XTWY vs. BNDD

Last updated Jun 24, 2026

XTWY (BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF) and BNDD (Quadratic Deflation ETF) are both Government Bonds funds. XTWY is passively managed, while BNDD is actively managed. Over the past 3 years, XTWY returned -3.26%/yr vs -4.21%/yr for BNDD. A 0.72 correlation means they provide meaningful diversification when combined. XTWY charges 0.12%/yr vs 1.02%/yr for BNDD.

Performance

XTWY vs. BNDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) 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, XTWY achieves a 0.98% return, which is significantly lower than BNDD's 6.53% return.

XTWY

• 1D: 0.11%
• 1M: 2.79%
• YTD: 0.98%
• 6M: 0.48%
• 1Y: 3.85%
• 3Y*: -3.26%
• 5Y*: —
• 10Y*: —

BNDD

• 1D: -0.16%
• 1M: 3.05%
• YTD: 6.53%
• 6M: 5.33%
• 1Y: 4.37%
• 3Y*: -4.21%
• 5Y*: —
• 10Y*: —

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

XTWY vs. BNDD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF	0.98%	2.52%	-10.25%	2.73%	-7.81%
BNDD Quadratic Deflation ETF	6.53%	-8.17%	-6.65%	4.02%	-3.94%

Correlation

The correlation between XTWY and BNDD is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022	0.72

The correlation between XTWY and BNDD has been stable across timeframes, ranging from 0.64 to 0.72 - a consistent structural relationship.

Return for Risk

XTWY vs. BNDD — Risk / Return Rank

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

XTWY

XTWY Risk / Return Rank: 13
XTWY Sharpe Ratio Rank: 14
XTWY Sortino Ratio Rank: 13
XTWY Omega Ratio Rank: 12
XTWY Calmar Ratio Rank: 13
XTWY Martin Ratio Rank: 13

BNDD

BNDD Risk / Return Rank: 15
BNDD Sharpe Ratio Rank: 15
BNDD Sortino Ratio Rank: 14
BNDD Omega Ratio Rank: 14
BNDD Calmar Ratio Rank: 18
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.

XTWY vs. BNDD - Risk-Adjusted Trends Comparison

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

	XTWY	BNDD	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.42	-0.08
Sortino ratio: Return per unit of downside risk	0.57	0.66	-0.09
Omega ratio: Gain probability vs. loss probability	1.06	1.08	-0.02
Calmar ratio: Return relative to maximum drawdown	0.41	0.72	-0.31
Martin ratio: Return relative to average drawdown	0.94	1.55	-0.61

XTWY vs. BNDD - Sharpe Ratio Comparison

The current XTWY Sharpe Ratio is 0.34, which is comparable to the BNDD Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of XTWY 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

XTWY vs. BNDD - Drawdown Comparison

The maximum XTWY drawdown since its inception was -25.92%, smaller than the maximum BNDD drawdown of -30.87%. Use the drawdown chart below to compare losses from any high point for XTWY and BNDD.

Drawdown Indicators

	XTWY	BNDD	Difference
Max Drawdown Largest peak-to-trough decline	-25.92%	-30.87%	+4.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.48%	-6.09%	-3.39%
Max Drawdown (3Y) Largest decline over 3 years	-22.16%	-20.75%	-1.41%
Current Drawdown Current decline from peak	-14.11%	-24.94%	+10.83%
Average Drawdown Average peak-to-trough decline	-12.25%	-19.39%	+7.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.09%	2.82%	+1.27%

Volatility

XTWY vs. BNDD - Volatility Comparison

BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) and Quadratic Deflation ETF (BNDD) have volatilities of 2.69% and 2.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTWY	BNDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	2.66%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	8.27%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	10.49%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.54%	13.35%	+4.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	13.35%	+4.19%

XTWY vs. BNDD - Expense Ratio Comparison

XTWY has a 0.13% expense ratio, which is lower than BNDD's 1.02% expense ratio.

Dividends

XTWY vs. BNDD - Dividend Comparison

XTWY's dividend yield for the trailing twelve months is around 4.63%, 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%
XTWY BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF	4.63%	4.56%	4.65%	3.86%	1.08%	0.00%

Frequently Asked Questions

Can I hold both XTWY and BNDD in my portfolio?

XTWY and BNDD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTWY or BNDD?

XTWY has higher volatility (2.69%) compared to BNDD (2.66%). In terms of maximum drawdown, XTWY dropped -25.92% vs BNDD's -30.87%.

Which ETF is better, XTWY or BNDD?

On 3-year performance, XTWY leads with -3.26% vs -4.21% for BNDD. On fees, XTWY is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XTWY or BNDD?

Over the 3-year period, XTWY has performed better with a -3.26% return vs -4.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XTWY or BNDD?

XTWY is cheaper with a 0.12% expense ratio, compared with 1.02% for BNDD.

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

XTWY has the higher dividend yield at 4.63%, compared with 3.53% for BNDD.

What is the main difference between XTWY and BNDD?

They also come from different issuers: BondBloxx and KraneShares. Their fees differ too: 0.12% for XTWY and 1.02% for BNDD.

Which has better risk-adjusted returns?

BNDD currently has the higher Sharpe Ratio (0.42 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.