Data as of Oct 28, 2026.
BNDX vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, BNDX returned −0.9% to SPY's +13.6%; 0% of their weight is in the same names.
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Net assets: $82.9bn on Sep 30, 2026 for Vanguard Total International Bond ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
BNDX costs 0.02 points a year less; their one-year returns differ by 14.5 points; SPY is 9.8 times larger.
| Measure | BNDX | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | −0.9% | +13.6% |
| Benchmark | ||
| What it tracks | Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.07% | 0.09% |
| Net assets, as of Sep 30, 2026 | $82.9bn | $809.2bn |
| Holdings | ||
| Holdings in common | 0% | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Jun 14, 2013 to Oct 23, 2026 · 697 weekly returnsSPY returned more: +485.8% to +35.1%. BNDX swung less: 3.8% to 15.9%. BNDX fell less at its worst: −16.0% to −31.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | BNDX | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +35.1% | +485.8% | SPY | Price change plus distributions, reinvested. |
| Annualized | +2.3% | +14.1% | SPY | Total return as a yearly rate. |
| Price return | −5.5% | +365.7% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 3.8% | 15.9% | BNDX | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 2.8% | 11.0% | BNDX | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −16.0% | −31.8% | BNDX | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.11 | 0.79 | SPY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.15 | 1.14 | SPY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.14 | 0.44 | SPY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 697 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, BNDX and SPY hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
BNDX and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
BNDX and SPY do different jobs. What does each one do in a portfolio?
- What each follows. BNDX follows Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged) and SPY follows S&P 500 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Sep 30, 2026 and Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 BNDX returned −0.9% and SPY +13.6% with distributions reinvested, a gap of 14.5 points.
Data as of Oct 28, 2026.
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BNDX
BNDX tracks an index of Total International Bond. Over the year to Oct 28, 2026 it returned −0.9% with distributions reinvested. The prospectus expense ratio is 0.07% a year.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, BNDX or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, BNDX returned −0.9% and SPY +13.6%.
- Which is cheaper, BNDX or SPY?
- BNDX is cheaper, by 0.02 percentage points a year. That is about $2 on $10,000 held for a year. Fees come from each fund's prospectus.
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How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, BNDX against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/bndx-vs-spy
ETFIQ. (Oct 28, 2026). BNDX against SPY. Retrieved from https://etfiq.com/compare/any/bndx-vs-spy
[BNDX against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/bndx-vs-spy)
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