BNDX vs. VGLT
BNDX (Vanguard Total International Bond ETF) and VGLT (Vanguard Long-Term Treasury 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 VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, BNDX returned 1.72%/yr vs -1.21%/yr for VGLT. A 0.70 correlation means they provide meaningful diversification when combined. BNDX charges 0.07%/yr vs 0.03%/yr for VGLT.
Performance
BNDX vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, BNDX achieves a 1.02% return, which is significantly higher than VGLT's 0.03% return. Over the past 10 years, BNDX has outperformed VGLT with an annualized return of 1.72%, while VGLT has yielded a comparatively lower -1.21% 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%
VGLT
- 1D
- -0.27%
- 1M
- 1.30%
- YTD
- 0.03%
- 6M
- 0.49%
- 1Y
- 3.29%
- 3Y*
- -0.30%
- 5Y*
- -5.52%
- 10Y*
- -1.21%
BNDX vs. VGLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGLT Vanguard Long-Term Treasury ETF | 0.03% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between BNDX and VGLT is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.70 |
The correlation between BNDX and VGLT has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.
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Return for Risk
BNDX vs. VGLT — Risk / Return Rank
BNDX
VGLT
BNDX vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond ETF (BNDX) and Vanguard Long-Term Treasury ETF (VGLT). 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 | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.07 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 0.47 | +0.19 |
| Martin ratioReturn relative to average drawdown | 1.84 | 1.19 | +0.65 |
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Drawdowns
BNDX vs. VGLT - Drawdown Comparison
The maximum BNDX drawdown since its inception was -16.23%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for BNDX and VGLT.
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Drawdown Indicators
| BNDX | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.23% | -46.18% | +29.95% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -7.01% | +4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -2.93% | -17.68% | +14.75% |
Max Drawdown (5Y)Largest decline over 5 years | -15.86% | -40.98% | +25.12% |
Max Drawdown (10Y)Largest decline over 10 years | -16.23% | -46.18% | +29.95% |
Current DrawdownCurrent decline from peak | -1.02% | -36.55% | +35.53% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -15.09% | +11.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 2.78% | -1.73% |
Volatility
BNDX vs. VGLT - Volatility Comparison
The current volatility for Vanguard Total International Bond ETF (BNDX) is 1.49%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.69%. This indicates that BNDX experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNDX | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 2.69% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 6.09% | -3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.47% | 8.78% | -5.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.89% | 14.57% | -9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.10% | 13.82% | -9.72% |
BNDX vs. VGLT - Expense Ratio Comparison
BNDX has a 0.07% expense ratio, which is higher than VGLT's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BNDX vs. VGLT - Dividend Comparison
BNDX's dividend yield for the trailing twelve months is around 4.47%, less than VGLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGLT Vanguard Long-Term Treasury ETF | 4.59% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
BNDX and VGLT have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.69%) compared to BNDX (1.49%). In terms of maximum drawdown, BNDX dropped -16.23% vs VGLT's -46.18%.
On 10-year performance, BNDX leads with 1.72% vs -1.21% for VGLT. On fees, VGLT is cheaper at 0.03% 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, BNDX has performed better with a 1.72% return vs -1.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 0.07% for BNDX.
VGLT has the higher dividend yield at 4.59%, compared with 4.47% for BNDX.
BNDX is categorized as Global Bonds, while VGLT is Government Bonds. BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged), while VGLT tracks Bloomberg U.S. Long Treasury Index. Their fees differ too: 0.07% for BNDX and 0.03% for VGLT.
BNDX currently has the higher Sharpe Ratio (0.56 vs 0.38), 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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