HPRD.L vs. BND

Last updated Jun 5, 2026

HPRD.L (HSBC FTSE EPRA NAREIT Developed UCITS ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - HPRD.L is a REIT fund tracking the FTSE EPRA Nareit Global TR USD, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, HPRD.L returned 3.52%/yr vs 1.61%/yr for BND. At a 0.14 correlation, their price movements are largely independent. HPRD.L charges 0.24%/yr vs 0.03%/yr for BND.

Performance

HPRD.L vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HPRD.L achieves a 6.60% return, which is significantly higher than BND's 0.41% return. Over the past 10 years, HPRD.L has outperformed BND with an annualized return of 3.52%, while BND has yielded a comparatively lower 1.61% annualized return.

HPRD.L

• 1D: 0.13%
• 1M: -1.76%
• YTD: 6.60%
• 6M: 7.06%
• 1Y: 11.93%
• 3Y*: 9.23%
• 5Y*: 1.18%
• 10Y*: 3.52%

BND

• 1D: 0.14%
• 1M: 0.23%
• YTD: 0.41%
• 6M: 0.44%
• 1Y: 4.60%
• 3Y*: 4.01%
• 5Y*: 0.11%
• 10Y*: 1.61%

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

HPRD.L vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HPRD.L HSBC FTSE EPRA NAREIT Developed UCITS ETF	6.60%	10.90%	-0.19%	10.88%	-24.76%	26.43%	-8.89%	20.96%	-5.41%	11.57%
BND Vanguard Total Bond Market ETF	0.41%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between HPRD.L and BND is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jun 24, 2011	0.14

The correlation between HPRD.L and BND shifts across timeframes, from 0.14 (all time) to 0.36 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

HPRD.L vs. BND — Risk / Return Rank

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

HPRD.L

HPRD.L Risk / Return Rank: 28
HPRD.L Sharpe Ratio Rank: 28
HPRD.L Sortino Ratio Rank: 28
HPRD.L Omega Ratio Rank: 26
HPRD.L Calmar Ratio Rank: 25
HPRD.L Martin Ratio Rank: 30

BND

BND Risk / Return Rank: 35
BND Sharpe Ratio Rank: 35
BND Sortino Ratio Rank: 36
BND Omega Ratio Rank: 33
BND Calmar Ratio Rank: 35
BND Martin Ratio Rank: 35

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.

HPRD.L vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) 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.

	HPRD.L	BND	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.24	-0.25
Sortino ratio: Return per unit of downside risk	1.50	1.84	-0.34
Omega ratio: Gain probability vs. loss probability	1.18	1.22	-0.04
Calmar ratio: Return relative to maximum drawdown	1.17	1.73	-0.55
Martin ratio: Return relative to average drawdown	4.33	5.21	-0.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HPRD.L vs. BND - Sharpe Ratio Comparison

The current HPRD.L Sharpe Ratio is 0.99, which is comparable to the BND Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of HPRD.L and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HPRD.L	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.99	1.24	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.02	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.29	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.59	-0.28

Drawdowns

HPRD.L vs. BND - Drawdown Comparison

The maximum HPRD.L drawdown since its inception was -41.81%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for HPRD.L and BND.

Drawdown Indicators

	HPRD.L	BND	Difference
Max Drawdown Largest peak-to-trough decline	-41.81%	-18.58%	-23.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.12%	-2.68%	-7.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.25%	-5.92%	-12.33%
Max Drawdown (5Y) Largest decline over 5 years	-33.48%	-17.91%	-15.57%
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	-18.58%	-23.23%
Current Drawdown Current decline from peak	-3.76%	-2.23%	-1.53%
Average Drawdown Average peak-to-trough decline	-9.43%	-3.06%	-6.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	0.89%	+1.86%

Volatility

HPRD.L vs. BND - Volatility Comparison

HSBC FTSE EPRA NAREIT Developed UCITS ETF (HPRD.L) has a higher volatility of 3.69% compared to Vanguard Total Bond Market ETF (BND) at 1.22%. This indicates that HPRD.L's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HPRD.L	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	1.22%	+2.47%
Volatility (6M) Calculated over the trailing 6-month period	9.30%	2.66%	+6.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	3.78%	+8.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	6.02%	+10.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.93%	5.53%	+11.40%

HPRD.L vs. BND - Expense Ratio Comparison

HPRD.L has a 0.24% 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

HPRD.L vs. BND - Dividend Comparison

HPRD.L's dividend yield for the trailing twelve months is around 3.06%, less 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%
HPRD.L HSBC FTSE EPRA NAREIT Developed UCITS ETF	3.06%	3.17%	3.39%	3.35%	3.53%	2.30%	2.88%	2.96%	3.43%	2.89%	3.13%	2.72%

Frequently Asked Questions

Can I hold both HPRD.L and BND in my portfolio?

HPRD.L and BND have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HPRD.L or BND?

On fees, BND is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HPRD.L or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.24% for HPRD.L.

What is the main difference between HPRD.L and BND?

HPRD.L is categorized as REIT, while BND is Total Bond Market. HPRD.L tracks FTSE EPRA Nareit Global TR USD, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: HSBC and Vanguard. Their fees differ too: 0.24% for HPRD.L and 0.03% for BND.