BNDX vs. PONAX
BNDX (Vanguard Total International Bond ETF) and PONAX (PIMCO Income Fund Class A) are both funds - BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), while PONAX is a Multisector Bonds fund managed by PIMCO. Over the past 10 years, BNDX returned 1.69%/yr vs 4.22%/yr for PONAX. At a 0.39 correlation, their price movements are largely independent. BNDX charges 0.07%/yr vs 1.02%/yr for PONAX.
Performance
BNDX vs. PONAX - Performance Comparison
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Returns By Period
In the year-to-date period, BNDX achieves a 0.85% return, which is significantly higher than PONAX's 0.18% return. Over the past 10 years, BNDX has underperformed PONAX with an annualized return of 1.69%, while PONAX has yielded a comparatively higher 4.22% annualized return.
BNDX
- 1D
- 0.58%
- 1M
- 1.01%
- YTD
- 0.85%
- 6M
- 0.99%
- 1Y
- 1.99%
- 3Y*
- 4.13%
- 5Y*
- 0.29%
- 10Y*
- 1.69%
PONAX
- 1D
- 0.00%
- 1M
- 0.23%
- YTD
- 0.18%
- 6M
- 0.83%
- 1Y
- 6.76%
- 3Y*
- 7.14%
- 5Y*
- 2.94%
- 10Y*
- 4.22%
BNDX vs. PONAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 0.85% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
PONAX PIMCO Income Fund Class A | 0.18% | 10.63% | 5.02% | 8.96% | -9.34% | 2.21% | 5.40% | 7.65% | 0.21% | 8.19% |
Correlation
The correlation between BNDX and PONAX is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.39 |
Over the past year, BNDX and PONAX have become more correlated (0.73) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
BNDX vs. PONAX — Risk / Return Rank
BNDX
PONAX
BNDX vs. PONAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond ETF (BNDX) and PIMCO Income Fund Class A (PONAX). 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 | PONAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.33 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.68 | 1.93 | -1.24 |
| Martin ratioReturn relative to average drawdown | 1.90 | 6.45 | -4.54 |
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Drawdowns
BNDX vs. PONAX - Drawdown Comparison
The maximum BNDX drawdown since its inception was -16.23%, which is greater than PONAX's maximum drawdown of -13.64%. Use the drawdown chart below to compare losses from any high point for BNDX and PONAX.
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Drawdown Indicators
| BNDX | PONAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.23% | -13.64% | -2.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -3.69% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -2.93% | -3.90% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -13.64% | -2.22% |
Max Drawdown (10Y)Largest decline over 10 years | -16.23% | -13.64% | -2.59% |
Current DrawdownCurrent decline from peak | -1.18% | -1.67% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -1.79% | -1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.10% | -0.05% |
Volatility
BNDX vs. PONAX - Volatility Comparison
The current volatility for Vanguard Total International Bond ETF (BNDX) is 1.50%, while PIMCO Income Fund Class A (PONAX) has a volatility of 1.62%. This indicates that BNDX experiences smaller price fluctuations and is considered to be less risky than PONAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDX | PONAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.62% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 3.30% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 4.10% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.89% | 4.82% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.10% | 4.22% | -0.12% |
BNDX vs. PONAX - Expense Ratio Comparison
BNDX has a 0.07% expense ratio, which is lower than PONAX's 1.02% expense ratio.
Dividends
BNDX vs. PONAX - Dividend Comparison
BNDX's dividend yield for the trailing twelve months is around 4.48%, less than PONAX's 5.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.48% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
PONAX PIMCO Income Fund Class A | 5.46% | 5.61% | 5.86% | 5.86% | 4.66% | 3.62% | 4.48% | 5.42% | 5.24% | 4.97% | 5.13% | 7.45% |
Frequently Asked Questions
BNDX and PONAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PONAX has higher volatility (1.62%) compared to BNDX (1.50%). In terms of maximum drawdown, BNDX dropped -16.23% vs PONAX's -13.64%.
PONAX currently has the higher Sharpe Ratio (1.74 vs 0.58), 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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