CORP vs. BND
Compare and contrast key facts about PIMCO Investment Grade Corporate Bond Index ETF (CORP) and Vanguard Total Bond Market ETF (BND).
CORP and BND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CORP is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Corporate. It was launched on Sep 20, 2010. BND is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Aggregate Bond Index. It was launched on Apr 3, 2007. Both CORP and BND are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CORP or BND.
Key characteristics
| CORP | BND | |
|---|---|---|
| YTD Return | -2.75% | -2.99% |
| 1Y Return | 2.55% | -0.77% |
| 3Y Return (Ann) | -2.36% | -3.50% |
| 5Y Return (Ann) | 1.29% | -0.17% |
| 10Y Return (Ann) | 2.47% | 1.19% |
| Sharpe Ratio | 0.29 | -0.18 |
| Daily Std Dev | 7.03% | 6.75% |
| Max Drawdown | -21.21% | -18.84% |
| Current Drawdown | -10.61% | -13.27% |
Correlation
The correlation between CORP and BND is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
CORP vs. BND - Performance Comparison
In the year-to-date period, CORP achieves a -2.75% return, which is significantly higher than BND's -2.99% return. Over the past 10 years, CORP has outperformed BND with an annualized return of 2.47%, while BND has yielded a comparatively lower 1.19% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CORP vs. BND - Expense Ratio Comparison
CORP has a 0.20% 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%.
Risk-Adjusted Performance
CORP vs. BND - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) 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.
Dividends
CORP vs. BND - Dividend Comparison
CORP's dividend yield for the trailing twelve months is around 5.13%, more than BND's 3.36% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 5.13% | 4.84% | 3.28% | 2.51% | 2.90% | 3.25% | 3.49% | 3.08% | 2.91% | 3.14% | 3.55% | 7.34% |
BND Vanguard Total Bond Market ETF | 3.36% | 3.09% | 2.60% | 1.97% | 2.22% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% | 2.79% | 2.78% |
Drawdowns
CORP vs. BND - Drawdown Comparison
The maximum CORP drawdown since its inception was -21.21%, which is greater than BND's maximum drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for CORP and BND. For additional features, visit the drawdowns tool.
Volatility
CORP vs. BND - Volatility Comparison
PIMCO Investment Grade Corporate Bond Index ETF (CORP) has a higher volatility of 2.70% compared to Vanguard Total Bond Market ETF (BND) at 1.81%. This indicates that CORP'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.