BNDW vs CPLB: Grades, Fees and Holdings Compared

Vanguard Total World Bond ETF

BNDWANasdaq

NYLI MacKay Core Plus Bond ETF

CPLBBNYSE Arca

Overlap

No data

Expense ratio

BNDW −0.25pt a year

BNDW0.05%CPLB0.30%

Avg volume · 30D

CPLB 1.02×the volume

BNDW117KCPLB120K

5Y return · a year

CPLB +0.5pt

BNDW+0.1%CPLB+0.6%

BNDW vs CPLB Performance

Nov 2, 2021 – Nov 2, 2026

+0.3%BNDW+2.9%CPLB

Expense ratio: BNDW 0.05%, better; CPLB 0.30%
Fund size: BNDW $1.9B; CPLB $493M
1Y total return: BNDW −0.2%; CPLB +0.6%, better
Yield (12M): BNDW 4.68%; CPLB 5.98%, better
Holdings: BNDW 4; CPLB 1103
Avg volume (30D): BNDW 117K sh; CPLB 120K sh, better
NAV per share: BNDW $66.90; CPLB $20.26
52W range

ETF.net Grade

Pillar letters and Scores for BNDW, CPLB, with each pillar’s weight
Pillar	BNDW	CPLB
Cost30% weight	A100Higher	A80
Mission25% weight	A100Higher	A94
Risk15% weight	C43	B57Higher
Tradability15% weight	B66Higher	D33
Holdings10% weight	F20	C50Higher
Durability5% weight	A83Higher	C43

Rank among Global Aggregate Bond (Unhedged) funds

How we build Categories ›

Same Category. BNDW and CPLB are both graded against the same 28 Global Aggregate Bond (Unhedged) funds, so their Grades compare head to head.

Global Aggregate Bond (Unhedged)⁠

Category · 28 funds

See all 28 ›

BNDW ranks 2nd and CPLB 8th of 28 funds in the Global Aggregate Bond (Unhedged) Category.

Rank 1ADFGPDimensional Global Core Plus Fixed Income ETFScore 81
Rank 2ABNDWVanguard Total World Bond ETFScore 77
Rank 2AGRNBVanEck Green Bond ETFScore 77
Rank 8BBINCiShares Flexible Income Active ETFScore 68
Rank 8BCPLBNYLI MacKay Core Plus Bond ETFScore 68
Rank 10BFLXRTCW Flexible Income ETFScore 67

Our read on each fund

ETF.net Research

BNDWAVanguard Total World Bond ETF

CPLBBNYLI MacKay Core Plus Bond ETF

In short

BNDW One ticker for the whole investment-grade bond market, home and abroad. Vanguard built BNDW as a wrapper around its own US and international bond funds and prices the package at 0.05% a year.

CPLB Born in 2021 as an ESG bond fund, CPLB dropped the screens in December 2024 and came back as a plain actively managed core plus bond ETF from MacKay Shields, at 0.30% net of a waiver through August 28, 2027.

Stated mandate

BNDW The fund seeks to track the Bloomberg Global Aggregate Float Adjusted Composite Index and provide broad exposure to the global investment-grade bond market through an ETF-of-ETFs structure.

CPLB The Fund seeks total return.

Why people hold it

BNDW 0.05% a year against a category median of 0.36%. The global version costs a fraction of what the typical aggregate bond fund charges.
An ETF-of-ETFs by design: one buy covers US and overseas investment-grade bonds, tracking the Bloomberg Global Aggregate Float Adjusted Composite Index.vanguard.com
Income arrives monthly, not quarterly, and the fund has hugged its benchmark closely rather than drifting from it.
Running since 2018 and now a multi-billion-dollar fund, it sits among the stronger builds in a crowded aggregate-bond field.

CPLB 0.30% net of a waiver through August 28, 2027, below the category median and under Fidelity's FBND at 0.36%.sec.gov
No index to hug: MacKay Shields' multi-sector and high-yield teams pick the bonds, roughly 1,000 of them, with prospectus limits on how far they can reach.nylim.com sec.gov
Pays monthly, and the portfolio matches the mandate on the tin: global bonds, total return, nothing exotic bolted on. One of the stronger builds in its peer group.

