OGVCX vs. BND

Last updated Jun 23, 2026

OGVCX (JPMorgan Government Bond Fund Class C) and BND (Vanguard Total Bond Market ETF) are both funds - OGVCX is a Government Bonds fund managed by JPMorgan, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, OGVCX returned 0.31%/yr vs 1.55%/yr for BND. Their correlation of 0.88 suggests significant overlap in exposure. OGVCX charges 1.39%/yr vs 0.03%/yr for BND.

Performance

OGVCX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Government Bond Fund Class C (OGVCX) 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, OGVCX achieves a -0.42% return, which is significantly lower than BND's 0.38% return. Over the past 10 years, OGVCX has underperformed BND with an annualized return of 0.31%, while BND has yielded a comparatively higher 1.55% annualized return.

OGVCX

• 1D: 0.21%
• 1M: 0.67%
• YTD: -0.42%
• 6M: -0.29%
• 1Y: 3.09%
• 3Y*: 2.67%
• 5Y*: -0.99%
• 10Y*: 0.31%

BND

• 1D: -0.27%
• 1M: 0.53%
• YTD: 0.38%
• 6M: 0.45%
• 1Y: 4.37%
• 3Y*: 3.92%
• 5Y*: 0.04%
• 10Y*: 1.55%

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

OGVCX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OGVCX JPMorgan Government Bond Fund Class C	-0.42%	5.99%	0.61%	3.50%	-12.55%	-3.00%	5.95%	5.76%	-0.05%	1.45%
BND Vanguard Total Bond Market ETF	0.38%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between OGVCX and BND is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007	0.88

The correlation between OGVCX and BND has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

Return for Risk

OGVCX vs. BND — Risk / Return Rank

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

OGVCX

OGVCX Risk / Return Rank: 11
OGVCX Sharpe Ratio Rank: 12
OGVCX Sortino Ratio Rank: 12
OGVCX Omega Ratio Rank: 10
OGVCX Calmar Ratio Rank: 10
OGVCX Martin Ratio Rank: 10

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 33
BND Sortino Ratio Rank: 34
BND Omega Ratio Rank: 31
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 33

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.

OGVCX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Government Bond Fund Class C (OGVCX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	OGVCX	BND	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.18	-0.31
Sortino ratio: Return per unit of downside risk	1.31	1.76	-0.45
Omega ratio: Gain probability vs. loss probability	1.15	1.21	-0.05
Calmar ratio: Return relative to maximum drawdown	0.95	1.64	-0.69
Martin ratio: Return relative to average drawdown	2.64	4.69	-2.04

OGVCX vs. BND - Sharpe Ratio Comparison

The current OGVCX Sharpe Ratio is 0.87, which is comparable to the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of OGVCX 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.

Drawdowns

OGVCX vs. BND - Drawdown Comparison

The maximum OGVCX drawdown since its inception was -19.66%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for OGVCX and BND.

Drawdown Indicators

	OGVCX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-19.66%	-18.58%	-1.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-2.68%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-6.09%	-5.92%	-0.17%
Max Drawdown (5Y) Largest decline over 5 years	-18.01%	-17.91%	-0.10%
Max Drawdown (10Y) Largest decline over 10 years	-19.66%	-18.58%	-1.08%
Current Drawdown Current decline from peak	-7.86%	-2.26%	-5.60%
Average Drawdown Average peak-to-trough decline	-3.54%	-3.06%	-0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.21%	0.93%	+0.28%

Volatility

OGVCX vs. BND - Volatility Comparison

JPMorgan Government Bond Fund Class C (OGVCX) and Vanguard Total Bond Market ETF (BND) have volatilities of 1.10% and 1.08%, 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.

Volatility by Period

	OGVCX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.08%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	2.77%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.74%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.59%	6.03%	-0.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.58%	5.54%	-0.96%

OGVCX vs. BND - Expense Ratio Comparison

OGVCX has a 1.39% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

OGVCX vs. BND - Dividend Comparison

OGVCX's dividend yield for the trailing twelve months is around 2.43%, 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%
OGVCX JPMorgan Government Bond Fund Class C	2.43%	2.24%	2.10%	1.82%	1.21%	0.58%	0.95%	1.49%	1.57%	1.54%	1.76%	2.90%

Frequently Asked Questions

Can I hold both OGVCX and BND in my portfolio?

With a correlation of 0.96, OGVCX 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, OGVCX or BND?

OGVCX has higher volatility (1.10%) compared to BND (1.08%). In terms of maximum drawdown, OGVCX dropped -19.66% vs BND's -18.58%.

Which has better risk-adjusted returns?

BND currently has the higher Sharpe Ratio (1.18 vs 0.87), 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.