IUSB vs. BND
IUSB (iShares Core Universal USD Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - IUSB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal 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 10 years, IUSB returned 1.90%/yr vs 1.55%/yr for BND. Their correlation of 0.91 suggests significant overlap in exposure. IUSB charges 0.06%/yr vs 0.03%/yr for BND.
Performance
IUSB vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, IUSB achieves a 0.28% return, which is significantly higher than BND's 0.15% return. Over the past 10 years, IUSB has outperformed BND with an annualized return of 1.90%, while BND has yielded a comparatively lower 1.55% annualized return.
IUSB
- 1D
- 0.24%
- 1M
- -0.43%
- YTD
- 0.28%
- 6M
- 0.70%
- 1Y
- 5.33%
- 3Y*
- 4.49%
- 5Y*
- 0.30%
- 10Y*
- 1.90%
BND
- 1D
- 0.22%
- 1M
- -0.45%
- YTD
- 0.15%
- 6M
- 0.52%
- 1Y
- 4.93%
- 3Y*
- 3.96%
- 5Y*
- -0.04%
- 10Y*
- 1.55%
IUSB vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSB iShares Core Universal USD Bond ETF | 0.28% | 7.38% | 2.11% | 6.23% | -13.04% | -1.33% | 7.62% | 9.13% | -0.27% | 3.82% |
BND Vanguard Total Bond Market ETF | 0.15% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between IUSB and BND is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2014 | 0.91 |
The correlation between IUSB and BND has been stable across timeframes, ranging from 0.91 to 0.99 - a consistent structural relationship.
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Return for Risk
IUSB vs. BND — Risk / Return Rank
IUSB
BND
IUSB vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Universal USD Bond ETF (IUSB) 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.
| IUSB | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.85 | +0.27 |
| Martin ratioReturn relative to average drawdown | 6.28 | 5.46 | +0.82 |
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
| IUSB | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 1.33 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | -0.01 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.28 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.59 | -0.13 |
Drawdowns
IUSB vs. BND - Drawdown Comparison
The maximum IUSB drawdown since its inception was -17.90%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for IUSB and BND.
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Drawdown Indicators
| IUSB | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.90% | -18.58% | +0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.68% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.82% | -5.92% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -17.91% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -17.90% | -18.58% | +0.68% |
Current DrawdownCurrent decline from peak | -1.48% | -2.49% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -3.59% | -3.06% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.91% | -0.06% |
Volatility
IUSB vs. BND - Volatility Comparison
iShares Core Universal USD Bond ETF (IUSB) and Vanguard Total Bond Market ETF (BND) have volatilities of 1.22% and 1.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSB | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.19% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 2.70% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.57% | 3.72% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.80% | 6.02% | -0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 5.53% | -0.49% |
IUSB vs. BND - Expense Ratio Comparison
IUSB has a 0.06% 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
IUSB vs. BND - Dividend Comparison
IUSB's dividend yield for the trailing twelve months is around 4.24%, more than BND's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.97% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
IUSB iShares Core Universal USD Bond ETF | 4.24% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
With a correlation of 0.99, IUSB and BND 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.
IUSB has higher volatility (1.22%) compared to BND (1.19%). In terms of maximum drawdown, IUSB dropped -17.90% vs BND's -18.58%.
On 10-year performance, IUSB leads with 1.90% vs 1.55% for BND. On fees, BND is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IUSB has performed better with a 1.90% return vs 1.55%. 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 0.06% for IUSB.
IUSB has the higher dividend yield at 4.24%, compared with 3.97% for BND.
IUSB is categorized as Intermediate Core-Plus Bond, while BND is Total Bond Market. IUSB tracks Bloomberg U.S. Universal Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.06% for IUSB and 0.03% for BND.
IUSB currently has the higher Sharpe Ratio (1.50 vs 1.33), 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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