BND — Vanguard Total Bond Market Index Fund

Overview

The Vanguard Total Bond Market Index Fund (BND) operates within the US Bonds - Broad category, which ETFValuer currently tracks with three distinct funds. Issued by Vanguard, this fund has accumulated assets under management of $398 billion, reflecting significant investor adoption relative to its peers. Despite its large scale, the fund holds an overall rank of #87 out of 120 tracked ETFs across all categories, earning it an ETFValuer grade of C with a score of 56.5 out of 100. The fund maintains a low cost structure with an expense ratio of 0.03% while offering a dividend yield of 3.95%. Trading at a price of $72.70, the combination of high assets and a mid-tier grade suggests a mature vehicle that balances broad market exposure with moderate performance metrics. The fund's position as one of only three ETFs in its specific category highlights its status as a primary benchmark for the broad US bond market.

Recent price action shows a decline over the last day at -0.21% and a further drop of -0.64% over the past week. Over the last month, the fund posted a modest gain of +0.15%, though this positive momentum reversed into a -0.54% loss over the three-month period. The six-month return stands at -0.38%, and year-to-date performance is slightly negative at -0.19%. However, the longer-term trajectory shows improvement, with a one-year return of +3.46% and a three-year return of +11.12%. This pattern indicates a divergence where short-term fluctuations have been negative while the three-year horizon demonstrates sustained positive growth. The fund's closest category peers, AGG and SCHZ, recorded one-year returns of +3.60% and +3.50% respectively.

The fund carries a volatility label of Very Low and a beta of 0.98, suggesting its price movements generally align with the broader market while exhibiting subdued fluctuation. A Sharpe ratio of -0.41 indicates that the risk-adjusted returns have been negative over the measured period, implying that the returns generated did not adequately compensate for the volatility incurred. The maximum drawdown of -5.91% represents the largest peak-to-trough decline experienced by the fund, highlighting the extent of potential losses during downturns. This combination of a low beta and negative Sharpe ratio suggests the fund may have participated in market declines without generating sufficient upside to offset the risk. The Very Low volatility label contrasts with the negative risk-adjusted metrics, pointing to a period where low volatility did not translate into positive excess returns.

AI-generated summary based on the data on this page.

BND Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing.

Market Backdrop

10-Year Treasury Yield: 4.55% (as of 2026-07-07) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 16.13 (as of 2026-07-07) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

BND Performance History

How BND Compares to Other US Bonds - Broad ETFs