NUAG vs. BND

Last updated Jun 3, 2026

NUAG (Nuveen Enhanced Yield U.S. Aggregate Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - NUAG is a Intermediate Core Bond fund tracking the ICE BofA Enhanced Yield US Broad Bond, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 5 years, NUAG returned 0.58%/yr vs 0.20%/yr for BND. Their correlation of 0.86 suggests significant overlap in exposure. NUAG charges 0.19%/yr vs 0.03%/yr for BND.

Performance

NUAG vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) 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, NUAG achieves a 0.69% return, which is significantly higher than BND's 0.46% return.

NUAG

• 1D: -0.04%
• 1M: 0.31%
• YTD: 0.69%
• 6M: 0.77%
• 1Y: 6.10%
• 3Y*: 4.96%
• 5Y*: 0.58%
• 10Y*: —

BND

• 1D: 0.03%
• 1M: 0.12%
• YTD: 0.46%
• 6M: 0.46%
• 1Y: 5.19%
• 3Y*: 4.03%
• 5Y*: 0.20%
• 10Y*: 1.60%

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

NUAG vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF	0.69%	7.37%	2.02%	7.52%	-13.97%	-2.03%	7.48%	10.13%	-1.45%	3.98%
BND Vanguard Total Bond Market ETF	0.46%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between NUAG and BND is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 16, 2016	0.86

The correlation between NUAG and BND shifts across timeframes, from 0.86 (all time) to 0.97 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

NUAG vs. BND — Risk / Return Rank

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

NUAG

NUAG Risk / Return Rank: 48
NUAG Sharpe Ratio Rank: 49
NUAG Sortino Ratio Rank: 52
NUAG Omega Ratio Rank: 48
NUAG Calmar Ratio Rank: 46
NUAG Martin Ratio Rank: 43

BND

BND Risk / Return Rank: 38
BND Sharpe Ratio Rank: 38
BND Sortino Ratio Rank: 40
BND Omega Ratio Rank: 36
BND Calmar Ratio Rank: 37
BND Martin Ratio Rank: 36

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.

NUAG vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) 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.

	NUAG	BND	Difference
Sharpe ratio Return per unit of total volatility	1.71	1.38	+0.33
Sortino ratio Return per unit of downside risk	2.57	2.07	+0.50
Omega ratio Gain probability vs. loss probability	1.31	1.24	+0.06
Calmar ratio Return relative to maximum drawdown	2.34	1.85	+0.48
Martin ratio Return relative to average drawdown	7.13	5.66	+1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUAG vs. BND - Sharpe Ratio Comparison

The current NUAG Sharpe Ratio is 1.71, which is comparable to the BND Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of NUAG 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

	NUAG	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	1.38	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.03	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.59	-0.27

Drawdowns

NUAG vs. BND - Drawdown Comparison

The maximum NUAG drawdown since its inception was -19.79%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for NUAG and BND.

Drawdown Indicators

	NUAG	BND	Difference
Max Drawdown Largest peak-to-trough decline	-19.79%	-18.58%	-1.21%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-2.68%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-5.61%	-5.92%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-19.19%	-17.91%	-1.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-1.04%	-2.18%	+1.14%
Average Drawdown Average peak-to-trough decline	-4.95%	-3.06%	-1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.88%	-0.05%

Volatility

NUAG vs. BND - Volatility Comparison

The current volatility for Nuveen Enhanced Yield U.S. Aggregate Bond ETF (NUAG) is 1.17%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.26%. This indicates that NUAG experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUAG	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.17%	1.26%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.61%	2.68%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	3.78%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	6.02%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.49%	5.53%	-0.04%

NUAG vs. BND - Expense Ratio Comparison

NUAG has a 0.19% 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

NUAG vs. BND - Dividend Comparison

NUAG's dividend yield for the trailing twelve months is around 4.49%, more 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%
NUAG Nuveen Enhanced Yield U.S. Aggregate Bond ETF	4.49%	4.43%	4.44%	3.95%	3.60%	2.27%	2.93%	3.54%	3.79%	3.38%	0.48%	0.00%

Frequently Asked Questions

Can I hold both NUAG and BND in my portfolio?

With a correlation of 0.95, NUAG 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.

Which is riskier, NUAG or BND?

BND has higher volatility (1.26%) compared to NUAG (1.17%). In terms of maximum drawdown, NUAG dropped -19.79% vs BND's -18.58%.

Which ETF is better, NUAG or BND?

On 5-year performance, NUAG leads with 0.58% vs 0.20% 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.

Which ETF has performed better, NUAG or BND?

Over the 5-year period, NUAG has performed better with a 0.58% return vs 0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUAG or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.19% for NUAG.

Which ETF pays a higher dividend yield, NUAG or BND?

NUAG has the higher dividend yield at 4.49%, compared with 3.96% for BND.

What is the main difference between NUAG and BND?

NUAG is categorized as Intermediate Core Bond, while BND is Total Bond Market. NUAG tracks ICE BofA Enhanced Yield US Broad Bond, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Nuveen and Vanguard. Their fees differ too: 0.19% for NUAG and 0.03% for BND.

Which has better risk-adjusted returns?

NUAG currently has the higher Sharpe Ratio (1.71 vs 1.38), 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.