VBLAX vs. BNDW
VBLAX (Vanguard Long-Term Bond Index Fund Admiral Shares) and BNDW (Vanguard Total World Bond ETF) are both funds - VBLAX is a Total Bond Market fund managed by Vanguard, while BNDW is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted Composite Index. Over the past 5 years, VBLAX returned -5.20%/yr vs -0.24%/yr for BNDW. Their correlation of 0.89 means they have usually moved in the same direction. VBLAX charges 0.07%/yr vs 0.05%/yr for BNDW.
Performance
VBLAX vs. BNDW - Performance Comparison
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Returns By Period
In the year-to-date period, VBLAX achieves a -3.42% return, which is significantly lower than BNDW's 0.16% return.
VBLAX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.26%
- YTD
- -3.42%
- 1Y
- -1.17%
- 3Y*
- 1.23%
- 5Y*
- -5.20%
- 10Y*
- —
- ALL TIME*
- 0.08%
BNDW
- 1D
- 0.37%
- 1M
- -0.72%
- 6M
- -0.13%
- YTD
- 0.16%
- 1Y
- 1.63%
- 3Y*
- 4.09%
- 5Y*
- -0.24%
- 10Y*
- —
- ALL TIME*
- 1.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.66M | $6.09M | $6.94M | |
| $0.00 | $0.00 | $0.00 |
VBLAX vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -3.42% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
BNDW Vanguard Total World Bond ETF | 0.16% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 7.26% |
Correlation
The correlation between VBLAX and BNDW is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.89 |
The correlation between VBLAX and BNDW has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.
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Return for Risk
VBLAX vs. BNDW — Risk / Return Rank
VBLAX
BNDW
VBLAX vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) 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.
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.
| VBLAX | BNDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.08 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.61 | -0.63 |
| Martin ratioReturn relative to average drawdown | -0.05 | 1.46 | -1.51 |
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Drawdowns
VBLAX vs. BNDW - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for VBLAX and BNDW.
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Drawdown Indicators
| VBLAX | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -17.22% | -21.40% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -2.70% | -3.75% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -3.57% | -7.99% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -16.82% | -19.50% |
Current DrawdownCurrent decline from peak | -27.42% | -1.78% | -25.64% |
Average DrawdownAverage peak-to-trough decline | -18.25% | -4.90% | -13.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.12% | +1.63% |
Volatility
VBLAX vs. BNDW - Volatility Comparison
Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a higher volatility of 2.10% compared to Vanguard Total World Bond ETF (BNDW) at 1.04%. This indicates that VBLAX'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.
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Volatility by Period
| VBLAX | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 1.04% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 2.84% | +3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 3.36% | +4.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 5.23% | +7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.56% | 4.88% | +7.68% |
VBLAX vs. BNDW - Expense Ratio Comparison
VBLAX has a 0.07% 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
VBLAX vs. BNDW - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.54%, more than BNDW's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BNDW Vanguard Total World Bond ETF | 4.28% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% |
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.54% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, VBLAX and BNDW 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.
VBLAX has higher volatility (2.10%) compared to BNDW (1.04%). In terms of maximum drawdown, VBLAX dropped -38.62% vs BNDW's -17.22%.
BNDW currently has the higher Sharpe Ratio (0.49 vs -0.02), 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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