VTIBX vs. BNDX
VTIBX (Vanguard Total International Bond Index Fund) and BNDX (Vanguard Total International Bond ETF) are both Global Bonds funds from Vanguard. Over the past 10 years, VTIBX returned 1.71%/yr vs 1.72%/yr for BNDX. Their correlation of 0.82 suggests significant overlap in exposure. VTIBX charges 0.13%/yr vs 0.07%/yr for BNDX.
Performance
VTIBX vs. BNDX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VTIBX having a 1.02% return and BNDX slightly higher at 1.04%. Both investments have delivered pretty close results over the past 10 years, with VTIBX having a 1.71% annualized return and BNDX not far ahead at 1.72%.
VTIBX
- 1D
- 0.00%
- 1M
- 1.07%
- YTD
- 1.02%
- 6M
- 1.44%
- 1Y
- 2.35%
- 3Y*
- 4.37%
- 5Y*
- 0.42%
- 10Y*
- 1.71%
BNDX
- 1D
- -0.17%
- 1M
- 0.67%
- YTD
- 1.04%
- 6M
- 1.23%
- 1Y
- 2.08%
- 3Y*
- 4.14%
- 5Y*
- 0.42%
- 10Y*
- 1.72%
VTIBX vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTIBX Vanguard Total International Bond Index Fund | 1.02% | 2.98% | 3.84% | 8.86% | -12.97% | -2.27% | 4.56% | 7.76% | 3.00% | 2.31% |
BNDX Vanguard Total International Bond ETF | 1.04% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between VTIBX and BNDX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.82 |
The correlation between VTIBX and BNDX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.
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Return for Risk
VTIBX vs. BNDX — Risk / Return Rank
VTIBX
BNDX
VTIBX vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total International Bond Index Fund (VTIBX) 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.
| VTIBX | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.11 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.71 | +0.05 |
| Martin ratioReturn relative to average drawdown | 2.06 | 1.97 | +0.09 |
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Drawdowns
VTIBX vs. BNDX - Drawdown Comparison
The maximum VTIBX drawdown since its inception was -16.15%, roughly equal to the maximum BNDX drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for VTIBX and BNDX.
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Drawdown Indicators
| VTIBX | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.15% | -16.23% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -2.93% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -2.95% | -2.93% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.81% | -15.86% | +0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -16.15% | -16.23% | +0.08% |
Current DrawdownCurrent decline from peak | -0.85% | -1.00% | +0.15% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -3.10% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.06% | +0.03% |
Volatility
VTIBX vs. BNDX - Volatility Comparison
Vanguard Total International Bond Index Fund (VTIBX) has a higher volatility of 1.10% compared to Vanguard Total International Bond ETF (BNDX) at 0.96%. This indicates that VTIBX'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
| VTIBX | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.96% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.97% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 3.46% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.50% | 4.89% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.66% | 4.10% | -0.44% |
VTIBX vs. BNDX - Expense Ratio Comparison
VTIBX has a 0.13% expense ratio, which is higher than BNDX's 0.07% 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
VTIBX vs. BNDX - Dividend Comparison
VTIBX's dividend yield for the trailing twelve months is around 4.41%, less 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% |
VTIBX Vanguard Total International Bond Index Fund | 4.41% | 4.33% | 4.31% | 4.37% | 1.41% | 3.68% | 1.06% | 3.36% | 2.98% | 2.21% | 1.76% | 1.61% |
Frequently Asked Questions
VTIBX and BNDX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTIBX has higher volatility (1.10%) compared to BNDX (0.96%). In terms of maximum drawdown, VTIBX dropped -16.15% vs BNDX's -16.23%.
VTIBX currently has the higher Sharpe Ratio (0.71 vs 0.61), 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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