BWX vs. RODM
BWX (SPDR Bloomberg Barclays International Treasury Bond ETF) and RODM (Hartford Multifactor Developed Markets (ex-US) ETF) are both exchange-traded funds - BWX is a International Government Bonds fund tracking the Bloomberg Global Treasury x US Capped (Inception 8/31/2007), while RODM is a Foreign Large Cap Equities fund tracking the Hartford Risk-Optimized Multifactor Developed Markets (ex-US) Index. Both are passively managed. Over the past 10 years, BWX returned -1.31%/yr vs 9.24%/yr for RODM. At a 0.36 correlation, their price movements are largely independent. BWX charges 0.35%/yr vs 0.29%/yr for RODM.
Performance
BWX vs. RODM - Performance Comparison
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Returns By Period
In the year-to-date period, BWX achieves a -1.42% return, which is significantly lower than RODM's 11.64% return. Over the past 10 years, BWX has underperformed RODM with an annualized return of -1.31%, while RODM has yielded a comparatively higher 9.24% annualized return.
BWX
- 1D
- 0.27%
- 1M
- 1.08%
- YTD
- -1.42%
- 6M
- -1.46%
- 1Y
- -2.80%
- 3Y*
- 1.02%
- 5Y*
- -4.15%
- 10Y*
- -1.31%
RODM
- 1D
- -0.53%
- 1M
- 0.90%
- YTD
- 11.64%
- 6M
- 12.64%
- 1Y
- 25.47%
- 3Y*
- 19.57%
- 5Y*
- 9.73%
- 10Y*
- 9.24%
BWX vs. RODM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | -1.42% | 7.67% | -5.93% | 5.10% | -19.72% | -8.67% | 9.50% | 5.58% | -1.85% | 9.93% |
RODM Hartford Multifactor Developed Markets (ex-US) ETF | 11.64% | 34.42% | 8.02% | 15.76% | -14.54% | 11.11% | -0.62% | 17.15% | -9.97% | 25.14% |
Correlation
The correlation between BWX and RODM is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2015 | 0.36 |
Over the past year, BWX and RODM have become more correlated (0.63) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
BWX vs. RODM — Risk / Return Rank
BWX
RODM
BWX vs. RODM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) and Hartford Multifactor Developed Markets (ex-US) ETF (RODM). 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.
| BWX | RODM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.74 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.42 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 3.60 | -4.06 |
| Martin ratioReturn relative to average drawdown | -0.90 | 14.32 | -15.21 |
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Drawdowns
BWX vs. RODM - Drawdown Comparison
The maximum BWX drawdown since its inception was -34.05%, smaller than the maximum RODM drawdown of -35.98%. Use the drawdown chart below to compare losses from any high point for BWX and RODM.
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Drawdown Indicators
| BWX | RODM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.05% | -35.98% | +1.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.16% | -7.10% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -10.22% | -10.58% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -30.78% | -28.85% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -34.05% | -35.98% | +1.93% |
Current DrawdownCurrent decline from peak | -23.60% | -0.84% | -22.76% |
Average DrawdownAverage peak-to-trough decline | -10.07% | -6.36% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 1.78% | +1.35% |
Volatility
BWX vs. RODM - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays International Treasury Bond ETF (BWX) is 2.49%, while Hartford Multifactor Developed Markets (ex-US) ETF (RODM) has a volatility of 3.58%. This indicates that BWX experiences smaller price fluctuations and is considered to be less risky than RODM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BWX | RODM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.49% | 3.58% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 5.92% | 8.77% | -2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.66% | 11.01% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.70% | 13.48% | -3.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 15.22% | -6.55% |
BWX vs. RODM - Expense Ratio Comparison
BWX has a 0.35% expense ratio, which is higher than RODM's 0.29% expense ratio.
Dividends
BWX vs. RODM - Dividend Comparison
BWX's dividend yield for the trailing twelve months is around 2.36%, less than RODM's 2.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BWX SPDR Bloomberg Barclays International Treasury Bond ETF | 2.36% | 2.19% | 1.99% | 1.63% | 1.23% | 0.93% | 0.95% | 1.16% | 1.07% | 0.46% | 0.00% | 0.00% |
RODM Hartford Multifactor Developed Markets (ex-US) ETF | 2.78% | 3.11% | 4.09% | 4.42% | 3.81% | 4.41% | 2.82% | 2.82% | 2.03% | 2.24% | 3.19% | 2.60% |
Frequently Asked Questions
BWX and RODM have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RODM has higher volatility (3.58%) compared to BWX (2.49%). In terms of maximum drawdown, BWX dropped -34.05% vs RODM's -35.98%.
On 10-year performance, RODM leads with 9.24% vs -1.31% for BWX. On fees, RODM is cheaper at 0.29% per year. On volatility, BWX has been the lower-risk option at 2.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RODM has performed better with a 9.24% return vs -1.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RODM is cheaper with a 0.29% expense ratio, compared with 0.35% for BWX.
RODM has the higher dividend yield at 2.78%, compared with 2.36% for BWX.
BWX is categorized as International Government Bonds, while RODM is Foreign Large Cap Equities. BWX tracks Bloomberg Global Treasury x US Capped (Inception 8/31/2007), while RODM tracks Hartford Risk-Optimized Multifactor Developed Markets (ex-US) Index. They also come from different issuers: State Street and Hartford. Their fees differ too: 0.35% for BWX and 0.29% for RODM.
RODM currently has the higher Sharpe Ratio (2.33 vs -0.37), 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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