Worth knowing

BNDW US-only aggregate funds (BND, SPAB, SCHZ) run a touch cheaper at 0.03%. Global reach is what the extra basis points buy.
Volume is moderate next to the US aggregate giants, which can show up as a wider spread when you trade.
Still a bond fund: prices move against interest rates, and here the rate cycles of several countries feed into that, not just the Fed's.

CPLB The 'plus' is credit risk: up to 30% can sit below investment grade, up to 20% in foreign issuers and up to 10% in emerging markets.sec.gov
That 0.30% is a contract, not a promise: the gross fee is 0.44%, and the cap runs to August 28, 2027.sec.gov
Moderately traded rather than a category heavyweight, so trading costs matter more here than with the largest bond ETFs.

Full BNDW profile⁠

Full CPLB profile⁠

BNDW vs CPLB Holdings

How BNDW and CPLB differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile58.8%
Asset classFixed Income100%

Sector

No Sector split for BNDW and CPLB.

Country, concentration and asset class

Country by domicile

Country weights in BNDW and CPLB, widest gap first
Country	More in BNDWMore in CPLB	BNDW	CPLB
United States	CPLB +39.8 points	50.3%	90.1%
Japan	BNDW +5.6 points	5.7%	0.1%
France	BNDW +5.2 points	5.6%	0.4%
Germany	BNDW +4.8 points	5.1%	0.3%
Italy	BNDW +3.4 points	3.6%	0.2%
United Kingdom	BNDW +3.0 points	4.4%	1.4%
Canada	BNDW +2.8 points	3.9%	1.1%
Spain	BNDW +2.6 points	2.6%	0.0%
Other countries (33)	BNDW +12.5 points	18.9%	6.4%

Outside the US: BNDW 80% developed, 20% emerging.

Concentration

Weight in the 10 largest Holdings

BNDW100.0%
CPLB28.3%

Securities held

BNDW2
CPLB1,100

Asset class

BNDW: Fixed Income
CPLB: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BNDW holds 2 securities, CPLB 1,100.

All 2 BNDW holdings⁠All 1,042 CPLB holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BNDW vs CPLB Cost

Overpaying CPLB vs BNDW

$5,089

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BNDW 0.05%
$1,060
CPLB 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

BNDW 0.05%
CPLB 0.30%
Overpaying

Year by year

Year	BNDW	CPLB	Overpaying
10	$92	$545	$453
20	$360	$2,113	$1,753
30	$1,060	$6,149	$5,089

Expense ratio

0.05%BNDW, cheaper
0.30%CPLB

BNDW0.05%CPLB0.30%

0.05%1.15%

Middle half of Global Aggregate Bond (Unhedged) funds
Median 0.40%

BNDW cheapest of 28 funds

CPLB 6th cheapest of 28 funds

BNDW vs CPLB Dividends

Last 12 months to Nov 2, 2026

Yield (12M): BNDW 4.68%; CPLB 5.98%, better
Payout (12M): BNDW $3.12; CPLB $1.21
Last payment: BNDW $0.21; CPLB $0.08
Ex-dividend: BNDW Nov 2, 2026; CPLB Oct 30, 2026
Paid on: BNDW Pays Nov 4, 2026; CPLB Pays Nov 3, 2026
Frequency: BNDW Monthly; CPLB Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BNDWMonthly · 46 paymentsAll BNDW payments⁠

CPLBMonthly · 46 paymentsAll CPLB payments⁠

BNDW vs CPLB Risk

Fall from peak · 5 years

BNDW
CPLB

Risk facts

VolatilityStd dev, 3 years: BNDW 4.7%, betterCPLB 5.4%
Return per unit of riskSharpe ratio, 3 years: BNDW 0.10CPLB 0.45, better
Worst fallMax drawdown, 5 years: BNDW −16.2%, betterCPLB −18.5%
Market sensitivityBeta, 5 years: BNDW 0.82CPLB 0.92; Market = 1

BNDW and CPLB in the news

All news⁠

First-Year Review
Myriad's allocation fund gained 17%, 1.6 percentage points ahead of global stocks
Oct 2, 2026BNDW

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BNDW vs CPLB

In short

Stated mandate

Why people hold it

Worth knowing

How BNDW and CPLB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Myriad's allocation fund gained 17%, 1.6 percentage points ahead of global stocks

How BNDW and CPLB differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings