XTEN vs. BNDD

Last updated Jun 4, 2026

XTEN (BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. XTEN is passively managed, while BNDD is actively managed. Over the past 3 years, XTEN returned 1.73%/yr vs -3.91%/yr for BNDD. A 0.58 correlation means they provide meaningful diversification when combined. XTEN charges 0.07%/yr vs 1.02%/yr for BNDD.

Performance

XTEN vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) 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, XTEN achieves a -0.54% return, which is significantly lower than BNDD's 4.32% return.

XTEN

• 1D: -0.35%
• 1M: 0.25%
• YTD: -0.54%
• 6M: -1.22%
• 1Y: 4.81%
• 3Y*: 1.73%
• 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)

XTEN vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	-0.54%	7.37%	-2.15%	4.00%	-2.94%
BNDD Quadratic Deflation ETF	4.32%	-8.17%	-6.65%	4.02%	-4.60%

Correlation

The correlation between XTEN and BNDD is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022	0.58

The correlation between XTEN and BNDD has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.

Return for Risk

XTEN vs. BNDD — Risk / Return Rank

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

XTEN

XTEN Risk / Return Rank: 21
XTEN Sharpe Ratio Rank: 22
XTEN Sortino Ratio Rank: 21
XTEN Omega Ratio Rank: 20
XTEN Calmar Ratio Rank: 21
XTEN Martin Ratio Rank: 21

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.

XTEN vs. BNDD - Risk-Adjusted Trends Comparison

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

	XTEN	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.32	+0.43
Sortino ratio: Return per unit of downside risk	1.13	0.52	+0.61
Omega ratio: Gain probability vs. loss probability	1.13	1.06	+0.07
Calmar ratio: Return relative to maximum drawdown	0.89	0.56	+0.33
Martin ratio: Return relative to average drawdown	2.59	1.20	+1.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTEN vs. BNDD - Sharpe Ratio Comparison

The current XTEN Sharpe Ratio is 0.75, which is higher than the BNDD Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of XTEN 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

	XTEN	BNDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	0.32	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	-0.33	+0.48

Drawdowns

XTEN vs. BNDD - Drawdown Comparison

The maximum XTEN drawdown since its inception was -13.86%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for XTEN and BNDD.

Drawdown Indicators

	XTEN	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-13.86%	-30.87%	+17.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-6.09%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-20.75%	+9.60%
Current Drawdown Current decline from peak	-3.51%	-26.51%	+23.00%
Average Drawdown Average peak-to-trough decline	-4.03%	-19.34%	+15.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.83%	-0.97%

Volatility

XTEN vs. BNDD - Volatility Comparison

The current volatility for BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) is 2.05%, while Quadratic Deflation ETF (BNDD) has a volatility of 2.21%. This indicates that XTEN 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

	XTEN	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	2.21%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	4.41%	8.11%	-3.70%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	10.59%	-4.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	13.38%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.56%	13.38%	-3.82%

XTEN vs. BNDD - Expense Ratio Comparison

XTEN has a 0.08% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

XTEN vs. BNDD - Dividend Comparison

XTEN's dividend yield for the trailing twelve months is around 4.40%, 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%
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	4.40%	4.05%	4.21%	3.71%	1.04%	0.00%

Frequently Asked Questions

Can I hold both XTEN and BNDD in my portfolio?

XTEN and BNDD have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTEN or BNDD?

BNDD has higher volatility (2.21%) compared to XTEN (2.05%). In terms of maximum drawdown, XTEN dropped -13.86% vs BNDD's -30.87%.

Which ETF is better, XTEN or BNDD?

On 3-year performance, XTEN leads with 1.73% vs -3.91% for BNDD. On fees, XTEN is cheaper at 0.07% per year. On volatility, XTEN has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTEN or BNDD?

Over the 3-year period, XTEN has performed better with a 1.73% return vs -3.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTEN or BNDD?

XTEN is cheaper with a 0.07% expense ratio, compared with 1.02% for BNDD.

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

XTEN has the higher dividend yield at 4.40%, compared with 3.61% for BNDD.

What is the main difference between XTEN and BNDD?

They also come from different issuers: BondBloxx and KraneShares. Their fees differ too: 0.07% for XTEN and 1.02% for BNDD.

Which has better risk-adjusted returns?

XTEN currently has the higher Sharpe Ratio (0.75 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.