GRNB vs. BND
GRNB (VanEck Green Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - GRNB is a Global Bonds fund tracking the S&P Green Bond U.S. Dollar Select 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 5 years, GRNB returned 0.89%/yr vs 0.20%/yr for BND. A 0.75 correlation means they provide meaningful diversification when combined. GRNB charges 0.20%/yr vs 0.03%/yr for BND.
Performance
GRNB vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, GRNB achieves a 0.61% return, which is significantly higher than BND's 0.46% return.
GRNB
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 0.61%
- 6M
- 0.76%
- 1Y
- 5.18%
- 3Y*
- 5.13%
- 5Y*
- 0.89%
- 10Y*
- —
BND
- 1D
- 0.03%
- 1M
- 0.12%
- YTD
- 0.46%
- 6M
- 0.46%
- 1Y
- 5.19%
- 3Y*
- 4.03%
- 5Y*
- 0.20%
- 10Y*
- 1.60%
GRNB vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRNB VanEck Green Bond ETF | 0.61% | 7.09% | 3.31% | 7.08% | -11.93% | -2.36% | 7.98% | 5.40% | -4.07% | 9.87% |
BND Vanguard Total Bond Market ETF | 0.46% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.34% |
Correlation
The correlation between GRNB and BND is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2017 | 0.75 |
The correlation between GRNB and BND shifts across timeframes, from 0.75 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GRNB vs. BND — Risk / Return Rank
GRNB
BND
GRNB vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Green Bond ETF (GRNB) 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.
| GRNB | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | 1.38 | +0.38 |
Sortino ratioReturn per unit of downside risk | 2.58 | 2.07 | +0.51 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.24 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.03 | 1.85 | +0.17 |
Martin ratioReturn relative to average drawdown | 7.96 | 5.66 | +2.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GRNB | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 1.38 | +0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.03 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.59 | -0.12 |
Drawdowns
GRNB vs. BND - Drawdown Comparison
The maximum GRNB drawdown since its inception was -18.08%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for GRNB and BND.
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Drawdown Indicators
| GRNB | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.08% | -18.58% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -2.68% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -4.24% | -5.92% | +1.68% |
Max Drawdown (5Y)Largest decline over 5 years | -17.94% | -17.91% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -0.39% | -2.18% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -4.58% | -3.06% | -1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.88% | -0.24% |
Volatility
GRNB vs. BND - Volatility Comparison
The current volatility for VanEck Green Bond ETF (GRNB) is 0.98%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.26%. This indicates that GRNB experiences smaller price fluctuations and is considered to be less risky 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
| GRNB | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.26% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 2.68% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 3.78% | -0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.92% | 6.02% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 5.53% | -0.65% |
GRNB vs. BND - Expense Ratio Comparison
GRNB 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
GRNB vs. BND - Dividend Comparison
GRNB's dividend yield for the trailing twelve months is around 4.23%, more 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% |
GRNB VanEck Green Bond ETF | 4.23% | 4.18% | 3.83% | 3.17% | 2.60% | 1.97% | 2.24% | 1.79% | 1.21% | 1.09% | 0.00% | 0.00% |
Frequently Asked Questions
GRNB and BND have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BND has higher volatility (1.26%) compared to GRNB (0.98%). In terms of maximum drawdown, GRNB dropped -18.08% vs BND's -18.58%.
On 5-year performance, GRNB leads with 0.89% vs 0.20% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, GRNB has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GRNB has performed better with a 0.89% return vs 0.20%. 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 GRNB.
GRNB has the higher dividend yield at 4.23%, compared with 3.96% for BND.
GRNB is categorized as Global Bonds, while BND is Total Bond Market. GRNB tracks S&P Green Bond U.S. Dollar Select Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.20% for GRNB and 0.03% for BND.
GRNB currently has the higher Sharpe Ratio (1.76 vs 1.38), 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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