VPLS vs. BNDP
VPLS (Vanguard Core-Plus Bond ETF) and BNDP (Vanguard Core-Plus Bond Index ETF) are both Intermediate Core-Plus Bond funds from Vanguard. VPLS is actively managed, while BNDP is passively managed. With a 0.98 correlation, they move nearly in lockstep. VPLS charges 0.20%/yr vs 0.05%/yr for BNDP.
Performance
VPLS vs. BNDP - Performance Comparison
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Returns By Period
In the year-to-date period, VPLS achieves a 0.64% return, which is significantly higher than BNDP's 0.34% return.
VPLS
- 1D
- -0.21%
- 1M
- 0.35%
- YTD
- 0.64%
- 6M
- 0.57%
- 1Y
- 5.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNDP
- 1D
- -0.08%
- 1M
- 0.41%
- YTD
- 0.34%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VPLS vs. BNDP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VPLS Vanguard Core-Plus Bond ETF | 0.64% | 0.08% |
BNDP Vanguard Core-Plus Bond Index ETF | 0.34% | 0.10% |
Correlation
The correlation between VPLS and BNDP is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025 | 0.98 |
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Return for Risk
VPLS vs. BNDP — Risk / Return Rank
VPLS
BNDP
VPLS vs. BNDP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond ETF (VPLS) and Vanguard Core-Plus Bond Index ETF (BNDP). 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.
| VPLS | BNDP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | — | — |
| Martin ratioReturn relative to average drawdown | 7.10 | — | — |
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
| VPLS | BNDP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | 0.25 | +0.99 |
Drawdowns
VPLS vs. BNDP - Drawdown Comparison
The maximum VPLS drawdown since its inception was -4.17%, which is greater than BNDP's maximum drawdown of -2.60%. Use the drawdown chart below to compare losses from any high point for VPLS and BNDP.
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Drawdown Indicators
| VPLS | BNDP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.17% | -2.60% | -1.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | — | — |
Current DrawdownCurrent decline from peak | -1.21% | -1.31% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -1.01% | -0.86% | -0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | — | — |
Volatility
VPLS vs. BNDP - Volatility Comparison
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Volatility by Period
| VPLS | BNDP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 3.63% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.61% | 3.63% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.61% | 3.63% | +0.98% |
VPLS vs. BNDP - Expense Ratio Comparison
VPLS has a 0.20% expense ratio, which is higher than BNDP's 0.05% 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
VPLS vs. BNDP - Dividend Comparison
VPLS's dividend yield for the trailing twelve months is around 4.76%, more than BNDP's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNDP Vanguard Core-Plus Bond Index ETF | 2.08% | 0.24% | 0.00% | 0.00% |
VPLS Vanguard Core-Plus Bond ETF | 4.76% | 4.78% | 4.52% | 0.18% |
Frequently Asked Questions
With a correlation of 0.98, VPLS and BNDP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BNDP is cheaper with a 0.05% expense ratio, compared with 0.20% for VPLS.
VPLS has the higher dividend yield at 4.76%, compared with 2.08% for BNDP.
Their fees differ too: 0.20% for VPLS and 0.05% for BNDP.
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