BNDX vs VMLUX
Vanguard Total International Bond ETF vs Vanguard Limited Term Tax-Exempt Fund admiral class
Quick Verdict
BNDX has a lower expense ratio. BNDX delivered stronger 1-year returns. VMLUX offers more diversification with 7,398 holdings.
Side-by-Side Comparison
| Metric | BNDX | VMLUX | Winner |
|---|---|---|---|
| Expense Ratio | 0.07% | 0.09% | |
| AUM | $82.7B | $34.5B | |
| Dividend Yield | 4.53% | 2.93% | |
| Holdings | 6,859 | 7,398 | |
| YTD Return | -0.35% | -1.00% | |
| 1Y Return | +0.86% | -0.73% | |
| 3Y Return (annualized) | +3.89% | +0.72% | |
| 5Y Return (annualized) | -0.15% | -0.62% | |
| Volatility (annualized) | 4.1% | 2.8% | |
| Max Drawdown | -17.2% | -8.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Tax Preferred | |
| Inception | May 31, 2013 | Feb 12, 2001 |
BNDX vs VMLUX Performance
Vanguard Total International Bond ETF (BNDX) is a ETF from Vanguard (US) and Vanguard Limited Term Tax-Exempt Fund admiral class (VMLUX) is a mutual fund from Vanguard (US). Over the past year BNDX returned +0.86% while VMLUX returned -0.73%. Year to date, BNDX is down 0.35% versus a loss of 1.00% for VMLUX.
Over three years, BNDX compounded at +3.89% per year against +0.72% for VMLUX; over five years the annualized figures are -0.15% and -0.62% respectively. Across the full 5-year window we track, BNDX has the edge at +1.02% annualized vs -0.62%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BNDX has been the more volatile fund, with annualized monthly volatility of 4.1% compared with 2.8% for VMLUX. 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 -8.4% for VMLUX. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BNDX charges 0.07% per year while VMLUX charges 0.09%. On a $10,000 position that is $7 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, BNDX currently yields 4.53% against 2.93% for VMLUX.
Holdings Overlap
BNDX and VMLUX share 0 holdings out of 1858 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 VMLUX?
BNDX has an expense ratio of 0.07% while VMLUX charges 0.09%. BNDX is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, BNDX or VMLUX?
Over the past year BNDX returned +0.86% vs -0.73% for VMLUX, so BNDX leads on 1-year performance. Over the longest common window we track (5 years), BNDX annualized +1.02% vs -0.62% for VMLUX. Past performance does not guarantee future results.
Which is riskier, BNDX or VMLUX?
BNDX has been the more volatile fund at 4.1% annualized versus 2.8% for VMLUX. Worst drawdown: BNDX -17.2% vs VMLUX -8.4%.
Should I hold both BNDX and VMLUX?
BNDX and VMLUX have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BNDX and VMLUX?
BNDX and VMLUX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1858 unique securities.
Which pays a higher dividend, BNDX or VMLUX?
BNDX yields 4.53% while VMLUX yields 2.93%, so BNDX currently pays the higher dividend yield.
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