VHGEX vs. BND

Last updated Jun 9, 2026

VHGEX (Vanguard Global Equity Fund) and BND (Vanguard Total Bond Market ETF) are both funds - VHGEX is a Global Equities fund managed by Vanguard, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VHGEX returned 11.34%/yr vs 1.53%/yr for BND. At a correlation of -0.10, they often move in opposite directions. VHGEX charges 0.45%/yr vs 0.03%/yr for BND.

Performance

VHGEX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Global Equity Fund (VHGEX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VHGEX achieves a 4.05% return, which is significantly higher than BND's -0.07% return. Over the past 10 years, VHGEX has outperformed BND with an annualized return of 11.34%, while BND has yielded a comparatively lower 1.53% annualized return.

VHGEX

• 1D: -3.04%
• 1M: -1.29%
• YTD: 4.05%
• 6M: 4.90%
• 1Y: 17.34%
• 3Y*: 15.84%
• 5Y*: 6.68%
• 10Y*: 11.34%

BND

• 1D: -0.03%
• 1M: -0.67%
• YTD: -0.07%
• 6M: 0.23%
• 1Y: 4.87%
• 3Y*: 3.89%
• 5Y*: -0.05%
• 10Y*: 1.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VHGEX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHGEX Vanguard Global Equity Fund	4.05%	21.22%	13.41%	23.52%	-22.72%	13.06%	22.38%	28.73%	-9.15%	27.80%
BND Vanguard Total Bond Market ETF	-0.07%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between VHGEX and BND is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007	-0.10

The correlation between VHGEX and BND shifts across timeframes, from -0.10 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VHGEX vs. BND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VHGEX

VHGEX Risk / Return Rank: 22
VHGEX Sharpe Ratio Rank: 21
VHGEX Sortino Ratio Rank: 20
VHGEX Omega Ratio Rank: 21
VHGEX Calmar Ratio Rank: 21
VHGEX Martin Ratio Rank: 26

BND

BND Risk / Return Rank: 40
BND Sharpe Ratio Rank: 41
BND Sortino Ratio Rank: 43
BND Omega Ratio Rank: 38
BND Calmar Ratio Rank: 40
BND Martin Ratio Rank: 38

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.

VHGEX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Global Equity Fund (VHGEX) 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.

	VHGEX	BND	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.32	-0.07
Sortino ratio: Return per unit of downside risk	1.76	1.96	-0.20
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.55	1.83	-0.28
Martin ratio: Return relative to average drawdown	5.95	5.43	+0.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VHGEX vs. BND - Sharpe Ratio Comparison

The current VHGEX Sharpe Ratio is 1.24, which is comparable to the BND Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of VHGEX and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VHGEX	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	1.32	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	-0.01	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.28	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.58	-0.06

Drawdowns

VHGEX vs. BND - Drawdown Comparison

The maximum VHGEX drawdown since its inception was -64.81%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VHGEX and BND.

Drawdown Indicators

	VHGEX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-64.81%	-18.58%	-46.23%
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	-2.68%	-9.24%
Max Drawdown (3Y) Largest decline over 3 years	-19.21%	-5.92%	-13.29%
Max Drawdown (5Y) Largest decline over 5 years	-33.02%	-17.91%	-15.11%
Max Drawdown (10Y) Largest decline over 10 years	-33.23%	-18.58%	-14.65%
Current Drawdown Current decline from peak	-3.49%	-2.70%	-0.79%
Average Drawdown Average peak-to-trough decline	-9.95%	-3.06%	-6.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	0.90%	+2.20%

Volatility

VHGEX vs. BND - Volatility Comparison

Vanguard Global Equity Fund (VHGEX) has a higher volatility of 4.56% compared to Vanguard Total Bond Market ETF (BND) at 1.20%. This indicates that VHGEX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHGEX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	1.20%	+3.36%
Volatility (6M) Calculated over the trailing 6-month period	11.61%	2.69%	+8.92%
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	3.72%	+11.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.32%	6.02%	+12.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	5.53%	+12.53%

VHGEX vs. BND - Expense Ratio Comparison

VHGEX has a 0.45% expense ratio, which is higher than BND's 0.03% expense ratio.

Dividends

VHGEX vs. BND - Dividend Comparison

VHGEX's dividend yield for the trailing twelve months is around 11.90%, more than BND's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.98%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
VHGEX Vanguard Global Equity Fund	11.90%	12.38%	4.24%	1.15%	11.32%	10.90%	2.88%	6.20%	8.45%	1.29%	1.51%	1.71%

Frequently Asked Questions

Can I hold both VHGEX and BND in my portfolio?

VHGEX and BND have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VHGEX or BND?

VHGEX has higher volatility (4.56%) compared to BND (1.20%). In terms of maximum drawdown, VHGEX dropped -64.81% vs BND's -18.58%.

Which has better risk-adjusted returns?

BND currently has the higher Sharpe Ratio (1.32 vs 1.24), 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.