VAGE.DE vs. BNDX

Last updated Jun 26, 2026

VAGE.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist) and BNDX (Vanguard Total International Bond ETF) are both Global Bonds funds from Vanguard - VAGE.DE tracks the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged) while BNDX tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 5 years, VAGE.DE returned -1.55%/yr vs 1.52%/yr for BNDX. At a 0.24 correlation, their price movements are largely independent. VAGE.DE charges 0.10%/yr vs 0.07%/yr for BNDX.

Performance

VAGE.DE vs. BNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) and Vanguard Total International Bond ETF (BNDX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VAGE.DE is traded in EUR, while BNDX is traded in USD. To make them comparable, the BNDX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, VAGE.DE achieves a 0.20% return, which is significantly lower than BNDX's 4.90% return.

VAGE.DE

• 1D: 0.00%
• 1M: 0.87%
• YTD: 0.20%
• 6M: 0.34%
• 1Y: 1.55%
• 3Y*: 2.24%
• 5Y*: -1.55%
• 10Y*: —

BNDX

• 1D: -0.09%
• 1M: 3.12%
• YTD: 4.90%
• 6M: 4.97%
• 1Y: 5.14%
• 3Y*: 2.78%
• 5Y*: 1.52%
• 10Y*: 1.38%

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

VAGE.DE vs. BNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VAGE.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist	0.20%	3.22%	0.75%	4.46%	-14.75%	-2.78%	4.85%	0.96%
BNDX Vanguard Total International Bond ETF	4.90%	-9.34%	10.41%	5.51%	-7.35%	5.02%	-3.98%	2.44%

Correlation

The correlation between VAGE.DE and BNDX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019	0.24

The correlation between VAGE.DE and BNDX shifts across timeframes, from 0.09 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VAGE.DE vs. BNDX — Risk / Return Rank

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

VAGE.DE

VAGE.DE Risk / Return Rank: 14
VAGE.DE Sharpe Ratio Rank: 15
VAGE.DE Sortino Ratio Rank: 13
VAGE.DE Omega Ratio Rank: 13
VAGE.DE Calmar Ratio Rank: 15
VAGE.DE Martin Ratio Rank: 15

BNDX

BNDX Risk / Return Rank: 21
BNDX Sharpe Ratio Rank: 22
BNDX Sortino Ratio Rank: 20
BNDX Omega Ratio Rank: 21
BNDX Calmar Ratio Rank: 21
BNDX Martin Ratio Rank: 22

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.

VAGE.DE vs. BNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) 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.

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.

	VAGE.DE	BNDX	Difference
Sharpe ratio: Return per unit of total volatility	0.41	0.86	-0.44
Sortino ratio: Return per unit of downside risk	0.62	1.24	-0.62
Omega ratio: Gain probability vs. loss probability	1.08	1.16	-0.08
Calmar ratio: Return relative to maximum drawdown	0.49	1.08	-0.59
Martin ratio: Return relative to average drawdown	1.30	2.80	-1.50

VAGE.DE vs. BNDX - Sharpe Ratio Comparison

The current VAGE.DE Sharpe Ratio is 0.41, which is lower than the BNDX Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of VAGE.DE and BNDX, 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

VAGE.DE vs. BNDX - Drawdown Comparison

The maximum VAGE.DE drawdown since its inception was -19.45%, which is greater than BNDX's maximum drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for VAGE.DE and BNDX.

Drawdown Indicators

	VAGE.DE	BNDX	Difference
Max Drawdown Largest peak-to-trough decline	-19.45%	-15.38%	-4.07%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-4.77%	+1.62%
Max Drawdown (3Y) Largest decline over 3 years	-4.31%	-12.36%	+8.05%
Max Drawdown (5Y) Largest decline over 5 years	-18.64%	-12.37%	-6.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.38%	—
Current Drawdown Current decline from peak	-9.96%	-6.14%	-3.82%
Average Drawdown Average peak-to-trough decline	-8.89%	-5.75%	-3.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.84%	-0.65%

Volatility

VAGE.DE vs. BNDX - Volatility Comparison

The current volatility for Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist (VAGE.DE) is 1.03%, while Vanguard Total International Bond ETF (BNDX) has a volatility of 1.39%. This indicates that VAGE.DE experiences smaller price fluctuations and is considered to be less risky than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAGE.DE	BNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	1.39%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	4.36%	-1.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.72%	6.05%	-2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.71%	8.39%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.49%	7.99%	-3.50%

VAGE.DE vs. BNDX - Expense Ratio Comparison

VAGE.DE has a 0.10% 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

VAGE.DE vs. BNDX - Dividend Comparison

VAGE.DE's dividend yield for the trailing twelve months is around 3.60%, less than BNDX's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BNDX Vanguard Total International Bond ETF	4.45%	4.39%	4.18%	4.42%	1.51%	3.74%	1.11%	3.40%	3.01%	2.23%	1.89%	1.63%
VAGE.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Dist	3.60%	3.52%	3.13%	2.39%	1.47%	0.87%	1.20%	0.60%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VAGE.DE and BNDX in my portfolio?

VAGE.DE and BNDX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAGE.DE or BNDX?

On fees, BNDX is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAGE.DE or BNDX?

BNDX is cheaper with a 0.07% expense ratio, compared with 0.10% for VAGE.DE.

What is the main difference between VAGE.DE and BNDX?

VAGE.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Their fees differ too: 0.10% for VAGE.DE and 0.07% for BNDX.