VGLT vs. BNDX
VGLT (Vanguard Long-Term Treasury ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, VGLT returned -1.21%/yr vs 1.72%/yr for BNDX. A 0.70 correlation means they provide meaningful diversification when combined. VGLT charges 0.03%/yr vs 0.07%/yr for BNDX.
Performance
VGLT vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, VGLT achieves a 0.03% return, which is significantly lower than BNDX's 1.02% return. Over the past 10 years, VGLT has underperformed BNDX with an annualized return of -1.21%, while BNDX has yielded a comparatively higher 1.72% annualized return.
VGLT
- 1D
- -0.27%
- 1M
- 1.30%
- YTD
- 0.03%
- 6M
- 0.49%
- 1Y
- 3.29%
- 3Y*
- -0.30%
- 5Y*
- -5.52%
- 10Y*
- -1.21%
BNDX
- 1D
- 0.17%
- 1M
- 0.99%
- YTD
- 1.02%
- 6M
- 1.22%
- 1Y
- 1.94%
- 3Y*
- 4.32%
- 5Y*
- 0.32%
- 10Y*
- 1.72%
VGLT vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGLT Vanguard Long-Term Treasury ETF | 0.03% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
BNDX Vanguard Total International Bond ETF | 1.02% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between VGLT and BNDX is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.70 |
The correlation between VGLT and BNDX has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.
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Return for Risk
VGLT vs. BNDX — Risk / Return Rank
VGLT
BNDX
VGLT vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Treasury ETF (VGLT) and Vanguard Total International Bond ETF (BNDX). 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.
| VGLT | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.10 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.66 | -0.19 |
| Martin ratioReturn relative to average drawdown | 1.19 | 1.84 | -0.65 |
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Drawdowns
VGLT vs. BNDX - Drawdown Comparison
The maximum VGLT drawdown since its inception was -46.18%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for VGLT and BNDX.
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Drawdown Indicators
| VGLT | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.18% | -16.23% | -29.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -2.93% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -2.93% | -14.75% |
Max Drawdown (5Y)Largest decline over 5 years | -40.98% | -15.86% | -25.12% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -16.23% | -29.95% |
Current DrawdownCurrent decline from peak | -36.55% | -1.02% | -35.53% |
Average DrawdownAverage peak-to-trough decline | -15.09% | -3.10% | -11.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 1.05% | +1.73% |
Volatility
VGLT vs. BNDX - Volatility Comparison
Vanguard Long-Term Treasury ETF (VGLT) has a higher volatility of 2.69% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that VGLT's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGLT | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 1.49% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 6.09% | 2.96% | +3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.78% | 3.47% | +5.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.57% | 4.89% | +9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.82% | 4.10% | +9.72% |
VGLT vs. BNDX - Expense Ratio Comparison
VGLT has a 0.03% expense ratio, which is lower than BNDX's 0.07% 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%.
Dividends
VGLT vs. BNDX - Dividend Comparison
VGLT's dividend yield for the trailing twelve months is around 4.59%, more than BNDX's 4.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.47% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
VGLT Vanguard Long-Term Treasury ETF | 4.59% | 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 BNDX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VGLT has higher volatility (2.69%) compared to BNDX (1.49%). In terms of maximum drawdown, VGLT dropped -46.18% vs BNDX's -16.23%.
On 10-year performance, BNDX leads with 1.72% vs -1.21% for VGLT. On fees, VGLT is cheaper at 0.03% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BNDX has performed better with a 1.72% return vs -1.21%. 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 0.07% for BNDX.
VGLT has the higher dividend yield at 4.59%, compared with 4.47% for BNDX.
VGLT is categorized as Government Bonds, while BNDX is Global Bonds. VGLT tracks Bloomberg U.S. Long Treasury Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Their fees differ too: 0.03% for VGLT and 0.07% for BNDX.
BNDX currently has the higher Sharpe Ratio (0.56 vs 0.38), 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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