Vanguard Total World Bond ETF (BNDW) Performance
BNDW total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.5% since Dec 31, 2025
- 1 year
- −1.0% total return
- 5 years
- +0.1% a year
- Since first price
- +1.6% a year since 2018
BNDW trailing returns vs AGG, TLT, SPY
| Period | BNDW total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.9% | +0.6% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.3% | −1.2% | −0.4% | −1.0% | +3.2% |
| 6 months | −0.9% | −2.6% | −1.5% | −3.8% | +7.8% |
| YTD | −0.5% | −3.1% | −1.0% | −3.4% | +12.3% |
| 1 year | −1.0% | −5.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +15.2%+4.8%/yr | +1.7% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +0.3%+0.1%/yr | −16.0% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| Since inceptionSep 6, 2018 | +13.9%+1.6%/yr | −11.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BNDW vs AGG
From Sep 6, 2018: BNDW grew to $11,394, AGG to $11,454.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BNDW returns by calendar year
5 of 7 full years positive. Best 2019 (+8.4%), worst 2022 (−12.9%). 2026 is year to date.
BNDW annual returns table
| Year | BNDW | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.5% | −3.9% | −1.0% | −3.4% | +12.3% |
| 2025 | +5.0% | −1.6% | +7.2% | +4.3% | +17.7% |
| 2024 | +2.4% | −2.5% | +1.3% | −8.1% | +24.9% |
| 2023 | +7.2% | −4.9% | +5.7% | +2.8% | +26.2% |
| 2022 | −12.9% | −15.1% | −13.0% | −31.2% | −18.2% |
| 2021 | −2.1% | −3.2% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.2% | −7.6% | +7.5% | +18.2% | +18.3% |
| 2019 | +8.4% | −2.0% | +8.5% | +14.1% | +31.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BNDW largest drawdowns
Now 2.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 31, 2020 | −17.2% | Oct 20, 2022 | Feb 26, 2026 | 1.8 years | 5.2 years |
| Mar 6, 2020 | −7.6% | Mar 19, 2020 | Jun 29, 2020 | 13 days | 4 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
BNDW risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +4.0% | −0.3% | +1.5% |
| Volatility (annualized) | 4.7% | 5.8% | 5.1% |
| Sharpe ratio | -0.08 | -0.66 | -0.19 |
| Sortino ratio | -0.11 | -0.83 | -0.26 |
| Best month | +3.9% | +3.9% | +3.9% |
| Worst month | −2.0% | −3.6% | −3.6% |
| Best 12 months | +10.9% | +10.9% | +11.0% |
| Worst 12 months | −1.4% | −14.0% | −14.0% |
| Positive months | 64% | 50% | 54% |
| Beta vs S&P 500 | 0.20 | 0.24 | — |
| Correlation with S&P 500 | 0.52 | 0.66 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BNDW rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 86 | −14.0% | +2.9% | +11.0% | 66% |
| 3-year (a year) | 62 | −4.9% | −0.8% | +5.4% | 45% |
| 5-year (a year) | 38 | −0.6% | −0.1% | +1.0% | 39% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
BNDW performance overview
Vanguard Total World Bond ETF (BNDW) returned −1.0% over the past year and +0.1% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +1.6% a year, turning $10,000 into about $11,394. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −17.2%, from Dec 31, 2020 to Oct 20, 2022, and it took 3.4 years to get back to the old high. BNDW finished 5 of its 7 full calendar years with a gain; the best year was 2019 (+8.4%) and the worst 2022 (−12.9%). Volatility has been 5.1% a year.
Related: BNDW chart, BNDW dividends, BNDW bond profile. See the BNDW overview for the latest quote and fund facts.
BNDW performance FAQ
What is the BNDW return over the past year?
BNDW returned −1.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 5.1%.
What is the average annual return of BNDW?
BNDW has returned +0.1% a year over 5 years, +1.6% a year since September 6, 2018 (total return, distributions reinvested).
How much would $10,000 invested in BNDW be worth?
$10,000 invested in BNDW at its first recorded close on September 6, 2018 would be worth about $11,394 on October 23, 2026 with distributions reinvested.
What was the worst year for BNDW?
The worst calendar year was 2022, with a total return of −12.9%. The best was 2019 at +8.4%.
What is the biggest drawdown of BNDW?
The largest peak-to-trough decline was −17.2% between December 31, 2020 and October 20, 2022. It recovered to the old high on February 26, 2026, 3.4 years after the bottom.
How volatile is BNDW?
Over the past 3 years BNDW had an annualized volatility of 4.7% and a Sharpe ratio of -0.08 (excess return over 1–3 month T-bills per unit of risk).