XONE vs. BNDD

Last updated Jun 23, 2026

XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. XONE is passively managed, while BNDD is actively managed. Over the past 3 years, XONE returned 4.51%/yr vs -4.16%/yr for BNDD. At a 0.04 correlation, their price movements are largely independent. XONE charges 0.03%/yr vs 1.02%/yr for BNDD.

Performance

XONE vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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, XONE achieves a 1.16% return, which is significantly lower than BNDD's 6.70% return.

XONE

• 1D: -0.03%
• 1M: 0.13%
• YTD: 1.16%
• 6M: 1.27%
• 1Y: 3.62%
• 3Y*: 4.51%
• 5Y*: —
• 10Y*: —

BNDD

• 1D: -0.56%
• 1M: 3.22%
• YTD: 6.70%
• 6M: 6.28%
• 1Y: 4.44%
• 3Y*: -4.16%
• 5Y*: —
• 10Y*: —

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

XONE vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	1.16%	4.41%	4.83%	4.74%	0.57%
BNDD Quadratic Deflation ETF	6.70%	-8.17%	-6.65%	4.02%	-3.94%

Correlation

The correlation between XONE and BNDD is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022	0.04

Return for Risk

XONE vs. BNDD — Risk / Return Rank

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

XONE

XONE Risk / Return Rank: 99
XONE Sharpe Ratio Rank: 99
XONE Sortino Ratio Rank: 99
XONE Omega Ratio Rank: 99
XONE Calmar Ratio Rank: 99
XONE Martin Ratio Rank: 99

BNDD

BNDD Risk / Return Rank: 15
BNDD Sharpe Ratio Rank: 15
BNDD Sortino Ratio Rank: 13
BNDD Omega Ratio Rank: 13
BNDD Calmar Ratio Rank: 17
BNDD Martin Ratio Rank: 16

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.

XONE vs. BNDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.

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.

	XONE	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	6.52	0.42	+6.09
Sortino ratio: Return per unit of downside risk	13.86	0.67	+13.19
Omega ratio: Gain probability vs. loss probability	3.21	1.08	+2.13
Calmar ratio: Return relative to maximum drawdown	22.71	0.73	+21.98
Martin ratio: Return relative to average drawdown	121.24	1.58	+119.67

XONE vs. BNDD - Sharpe Ratio Comparison

The current XONE Sharpe Ratio is 6.52, which is higher than the BNDD Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of XONE 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.

Drawdowns

XONE vs. BNDD - Drawdown Comparison

The maximum XONE drawdown since its inception was -0.40%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for XONE and BNDD.

Drawdown Indicators

	XONE	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-30.87%	+30.47%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-6.09%	+5.93%
Max Drawdown (3Y) Largest decline over 3 years	-0.28%	-20.75%	+20.47%
Current Drawdown Current decline from peak	-0.10%	-24.83%	+24.73%
Average Drawdown Average peak-to-trough decline	-0.05%	-19.38%	+19.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	2.82%	-2.79%

Volatility

XONE vs. BNDD - Volatility Comparison

The current volatility for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) is 0.18%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.65%. This indicates that XONE 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

	XONE	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.18%	2.65%	-2.47%
Volatility (6M) Calculated over the trailing 6-month period	0.37%	8.27%	-7.90%
Volatility (1Y) Calculated over the trailing 1-year period	0.56%	10.51%	-9.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.86%	13.35%	-12.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	13.35%	-12.49%

XONE vs. BNDD - Expense Ratio Comparison

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

Dividends

XONE vs. BNDD - Dividend Comparison

XONE's dividend yield for the trailing twelve months is around 4.06%, more than BNDD's 3.53% yield.

Position	TTM	2025	2024	2023	2022	2021
BNDD Quadratic Deflation ETF	3.53%	3.82%	3.85%	4.30%	43.17%	1.04%
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	4.06%	4.33%	5.21%	4.46%	1.17%	0.00%

Frequently Asked Questions

Can I hold both XONE and BNDD in my portfolio?

XONE and BNDD have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XONE or BNDD?

BNDD has higher volatility (2.65%) compared to XONE (0.18%). In terms of maximum drawdown, XONE dropped -0.40% vs BNDD's -30.87%.

Which ETF is better, XONE or BNDD?

On 3-year performance, XONE leads with 4.51% vs -4.16% for BNDD. On fees, XONE is cheaper at 0.03% per year. On volatility, XONE has been the lower-risk option at 0.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XONE or BNDD?

Over the 3-year period, XONE has performed better with a 4.51% return vs -4.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XONE or BNDD?

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

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

XONE has the higher dividend yield at 4.06%, compared with 3.53% for BNDD.

What is the main difference between XONE and BNDD?

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

Which has better risk-adjusted returns?

XONE currently has the higher Sharpe Ratio (6.52 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.