VGLT vs. BNDD
VGLT (Vanguard Long-Term Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. VGLT is passively managed, while BNDD is actively managed. Over the past 3 years, VGLT returned -0.72%/yr vs -3.91%/yr for BNDD. A 0.73 correlation means they provide meaningful diversification when combined. VGLT charges 0.03%/yr vs 1.02%/yr for BNDD.
Performance
VGLT vs. BNDD - Performance Comparison
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Returns By Period
In the year-to-date period, VGLT achieves a -0.41% return, which is significantly lower than BNDD's 4.32% return.
VGLT
- 1D
- -0.40%
- 1M
- 0.71%
- YTD
- -0.41%
- 6M
- -1.68%
- 1Y
- 5.25%
- 3Y*
- -0.72%
- 5Y*
- -5.30%
- 10Y*
- -1.10%
BNDD
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.32%
- 6M
- 2.24%
- 1Y
- 3.39%
- 3Y*
- -3.91%
- 5Y*
- —
- 10Y*
- —
VGLT vs. BNDD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | -0.41% | 5.35% | -6.28% | 3.27% | -29.34% | -1.58% |
BNDD Quadratic Deflation ETF | 4.32% | -8.17% | -6.65% | 4.02% | -17.48% | 5.54% |
Correlation
The correlation between VGLT and BNDD is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021 | 0.73 |
The correlation between VGLT and BNDD shifts across timeframes, from 0.62 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VGLT vs. BNDD — Risk / Return Rank
VGLT
BNDD
VGLT vs. BNDD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and Quadratic Deflation ETF (BNDD). 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.
| VGLT | BNDD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.06 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 0.56 | +0.19 |
| Martin ratioReturn relative to average drawdown | 1.96 | 1.20 | +0.76 |
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
| VGLT | BNDD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 0.32 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | -0.33 | +0.51 |
Drawdowns
VGLT vs. BNDD - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than BNDD's maximum drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for VGLT and BNDD.
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Drawdown Indicators
| VGLT | BNDD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -30.87% | -15.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -6.09% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -20.75% | +3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | — | — |
Current DrawdownCurrent decline from peak | -36.83% | -26.51% | -10.32% |
Average DrawdownAverage peak-to-trough decline | -15.06% | -19.34% | +4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.83% | -0.15% |
Volatility
VGLT vs. BNDD - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) has a higher volatility of 2.59% compared to Quadratic Deflation ETF (BNDD) at 2.21%. This indicates that VGLT's price experiences larger fluctuations and is considered to be riskier than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | BNDD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 2.21% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 5.94% | 8.11% | -2.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.88% | 10.59% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.58% | 13.38% | +1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.81% | 13.38% | +0.43% |
VGLT vs. BNDD - Expense Ratio Comparison
VGLT has a 0.03% expense ratio, which is lower than BNDD's 1.02% expense ratio.
Dividends
VGLT vs. BNDD - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.61%, more than BNDD's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDD Quadratic Deflation ETF | 3.61% | 3.82% | 3.85% | 4.30% | 43.17% | 1.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGLT Vanguard Long-Term Treasury ETF | 4.61% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
VGLT and BNDD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.59%) compared to BNDD (2.21%). In terms of maximum drawdown, VGLT dropped -46.18% vs BNDD's -30.87%.
On 3-year performance, VGLT leads with -0.72% vs -3.91% for BNDD. On fees, VGLT is cheaper at 0.03% per year. On volatility, BNDD has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VGLT has performed better with a -0.72% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGLT is cheaper with a 0.03% expense ratio, compared with 1.02% for BNDD.
VGLT has the higher dividend yield at 4.61%, compared with 3.61% for BNDD.
They also come from different issuers: Vanguard and KraneShares. Their fees differ too: 0.03% for VGLT and 1.02% for BNDD.
VGLT currently has the higher Sharpe Ratio (0.59 vs 0.32), 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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