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BNDX vs. SLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNDX vs. SLV

Last updated Jun 13, 2026

BNDX (Vanguard Total International Bond ETF) and SLV (iShares Silver Trust) 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 SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, BNDX returned 1.72%/yr vs 13.99%/yr for SLV. At a 0.17 correlation, their price movements are largely independent. BNDX charges 0.07%/yr vs 0.50%/yr for SLV.

Performance

BNDX vs. SLV - Performance Comparison

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

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Returns By Period

In the year-to-date period, BNDX achieves a 1.02% return, which is significantly higher than SLV's -4.86% return. Over the past 10 years, BNDX has underperformed SLV with an annualized return of 1.72%, while SLV has yielded a comparatively higher 13.99% annualized return.

BNDX

1D
0.17%
1M
0.99%
YTD
1.02%
6M
1.22%
1Y
1.94%
3Y*
4.32%
5Y*
0.32%
10Y*
1.72%

SLV

1D
0.77%
1M
-22.76%
YTD
-4.86%
6M
9.25%
1Y
85.39%
3Y*
41.27%
5Y*
18.83%
10Y*
13.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDX vs. SLV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BNDX
Vanguard Total International Bond ETF		1.02%2.86%3.57%8.77%-12.76%-2.29%4.65%7.87%2.81%2.40%
SLV
iShares Silver Trust		-4.86%144.66%20.89%-1.09%2.37%-12.45%47.30%14.88%-9.19%5.82%

Correlation

The correlation between BNDX and SLV is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.15

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

0.20

Correlation (10Y)
Calculated over the trailing 10-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2013

0.17

The correlation between BNDX and SLV shifts across timeframes, from 0.15 (3 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.

BNDX vs. SLV - Sectors Allocation Comparison

Sectors
BNDX
SLV

Real Estate

0.0%

-

Financial Services

0.0%

-

Industrials

0.0%

-

Energy

0.0%

-

Communication Services

0.0%

-

Utilities

0.0%

-

Healthcare

0.0%

-

Basic Materials

-

100.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Technology

-

-

Real Estate

BNDX
0.0%
SLV

-

Financial Services

BNDX
0.0%
SLV

-

Industrials

BNDX
0.0%
SLV

-

Energy

BNDX
0.0%
SLV

-

Communication Services

BNDX
0.0%
SLV

-

Utilities

BNDX
0.0%
SLV

-

Healthcare

BNDX
0.0%
SLV

-

Basic Materials

BNDX

-

SLV
100.0%

Consumer Cyclical

BNDX

-

SLV

-

Consumer Defensive

BNDX

-

SLV

-

Technology

BNDX

-

SLV

-

Compare stocks, funds, or ETFs

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Vanguard Total International Bond ETF

iShares Silver Trust

Often compared with BNDX:
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Often compared with SLV:
SLV vs. GLDSLV vs. SIVRSLV vs. PSLVSLV vs. SILSLV vs. SILJSLV vs. SLVPSLV vs. AGQ

Return for Risk

BNDX vs. SLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNDX
BNDX Risk / Return Rank: 1818
Overall Rank
BNDX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
BNDX Sortino Ratio Rank: 1818
Sortino Ratio Rank
BNDX Omega Ratio Rank: 1818
Omega Ratio Rank
BNDX Calmar Ratio Rank: 1818
Calmar Ratio Rank
BNDX Martin Ratio Rank: 1919
Martin Ratio Rank
SLV
SLV Risk / Return Rank: 4242
Overall Rank
SLV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SLV Sortino Ratio Rank: 3838
Sortino Ratio Rank
SLV Omega Ratio Rank: 5353
Omega Ratio Rank
SLV Calmar Ratio Rank: 4343
Calmar Ratio Rank
SLV Martin Ratio Rank: 3232
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.

BNDX vs. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond ETF (BNDX) and iShares Silver Trust (SLV). 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.

BNDXSLVDifference
Sharpe ratioReturn per unit of total volatility
0.56
1.44

-0.87

Sortino ratioReturn per unit of downside risk
0.82
1.76

-0.94

Omega ratioGain probability vs. loss probability

1.10

1.29

-0.19

Calmar ratioReturn relative to maximum drawdown

0.66

1.89

-1.23

Martin ratioReturn relative to average drawdown

1.84

4.10

-2.26

BNDX vs. SLV - Sharpe Ratio Comparison

The current BNDX Sharpe Ratio is 0.56, which is lower than the SLV Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of BNDX and SLV, 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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Drawdowns

BNDX vs. SLV - Drawdown Comparison

The maximum BNDX drawdown since its inception was -16.23%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for BNDX and SLV.

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Drawdown Indicators

BNDXSLVDifference

Max Drawdown

Largest peak-to-trough decline

-16.23%

-76.28%

+60.05%

Max Drawdown (1Y)

Largest decline over 1 year

-2.93%

-45.40%

+42.47%

Max Drawdown (3Y)

Largest decline over 3 years

-2.93%

-45.40%

+42.47%

Max Drawdown (5Y)

Largest decline over 5 years

-15.86%

-45.40%

+29.54%

Max Drawdown (10Y)

Largest decline over 10 years

-16.23%

-45.40%

+29.17%

Current Drawdown

Current decline from peak

-1.02%

-41.96%

+40.94%

Average Drawdown

Average peak-to-trough decline

-3.10%

-44.66%

+41.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.05%

20.88%

-19.83%

Volatility

BNDX vs. SLV - Volatility Comparison

The current volatility for Vanguard Total International Bond ETF (BNDX) is 1.49%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that BNDX experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNDXSLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.49%

16.34%

-14.85%

Volatility (6M)

Calculated over the trailing 6-month period

2.96%

59.10%

-56.14%

Volatility (1Y)

Calculated over the trailing 1-year period

3.47%

59.82%

-56.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.89%

36.46%

-31.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.10%

32.00%

-27.90%

BNDX vs. SLV - Expense Ratio Comparison

BNDX has a 0.07% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

BNDX vs. SLV - Dividend Comparison

BNDX's dividend yield for the trailing twelve months is around 4.47%, while SLV has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
BNDX
Vanguard Total International Bond ETF		4.47%4.39%4.18%4.42%1.51%3.74%1.11%3.40%3.01%2.23%1.89%1.63%
SLV
iShares Silver Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BNDX and SLV have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLV has higher volatility (16.34%) compared to BNDX (1.49%). In terms of maximum drawdown, BNDX dropped -16.23% vs SLV's -76.28%.

On 10-year performance, SLV leads with 13.99% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SLV has performed better with a 13.99% return vs 1.72%. 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 0.50% for SLV.

BNDX has the higher dividend yield at 4.47%, compared with 0.00% for SLV.

BNDX is categorized as Global Bonds, while SLV is Silver. BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), while SLV tracks LBMA Silver Price. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for BNDX and 0.50% for SLV.

SLV currently has the higher Sharpe Ratio (1.44 vs 0.56), 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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