EVSB vs. BNDW

Last updated Apr 1, 2026

Compare and contrast key facts about Eaton Vance Ultra-Short Income ETF (EVSB) and Vanguard Total World Bond ETF (BNDW).

EVSB and BNDW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EVSB is an actively managed fund by Eaton Vance. It was launched on Oct 16, 2023. BNDW is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Float Adjusted Composite Index. It was launched on Sep 4, 2018.

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.

EVSB vs. BNDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EVSB Eaton Vance Ultra-Short Income ETF	0.90%	5.12%	6.04%	1.84%
BNDW Vanguard Total World Bond ETF	-0.03%	5.02%	2.42%	8.24%

Returns By Period

In the year-to-date period, EVSB achieves a 0.90% return, which is significantly higher than BNDW's -0.03% return.

EVSB

• 1D: 0.04%
• 1M: 0.16%
• YTD: 0.90%
• 6M: 2.04%
• 1Y: 4.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDW

• 1D: 0.35%
• 1M: -1.98%
• YTD: -0.03%
• 6M: 0.57%
• 1Y: 3.50%
• 3Y*: 3.73%
• 5Y*: 0.20%
• 10Y*: —

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

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%.

EVSB

Eaton Vance Ultra-Short Income ETF

BNDW

Vanguard Total World Bond ETF

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: 56
BNDW Sharpe Ratio Rank: 60
BNDW Sortino Ratio Rank: 57
BNDW Omega Ratio Rank: 49
BNDW Calmar Ratio Rank: 58
BNDW Martin Ratio Rank: 56

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.

	EVSB	BNDW	Difference
Sharpe ratio Return per unit of total volatility	5.33	1.00	+4.34
Sortino ratio Return per unit of downside risk	8.80	1.40	+7.40
Omega ratio Gain probability vs. loss probability	2.52	1.18	+1.34
Calmar ratio Return relative to maximum drawdown	15.04	1.34	+13.70
Martin ratio Return relative to average drawdown	85.60	4.97	+80.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVSB vs. BNDW - Sharpe Ratio Comparison

The current EVSB Sharpe Ratio is 5.33, which is higher than the BNDW Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of EVSB and BNDW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EVSB	BNDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.33	1.00	+4.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.97	0.37	+6.60

Correlation

The correlation between EVSB and BNDW is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EVSB vs. BNDW - Dividend Comparison

EVSB's dividend yield for the trailing twelve months is around 4.68%, more than BNDW's 4.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EVSB Eaton Vance Ultra-Short Income ETF	4.68%	4.63%	5.18%	1.21%	0.00%	0.00%	0.00%	0.00%	0.00%
BNDW Vanguard Total World Bond ETF	4.16%	4.12%	3.90%	3.73%	2.02%	2.58%	1.56%	3.05%	1.66%

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	-0.31%	-2.70%	+2.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.93%	—
Current Drawdown Current decline from peak	0.00%	-1.98%	+1.98%
Average Drawdown Average peak-to-trough decline	-0.02%	-5.05%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.06%	0.72%	-0.66%

Volatility

EVSB vs. BNDW - Volatility Comparison

The current volatility for Eaton Vance Ultra-Short Income ETF (EVSB) is 0.22%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 1.66%. 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	0.22%	1.66%	-1.44%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	2.28%	-1.78%
Volatility (1Y) Calculated over the trailing 1-year period	0.88%	3.53%	-2.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.83%	5.17%	-4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.83%	4.92%	-4.09%