VGHY vs. BND
VGHY (Vanguard High-Yield Active ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - VGHY is a High Yield Bonds fund actively managed by Vanguard, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. VGHY is actively managed, while BND is passively managed. Their 0.55 correlation means they have sometimes moved together and sometimes differently. VGHY charges 0.22%/yr vs 0.03%/yr for BND.
Performance
VGHY vs. BND - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VGHY achieves a 1.63% return, which is significantly higher than BND's -0.54% return.
VGHY
- 1D
- 0.07%
- 1M
- -0.34%
- 6M
- 1.25%
- YTD
- 1.63%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
BND
- 1D
- -0.26%
- 1M
- -1.20%
- 6M
- -0.75%
- YTD
- -0.54%
- 1Y
- 1.75%
- 3Y*
- 3.92%
- 5Y*
- -0.42%
- 10Y*
- 1.36%
- ALL TIME*
- 2.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $451.00M | $507.49M | $592.68M | |
| $2.96M | $3.03M | $3.77M |
VGHY vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VGHY Vanguard High-Yield Active ETF | 1.63% | 1.77% |
BND Vanguard Total Bond Market ETF | -0.54% | 0.43% |
Correlation
The correlation between VGHY and BND is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025 | 0.55 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VGHY vs. BND — Risk / Return Rank
VGHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
BND
VGHY vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Active ETF (VGHY) and Vanguard Total Bond Market ETF (BND). 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.
| VGHY | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.12 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.99 | — |
| Martin ratioReturn relative to average drawdown | — | 2.48 | — |
Loading charts...
Drawdowns
VGHY vs. BND - Drawdown Comparison
The maximum VGHY drawdown since its inception was -2.66%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VGHY and BND.
Loading charts...
Drawdown Indicators
| VGHY | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.66% | -18.58% | +15.92% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.68% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.81% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -0.47% | -3.15% | +2.68% |
Average DrawdownAverage peak-to-trough decline | -0.42% | -3.06% | +2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.07% | — |
Volatility
VGHY vs. BND - Volatility Comparison
Loading charts...
Volatility by Period
| VGHY | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.98% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.90% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 3.70% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.05% | 6.03% | -1.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 5.53% | -1.48% |
VGHY vs. BND - Expense Ratio Comparison
VGHY has a 0.22% expense ratio, which is higher than BND's 0.03% 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
VGHY vs. BND - Dividend Comparison
VGHY's dividend yield for the trailing twelve months is around 4.50%, more than BND's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.69% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
VGHY Vanguard High-Yield Active ETF | 4.50% | 1.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VGHY and BND have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BND is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BND is cheaper with a 0.03% expense ratio, compared with 0.22% for VGHY.
VGHY has the higher dividend yield at 4.50%, compared with 3.69% for BND.
VGHY is categorized as High Yield Bonds, while BND is Total Bond Market. Their fees differ too: 0.22% for VGHY and 0.03% for BND.
Find the right allocation for VGHY and BND
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer