BNDX alternatives and similar ETFs

BNDX alternatives at a glance#

Each fund below can stand in for BNDX, closest first. “Same kind” funds hold the same kind of bonds through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How BNDX and its alternatives did over the same dates#

Each row measures the alternative and BNDX on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each BNDX alternative, compared#

IGOV: iShares International Treasury Bond ETF#

IGOV also holds government and company bonds from outside the US. It tracks the FTSE World Government Bond Index - Developed Markets Capped Select Index, while BNDX tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (Hedged).

It charges 0.35% a year, about $35 on $10,000, against $7 for BNDX. It held 981 holdings, against 6,837 for BNDX.

From June 2013 to October 2026, IGOV lost about 1.1% a year and BNDX returned about 2.2% a year. Over about the last five years they often moved together, but not always (correlation 0.70).

Read the IGOV fund page for its returns by year and worst drop.

BWX: State Street SPDR Bloomberg International Treasury Bond ETF#

BWX also holds government and company bonds from outside the US. It tracks the Bloomberg Global Treasury ex-US Capped Index, while BNDX tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (Hedged).

It charges 0.35% a year, about $35 on $10,000, against $7 for BNDX. It held 1,440 holdings, against 6,837 for BNDX.

From June 2013 to October 2026, BWX lost about 1.0% a year and BNDX returned about 2.2% a year. Over about the last five years they often moved together, but not always (correlation 0.68).

Read the BWX fund page for its returns by year and worst drop.

AGG: iShares Core U.S. Aggregate Bond ETF#

AGG is a looser match. It holds a broad mix of US bonds: government, company and mortgage bonds, while BNDX holds government and company bonds from outside the US.

It charges 0.03% a year, about $3 on $10,000, against $7 for BNDX. It held 13,416 holdings, against 6,837 for BNDX.

From June 2013 to October 2026, AGG returned about 1.8% a year and BNDX returned about 2.2% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the AGG fund page for its returns by year and worst drop.

BND: Vanguard Total Bond Market ETF#

BND is a looser match. It holds a broad mix of US bonds: government, company and mortgage bonds, while BNDX holds government and company bonds from outside the US.

It charges 0.03% a year, about $3 on $10,000, against $7 for BNDX. It held 11,434 holdings, against 6,837 for BNDX.

From June 2013 to October 2026, BND returned about 1.8% a year and BNDX returned about 2.2% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the BND fund page for its returns by year and worst drop.

SCHZ: Schwab U.S. Aggregate Bond ETF#

SCHZ is a looser match. It holds a broad mix of US bonds: government, company and mortgage bonds, while BNDX holds government and company bonds from outside the US.

It charges 0.03% a year, about $3 on $10,000, against $7 for BNDX. It held 12,355 holdings, against 6,837 for BNDX.

From June 2013 to October 2026, SCHZ returned about 1.7% a year and BNDX returned about 2.2% a year. Over about the last five years they often moved together, but not always (correlation 0.82).

Read the SCHZ fund page for its returns by year and worst drop.

IUSB: iShares Core Universal USD Bond ETF#

IUSB is a looser match. It holds a broad mix of US bonds: government, company and mortgage bonds, while BNDX holds government and company bonds from outside the US.

It charges 0.06% a year, about $6 on $10,000, against $7 for BNDX. It held 18,251 holdings, against 6,837 for BNDX.

From June 2014 to October 2026, IUSB returned about 2.0% a year and BNDX returned about 2.1% a year. Over about the last five years they often moved together, but not always (correlation 0.81).

Read the IUSB fund page for its returns by year and worst drop.

EMB: iShares J.P. Morgan USD Emerging Markets Bond ETF#

EMB is a looser match. It holds bonds from governments and companies in emerging countries, while BNDX holds government and company bonds from outside the US.

It charges 0.39% a year, about $39 on $10,000, against $7 for BNDX. It held 616 holdings, against 6,837 for BNDX.

From June 2013 to October 2026, EMB returned about 3.1% a year and BNDX returned about 2.2% a year. Over about the last five years they often moved together, but not always (correlation 0.60).

Read the EMB fund page for its returns by year and worst drop.

BNDX versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to BNDX from each other company on this page:

• iShares (BlackRock): IGOV, iShares International Treasury Bond ETF (same kind of fund, 0.35% a year)
• SPDR (State Street): BWX, State Street SPDR Bloomberg International Treasury Bond ETF (same kind of fund, 0.35% a year)
• Schwab: SCHZ, Schwab U.S. Aggregate Bond ETF (related fund, 0.03% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between BNDX and its alternatives#

• What it tracks. A fund on the same index holds the same bonds. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, BNDX costs about $7 a year. AGG costs about $3.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping BNDX to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as IGOV, BWX or AGG, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test BNDX and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add BNDX and IGOV, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as BNDX. Then come funds that hold the same kind of bonds through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like BNDX over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with BNDX only on days both traded. Read what a backtest simulates for more on these measures.