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VDHG.AX vs. VBND.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VDHG.AX vs. VBND.AX

Last updated Jul 18, 2026
Documentation

VDHG.AX (Vanguard Diversified High Growth INDEX ETF) and VBND.AX (Vanguard Global Aggregate Bond (Hedged) Index ETF) are both exchange-traded funds - VDHG.AX is a Large Cap Growth Equities fund actively managed by Vanguard, while VBND.AX is a Total Bond Market fund tracking the Vanguard Global Aggregate Bond (Hedged) Index Index. VDHG.AX is actively managed, while VBND.AX is passively managed. Over the past 5 years, VDHG.AX returned 8.16%/yr vs -1.47%/yr for VBND.AX. At a 0.12 correlation, their price movements are largely independent.

Performance

VDHG.AX vs. VBND.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Diversified High Growth INDEX ETF (VDHG.AX) and Vanguard Global Aggregate Bond (Hedged) Index ETF (VBND.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VDHG.AX achieves a 3.64% return, which is significantly higher than VBND.AX's -0.33% return.

VDHG.AX

1D
-0.89%
1M
-1.32%
6M
2.17%
YTD
3.64%
1Y
10.09%
3Y*
12.71%
5Y*
8.16%
10Y*
—

VBND.AX

1D
0.18%
1M
-0.39%
6M
0.11%
YTD
-0.33%
1Y
2.17%
3Y*
2.55%
5Y*
-1.47%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

VDHG.AX vs. VBND.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VDHG.AX
Vanguard Diversified High Growth INDEX ETF		3.64%12.88%16.45%14.96%-9.95%16.40%7.66%23.67%-2.77%1.42%
VBND.AX
Vanguard Global Aggregate Bond (Hedged) Index ETF		-0.33%4.32%0.38%4.47%-14.06%-2.20%5.43%7.97%0.27%0.50%

Correlation

The correlation between VDHG.AX and VBND.AX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2017

0.12

Over the past year, VDHG.AX and VBND.AX have become more correlated (0.33) than their long-term average of 0.12, meaning their price movements have been converging.

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Vanguard Diversified High Growth INDEX ETF

Vanguard Global Aggregate Bond (Hedged) Index ETF

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Often compared with VBND.AX:
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Return for Risk

VDHG.AX vs. VBND.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VDHG.AX
VDHG.AX Risk / Return Rank: 3535
Overall Rank
VDHG.AX Sharpe Ratio Rank: 3535
Sharpe Ratio Rank
VDHG.AX Sortino Ratio Rank: 3333
Sortino Ratio Rank
VDHG.AX Omega Ratio Rank: 3434
Omega Ratio Rank
VDHG.AX Calmar Ratio Rank: 3333
Calmar Ratio Rank
VDHG.AX Martin Ratio Rank: 3939
Martin Ratio Rank
VBND.AX
VBND.AX Risk / Return Rank: 1717
Overall Rank
VBND.AX Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
VBND.AX Sortino Ratio Rank: 1616
Sortino Ratio Rank
VBND.AX Omega Ratio Rank: 1919
Omega Ratio Rank
VBND.AX Calmar Ratio Rank: 1818
Calmar Ratio Rank
VBND.AX Martin Ratio Rank: 1818
Martin Ratio Rank
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.

VDHG.AX vs. VBND.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Diversified High Growth INDEX ETF (VDHG.AX) and Vanguard Global Aggregate Bond (Hedged) Index ETF (VBND.AX). 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.

VDHG.AXVBND.AXDifference
Sharpe ratioReturn per unit of total volatility
1.03
0.34

+0.69

Sortino ratioReturn per unit of downside risk
1.47
0.57

+0.90

Omega ratioGain probability vs. loss probability

1.19

1.10

+0.09

Calmar ratioReturn relative to maximum drawdown

1.34

0.53

+0.81

Martin ratioReturn relative to average drawdown

4.84

1.23

+3.61

VDHG.AX vs. VBND.AX - Sharpe Ratio Comparison

The current VDHG.AX Sharpe Ratio is 1.03, which is higher than the VBND.AX Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of VDHG.AX and VBND.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VDHG.AX vs. VBND.AX - Drawdown Comparison

The maximum VDHG.AX drawdown since its inception was -28.34%, which is greater than VBND.AX's maximum drawdown of -18.57%. Use the drawdown chart below to compare losses from any high point for VDHG.AX and VBND.AX.

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Drawdown Indicators

VDHG.AXVBND.AXDifference

Max Drawdown

Largest peak-to-trough decline

-28.34%

-18.57%

-9.77%

Max Drawdown (1Y)

Largest decline over 1 year

-7.32%

-4.02%

-3.30%

Max Drawdown (3Y)

Largest decline over 3 years

-12.49%

-4.51%

-7.98%

Max Drawdown (5Y)

Largest decline over 5 years

-17.16%

-18.17%

+1.01%

Current Drawdown

Current decline from peak

-1.32%

-8.35%

+7.03%

Average Drawdown

Average peak-to-trough decline

-3.66%

-6.75%

+3.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.05%

1.74%

+0.31%

Volatility

VDHG.AX vs. VBND.AX - Volatility Comparison

Vanguard Diversified High Growth INDEX ETF (VDHG.AX) has a higher volatility of 1.93% compared to Vanguard Global Aggregate Bond (Hedged) Index ETF (VBND.AX) at 0.83%. This indicates that VDHG.AX's price experiences larger fluctuations and is considered to be riskier than VBND.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VDHG.AXVBND.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.93%

0.83%

+1.10%

Volatility (6M)

Calculated over the trailing 6-month period

7.90%

5.90%

+2.00%

Volatility (1Y)

Calculated over the trailing 1-year period

9.60%

6.23%

+3.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.76%

5.54%

+5.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.75%

5.04%

+6.71%

Dividends

VDHG.AX vs. VBND.AX - Dividend Comparison

VDHG.AX's dividend yield for the trailing twelve months is around 2.96%, less than VBND.AX's 8.46% yield.

PositionTTM20252024202320222021202020192018
VBND.AX
Vanguard Global Aggregate Bond (Hedged) Index ETF		8.46%2.55%1.00%1.30%1.07%8.61%4.52%2.08%0.90%
VDHG.AX
Vanguard Diversified High Growth INDEX ETF		2.96%3.94%2.07%2.27%4.42%8.02%5.03%3.87%1.88%

Frequently Asked Questions

VDHG.AX and VBND.AX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VDHG.AX is categorized as Large Cap Growth Equities, while VBND.AX is Total Bond Market.

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