VNO vs. BND

Last updated Jun 13, 2026

VNO (Vornado Realty Trust) is a stock, while BND (Vanguard Total Bond Market ETF) is Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, VNO returned -3.07%/yr vs 1.58%/yr for BND. At a correlation of -0.03, they often move in opposite directions.

Performance

VNO vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vornado Realty Trust (VNO) 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, VNO achieves a 14.99% return, which is significantly higher than BND's 0.52% return. Over the past 10 years, VNO has underperformed BND with an annualized return of -3.07%, while BND has yielded a comparatively higher 1.58% annualized return.

VNO

• 1D: -1.80%
• 1M: 24.70%
• YTD: 14.99%
• 6M: 10.65%
• 1Y: -4.80%
• 3Y*: 37.06%
• 5Y*: -2.11%
• 10Y*: -3.07%

BND

• 1D: -0.12%
• 1M: 0.42%
• YTD: 0.52%
• 6M: 0.91%
• 1Y: 4.40%
• 3Y*: 4.17%
• 5Y*: 0.03%
• 10Y*: 1.58%

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

VNO vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VNO Vornado Realty Trust	14.99%	-19.09%	51.32%	39.50%	-46.66%	17.78%	-40.43%	14.93%	-17.75%	-4.53%
BND Vanguard Total Bond Market ETF	0.52%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between VNO and BND is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007	-0.03

The correlation between VNO and BND shifts across timeframes, from -0.03 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VNO vs. BND — Risk / Return Rank

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

VNO

VNO Risk / Return Rank: 36
VNO Sharpe Ratio Rank: 37
VNO Sortino Ratio Rank: 32
VNO Omega Ratio Rank: 32
VNO Calmar Ratio Rank: 39
VNO Martin Ratio Rank: 38

BND

BND Risk / Return Rank: 37
BND Sharpe Ratio Rank: 38
BND Sortino Ratio Rank: 38
BND Omega Ratio Rank: 35
BND Calmar Ratio Rank: 37
BND Martin Ratio Rank: 35

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.

VNO vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vornado Realty Trust (VNO) 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.

	VNO	BND	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	1.18	-1.33
Sortino ratio: Return per unit of downside risk	0.03	1.77	-1.75
Omega ratio: Gain probability vs. loss probability	1.00	1.21	-0.20
Calmar ratio: Return relative to maximum drawdown	-0.12	1.65	-1.77
Martin ratio: Return relative to average drawdown	-0.23	4.81	-5.03

VNO vs. BND - Sharpe Ratio Comparison

The current VNO Sharpe Ratio is -0.14, which is lower than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of VNO 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.

Drawdowns

VNO vs. BND - Drawdown Comparison

The maximum VNO drawdown since its inception was -80.89%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VNO and BND.

Drawdown Indicators

	VNO	BND	Difference
Max Drawdown Largest peak-to-trough decline	-80.89%	-18.58%	-62.31%
Max Drawdown (1Y) Largest decline over 1 year	-41.22%	-2.68%	-38.54%
Max Drawdown (3Y) Largest decline over 3 years	-43.88%	-5.92%	-37.96%
Max Drawdown (5Y) Largest decline over 5 years	-72.34%	-17.91%	-54.43%
Max Drawdown (10Y) Largest decline over 10 years	-80.89%	-18.58%	-62.31%
Current Drawdown Current decline from peak	-37.96%	-2.12%	-35.84%
Average Drawdown Average peak-to-trough decline	-20.60%	-3.06%	-17.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.24%	0.92%	+20.32%

Volatility

VNO vs. BND - Volatility Comparison

Vornado Realty Trust (VNO) has a higher volatility of 10.59% compared to Vanguard Total Bond Market ETF (BND) at 1.28%. This indicates that VNO'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

	VNO	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.59%	1.28%	+9.31%
Volatility (6M) Calculated over the trailing 6-month period	23.66%	2.74%	+20.92%
Volatility (1Y) Calculated over the trailing 1-year period	33.35%	3.75%	+29.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.70%	6.03%	+35.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.15%	5.53%	+33.62%

Dividends

VNO vs. BND - Dividend Comparison

VNO's dividend yield for the trailing twelve months is around 1.93%, less than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
VNO Vornado Realty Trust	1.93%	2.22%	1.76%	2.39%	10.19%	5.06%	6.37%	6.90%	4.06%	3.00%	2.41%	14.41%

Frequently Asked Questions

Can I hold both VNO and BND in my portfolio?

VNO and BND have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VNO or BND?

VNO has higher volatility (10.59%) compared to BND (1.28%). In terms of maximum drawdown, VNO dropped -80.89% vs BND's -18.58%.

Which has better risk-adjusted returns?

BND currently has the higher Sharpe Ratio (1.18 vs -0.14), 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.