XHLF vs. BNDD

Last updated Jun 4, 2026

XHLF (BondBloxx Bloomberg Six Month Target Duration US Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. XHLF is passively managed, while BNDD is actively managed. Over the past 3 years, XHLF returned 4.62%/yr vs -3.91%/yr for BNDD. At a correlation of -0.03, they often move in opposite directions. XHLF charges 0.03%/yr vs 1.02%/yr for BNDD.

Performance

XHLF vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) and Quadratic Deflation ETF (BNDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHLF achieves a 1.39% return, which is significantly lower than BNDD's 4.32% return.

XHLF

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.39%
• 6M: 1.71%
• 1Y: 3.92%
• 3Y*: 4.62%
• 5Y*: —
• 10Y*: —

BNDD

• 1D: -0.08%
• 1M: 1.37%
• YTD: 4.32%
• 6M: 2.24%
• 1Y: 3.39%
• 3Y*: -3.91%
• 5Y*: —
• 10Y*: —

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

XHLF vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	1.39%	4.21%	5.04%	4.90%	0.96%
BNDD Quadratic Deflation ETF	4.32%	-8.17%	-6.65%	4.02%	-4.60%

Correlation

The correlation between XHLF and BNDD is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022	-0.03

The correlation between XHLF and BNDD shifts across timeframes, from -0.19 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XHLF vs. BNDD — Risk / Return Rank

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

XHLF

XHLF Risk / Return Rank: 100
XHLF Sharpe Ratio Rank: 100
XHLF Sortino Ratio Rank: 100
XHLF Omega Ratio Rank: 100
XHLF Calmar Ratio Rank: 100
XHLF Martin Ratio Rank: 100

BNDD

BNDD Risk / Return Rank: 14
BNDD Sharpe Ratio Rank: 13
BNDD Sortino Ratio Rank: 12
BNDD Omega Ratio Rank: 12
BNDD Calmar Ratio Rank: 16
BNDD Martin Ratio Rank: 15

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.

XHLF vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) and Quadratic Deflation ETF (BNDD). 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.

	XHLF	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	12.43	0.32	+12.11
Sortino ratio: Return per unit of downside risk	45.85	0.52	+45.32
Omega ratio: Gain probability vs. loss probability	11.75	1.06	+10.68
Calmar ratio: Return relative to maximum drawdown	98.81	0.56	+98.25
Martin ratio: Return relative to average drawdown	670.31	1.20	+669.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHLF vs. BNDD - Sharpe Ratio Comparison

The current XHLF Sharpe Ratio is 12.43, which is higher than the BNDD Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of XHLF and BNDD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XHLF	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	12.43	0.32	+12.11
Sharpe Ratio (All Time) Calculated using the full available price history	10.75	-0.33	+11.08

Drawdowns

XHLF vs. BNDD - Drawdown Comparison

The maximum XHLF drawdown since its inception was -0.11%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for XHLF and BNDD.

Drawdown Indicators

	XHLF	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-0.11%	-30.87%	+30.76%
Max Drawdown (1Y) Largest decline over 1 year	-0.04%	-6.09%	+6.05%
Max Drawdown (3Y) Largest decline over 3 years	-0.06%	-20.75%	+20.69%
Current Drawdown Current decline from peak	0.00%	-26.51%	+26.51%
Average Drawdown Average peak-to-trough decline	-0.00%	-19.34%	+19.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	2.83%	-2.82%

Volatility

XHLF vs. BNDD - Volatility Comparison

The current volatility for BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) is 0.08%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.21%. This indicates that XHLF experiences smaller price fluctuations and is considered to be less risky than BNDD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHLF	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.08%	2.21%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	0.22%	8.11%	-7.89%
Volatility (1Y) Calculated over the trailing 1-year period	0.32%	10.59%	-10.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.42%	13.38%	-12.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.42%	13.38%	-12.96%

XHLF vs. BNDD - Expense Ratio Comparison

XHLF has a 0.03% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

XHLF vs. BNDD - Dividend Comparison

XHLF's dividend yield for the trailing twelve months is around 3.85%, more than BNDD's 3.61% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.61%	3.82%	3.85%	4.30%	43.17%	1.04%
XHLF BondBloxx Bloomberg Six Month Target Duration US Treasury ETF	3.85%	3.98%	4.96%	4.50%	0.86%	0.00%

Frequently Asked Questions

Can I hold both XHLF and BNDD in my portfolio?

XHLF and BNDD have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XHLF or BNDD?

BNDD has higher volatility (2.21%) compared to XHLF (0.08%). In terms of maximum drawdown, XHLF dropped -0.11% vs BNDD's -30.87%.

Which ETF is better, XHLF or BNDD?

On 3-year performance, XHLF leads with 4.62% vs -3.91% for BNDD. On fees, XHLF is cheaper at 0.03% per year. On volatility, XHLF has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHLF or BNDD?

Over the 3-year period, XHLF has performed better with a 4.62% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHLF or BNDD?

XHLF is cheaper with a 0.03% expense ratio, compared with 1.02% for BNDD.

Which ETF pays a higher dividend yield, XHLF or BNDD?

XHLF has the higher dividend yield at 3.85%, compared with 3.61% for BNDD.

What is the main difference between XHLF and BNDD?

They also come from different issuers: BondBloxx and KraneShares. Their fees differ too: 0.03% for XHLF and 1.02% for BNDD.

Which has better risk-adjusted returns?

XHLF currently has the higher Sharpe Ratio (12.43 vs 0.32), 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.