BNDX vs. FFUT

Last updated Jun 24, 2026

BNDX (Vanguard Total International Bond ETF) and FFUT (Fidelity Managed Futures ETF) 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 FFUT is a Systematic Trend fund actively managed by Fidelity. BNDX is passively managed, while FFUT is actively managed. Over the past year, BNDX returned 2.23% vs 18.72% for FFUT. At a correlation of -0.30, they often move in opposite directions. BNDX charges 0.07%/yr vs 0.80%/yr for FFUT.

Performance

BNDX vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total International Bond ETF (BNDX) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDX achieves a 1.27% return, which is significantly lower than FFUT's 8.83% return.

BNDX

• 1D: 0.23%
• 1M: 0.90%
• YTD: 1.27%
• 6M: 1.25%
• 1Y: 2.23%
• 3Y*: 4.22%
• 5Y*: 0.46%
• 10Y*: 1.74%

FFUT

• 1D: -0.36%
• 1M: -2.69%
• YTD: 8.83%
• 6M: 9.28%
• 1Y: 18.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDX vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
BNDX Vanguard Total International Bond ETF	1.27%	1.21%
FFUT Fidelity Managed Futures ETF	8.83%	8.58%

Correlation

The correlation between BNDX and FFUT is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.30
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	-0.30

Return for Risk

BNDX vs. FFUT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNDX

BNDX Risk / Return Rank: 18
BNDX Sharpe Ratio Rank: 19
BNDX Sortino Ratio Rank: 18
BNDX Omega Ratio Rank: 18
BNDX Calmar Ratio Rank: 18
BNDX Martin Ratio Rank: 19

FFUT

FFUT Risk / Return Rank: 64
FFUT Sharpe Ratio Rank: 51
FFUT Sortino Ratio Rank: 51
FFUT Omega Ratio Rank: 54
FFUT Calmar Ratio Rank: 84
FFUT Martin Ratio Rank: 79

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.

BNDX vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond ETF (BNDX) and Fidelity Managed Futures ETF (FFUT). 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.

	BNDX	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	0.65	1.68	-1.03
Sortino ratio: Return per unit of downside risk	0.94	2.40	-1.45
Omega ratio: Gain probability vs. loss probability	1.12	1.32	-0.20
Calmar ratio: Return relative to maximum drawdown	0.76	4.35	-3.58
Martin ratio: Return relative to average drawdown	2.11	14.55	-12.45

BNDX vs. FFUT - Sharpe Ratio Comparison

The current BNDX Sharpe Ratio is 0.65, which is lower than the FFUT Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of BNDX and FFUT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BNDX vs. FFUT - Drawdown Comparison

The maximum BNDX drawdown since its inception was -16.23%, which is greater than FFUT's maximum drawdown of -4.33%. Use the drawdown chart below to compare losses from any high point for BNDX and FFUT.

Drawdown Indicators

	BNDX	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-16.23%	-4.33%	-11.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.93%	-4.33%	+1.40%
Max Drawdown (3Y) Largest decline over 3 years	-2.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.23%	—	—
Current Drawdown Current decline from peak	-0.77%	-4.33%	+3.56%
Average Drawdown Average peak-to-trough decline	-3.10%	-0.96%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	1.29%	-0.23%

Volatility

BNDX vs. FFUT - Volatility Comparison

The current volatility for Vanguard Total International Bond ETF (BNDX) is 0.97%, while Fidelity Managed Futures ETF (FFUT) has a volatility of 2.93%. This indicates that BNDX experiences smaller price fluctuations and is considered to be less risky than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDX	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	2.93%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	8.97%	-5.99%
Volatility (1Y) Calculated over the trailing 1-year period	3.46%	11.22%	-7.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.89%	11.02%	-6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.09%	11.02%	-6.93%

BNDX vs. FFUT - Expense Ratio Comparison

BNDX has a 0.07% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

BNDX vs. FFUT - Dividend Comparison

BNDX's dividend yield for the trailing twelve months is around 4.46%, more than FFUT's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDX Vanguard Total International Bond ETF	4.46%	4.39%	4.18%	4.42%	1.51%	3.74%	1.11%	3.40%	3.01%	2.23%	1.89%	1.63%
FFUT Fidelity Managed Futures ETF	1.92%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNDX and FFUT in my portfolio?

BNDX and FFUT have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDX or FFUT?

FFUT has higher volatility (2.93%) compared to BNDX (0.97%). In terms of maximum drawdown, BNDX dropped -16.23% vs FFUT's -4.33%.

Which ETF is better, BNDX or FFUT?

On 1-year performance, FFUT leads with 18.72% vs 2.23% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDX or FFUT?

Over the 1-year period, FFUT has performed better with a 18.72% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDX or FFUT?

BNDX is cheaper with a 0.07% expense ratio, compared with 0.80% for FFUT.

Which ETF pays a higher dividend yield, BNDX or FFUT?

BNDX has the higher dividend yield at 4.46%, compared with 1.92% for FFUT.

What is the main difference between BNDX and FFUT?

BNDX is categorized as Global Bonds, while FFUT is Systematic Trend. They also come from different issuers: Vanguard and Fidelity. Their fees differ too: 0.07% for BNDX and 0.80% for FFUT.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (1.68 vs 0.65), 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.