BNDY vs. BND

Last updated Jul 8, 2026

BNDY (Horizon Core Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - BNDY is a Intermediate Core Bond fund actively managed by Horizon, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. BNDY is actively managed, while BND is passively managed. Over the past year, BNDY returned 6.78% vs 4.03% for BND. Their correlation of 0.88 suggests significant overlap in exposure. BNDY charges 0.66%/yr vs 0.03%/yr for BND.

Performance

BNDY vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Core Bond ETF (BNDY) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDY achieves a 0.82% return, which is significantly higher than BND's 0.31% return.

BNDY

• 1D: -0.58%
• 1M: 0.56%
• 6M: 0.51%
• YTD: 0.82%
• 1Y: 6.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BND

• 1D: -0.40%
• 1M: 0.36%
• 6M: 0.17%
• YTD: 0.31%
• 1Y: 4.03%
• 3Y*: 4.44%
• 5Y*: -0.19%
• 10Y*: 1.38%

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

BNDY vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025
BNDY Horizon Core Bond ETF	0.82%	5.21%
BND Vanguard Total Bond Market ETF	0.31%	3.11%

Correlation

The correlation between BNDY and BND is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Jul 3, 2025	0.88

The correlation between BNDY and BND has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

Return for Risk

BNDY vs. BND — Risk / Return Rank

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

BNDY

BNDY Risk / Return Rank: 45
BNDY Sharpe Ratio Rank: 45
BNDY Sortino Ratio Rank: 46
BNDY Omega Ratio Rank: 45
BNDY Calmar Ratio Rank: 39
BNDY Martin Ratio Rank: 50

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 34
BND Sortino Ratio Rank: 34
BND Omega Ratio Rank: 31
BND Calmar Ratio Rank: 34
BND Martin Ratio Rank: 33

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.

BNDY vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Bond ETF (BNDY) and Vanguard Total Bond Market ETF (BND). 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.

	BNDY	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.08	+0.26
Sortino ratio: Return per unit of downside risk	1.95	1.61	+0.35
Omega ratio: Gain probability vs. loss probability	1.25	1.19	+0.06
Calmar ratio: Return relative to maximum drawdown	1.73	1.51	+0.22
Martin ratio: Return relative to average drawdown	7.20	4.27	+2.93

BNDY vs. BND - Sharpe Ratio Comparison

The current BNDY Sharpe Ratio is 1.34, which is comparable to the BND Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of BNDY and BND, 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

BNDY vs. BND - Drawdown Comparison

The maximum BNDY drawdown since its inception was -3.93%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BNDY and BND.

Drawdown Indicators

	BNDY	BND	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-18.58%	+14.65%
Max Drawdown (1Y) Largest decline over 1 year	-3.93%	-2.68%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-1.20%	-2.32%	+1.12%
Average Drawdown Average peak-to-trough decline	-0.65%	-3.06%	+2.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.94%	0.00%

Volatility

BNDY vs. BND - Volatility Comparison

Horizon Core Bond ETF (BNDY) has a higher volatility of 1.82% compared to Vanguard Total Bond Market ETF (BND) at 1.26%. This indicates that BNDY's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDY	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	1.26%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	4.24%	2.84%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	5.12%	3.74%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.11%	6.03%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.11%	5.53%	-0.42%

BNDY vs. BND - Expense Ratio Comparison

BNDY has a 0.66% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

BNDY vs. BND - Dividend Comparison

BNDY's dividend yield for the trailing twelve months is around 5.87%, more than BND's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.99%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
BNDY Horizon Core Bond ETF	5.87%	1.89%	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 BNDY and BND in my portfolio?

BNDY and BND have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BNDY or BND?

BNDY has higher volatility (1.82%) compared to BND (1.26%). In terms of maximum drawdown, BNDY dropped -3.93% vs BND's -18.58%.

Which ETF is better, BNDY or BND?

On 1-year performance, BNDY leads with 6.78% vs 4.03% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDY or BND?

Over the 1-year period, BNDY has performed better with a 6.78% return vs 4.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDY or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.66% for BNDY.

Which ETF pays a higher dividend yield, BNDY or BND?

BNDY has the higher dividend yield at 5.87%, compared with 3.99% for BND.

What is the main difference between BNDY and BND?

BNDY is categorized as Intermediate Core Bond, while BND is Total Bond Market. They also come from different issuers: Horizon and Vanguard. Their fees differ too: 0.66% for BNDY and 0.03% for BND.

Which has better risk-adjusted returns?

BNDY currently has the higher Sharpe Ratio (1.34 vs 1.08), 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.