BNDX — Vanguard Total International Bond Index Fund

Overview

The Vanguard Total International Bond Index Fund (BNDX) operates within the International Bonds category, which ETFValuer tracks with a total of three funds. Issued by Vanguard, this fund has accumulated assets under management of $123 billion and trades at a price of $47.83. It holds an overall rank of #90 out of 120 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 55.1 out of 100. The fund offers a low expense ratio of 0.07% while providing a dividend yield of 4.46%. The substantial asset size and relatively low cost structure suggest significant investor adoption despite the mid-tier ranking. These metrics collectively define the fund's position as a large-cap, cost-efficient vehicle within its specific bond sector.

Short-term performance shows a decline, with the fund dropping 0.40% over one day and falling 1.01% over one week. The one-month return was slightly negative at -0.15%, though the three-month period saw a reversal to a positive return of +0.30%. Year-to-date performance remains modest at +0.13%, and the six-month return is nearly flat at -0.01%. Over the past year, the fund generated a return of +1.16%, while the three-year annualized return stands at +11.98%. This pattern indicates a divergence where short-term fluctuations have been negative or flat, contrasting with a positive trajectory over the longer three-year horizon.

The fund carries a Very Low volatility label and a beta of 0.62, suggesting it moves less than the broader market. Despite this lower volatility, the Sharpe ratio is recorded at -1.09, indicating that returns have not adequately compensated for the risk taken over the measured period. The maximum drawdown was limited to -2.93%, reflecting the fund's ability to limit losses during downturns. This combination of low beta and a small maximum drawdown implies a defensive behavior in down markets, yet the negative Sharpe ratio highlights challenges in generating positive risk-adjusted returns. The data points to a fund that preserves capital during declines but struggles to deliver strong relative gains during the observed timeframe.

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

BNDX Top Holdings

Holdings as of 2026-04-30 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.

High-Yield Credit Spread: 2.67% (as of 2026-07-07) — The extra yield investors demand to hold high-yield corporate bonds over Treasuries — a real-time gauge of credit risk appetite relevant to this fund’s holdings.

Trade-Weighted US Dollar Index: 120.69 (as of 2026-07-02) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

BNDX Performance History

How BNDX Compares to Other International Bonds ETFs