EVSB vs. BNDW

Last updated Jun 24, 2026

EVSB (Eaton Vance Ultra-Short Income ETF) and BNDW (Vanguard Total World Bond ETF) are both exchange-traded funds - EVSB is a Ultrashort Bond fund actively managed by Eaton Vance, while BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index. EVSB is actively managed, while BNDW is passively managed. Over the past year, EVSB returned 4.60% vs 3.23% for BNDW. At a 0.32 correlation, their price movements are largely independent. EVSB charges 0.17%/yr vs 0.05%/yr for BNDW.

Performance

EVSB vs. BNDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Ultra-Short Income ETF (EVSB) and Vanguard Total World Bond ETF (BNDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EVSB achieves a 1.89% return, which is significantly higher than BNDW's 0.88% return.

EVSB

• 1D: 0.03%
• 1M: 0.39%
• YTD: 1.89%
• 6M: 2.07%
• 1Y: 4.60%
• 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)

EVSB vs. BNDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	1.89%	5.12%	6.04%	1.84%
BNDW Vanguard Total World Bond ETF	0.88%	5.02%	2.42%	8.06%

Correlation

The correlation between EVSB and BNDW is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.32

The correlation between EVSB and BNDW shifts across timeframes, from 0.13 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EVSB vs. BNDW — Risk / Return Rank

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

EVSB

EVSB Risk / Return Rank: 99
EVSB Sharpe Ratio Rank: 99
EVSB Sortino Ratio Rank: 99
EVSB Omega Ratio Rank: 99
EVSB Calmar Ratio Rank: 99
EVSB Martin Ratio Rank: 99

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.

EVSB vs. BNDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Ultra-Short Income ETF (EVSB) 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.

	EVSB	BNDW	Difference
Sharpe ratio: Return per unit of total volatility	5.94	0.97	+4.97
Sortino ratio: Return per unit of downside risk	10.46	1.40	+9.07
Omega ratio: Gain probability vs. loss probability	2.68	1.17	+1.52
Calmar ratio: Return relative to maximum drawdown	18.16	1.20	+16.96
Martin ratio: Return relative to average drawdown	103.88	3.24	+100.63

EVSB vs. BNDW - Sharpe Ratio Comparison

The current EVSB Sharpe Ratio is 5.94, which is higher than the BNDW Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of EVSB 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

EVSB vs. BNDW - Drawdown Comparison

The maximum EVSB drawdown since its inception was -0.31%, smaller than the maximum BNDW drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for EVSB and BNDW.

Drawdown Indicators

	EVSB	BNDW	Difference
Max Drawdown Largest peak-to-trough decline	-0.31%	-17.22%	+16.91%
Max Drawdown (1Y) Largest decline over 1 year	-0.25%	-2.70%	+2.45%
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	0.00%	-1.08%	+1.08%
Average Drawdown Average peak-to-trough decline	-0.02%	-4.95%	+4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	1.00%	-0.96%

Volatility

EVSB vs. BNDW - Volatility Comparison

The current volatility for Eaton Vance Ultra-Short Income ETF (EVSB) is 0.23%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 0.92%. This indicates that EVSB experiences smaller price fluctuations and is considered to be less risky than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EVSB	BNDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	0.92%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	0.54%	2.70%	-2.16%
Volatility (1Y) Calculated over the trailing 1-year period	0.78%	3.35%	-2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.81%	5.22%	-4.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.81%	4.89%	-4.08%

EVSB vs. BNDW - Expense Ratio Comparison

EVSB has a 0.17% 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

EVSB vs. BNDW - Dividend Comparison

EVSB's dividend yield for the trailing twelve months is around 4.62%, more 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%
EVSB Eaton Vance Ultra-Short Income ETF	4.62%	4.63%	5.18%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EVSB and BNDW in my portfolio?

EVSB and BNDW have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EVSB or BNDW?

BNDW has higher volatility (0.92%) compared to EVSB (0.23%). In terms of maximum drawdown, EVSB dropped -0.31% vs BNDW's -17.22%.

Which ETF is better, EVSB or BNDW?

On 1-year performance, EVSB leads with 4.60% vs 3.23% for BNDW. On fees, BNDW is cheaper at 0.05% per year. On volatility, EVSB has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EVSB or BNDW?

Over the 1-year period, EVSB has performed better with a 4.60% return vs 3.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EVSB or BNDW?

BNDW is cheaper with a 0.05% expense ratio, compared with 0.17% for EVSB.

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

EVSB has the higher dividend yield at 4.62%, compared with 4.19% for BNDW.

What is the main difference between EVSB and BNDW?

EVSB is categorized as Ultrashort Bond, while BNDW is Global Bonds. They also come from different issuers: Eaton Vance and Vanguard. Their fees differ too: 0.17% for EVSB and 0.05% for BNDW.

Which has better risk-adjusted returns?

EVSB currently has the higher Sharpe Ratio (5.94 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.