DFGP vs. BNDW

Last updated Jun 24, 2026

DFGP (Dimensional Global Core Plus Fixed Income ETF) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds. DFGP is actively managed, while BNDW is passively managed. Over the past year, DFGP returned 4.00% vs 3.23% for BNDW. Their correlation of 0.92 suggests significant overlap in exposure. DFGP charges 0.22%/yr vs 0.05%/yr for BNDW.

Performance

DFGP vs. BNDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Global Core Plus Fixed Income ETF (DFGP) and Vanguard Total World Bond ETF (BNDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DFGP having a 0.87% return and BNDW slightly higher at 0.88%.

DFGP

• 1D: -0.65%
• 1M: 0.29%
• YTD: 0.87%
• 6M: 1.00%
• 1Y: 4.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDW

• 1D: 0.15%
• 1M: 0.77%
• YTD: 0.88%
• 6M: 0.88%
• 1Y: 3.23%
• 3Y*: 4.10%
• 5Y*: 0.27%
• 10Y*: —

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

DFGP vs. BNDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFGP Dimensional Global Core Plus Fixed Income ETF	0.87%	5.89%	3.71%	6.23%
BNDW Vanguard Total World Bond ETF	0.88%	5.02%	2.42%	5.57%

Correlation

The correlation between DFGP and BNDW is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.92

The correlation between DFGP and BNDW has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

DFGP vs. BNDW — Risk / Return Rank

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

DFGP

DFGP Risk / Return Rank: 28
DFGP Sharpe Ratio Rank: 29
DFGP Sortino Ratio Rank: 27
DFGP Omega Ratio Rank: 27
DFGP Calmar Ratio Rank: 26
DFGP Martin Ratio Rank: 31

BNDW

BNDW Risk / Return Rank: 26
BNDW Sharpe Ratio Rank: 28
BNDW Sortino Ratio Rank: 26
BNDW Omega Ratio Rank: 25
BNDW Calmar Ratio Rank: 25
BNDW Martin Ratio Rank: 25

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.

DFGP vs. BNDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Global Core Plus Fixed Income ETF (DFGP) and Vanguard Total World Bond ETF (BNDW). 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.

	DFGP	BNDW	Difference
Sharpe ratio: Return per unit of total volatility	0.99	0.97	+0.02
Sortino ratio: Return per unit of downside risk	1.44	1.40	+0.04
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	1.24	1.20	+0.04
Martin ratio: Return relative to average drawdown	4.15	3.24	+0.91

DFGP vs. BNDW - Sharpe Ratio Comparison

The current DFGP Sharpe Ratio is 0.99, which is comparable to the BNDW Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of DFGP and BNDW, 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

DFGP vs. BNDW - Drawdown Comparison

The maximum DFGP drawdown since its inception was -3.24%, smaller than the maximum BNDW drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for DFGP and BNDW.

Drawdown Indicators

	DFGP	BNDW	Difference
Max Drawdown Largest peak-to-trough decline	-3.24%	-17.22%	+13.98%
Max Drawdown (1Y) Largest decline over 1 year	-3.24%	-2.70%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.93%	—
Current Drawdown Current decline from peak	-1.18%	-1.08%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.78%	-4.95%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	1.00%	-0.03%

Volatility

DFGP vs. BNDW - Volatility Comparison

Dimensional Global Core Plus Fixed Income ETF (DFGP) has a higher volatility of 1.39% compared to Vanguard Total World Bond ETF (BNDW) at 0.92%. This indicates that DFGP's price experiences larger fluctuations and is considered to be riskier than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFGP	BNDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	0.92%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	2.70%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	4.06%	3.35%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.67%	5.22%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	4.89%	-0.22%

DFGP vs. BNDW - Expense Ratio Comparison

DFGP has a 0.22% expense ratio, which is higher than BNDW's 0.05% 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

DFGP vs. BNDW - Dividend Comparison

DFGP's dividend yield for the trailing twelve months is around 3.65%, less than BNDW's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BNDW Vanguard Total World Bond ETF	4.19%	4.12%	3.90%	3.73%	2.02%	2.58%	1.56%	3.05%	1.66%
DFGP Dimensional Global Core Plus Fixed Income ETF	3.65%	3.45%	4.51%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFGP and BNDW in my portfolio?

With a correlation of 0.94, DFGP and BNDW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DFGP or BNDW?

DFGP has higher volatility (1.39%) compared to BNDW (0.92%). In terms of maximum drawdown, DFGP dropped -3.24% vs BNDW's -17.22%.

Which ETF is better, DFGP or BNDW?

On 1-year performance, DFGP leads with 4.00% vs 3.23% for BNDW. On fees, BNDW is cheaper at 0.05% per year. On volatility, BNDW has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFGP or BNDW?

Over the 1-year period, DFGP has performed better with a 4.00% return vs 3.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFGP or BNDW?

BNDW is cheaper with a 0.05% expense ratio, compared with 0.22% for DFGP.

Which ETF pays a higher dividend yield, DFGP or BNDW?

BNDW has the higher dividend yield at 4.19%, compared with 3.65% for DFGP.

What is the main difference between DFGP and BNDW?

They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.22% for DFGP and 0.05% for BNDW.

Which has better risk-adjusted returns?

DFGP currently has the higher Sharpe Ratio (0.99 vs 0.97), 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.