BYLD vs. BND
BYLD (iShares Yield Optimized Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - BYLD is a Intermediate Core-Plus Bond fund tracking the Morningstar U.S. Bond Market Yield-Optimized Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, BYLD returned 2.96%/yr vs 1.55%/yr for BND. A 0.69 correlation means they provide meaningful diversification when combined. BYLD charges 0.17%/yr vs 0.03%/yr for BND.
Performance
BYLD vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, BYLD achieves a 1.46% return, which is significantly higher than BND's 0.38% return. Over the past 10 years, BYLD has outperformed BND with an annualized return of 2.96%, while BND has yielded a comparatively lower 1.55% annualized return.
BYLD
- 1D
- -0.18%
- 1M
- 0.84%
- YTD
- 1.46%
- 6M
- 1.62%
- 1Y
- 6.36%
- 3Y*
- 6.52%
- 5Y*
- 2.23%
- 10Y*
- 2.96%
BND
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.38%
- 6M
- 0.45%
- 1Y
- 4.37%
- 3Y*
- 3.92%
- 5Y*
- 0.04%
- 10Y*
- 1.55%
BYLD vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BYLD iShares Yield Optimized Bond ETF | 1.46% | 8.41% | 4.17% | 8.30% | -10.33% | -1.25% | 4.25% | 12.79% | -1.50% | 4.75% |
BND Vanguard Total Bond Market ETF | 0.38% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between BYLD and BND is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2014 | 0.69 |
The correlation between BYLD and BND shifts across timeframes, from 0.69 (all time) to 0.87 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BYLD vs. BND — Risk / Return Rank
BYLD
BND
BYLD vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Yield Optimized Bond ETF (BYLD) 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.
| BYLD | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 1.64 | +0.71 |
| Martin ratioReturn relative to average drawdown | 9.51 | 4.69 | +4.82 |
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Drawdowns
BYLD vs. BND - Drawdown Comparison
The maximum BYLD drawdown since its inception was -14.75%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BYLD and BND.
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Drawdown Indicators
| BYLD | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.75% | -18.58% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -2.68% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -3.94% | -5.92% | +1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -14.65% | -17.91% | +3.26% |
Max Drawdown (10Y)Largest decline over 10 years | -14.75% | -18.58% | +3.83% |
Current DrawdownCurrent decline from peak | -0.18% | -2.26% | +2.08% |
Average DrawdownAverage peak-to-trough decline | -2.50% | -3.06% | +0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.93% | -0.26% |
Volatility
BYLD vs. BND - Volatility Comparison
iShares Yield Optimized Bond ETF (BYLD) and Vanguard Total Bond Market ETF (BND) have volatilities of 1.13% and 1.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BYLD | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.08% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 2.77% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.74% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 6.03% | -0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.43% | 5.54% | -0.11% |
BYLD vs. BND - Expense Ratio Comparison
BYLD has a 0.17% expense ratio, which is higher than BND'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
BYLD vs. BND - Dividend Comparison
BYLD's dividend yield for the trailing twelve months is around 5.35%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
BYLD iShares Yield Optimized Bond ETF | 5.35% | 5.32% | 5.31% | 4.45% | 3.39% | 2.18% | 3.41% | 3.67% | 4.22% | 3.22% | 3.14% | 3.37% |
Frequently Asked Questions
BYLD and BND have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BYLD has higher volatility (1.13%) compared to BND (1.08%). In terms of maximum drawdown, BYLD dropped -14.75% vs BND's -18.58%.
On 10-year performance, BYLD leads with 2.96% vs 1.55% for BND. On fees, BND is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BYLD has performed better with a 2.96% return vs 1.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.17% for BYLD.
BYLD has the higher dividend yield at 5.35%, compared with 3.96% for BND.
BYLD is categorized as Intermediate Core-Plus Bond, while BND is Total Bond Market. BYLD tracks Morningstar U.S. Bond Market Yield-Optimized Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.17% for BYLD and 0.03% for BND.
BYLD currently has the higher Sharpe Ratio (1.66 vs 1.18), 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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