GBOSX vs. BNDW
GBOSX (JPMorgan Global Bond Opportunities Fund) and BNDW (Vanguard Total World Bond ETF) are both funds - GBOSX is a Multisector Bonds fund managed by JPMorgan, while BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index. Over the past 5 years, GBOSX returned 2.67%/yr vs 0.27%/yr for BNDW. A 0.54 correlation means they provide meaningful diversification when combined. GBOSX charges 0.65%/yr vs 0.05%/yr for BNDW.
Performance
GBOSX vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, GBOSX achieves a 1.14% return, which is significantly higher than BNDW's 0.88% return.
GBOSX
- 1D
- -0.20%
- 1M
- 1.02%
- YTD
- 1.14%
- 6M
- 1.51%
- 1Y
- 5.56%
- 3Y*
- 5.83%
- 5Y*
- 2.67%
- 10Y*
- 4.01%
BNDW
- 1D
- 0.15%
- 1M
- 0.77%
- YTD
- 0.88%
- 6M
- 0.88%
- 1Y
- 3.23%
- 3Y*
- 4.10%
- 5Y*
- 0.27%
- 10Y*
- —
GBOSX vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GBOSX JPMorgan Global Bond Opportunities Fund | 1.14% | 7.90% | 3.53% | 6.96% | -6.04% | 1.37% | 7.77% | 10.57% | -1.19% |
BNDW Vanguard Total World Bond ETF | 0.88% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.27% |
Correlation
The correlation between GBOSX and BNDW is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2018 | 0.54 |
The correlation between GBOSX and BNDW shifts across timeframes, from 0.54 (all time) to 0.78 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GBOSX vs. BNDW — Risk / Return Rank
GBOSX
BNDW
GBOSX vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Bond Opportunities Fund (GBOSX) 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.
| GBOSX | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.20 | +0.28 |
| Martin ratioReturn relative to average drawdown | 5.14 | 3.24 | +1.90 |
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Drawdowns
GBOSX vs. BNDW - Drawdown Comparison
The maximum GBOSX drawdown since its inception was -11.48%, smaller than the maximum BNDW drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for GBOSX and BNDW.
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Drawdown Indicators
| GBOSX | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.48% | -17.22% | +5.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -2.70% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.90% | -4.27% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -10.86% | -16.93% | +6.07% |
Max Drawdown (10Y)Largest decline over 10 years | -11.48% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -1.08% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -4.95% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 1.00% | +0.13% |
Volatility
GBOSX vs. BNDW - Volatility Comparison
JPMorgan Global Bond Opportunities Fund (GBOSX) has a higher volatility of 1.16% compared to Vanguard Total World Bond ETF (BNDW) at 0.92%. This indicates that GBOSX'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.
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Volatility by Period
| GBOSX | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.92% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 2.70% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 3.35% | +0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.73% | 5.22% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.48% | 4.89% | -1.41% |
GBOSX vs. BNDW - Expense Ratio Comparison
GBOSX has a 0.65% expense ratio, which is higher than BNDW's 0.05% expense ratio.
Dividends
GBOSX vs. BNDW - Dividend Comparison
GBOSX's dividend yield for the trailing twelve months is around 4.72%, more than BNDW's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.19% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% | 0.00% | 0.00% |
GBOSX JPMorgan Global Bond Opportunities Fund | 4.72% | 4.79% | 4.41% | 3.92% | 3.68% | 2.61% | 3.29% | 4.06% | 5.74% | 3.32% | 4.80% | 5.12% |
Frequently Asked Questions
GBOSX and BNDW have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBOSX has higher volatility (1.16%) compared to BNDW (0.92%). In terms of maximum drawdown, GBOSX dropped -11.48% vs BNDW's -17.22%.
GBOSX currently has the higher Sharpe Ratio (1.53 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.
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