HCRB vs. BNDW

Last updated Jun 24, 2026

HCRB (Hartford Core Bond ETF) and BNDW (Vanguard Total World Bond ETF) are both exchange-traded funds - HCRB is a Intermediate Core Bond fund actively managed by Hartford, while BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index. HCRB is actively managed, while BNDW is passively managed. Over the past 5 years, HCRB returned 0.12%/yr vs 0.27%/yr for BNDW. Their correlation of 0.92 suggests significant overlap in exposure. HCRB charges 0.29%/yr vs 0.05%/yr for BNDW.

Performance

HCRB vs. BNDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Core Bond ETF (HCRB) 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, HCRB achieves a 0.55% return, which is significantly lower than BNDW's 0.88% return.

HCRB

• 1D: 0.17%
• 1M: 0.86%
• YTD: 0.55%
• 6M: 0.65%
• 1Y: 4.51%
• 3Y*: 4.46%
• 5Y*: 0.12%
• 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)

HCRB vs. BNDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HCRB Hartford Core Bond ETF	0.55%	7.06%	2.23%	6.98%	-14.61%	-1.79%	6.87%
BNDW Vanguard Total World Bond ETF	0.88%	5.02%	2.42%	7.18%	-12.88%	-2.10%	4.12%

Correlation

The correlation between HCRB and BNDW is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 20, 2020	0.92

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

Return for Risk

HCRB vs. BNDW — Risk / Return Rank

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

HCRB

HCRB Risk / Return Rank: 34
HCRB Sharpe Ratio Rank: 36
HCRB Sortino Ratio Rank: 36
HCRB Omega Ratio Rank: 34
HCRB Calmar Ratio Rank: 34
HCRB Martin Ratio Rank: 33

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.

HCRB vs. BNDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Core Bond ETF (HCRB) 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.

	HCRB	BNDW	Difference
Sharpe ratio: Return per unit of total volatility	1.21	0.97	+0.24
Sortino ratio: Return per unit of downside risk	1.80	1.40	+0.40
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.61	1.20	+0.40
Martin ratio: Return relative to average drawdown	4.58	3.24	+1.34

HCRB vs. BNDW - Sharpe Ratio Comparison

The current HCRB Sharpe Ratio is 1.21, which is comparable to the BNDW Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of HCRB 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

HCRB vs. BNDW - Drawdown Comparison

The maximum HCRB drawdown since its inception was -19.90%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for HCRB and BNDW.

Drawdown Indicators

	HCRB	BNDW	Difference
Max Drawdown Largest peak-to-trough decline	-19.90%	-17.22%	-2.68%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.70%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	-4.27%	-1.91%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-16.93%	-2.49%
Current Drawdown Current decline from peak	-1.49%	-1.08%	-0.41%
Average Drawdown Average peak-to-trough decline	-6.97%	-4.95%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.00%	-0.01%

Volatility

HCRB vs. BNDW - Volatility Comparison

Hartford Core Bond ETF (HCRB) has a higher volatility of 1.10% compared to Vanguard Total World Bond ETF (BNDW) at 0.92%. This indicates that HCRB'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

	HCRB	BNDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	0.92%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	2.70%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.75%	3.35%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.13%	5.22%	+0.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.94%	4.89%	+1.05%

HCRB vs. BNDW - Expense Ratio Comparison

HCRB has a 0.29% expense ratio, which is higher than BNDW's 0.05% expense ratio.

Dividends

HCRB vs. BNDW - Dividend Comparison

HCRB's dividend yield for the trailing twelve months is around 4.17%, which matches 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%
HCRB Hartford Core Bond ETF	4.17%	4.12%	4.15%	3.39%	2.18%	1.47%	1.81%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCRB and BNDW in my portfolio?

With a correlation of 0.93, HCRB 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, HCRB or BNDW?

HCRB has higher volatility (1.10%) compared to BNDW (0.92%). In terms of maximum drawdown, HCRB dropped -19.90% vs BNDW's -17.22%.

Which ETF is better, HCRB or BNDW?

On 5-year performance, BNDW leads with 0.27% vs 0.12% for HCRB. 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, HCRB or BNDW?

Over the 5-year period, BNDW has performed better with a 0.27% return vs 0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCRB or BNDW?

BNDW is cheaper with a 0.05% expense ratio, compared with 0.29% for HCRB.

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

BNDW has the higher dividend yield at 4.19%, compared with 4.17% for HCRB.

What is the main difference between HCRB and BNDW?

HCRB is categorized as Intermediate Core Bond, while BNDW is Global Bonds. They also come from different issuers: Hartford and Vanguard. Their fees differ too: 0.29% for HCRB and 0.05% for BNDW.

Which has better risk-adjusted returns?

HCRB currently has the higher Sharpe Ratio (1.21 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.