PRIV vs. BNDP

Last updated Jun 4, 2026

PRIV (State Street IG Public & Private Credit ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds. PRIV is actively managed, while BNDP is passively managed. Their correlation of 0.85 suggests significant overlap in exposure. PRIV charges 0.55%/yr vs 0.05%/yr for BNDP.

Performance

PRIV vs. BNDP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street IG Public & Private Credit ETF (PRIV) and Vanguard Core-Plus Bond Index ETF (BNDP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRIV achieves a 0.55% return, which is significantly higher than BNDP's 0.34% return.

PRIV

• 1D: -0.26%
• 1M: 0.15%
• YTD: 0.55%
• 6M: 0.46%
• 1Y: 6.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BNDP

• 1D: -0.08%
• 1M: 0.41%
• YTD: 0.34%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRIV vs. BNDP - Yearly Performance Comparison

	2026 (YTD)	2025
PRIV State Street IG Public & Private Credit ETF	0.55%	0.11%
BNDP Vanguard Core-Plus Bond Index ETF	0.34%	0.10%

Correlation

The correlation between PRIV and BNDP is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.85

Return for Risk

PRIV vs. BNDP — Risk / Return Rank

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

PRIV

PRIV Risk / Return Rank: 50
PRIV Sharpe Ratio Rank: 49
PRIV Sortino Ratio Rank: 53
PRIV Omega Ratio Rank: 49
PRIV Calmar Ratio Rank: 49
PRIV Martin Ratio Rank: 48

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.

PRIV vs. BNDP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street IG Public & Private Credit ETF (PRIV) and Vanguard Core-Plus Bond Index ETF (BNDP). 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.

	PRIV	BNDP	Difference
Sharpe ratio: Return per unit of total volatility	1.65	—	—
Sortino ratio: Return per unit of downside risk	2.52	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.40	—	—
Martin ratio: Return relative to average drawdown	7.79	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PRIV	BNDP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.25	+0.86

Drawdowns

PRIV vs. BNDP - Drawdown Comparison

The maximum PRIV drawdown since its inception was -2.75%, which is greater than BNDP's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for PRIV and BNDP.

Drawdown Indicators

	PRIV	BNDP	Difference
Max Drawdown Largest peak-to-trough decline	-2.75%	-2.60%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	—	—
Current Drawdown Current decline from peak	-1.16%	-1.31%	+0.15%
Average Drawdown Average peak-to-trough decline	-0.66%	-0.86%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	—	—

Volatility

Volatility by Period

	PRIV	BNDP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.63%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	3.63%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	3.63%	+0.52%

PRIV vs. BNDP - Expense Ratio Comparison

PRIV has a 0.55% expense ratio, which is higher than BNDP's 0.05% expense ratio.

Dividends

PRIV vs. BNDP - Dividend Comparison

PRIV's dividend yield for the trailing twelve months is around 4.60%, more than BNDP's 2.08% yield.

Position	TTM	2025
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%
PRIV State Street IG Public & Private Credit ETF	4.60%	3.75%

Frequently Asked Questions

Can I hold both PRIV and BNDP in my portfolio?

PRIV and BNDP have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PRIV or BNDP?

On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PRIV or BNDP?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.55% for PRIV.

Which ETF pays a higher dividend yield, PRIV or BNDP?

PRIV has the higher dividend yield at 4.60%, compared with 2.08% for BNDP.

What is the main difference between PRIV and BNDP?

They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.55% for PRIV and 0.05% for BNDP.