SPSK vs. BNDW
SPSK (SP Funds Dow Jones Global Sukuk ETF) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds - SPSK tracks the Dow Jones Sukuk Total Return (No Coupon Reinvestment) while BNDW tracks the Bloomberg Global Aggregate Float Adjusted Composite Index. Both are passively managed. Over the past 5 years, SPSK returned 0.83%/yr vs 0.22%/yr for BNDW. At a 0.46 correlation, their price movements are largely independent. SPSK charges 0.50%/yr vs 0.05%/yr for BNDW.
Performance
SPSK vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, SPSK achieves a 0.03% return, which is significantly lower than BNDW's 0.42% return.
SPSK
- 1D
- -0.22%
- 1M
- 0.40%
- YTD
- 0.03%
- 6M
- -0.08%
- 1Y
- 3.74%
- 3Y*
- 3.95%
- 5Y*
- 0.83%
- 10Y*
- —
BNDW
- 1D
- -0.26%
- 1M
- 0.44%
- YTD
- 0.42%
- 6M
- 0.18%
- 1Y
- 3.51%
- 3Y*
- 3.99%
- 5Y*
- 0.22%
- 10Y*
- —
SPSK vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPSK SP Funds Dow Jones Global Sukuk ETF | 0.03% | 6.16% | 2.95% | 3.95% | -7.75% | -1.30% | 3.67% | 0.02% |
BNDW Vanguard Total World Bond ETF | 0.42% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 0.03% |
Correlation
The correlation between SPSK and BNDW is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019 | 0.46 |
The correlation between SPSK and BNDW shifts across timeframes, from 0.46 (all time) to 0.58 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPSK vs. BNDW — Risk / Return Rank
SPSK
BNDW
SPSK vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SP Funds Dow Jones Global Sukuk ETF (SPSK) 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.
| SPSK | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.32 | 1.31 | +0.01 |
| Martin ratioReturn relative to average drawdown | 4.43 | 3.70 | +0.74 |
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
| SPSK | BNDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 1.05 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.04 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.37 | -0.17 |
Drawdowns
SPSK vs. BNDW - Drawdown Comparison
The maximum SPSK drawdown since its inception was -12.83%, smaller than the maximum BNDW drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for SPSK and BNDW.
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Drawdown Indicators
| SPSK | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.83% | -17.22% | +4.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -2.70% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -3.17% | -4.27% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -12.45% | -16.93% | +4.48% |
Current DrawdownCurrent decline from peak | -1.03% | -1.53% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -4.98% | +1.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.95% | -0.11% |
Volatility
SPSK vs. BNDW - Volatility Comparison
The current volatility for SP Funds Dow Jones Global Sukuk ETF (SPSK) is 0.96%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 1.31%. This indicates that SPSK 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.
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Volatility by Period
| SPSK | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.31% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 2.62% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 3.36% | +0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 5.21% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.46% | 4.90% | +0.56% |
SPSK vs. BNDW - Expense Ratio Comparison
SPSK has a 0.50% expense ratio, which is higher than BNDW's 0.05% expense ratio.
Dividends
SPSK vs. BNDW - Dividend Comparison
SPSK's dividend yield for the trailing twelve months is around 4.24%, which matches BNDW's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.21% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% |
SPSK SP Funds Dow Jones Global Sukuk ETF | 4.24% | 3.63% | 3.53% | 2.95% | 2.22% | 2.56% | 1.78% | 0.00% | 0.00% |
Frequently Asked Questions
SPSK and BNDW have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BNDW has higher volatility (1.31%) compared to SPSK (0.96%). In terms of maximum drawdown, SPSK dropped -12.83% vs BNDW's -17.22%.
On 5-year performance, SPSK leads with 0.83% vs 0.22% for BNDW. On fees, BNDW is cheaper at 0.05% per year. On volatility, SPSK has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPSK has performed better with a 0.83% return vs 0.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDW is cheaper with a 0.05% expense ratio, compared with 0.50% for SPSK.
SPSK has the higher dividend yield at 4.24%, compared with 4.21% for BNDW.
SPSK tracks Dow Jones Sukuk Total Return (No Coupon Reinvestment), while BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index. They also come from different issuers: SP Funds and Vanguard. Their fees differ too: 0.50% for SPSK and 0.05% for BNDW.
BNDW currently has the higher Sharpe Ratio (1.05 vs 0.98), 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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