VBTIX vs. BNDW
Compare and contrast key facts about Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) and Vanguard Total World Bond ETF (BNDW).
VBTIX is managed by Vanguard. It was launched on Sep 18, 1995. BNDW is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate Float Adjusted Composite Index. It was launched on Sep 4, 2018.
Performance
VBTIX vs. BNDW - Performance Comparison
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VBTIX vs. BNDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | -0.28% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | 1.17% |
BNDW Vanguard Total World Bond ETF | 0.09% | 5.02% | 2.42% | 7.18% | -12.88% | -2.10% | 6.22% | 8.37% | 1.21% |
Returns By Period
In the year-to-date period, VBTIX achieves a -0.28% return, which is significantly lower than BNDW's 0.09% return.
VBTIX
- 1D
- 0.21%
- 1M
- -1.63%
- YTD
- -0.28%
- 6M
- 0.40%
- 1Y
- 3.67%
- 3Y*
- 3.52%
- 5Y*
- 0.20%
- 10Y*
- 1.61%
BNDW
- 1D
- 0.13%
- 1M
- -1.46%
- YTD
- 0.09%
- 6M
- 0.53%
- 1Y
- 3.34%
- 3Y*
- 3.77%
- 5Y*
- 0.23%
- 10Y*
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VBTIX vs. BNDW - Expense Ratio Comparison
VBTIX has a 0.04% expense ratio, which is lower than BNDW's 0.05% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VBTIX vs. BNDW — Risk / Return Rank
VBTIX
BNDW
VBTIX vs. BNDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) 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.
| VBTIX | BNDW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 0.95 | -0.03 |
Sortino ratioReturn per unit of downside risk | 1.34 | 1.34 | 0.00 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.17 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.67 | 1.35 | +0.32 |
Martin ratioReturn relative to average drawdown | 4.72 | 4.95 | -0.23 |
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
| VBTIX | BNDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 0.95 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.04 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.37 | +0.57 |
Correlation
The correlation between VBTIX and BNDW is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBTIX vs. BNDW - Dividend Comparison
VBTIX's dividend yield for the trailing twelve months is around 3.62%, less than BNDW's 4.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 3.62% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
BNDW Vanguard Total World Bond ETF | 4.18% | 4.12% | 3.90% | 3.73% | 2.02% | 2.58% | 1.56% | 3.05% | 1.66% | 0.00% | 0.00% | 0.00% |
Drawdowns
VBTIX vs. BNDW - Drawdown Comparison
The maximum VBTIX drawdown since its inception was -18.90%, which is greater than BNDW's maximum drawdown of -17.22%. Use the drawdown chart below to compare losses from any high point for VBTIX and BNDW.
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Drawdown Indicators
| VBTIX | BNDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.90% | -17.22% | -1.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.70% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -16.93% | -1.20% |
Max Drawdown (10Y)Largest decline over 10 years | -18.90% | — | — |
Current DrawdownCurrent decline from peak | -2.94% | -1.85% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -5.05% | +2.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.73% | +0.24% |
Volatility
VBTIX vs. BNDW - Volatility Comparison
The current volatility for Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) is 1.55%, while Vanguard Total World Bond ETF (BNDW) has a volatility of 1.67%. This indicates that VBTIX 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
| VBTIX | BNDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.67% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 2.29% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 3.53% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.99% | 5.17% | +0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.97% | 4.92% | +0.05% |