VAGF.DE vs. BNDW

Last updated Jun 5, 2026

VAGF.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) and BNDW (Vanguard Total World Bond ETF) are both Global Bonds funds from Vanguard - VAGF.DE tracks the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged) while BNDW tracks the Bloomberg Global Aggregate Float Adjusted Composite Index. Both are passively managed. Over the past 5 years, VAGF.DE returned -1.66%/yr vs 1.18%/yr for BNDW. At a 0.27 correlation, their price movements are largely independent. VAGF.DE charges 0.10%/yr vs 0.05%/yr for BNDW.

Performance

VAGF.DE vs. BNDW - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

In the year-to-date period, VAGF.DE achieves a -0.68% return, which is significantly lower than BNDW's 1.68% return.

VAGF.DE

• 1D: 0.09%
• 1M: 0.25%
• YTD: -0.68%
• 6M: -0.51%
• 1Y: 1.20%
• 3Y*: 2.04%
• 5Y*: -1.66%
• 10Y*: —

BNDW

• 1D: -0.02%
• 1M: 1.09%
• YTD: 1.68%
• 6M: 0.71%
• 1Y: 1.52%
• 3Y*: 1.30%
• 5Y*: 1.18%
• 10Y*: —

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

VAGF.DE vs. BNDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc	-0.68%	3.23%	0.82%	4.53%	-14.84%	-2.97%	5.07%	0.73%
BNDW Vanguard Total World Bond ETF	1.68%	-7.44%	9.18%	3.97%	-7.48%	5.23%	-2.54%	2.87%

Correlation

The correlation between VAGF.DE and BNDW is 0.00, 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	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019	0.27

Over the past year, the correlation between VAGF.DE and BNDW has dropped to 0.00 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

Return for Risk

VAGF.DE vs. BNDW — Risk / Return Rank

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

VAGF.DE

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

BNDW

BNDW Risk / Return Rank: 26
BNDW Sharpe Ratio Rank: 28
BNDW Sortino Ratio Rank: 26
BNDW Omega Ratio Rank: 26
BNDW Calmar Ratio Rank: 26
BNDW Martin Ratio Rank: 26

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.

VAGF.DE vs. BNDW - Risk-Adjusted Trends Comparison

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

	VAGF.DE	BNDW	Difference
Sharpe ratio: Return per unit of total volatility	0.33	0.26	+0.07
Sortino ratio: Return per unit of downside risk	0.50	0.41	+0.09
Omega ratio: Gain probability vs. loss probability	1.06	1.05	+0.01
Calmar ratio: Return relative to maximum drawdown	0.38	0.34	+0.04
Martin ratio: Return relative to average drawdown	1.06	0.94	+0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAGF.DE vs. BNDW - Sharpe Ratio Comparison

The current VAGF.DE Sharpe Ratio is 0.33, which is comparable to the BNDW Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of VAGF.DE and BNDW, 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

	VAGF.DE	BNDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	0.26	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	0.15	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	0.24	-0.41

Drawdowns

VAGF.DE vs. BNDW - Drawdown Comparison

The maximum VAGF.DE drawdown since its inception was -19.57%, which is greater than BNDW's maximum drawdown of -13.02%. Use the drawdown chart below to compare losses from any high point for VAGF.DE and BNDW.

Drawdown Indicators

	VAGF.DE	BNDW	Difference
Max Drawdown Largest peak-to-trough decline	-19.57%	-13.02%	-6.55%
Max Drawdown (1Y) Largest decline over 1 year	-3.11%	-4.45%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-4.45%	-11.33%	+6.88%
Max Drawdown (5Y) Largest decline over 5 years	-18.79%	-12.17%	-6.62%
Current Drawdown Current decline from peak	-10.73%	-7.54%	-3.19%
Average Drawdown Average peak-to-trough decline	-8.99%	-5.77%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	1.64%	-0.51%

Volatility

VAGF.DE vs. BNDW - Volatility Comparison

Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) has a higher volatility of 1.55% compared to Vanguard Total World Bond ETF (BNDW) at 0.95%. This indicates that VAGF.DE's price experiences larger fluctuations and is considered to be riskier than BNDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VAGF.DE	BNDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	0.95%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	2.98%	4.20%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	5.83%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.90%	8.06%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.71%	7.84%	-3.13%

VAGF.DE vs. BNDW - Expense Ratio Comparison

VAGF.DE has a 0.10% expense ratio, which is higher than BNDW's 0.05% 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

VAGF.DE vs. BNDW - Dividend Comparison

VAGF.DE has not paid dividends to shareholders, while BNDW's dividend yield for the trailing twelve months is around 4.21%.

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%
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VAGF.DE and BNDW in my portfolio?

VAGF.DE and BNDW have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VAGF.DE or BNDW?

On fees, BNDW 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, VAGF.DE or BNDW?

BNDW is cheaper with a 0.05% expense ratio, compared with 0.10% for VAGF.DE.

What is the main difference between VAGF.DE and BNDW?

VAGF.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged), while BNDW tracks Bloomberg Global Aggregate Float Adjusted Composite Index. Their fees differ too: 0.10% for VAGF.DE and 0.05% for BNDW.