BNDX vs SPDW
Vanguard Total International Bond ETF vs State Street SPDR Portfolio Developed World ex-US ETF
Quick Verdict
SPDW has a lower expense ratio. SPDW delivered stronger 1-year returns. SPDW offers more diversification with 2348 holdings.
Side-by-Side Comparison
| Metric | BNDX | SPDW | Winner |
|---|---|---|---|
| Expense Ratio | 0.07% | 0.03% | |
| AUM | $83.0B | $40.0B | |
| Dividend Yield | 4.45% | 3.02% | |
| Holdings | 13,626 | 2,440 | |
| YTD Return | +0.35% | +16.26% | |
| 1Y Return | +1.09% | +29.61% | |
| 3Y Return (annualized) | +4.19% | +19.85% | |
| 5Y Return (annualized) | -0.06% | +9.63% | |
| Volatility (annualized) | 4.1% | 17.6% | |
| Max Drawdown | -17.2% | -62.2% | |
| Fund Family | Vanguard (US) | SPDR State Street Global Advisors | |
| Category | Fixed Income | Equity | |
| Inception | May 31, 2013 | Apr 20, 2007 |
BNDX vs SPDW Performance
Vanguard Total International Bond ETF (BNDX) is a ETF from Vanguard (US) and State Street SPDR Portfolio Developed World ex-US ETF (SPDW) is a ETF from SPDR State Street Global Advisors. Over the past year BNDX returned +1.09% while SPDW returned +29.61%. Year to date, BNDX is up 0.35% versus a gain of 16.26% for SPDW.
Over three years, BNDX compounded at +4.19% per year against +19.85% for SPDW; over five years the annualized figures are -0.06% and +9.63% respectively. Across the full 13-year window we track, SPDW has the edge at +3.15% annualized vs +1.08%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPDW has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 4.1% for BNDX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -17.2% for BNDX and -62.2% for SPDW. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BNDX charges 0.07% per year while SPDW charges 0.03%. On a $10,000 position that is $7 vs $3 annually, a gap of $4 per year that compounds over a long holding period. On income, BNDX currently yields 4.45% against 3.02% for SPDW.
Holdings Overlap
BNDX and SPDW share 0 holdings out of 3617 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BNDX or SPDW?
BNDX has an expense ratio of 0.07% while SPDW charges 0.03%. SPDW is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, BNDX or SPDW?
Over the past year BNDX returned +1.09% vs +29.61% for SPDW, so SPDW leads on 1-year performance. Over the longest common window we track (13 years), BNDX annualized +1.08% vs +3.15% for SPDW. Past performance does not guarantee future results.
Which is riskier, BNDX or SPDW?
SPDW has been the more volatile fund at 17.6% annualized versus 4.1% for BNDX. Worst drawdown: BNDX -17.2% vs SPDW -62.2%.
Should I hold both BNDX and SPDW?
BNDX and SPDW have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BNDX and SPDW?
BNDX and SPDW share 0 common holdings with a 0.0% weight overlap. Combined, they hold 3617 unique securities.
Which pays a higher dividend, BNDX or SPDW?
BNDX yields 4.45% while SPDW yields 3.02%, so BNDX currently pays the higher dividend yield.
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