DAX vs. BND
DAX (Global X DAX Germany ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - DAX is a Europe Equities fund tracking the DAX 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, DAX returned 9.57%/yr vs 1.58%/yr for BND. At a 0.06 correlation, their price movements are largely independent. DAX charges 0.20%/yr vs 0.03%/yr for BND.
Performance
DAX vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, DAX achieves a -1.45% return, which is significantly lower than BND's 0.52% return. Over the past 10 years, DAX has outperformed BND with an annualized return of 9.57%, while BND has yielded a comparatively lower 1.58% annualized return.
DAX
- 1D
- 0.26%
- 1M
- 0.31%
- YTD
- -1.45%
- 6M
- -0.46%
- 1Y
- 4.51%
- 3Y*
- 16.82%
- 5Y*
- 7.62%
- 10Y*
- 9.57%
BND
- 1D
- -0.12%
- 1M
- 1.03%
- YTD
- 0.52%
- 6M
- 0.91%
- 1Y
- 4.77%
- 3Y*
- 4.17%
- 5Y*
- 0.03%
- 10Y*
- 1.58%
DAX vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DAX Global X DAX Germany ETF | -1.45% | 39.00% | 10.55% | 23.62% | -18.47% | 7.73% | 12.27% | 22.11% | -22.92% | 28.23% |
BND Vanguard Total Bond Market ETF | 0.52% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between DAX and BND is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2014 | 0.06 |
Over the past year, DAX and BND have become more correlated (0.41) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
DAX vs. BND — Risk / Return Rank
DAX
BND
DAX vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X DAX Germany ETF (DAX) 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.
| DAX | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.21 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 1.65 | -1.46 |
| Martin ratioReturn relative to average drawdown | 0.58 | 4.81 | -4.23 |
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Drawdowns
DAX vs. BND - Drawdown Comparison
The maximum DAX drawdown since its inception was -45.58%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for DAX and BND.
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Drawdown Indicators
| DAX | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.58% | -18.58% | -27.00% |
Max Drawdown (1Y)Largest decline over 1 year | -14.82% | -2.68% | -12.14% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -5.92% | -10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -39.72% | -17.91% | -21.81% |
Max Drawdown (10Y)Largest decline over 10 years | -45.58% | -18.58% | -27.00% |
Current DrawdownCurrent decline from peak | -5.39% | -2.12% | -3.27% |
Average DrawdownAverage peak-to-trough decline | -10.49% | -3.06% | -7.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 0.92% | +3.85% |
Volatility
DAX vs. BND - Volatility Comparison
Global X DAX Germany ETF (DAX) has a higher volatility of 5.86% compared to Vanguard Total Bond Market ETF (BND) at 1.28%. This indicates that DAX'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.
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Volatility by Period
| DAX | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.86% | 1.28% | +4.58% |
Volatility (6M)Calculated over the trailing 6-month period | 14.79% | 2.74% | +12.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.01% | 3.75% | +14.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.44% | 6.03% | +14.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.25% | 5.53% | +15.72% |
DAX vs. BND - Expense Ratio Comparison
DAX 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%.
Dividends
DAX vs. BND - Dividend Comparison
DAX's dividend yield for the trailing twelve months is around 1.50%, less 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% |
DAX Global X DAX Germany ETF | 1.50% | 1.47% | 2.24% | 2.48% | 2.80% | 2.65% | 2.25% | 2.47% | 3.33% | 1.73% | 1.78% | 1.41% |
Frequently Asked Questions
DAX and BND have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DAX has higher volatility (5.86%) compared to BND (1.28%). In terms of maximum drawdown, DAX dropped -45.58% vs BND's -18.58%.
On 10-year performance, DAX leads with 9.57% vs 1.58% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DAX has performed better with a 9.57% return vs 1.58%. 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 0.20% for DAX.
BND has the higher dividend yield at 3.96%, compared with 1.50% for DAX.
DAX is categorized as Europe Equities, while BND is Total Bond Market. DAX tracks DAX Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.20% for DAX and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.18 vs 0.15), 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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