JPIB vs. BNDW

Last updated Jun 4, 2026

JPIB (JPMorgan International Bond Opportunities ETF) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds. JPIB is actively managed, while BNDW is passively managed. Over the past 5 years, JPIB returned 2.83%/yr vs 0.22%/yr for BNDW. At a 0.49 correlation, their price movements are largely independent. JPIB charges 0.50%/yr vs 0.05%/yr for BNDW.

Performance

JPIB vs. BNDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan International Bond Opportunities ETF (JPIB) 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, JPIB achieves a 0.74% return, which is significantly higher than BNDW's 0.42% return.

JPIB

• 1D: -0.25%
• 1M: 0.81%
• YTD: 0.74%
• 6M: 0.71%
• 1Y: 5.13%
• 3Y*: 5.79%
• 5Y*: 2.83%
• 10Y*: —

BNDW

• 1D: -0.26%
• 1M: 0.44%
• YTD: 0.42%
• 6M: 0.18%
• 1Y: 3.51%
• 3Y*: 3.99%
• 5Y*: 0.22%
• 10Y*: —

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

JPIB vs. BNDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JPIB JPMorgan International Bond Opportunities ETF	0.74%	8.19%	3.48%	8.68%	-6.38%	0.14%	7.14%	10.76%	-0.80%
BNDW Vanguard Total World Bond ETF	0.42%	5.02%	2.42%	7.18%	-12.88%	-2.10%	6.22%	8.37%	1.21%

Correlation

The correlation between JPIB and BNDW is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018	0.49

Over the past year, JPIB and BNDW have become more correlated (0.72) than their long-term average of 0.49, meaning their price movements have been converging.

JPIB vs. BNDW - Sectors Allocation Comparison

Sectors	JPIB	BNDW
Financial Services	13.4%	-
Communication Services	4.0%	-
Utilities	2.2%	-
Energy	1.0%	-
Consumer Cyclical	1.0%	-
Healthcare	0.7%	-
Technology	0.6%	100.0%
Basic Materials	0.3%	-
Real Estate	0.2%	-
Consumer Defensive	0.1%	-
Industrials	0.1%	-

Return for Risk

JPIB vs. BNDW — Risk / Return Rank

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

JPIB

JPIB Risk / Return Rank: 37
JPIB Sharpe Ratio Rank: 41
JPIB Sortino Ratio Rank: 40
JPIB Omega Ratio Rank: 45
JPIB Calmar Ratio Rank: 28
JPIB Martin Ratio Rank: 32

BNDW

BNDW Risk / Return Rank: 27
BNDW Sharpe Ratio Rank: 28
BNDW Sortino Ratio Rank: 27
BNDW Omega Ratio Rank: 26
BNDW Calmar Ratio Rank: 27
BNDW Martin Ratio Rank: 26

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.

JPIB vs. BNDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Bond Opportunities ETF (JPIB) 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.

	JPIB	BNDW	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.05	+0.41
Sortino ratio: Return per unit of downside risk	2.07	1.50	+0.57
Omega ratio: Gain probability vs. loss probability	1.29	1.18	+0.11
Calmar ratio: Return relative to maximum drawdown	1.37	1.31	+0.06
Martin ratio: Return relative to average drawdown	4.78	3.70	+1.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPIB vs. BNDW - Sharpe Ratio Comparison

The current JPIB Sharpe Ratio is 1.46, which is higher than the BNDW Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of JPIB 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.

Sharpe Ratios by Period

	JPIB	BNDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.05	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.04	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.37	+0.45

Drawdowns

JPIB vs. BNDW - Drawdown Comparison

The maximum JPIB drawdown since its inception was -13.13%, smaller than the maximum BNDW drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for JPIB and BNDW.

Drawdown Indicators

	JPIB	BNDW	Difference
Max Drawdown Largest peak-to-trough decline	-13.13%	-17.22%	+4.09%
Max Drawdown (1Y) Largest decline over 1 year	-3.75%	-2.70%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-3.75%	-4.27%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-11.83%	-16.93%	+5.10%
Current Drawdown Current decline from peak	-1.12%	-1.53%	+0.41%
Average Drawdown Average peak-to-trough decline	-1.93%	-4.98%	+3.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.95%	+0.12%

Volatility

JPIB vs. BNDW - Volatility Comparison

The current volatility for JPMorgan International Bond Opportunities ETF (JPIB) is 1.08%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 1.31%. This indicates that JPIB experiences smaller price fluctuations and is considered to be less risky than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPIB	BNDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	1.31%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	3.00%	2.62%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.53%	3.36%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.11%	5.21%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.44%	4.90%	-0.46%

JPIB vs. BNDW - Expense Ratio Comparison

JPIB has a 0.50% expense ratio, which is higher than BNDW's 0.05% expense ratio.

Dividends

JPIB vs. BNDW - Dividend Comparison

JPIB's dividend yield for the trailing twelve months is around 5.02%, more than BNDW's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BNDW Vanguard Total World Bond ETF	4.21%	4.12%	3.90%	3.73%	2.02%	2.58%	1.56%	3.05%	1.66%	0.00%
JPIB JPMorgan International Bond Opportunities ETF	5.02%	4.85%	4.57%	4.35%	3.10%	2.59%	3.14%	4.66%	5.83%	1.81%

Frequently Asked Questions

Can I hold both JPIB and BNDW in my portfolio?

JPIB and BNDW have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPIB or BNDW?

BNDW has higher volatility (1.31%) compared to JPIB (1.08%). In terms of maximum drawdown, JPIB dropped -13.13% vs BNDW's -17.22%.

Which ETF is better, JPIB or BNDW?

On 5-year performance, JPIB leads with 2.83% vs 0.22% for BNDW. On fees, BNDW is cheaper at 0.05% per year. On volatility, JPIB has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPIB or BNDW?

Over the 5-year period, JPIB has performed better with a 2.83% return vs 0.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPIB or BNDW?

BNDW is cheaper with a 0.05% expense ratio, compared with 0.50% for JPIB.

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

JPIB has the higher dividend yield at 5.02%, compared with 4.21% for BNDW.

What is the main difference between JPIB and BNDW?

They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.50% for JPIB and 0.05% for BNDW.

Which has better risk-adjusted returns?

JPIB currently has the higher Sharpe Ratio (1.46 vs 1.05), 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.