VWOB vs. BNDX
VWOB (Vanguard Emerging Markets Government Bond ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - VWOB is a Emerging Markets Bonds fund tracking the Bloomberg USD Emerging Markets Government RIC Capped Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (Hedged). Both are passively managed. Over the past 10 years, VWOB returned 3.04%/yr vs 1.51%/yr for BNDX. Their 0.45 correlation means their historical movements had little consistent relationship. VWOB charges 0.15%/yr vs 0.07%/yr for BNDX.
Performance
VWOB vs. BNDX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VWOB achieves a 0.51% return, which is significantly higher than BNDX's 0.22% return. Over the past 10 years, VWOB has outperformed BNDX with an annualized return of 3.04%, while BNDX has yielded a comparatively lower 1.51% annualized return.
VWOB
- 1D
- -0.05%
- 1M
- -1.73%
- 6M
- 0.17%
- YTD
- 0.51%
- 1Y
- 6.22%
- 3Y*
- 8.10%
- 5Y*
- 1.67%
- 10Y*
- 3.04%
- ALL TIME*
- 3.44%
BNDX
- 1D
- -0.23%
- 1M
- -0.97%
- 6M
- -0.29%
- YTD
- 0.22%
- 1Y
- 0.83%
- 3Y*
- 4.00%
- 5Y*
- -0.07%
- 10Y*
- 1.51%
- ALL TIME*
- 2.25%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $159.93M | $187.29M | $236.21M | |
| $31.27M | $31.92M | $36.19M |
VWOB vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWOB Vanguard Emerging Markets Government Bond ETF | 0.51% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 8.41% |
BNDX Vanguard Total International Bond ETF | 0.22% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between VWOB and BNDX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.69 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.45 |
Over the past year, VWOB and BNDX have become more correlated (0.69) than their long-term average of 0.45, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VWOB vs. BNDX — Risk / Return Rank
VWOB
BNDX
VWOB vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) 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.
| VWOB | BNDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.06 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 0.41 | +1.06 |
| Martin ratioReturn relative to average drawdown | 5.83 | 1.04 | +4.79 |
Loading charts...
Drawdowns
VWOB vs. BNDX - Drawdown Comparison
The maximum VWOB drawdown since its inception was -26.98%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for VWOB and BNDX.
Loading charts...
Drawdown Indicators
| VWOB | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.98% | -16.23% | -10.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -2.93% | -1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -6.65% | -2.93% | -3.72% |
Max Drawdown (5Y)Largest decline over 5 years | -26.98% | -15.86% | -11.12% |
Max Drawdown (10Y)Largest decline over 10 years | -26.98% | -16.23% | -10.75% |
Current DrawdownCurrent decline from peak | -1.97% | -1.80% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -3.08% | -1.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 1.14% | -0.02% |
Volatility
VWOB vs. BNDX - Volatility Comparison
Vanguard Emerging Markets Government Bond ETF (VWOB) has a higher volatility of 1.35% compared to Vanguard Total International Bond ETF (BNDX) at 1.08%. This indicates that VWOB'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.
Loading charts...
Volatility by Period
| VWOB | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.08% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.48% | 3.10% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 3.53% | +1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.20% | 4.90% | +4.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.34% | 4.09% | +5.25% |
VWOB vs. BNDX - Expense Ratio Comparison
VWOB has a 0.15% 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
VWOB vs. BNDX - Dividend Comparison
VWOB's dividend yield for the trailing twelve months is around 5.93%, more than BNDX's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BNDX Vanguard Total International Bond ETF | 4.31% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.34% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
VWOB and BNDX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VWOB has higher volatility (1.35%) compared to BNDX (1.08%). In terms of maximum drawdown, VWOB dropped -26.98% vs BNDX's -16.23%.
On 10-year performance, VWOB leads with 3.04% vs 1.51% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VWOB has performed better with a 3.04% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BNDX is cheaper with a 0.07% expense ratio, compared with 0.15% for VWOB.
VWOB has the higher dividend yield at 5.34%, compared with 4.31% for BNDX.
VWOB is categorized as Emerging Markets Bonds, while BNDX is Global Bonds. VWOB tracks Bloomberg USD Emerging Markets Government RIC Capped Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (Hedged). Their fees differ too: 0.15% for VWOB and 0.07% for BNDX.
VWOB currently has the higher Sharpe Ratio (1.24 vs 0.34), 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.
Find the right allocation for VWOB and BNDX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer