sharpe Ratio (1.10 vs 0.54), 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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