SPDR Bloomberg International Treasury Bond ETF (BWX) Performance
BWX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −3.3% since Dec 31, 2025
- 1 year
- −4.1% total return
- 5 years
- −4.0% a year
- 10 years
- −1.3% a year
- Since first price
- +0.5% a year since 2007
BWX trailing returns vs AGG, TLT, SPY
| Period | BWX total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +0.7% | +0.5% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.8% | +0.2% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.3% | −3.5% | −1.5% | −3.8% | +7.8% |
| YTD | −3.3% | −5.0% | −1.0% | −3.4% | +12.3% |
| 1 year | −4.1% | −6.3% | −1.1% | −6.9% | +14.4% |
| 3 years | +8.3%+2.7%/yr | +1.7% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | −18.3%−4.0%/yr | −25.3% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | −12.0%−1.3%/yr | −23.0% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | −13.8%−1.0%/yr | −29.8% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionOct 5, 2007 | +8.9%+0.5%/yr | −17.5% | — | — | — |
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: BWX vs AGG
From Oct 5, 2007: BWX grew to $10,894, AGG to $17,156.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BWX returns by calendar year
11 of 18 full years positive. Best 2017 (+9.9%), worst 2022 (−19.7%). 2026 is year to date.
BWX annual returns table
| Year | BWX | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −3.3% | −7.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +7.7% | −4.3% | +7.2% | +4.3% | +17.7% |
| 2024 | −5.9% | −8.3% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.1% | −10.8% | +5.7% | +2.8% | +26.2% |
| 2022 | −19.7% | −27.2% | −13.0% | −31.2% | −18.2% |
| 2021 | −8.7% | −10.5% | −1.8% | −4.6% | +28.7% |
| 2020 | +9.5% | −13.4% | +7.5% | +18.2% | +18.3% |
| 2019 | +5.6% | −3.3% | +8.5% | +14.1% | +31.2% |
| 2018 | −1.9% | −9.0% | +0.1% | −1.6% | −4.6% |
| 2017 | +9.9% | −4.4% | +3.6% | +9.2% | +21.7% |
| 2016 | +0.6% | −12.7% | +2.4% | +1.2% | +12.0% |
| 2015 | −6.7% | −8.4% | +0.5% | −1.8% | +1.2% |
| 2014 | −2.5% | −8.4% | +6.0% | +27.3% | +13.5% |
| 2013 | −3.6% | −8.0% | −2.0% | −13.4% | +32.3% |
| 2012 | +5.8% | −3.7% | +3.8% | +2.6% | +16.0% |
| 2011 | +4.0% | −8.1% | +7.7% | +34.0% | +1.9% |
| 2010 | +4.0% | −9.2% | +6.4% | +9.0% | +15.1% |
| 2009 | +5.4% | −10.1% | +3.0% | −21.8% | +26.4% |
| 2008 | +4.2% | −16.9% | +7.9% | +33.9% | −36.8% |
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.
BWX largest drawdowns
Now 25.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 5, 2021 | −34.1% | Oct 20, 2022 | not yet | 1.8 years | 5.8 years so far |
| Mar 14, 2008 | −16.9% | Oct 10, 2008 | Sep 8, 2009 | 7 months | 1.5 years |
| Jun 30, 2014 | −15.4% | Nov 9, 2015 | Mar 3, 2020 | 1.4 years | 5.7 years |
| Mar 9, 2020 | −13.4% | Mar 18, 2020 | Jul 27, 2020 | 9 days | 5 months |
| Dec 1, 2009 | −13.0% | Jun 7, 2010 | Oct 1, 2010 | 6 months | 10 months |
| Oct 17, 2012 | −8.9% | Jul 5, 2013 | May 5, 2014 | 9 months | 1.5 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
BWX risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +2.0% | −4.2% | −1.8% | +0.3% |
| Volatility (annualized) | 9.3% | 10.8% | 9.0% | 9.0% |
| Sharpe ratio | -0.21 | -0.69 | -0.41 | -0.07 |
| Sortino ratio | -0.29 | -0.85 | -0.52 | -0.10 |
| Best month | +6.1% | +8.1% | +8.1% | +8.6% |
| Worst month | −4.9% | −7.0% | −7.0% | −7.0% |
| Best 12 months | +12.0% | +12.0% | +12.0% | +20.9% |
| Worst 12 months | −5.9% | −26.8% | −26.8% | −26.8% |
| Positive months | 58% | 48% | 53% | 56% |
| Beta vs S&P 500 | 0.32 | 0.42 | 0.28 | — |
| Correlation with S&P 500 | 0.43 | 0.61 | 0.48 | — |
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.
BWX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 217 | −26.8% | +0.9% | +20.9% | 55% |
| 3-year (a year) | 193 | −10.2% | +1.3% | +9.2% | 63% |
| 5-year (a year) | 169 | −4.8% | −0.3% | +5.8% | 45% |
| 10-year (a year) | 109 | −2.9% | −0.1% | +2.5% | 49% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
BWX performance overview
SPDR Bloomberg International Treasury Bond ETF (BWX) returned −4.1% over the past year and −1.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +0.5% a year, turning $10,000 into about $10,894. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −34.1%, from Jan 5, 2021 to Oct 20, 2022; the fund has not yet regained that high. BWX finished 11 of its 18 full calendar years with a gain; the best year was 2017 (+9.9%) and the worst 2022 (−19.7%). Volatility has been 9.0% a year.
Related: BWX chart, BWX dividends, BWX bond profile. See the BWX overview for the latest quote and fund facts.
BWX performance FAQ
What is the BWX return over the past year?
BWX returned −4.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 6.3%.
What is the average annual return of BWX?
BWX has returned −4.0% a year over 5 years, −1.3% a year over 10 years, +0.5% a year since October 5, 2007 (total return, distributions reinvested).
How much would $10,000 invested in BWX be worth?
$10,000 invested in BWX at its first recorded close on October 5, 2007 would be worth about $10,894 on October 23, 2026 with distributions reinvested.
What was the worst year for BWX?
The worst calendar year was 2022, with a total return of −19.7%. The best was 2017 at +9.9%.
What is the biggest drawdown of BWX?
The largest peak-to-trough decline was −34.1% between January 5, 2021 and October 20, 2022. It has not yet recovered to that high; it is 25.1% below its peak.
How volatile is BWX?
Over the past 3 years BWX had an annualized volatility of 9.3% and a Sharpe ratio of -0.21 (excess return over 1–3 month T-bills per unit of risk).