MLN vs. BNDX
MLN (VanEck Long Muni ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - MLN is a Municipal Bonds fund tracking the Bloomberg AMT-Free Long Continuous, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, MLN returned 1.49%/yr vs 1.68%/yr for BNDX. At a 0.48 correlation, their price movements are largely independent. MLN charges 0.24%/yr vs 0.07%/yr for BNDX.
Performance
MLN vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, MLN achieves a 1.92% return, which is significantly higher than BNDX's 0.54% return. Over the past 10 years, MLN has underperformed BNDX with an annualized return of 1.49%, while BNDX has yielded a comparatively higher 1.68% annualized return.
MLN
- 1D
- -0.26%
- 1M
- 0.46%
- YTD
- 1.92%
- 6M
- 2.58%
- 1Y
- 9.33%
- 3Y*
- 3.46%
- 5Y*
- -1.05%
- 10Y*
- 1.49%
BNDX
- 1D
- -0.35%
- 1M
- 0.63%
- YTD
- 0.54%
- 6M
- 0.23%
- 1Y
- 1.82%
- 3Y*
- 4.03%
- 5Y*
- 0.33%
- 10Y*
- 1.68%
MLN vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLN VanEck Long Muni ETF | 1.92% | 1.82% | 1.54% | 8.05% | -17.20% | 2.20% | 6.22% | 10.72% | -0.77% | 8.19% |
BNDX Vanguard Total International Bond ETF | 0.54% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between MLN and BNDX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2013 | 0.48 |
The correlation between MLN and BNDX shifts across timeframes, from 0.48 (all time) to 0.62 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MLN vs. BNDX — Risk / Return Rank
MLN
BNDX
MLN vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Long Muni ETF (MLN) and Vanguard Total International Bond ETF (BNDX). 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.
| MLN | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.57 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.10 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 0.62 | +3.04 |
| Martin ratioReturn relative to average drawdown | 12.02 | 1.78 | +10.24 |
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
| MLN | BNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 0.53 | +1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.07 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.41 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.61 | -0.28 |
Drawdowns
MLN vs. BNDX - Drawdown Comparison
The maximum MLN drawdown since its inception was -28.36%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for MLN and BNDX.
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Drawdown Indicators
| MLN | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.36% | -16.23% | -12.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.56% | -2.93% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -9.84% | -2.93% | -6.91% |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | -15.86% | -8.60% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -16.23% | -8.23% |
Current DrawdownCurrent decline from peak | -6.58% | -1.49% | -5.09% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -3.09% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.02% | -0.24% |
Volatility
MLN vs. BNDX - Volatility Comparison
VanEck Long Muni ETF (MLN) and Vanguard Total International Bond ETF (BNDX) have volatilities of 1.56% and 1.57%, 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
| MLN | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.57% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.19% | 2.91% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.45% | 3.43% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.31% | 4.88% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.88% | 4.09% | +4.79% |
MLN vs. BNDX - Expense Ratio Comparison
MLN has a 0.24% expense ratio, which is higher than BNDX's 0.07% 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
MLN vs. BNDX - Dividend Comparison
MLN's dividend yield for the trailing twelve months is around 3.71%, less than BNDX's 4.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.49% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
MLN VanEck Long Muni ETF | 3.71% | 3.73% | 3.59% | 3.19% | 2.67% | 2.52% | 2.69% | 2.98% | 3.09% | 2.91% | 3.16% | 3.38% |
Frequently Asked Questions
MLN and BNDX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDX has higher volatility (1.57%) compared to MLN (1.56%). In terms of maximum drawdown, MLN dropped -28.36% vs BNDX's -16.23%.
On 10-year performance, BNDX leads with 1.68% vs 1.49% for MLN. On fees, BNDX is cheaper at 0.07% 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, BNDX has performed better with a 1.68% return vs 1.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDX is cheaper with a 0.07% expense ratio, compared with 0.24% for MLN.
BNDX has the higher dividend yield at 4.49%, compared with 3.71% for MLN.
MLN is categorized as Municipal Bonds, while BNDX is Global Bonds. MLN tracks Bloomberg AMT-Free Long Continuous, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: VanEck and Vanguard. Their fees differ too: 0.24% for MLN and 0.07% for BNDX.
MLN currently has the higher Sharpe Ratio (2.11 vs 0.53), 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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