VNQI vs. BND
VNQI (Vanguard Global ex-U.S. Real Estate ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, VNQI returned 2.21%/yr vs 1.61%/yr for BND. At a 0.05 correlation, their price movements are largely independent. VNQI charges 0.12%/yr vs 0.03%/yr for BND.
Performance
VNQI vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, VNQI achieves a -2.14% return, which is significantly lower than BND's 0.41% return. Over the past 10 years, VNQI has outperformed BND with an annualized return of 2.21%, while BND has yielded a comparatively lower 1.61% annualized return.
VNQI
- 1D
- 0.45%
- 1M
- -4.57%
- YTD
- -2.14%
- 6M
- -0.84%
- 1Y
- 5.67%
- 3Y*
- 8.33%
- 5Y*
- -1.57%
- 10Y*
- 2.21%
BND
- 1D
- 0.14%
- 1M
- 0.23%
- YTD
- 0.41%
- 6M
- 0.44%
- 1Y
- 4.60%
- 3Y*
- 4.01%
- 5Y*
- 0.11%
- 10Y*
- 1.61%
VNQI vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQI Vanguard Global ex-U.S. Real Estate ETF | -2.14% | 21.38% | -2.22% | 6.99% | -22.94% | 5.93% | -7.22% | 21.59% | -9.44% | 26.91% |
BND Vanguard Total Bond Market ETF | 0.41% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between VNQI and BND is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2010 | 0.05 |
Over the past year, VNQI and BND have become more correlated (0.50) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
VNQI vs. BND — Risk / Return Rank
VNQI
BND
VNQI vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate ETF (VNQI) 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.
| VNQI | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.22 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.73 | -1.34 |
| Martin ratioReturn relative to average drawdown | 1.17 | 5.21 | -4.03 |
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
| VNQI | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 1.24 | -0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.02 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 0.29 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.59 | -0.39 |
Drawdowns
VNQI vs. BND - Drawdown Comparison
The maximum VNQI drawdown since its inception was -38.35%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VNQI and BND.
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Drawdown Indicators
| VNQI | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.35% | -18.58% | -19.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -2.68% | -12.10% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -5.92% | -10.43% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | -17.91% | -17.84% |
Max Drawdown (10Y)Largest decline over 10 years | -38.35% | -18.58% | -19.77% |
Current DrawdownCurrent decline from peak | -11.62% | -2.23% | -9.39% |
Average DrawdownAverage peak-to-trough decline | -10.89% | -3.06% | -7.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 0.89% | +3.95% |
Volatility
VNQI vs. BND - Volatility Comparison
Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a higher volatility of 4.58% compared to Vanguard Total Bond Market ETF (BND) at 1.22%. This indicates that VNQI'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.
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Volatility by Period
| VNQI | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | 1.22% | +3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 2.66% | +8.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.43% | 3.78% | +9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.50% | 6.02% | +9.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 5.53% | +10.53% |
VNQI vs. BND - Expense Ratio Comparison
VNQI has a 0.12% 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
VNQI vs. BND - Dividend Comparison
VNQI's dividend yield for the trailing twelve months is around 4.81%, more 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% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | 4.81% | 4.70% | 5.16% | 3.74% | 0.57% | 6.48% | 0.93% | 7.58% | 4.62% | 3.86% | 5.18% | 2.86% |
Frequently Asked Questions
VNQI and BND have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNQI has higher volatility (4.58%) compared to BND (1.22%). In terms of maximum drawdown, VNQI dropped -38.35% vs BND's -18.58%.
On 10-year performance, VNQI leads with 2.21% vs 1.61% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VNQI has performed better with a 2.21% return vs 1.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.12% for VNQI.
VNQI has the higher dividend yield at 4.81%, compared with 3.96% for BND.
VNQI is categorized as REIT, while BND is Total Bond Market. VNQI tracks S&P Global ex-U.S. Property Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. Their fees differ too: 0.12% for VNQI and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.24 vs 0.42), 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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