BNDY vs. VTG

Last updated Jul 28, 2026

BNDY (Horizon Core Bond ETF) and VTG (Vanguard Total Treasury ETF) are both exchange-traded funds - BNDY is a Intermediate Core Bond fund actively managed by Horizon, while VTG is a Government Bonds fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index. BNDY is actively managed, while VTG is passively managed. Over the past year, BNDY returned 5.19% vs 2.46% for VTG. Their correlation of 0.84 means they have usually moved in the same direction. BNDY charges 0.66%/yr vs 0.03%/yr for VTG.

Performance

BNDY vs. VTG - Performance Comparison

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

Returns By Period

In the year-to-date period, BNDY achieves a 0.10% return, which is significantly higher than VTG's -0.43% return.

BNDY

• 1D: 0.21%
• 1M: -1.52%
• 6M: -0.40%
• YTD: 0.10%
• 1Y: 5.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.99%

VTG

• 1D: 0.20%
• 1M: -1.18%
• 6M: -0.57%
• YTD: -0.43%
• 1Y: 2.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BNDY Horizon Core Bond ETF	$687.44K	$571.42K	$1.44M
VTG Vanguard Total Treasury ETF	$2.88M	$3.07M	$2.81M

BNDY vs. VTG - Yearly Performance Comparison

	2026 (YTD)	2025
BNDY Horizon Core Bond ETF	0.10%	5.95%
VTG Vanguard Total Treasury ETF	-0.43%	3.07%

Correlation

The correlation between BNDY and VTG is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.84

The correlation between BNDY and VTG has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

BNDY vs. VTG — Risk / Return Rank

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

BNDY

BNDY Risk / Return Rank: 41
BNDY Sharpe Ratio Rank: 41
BNDY Sortino Ratio Rank: 40
BNDY Omega Ratio Rank: 40
BNDY Calmar Ratio Rank: 38
BNDY Martin Ratio Rank: 46

VTG

VTG Risk / Return Rank: 27
VTG Sharpe Ratio Rank: 29
VTG Sortino Ratio Rank: 28
VTG Omega Ratio Rank: 26
VTG Calmar Ratio Rank: 27
VTG Martin Ratio Rank: 26

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. VTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Bond ETF (BNDY) and Vanguard Total Treasury ETF (VTG). 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	VTG	Difference
Sharpe ratio: Return per unit of total volatility	1.03	0.71	+0.33
Sortino ratio: Return per unit of downside risk	1.51	1.06	+0.45
Omega ratio: Gain probability vs. loss probability	1.19	1.12	+0.07
Calmar ratio: Return relative to maximum drawdown	1.33	0.85	+0.47
Martin ratio: Return relative to average drawdown	5.15	2.09	+3.06

BNDY vs. VTG - Sharpe Ratio Comparison

The current BNDY Sharpe Ratio is 1.03, which is higher than the VTG Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of BNDY and VTG, 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. VTG - Drawdown Comparison

The maximum BNDY drawdown since its inception was -3.93%, which is greater than VTG's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for BNDY and VTG.

Drawdown Indicators

	BNDY	VTG	Difference
Max Drawdown Largest peak-to-trough decline	-3.93%	-2.89%	-1.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.93%	-2.89%	-1.04%
Current Drawdown Current decline from peak	-1.90%	-2.21%	+0.31%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.88%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.18%	-0.17%

Volatility

BNDY vs. VTG - Volatility Comparison

Horizon Core Bond ETF (BNDY) has a higher volatility of 1.27% compared to Vanguard Total Treasury ETF (VTG) at 0.89%. This indicates that BNDY's price experiences larger fluctuations and is considered to be riskier than VTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNDY	VTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	0.89%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	4.24%	2.65%	+1.59%
Volatility (1Y) Calculated over the trailing 1-year period	5.06%	3.51%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.07%	3.51%	+1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.07%	3.51%	+1.56%

BNDY vs. VTG - Expense Ratio Comparison

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

Dividends

BNDY vs. VTG - Dividend Comparison

BNDY's dividend yield for the trailing twelve months is around 6.54%, more than VTG's 3.55% yield.

Position	TTM	2025
BNDY Horizon Core Bond ETF	6.54%	1.89%
VTG Vanguard Total Treasury ETF	3.55%	1.65%

Frequently Asked Questions

Can I hold both BNDY and VTG in my portfolio?

BNDY and VTG have a correlation of 0.83, 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 VTG?

BNDY has higher volatility (1.27%) compared to VTG (0.89%). In terms of maximum drawdown, BNDY dropped -3.93% vs VTG's -2.89%.

Which ETF is better, BNDY or VTG?

On 1-year performance, BNDY leads with 5.19% vs 2.46% for VTG. On fees, VTG is cheaper at 0.03% per year. On volatility, VTG has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BNDY or VTG?

Over the 1-year period, BNDY has performed better with a 5.19% return vs 2.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BNDY or VTG?

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

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

BNDY has the higher dividend yield at 6.54%, compared with 3.55% for VTG.

What is the main difference between BNDY and VTG?

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

Which has better risk-adjusted returns?

BNDY currently has the higher Sharpe Ratio (1.03 vs 0.71), 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.