BNDX vs. IAGG
BNDX (Vanguard Total International Bond ETF) and IAGG (iShares Core International Aggregate Bond ETF) are both Global Bonds funds - BNDX tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) while IAGG tracks the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. Both are passively managed. Over the past 10 years, BNDX returned 1.74%/yr vs 2.22%/yr for IAGG. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
BNDX vs. IAGG - Performance Comparison
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Returns By Period
In the year-to-date period, BNDX achieves a 1.21% return, which is significantly lower than IAGG's 1.64% return. Over the past 10 years, BNDX has underperformed IAGG with an annualized return of 1.74%, while IAGG has yielded a comparatively higher 2.22% annualized return.
BNDX
- 1D
- 0.08%
- 1M
- 1.14%
- YTD
- 1.21%
- 6M
- 1.40%
- 1Y
- 2.25%
- 3Y*
- 4.33%
- 5Y*
- 0.43%
- 10Y*
- 1.74%
IAGG
- 1D
- 0.20%
- 1M
- 1.12%
- YTD
- 1.64%
- 6M
- 1.76%
- 1Y
- 2.69%
- 3Y*
- 4.92%
- 5Y*
- 1.18%
- 10Y*
- 2.22%
BNDX vs. IAGG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 1.21% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
IAGG iShares Core International Aggregate Bond ETF | 1.64% | 3.26% | 4.51% | 8.49% | -10.86% | -1.87% | 4.63% | 7.99% | 3.38% | 2.09% |
Correlation
The correlation between BNDX and IAGG is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2015 | 0.81 |
The correlation between BNDX and IAGG shifts across timeframes, from 0.81 (all time) to 0.92 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BNDX vs. IAGG — Risk / Return Rank
BNDX
IAGG
BNDX vs. IAGG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond ETF (BNDX) and iShares Core International Aggregate Bond ETF (IAGG). 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 | IAGG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.17 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.17 | -0.40 |
| Martin ratioReturn relative to average drawdown | 2.13 | 3.42 | -1.29 |
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Drawdowns
BNDX vs. IAGG - Drawdown Comparison
The maximum BNDX drawdown since its inception was -16.23%, which is greater than IAGG's maximum drawdown of -13.88%. Use the drawdown chart below to compare losses from any high point for BNDX and IAGG.
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Drawdown Indicators
| BNDX | IAGG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.23% | -13.88% | -2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -2.32% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -2.93% | -2.32% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -13.57% | -2.29% |
Max Drawdown (10Y)Largest decline over 10 years | -16.23% | -13.88% | -2.35% |
Current DrawdownCurrent decline from peak | -0.83% | -0.27% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -2.84% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.79% | +0.27% |
Volatility
BNDX vs. IAGG - Volatility Comparison
Vanguard Total International Bond ETF (BNDX) has a higher volatility of 1.13% compared to iShares Core International Aggregate Bond ETF (IAGG) at 0.89%. This indicates that BNDX's price experiences larger fluctuations and is considered to be riskier than IAGG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDX | IAGG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 0.89% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.46% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.45% | 2.86% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.89% | 4.51% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.09% | 4.05% | +0.04% |
BNDX vs. IAGG - Expense Ratio Comparison
Both BNDX and IAGG have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BNDX vs. IAGG - Dividend Comparison
BNDX's dividend yield for the trailing twelve months is around 4.46%, more than IAGG's 3.63% 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% |
IAGG iShares Core International Aggregate Bond ETF | 3.63% | 3.08% | 4.28% | 3.55% | 2.27% | 1.16% | 1.95% | 2.82% | 3.02% | 1.74% | 1.56% | 0.13% |
Frequently Asked Questions
With a correlation of 0.91, BNDX and IAGG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BNDX has higher volatility (1.13%) compared to IAGG (0.89%). In terms of maximum drawdown, BNDX dropped -16.23% vs IAGG's -13.88%.
On 10-year performance, IAGG leads with 2.22% vs 1.74% for BNDX. Both ETFs have the same 0.07% expense ratio. On volatility, IAGG has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IAGG has performed better with a 2.22% return vs 1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDX and IAGG have the same expense ratio: 0.07% per year.
BNDX has the higher dividend yield at 4.46%, compared with 3.63% for IAGG.
BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), while IAGG tracks Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. They also come from different issuers: Vanguard and iShares.
IAGG currently has the higher Sharpe Ratio (0.95 vs 0.66), 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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