BNDW vs PYLD: Grades, Fees and Holdings Compared

Vanguard Total World Bond ETF

BNDWANasdaq

PIMCO Multisector Bond Active Exchange-Traded Fund

PYLDBNYSE Arca

Overlap

No data

Expense ratio

BNDW −0.51pt a year

BNDW0.05%PYLD0.56%

Avg volume · 30D

PYLD 43.6×the volume

BNDW117KPYLD5.11M

3Y return · a year

PYLD +3.7pt

BNDW+4.9%PYLD+8.6%

BNDW vs PYLD Performance

Oct 31, 2025 – Oct 30, 2026

−0.4%BNDW+1.6%PYLD

Expense ratio: BNDW 0.05%, better; PYLD 0.56%
Fund size: BNDW $1.9B; PYLD $15.9B
1Y total return: BNDW −0.4%; PYLD +1.6%, better
Yield (12M): BNDW 4.36%; PYLD 6.54%, better
Holdings: BNDW 4; PYLD 2035
Avg volume (30D): BNDW 117K sh; PYLD 5.11M sh, better
NAV per share: BNDW $66.90; PYLD $25.58
52W range

ETF.net Grade

Pillar letters and Scores for BNDW, PYLD, with each pillar’s weight
Pillar	BNDW	PYLD
Cost30% weight	A100Higher	F18
Mission25% weight	A100Higher	A96
Risk15% weight	C43	B66Higher
Tradability15% weight	B67	A75Higher
Holdings10% weight	F20	B56Higher
Durability5% weight	A83Higher	A72

Rank among Global Aggregate Bond (Unhedged) funds

How we build Categories ›

Same Category. BNDW and PYLD 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 PYLD 16th of 28 funds in the Global Aggregate Bond (Unhedged) Category.

Rank 1ADFGPDimensional Global Core Plus Fixed Income ETFScore 80
Rank 2ABNDWVanguard Total World Bond ETFScore 77
Rank 2AGRNBVanEck Green Bond ETFScore 77
Rank 14BHFSIHartford Strategic Income ETFScore 61
Rank 16BPYLDPIMCO Multisector Bond Active Exchange-Traded FundScore 59
Rank 17BBONDPIMCO Active Bond Exchange-Traded FundScore 56

Our read on each fund

ETF.net Research

BNDWAVanguard Total World Bond ETF

PYLDBPIMCO Multisector Bond Active Exchange-Traded Fund

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.

PYLD PIMCO's go-anywhere credit desk, wrapped in an ETF. No benchmark to hug: the team roams global bond sectors hunting yield and pays out monthly. The fee is a real one, but so is the mandate.

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.

PYLD The Fund seeks to maximize yield and achieve long-term capital appreciation while using prudent investment management.

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.

PYLD Benchmark-agnostic by design: at least 80% in a multi-sector global bond portfolio spanning investment grade and high yield, run by a team that includes PIMCO's group CIO.yahoo.com
Roughly a thousand bond positions across sectors and maturities, so no single issuer sets the tone.
The stated objective is blunt: maximize yield while seeking long-term capital appreciation. Distributions land monthly.
A multi-billion-dollar fund that trades actively, unusual scale for an ETF that only launched in 2023.

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.

PYLD 0.74% a year is active-manager pricing in a cohort where index Aggs like BND and SCHZ charge 0.03% and the typical fund charges 0.36%.
Go-anywhere and derivative-friendly: results can diverge from the Agg in either direction. You are buying a manager's calls, not an index.yahoo.com
Launched in 2023, so the track record in this wrapper is still short compared with the index veterans it sits beside.

Full BNDW profile⁠

Full PYLD profile⁠

BNDW vs PYLD Holdings

How BNDW and PYLD differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile50.5%
Asset classFixed Income100%

Sector

No Sector split for BNDW and PYLD.

Country, concentration and asset class

Country by domicile

Country weights in BNDW and PYLD, widest gap first
Country	More in BNDWMore in PYLD	BNDW	PYLD
United States	PYLD +49.5 points	50.3%	99.8%
Japan	BNDW +5.7 points	5.7%	0.0%
France	BNDW +5.6 points	5.6%	0.0%
Germany	BNDW +5.1 points	5.1%	0.0%
United Kingdom	BNDW +4.4 points	4.4%	0.0%
Supranational	BNDW +4.4 points	4.4%	0.0%
Canada	BNDW +3.7 points	3.9%	0.2%
Italy	BNDW +3.6 points	3.6%	0.0%
Other countries (31)	BNDW +17.1 points	17.1%	0.0%

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

Concentration

Weight in the 10 largest Holdings

BNDW100.0%
PYLD34.5%

Securities held

BNDW2
PYLD2,004

Asset class

BNDW: Fixed Income
PYLD: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BNDW holds 2 securities, PYLD 2,004.

All 2 BNDW holdings⁠All 1,118 PYLD 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 PYLD Cost

Overpaying PYLD vs BNDW

$10,028

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

BNDW 0.05%
$1,060
PYLD 0.56%
$11,088

Amount$10,000

Years30 years

Cost over time

BNDW 0.05%
PYLD 0.56%
Overpaying

Year by year

Year	BNDW	PYLD	Overpaying
10	$92	$1,006	$914
20	$360	$3,855	$3,495
30	$1,060	$11,088	$10,028

Expense ratio

0.05%BNDW, cheaper
0.56%PYLD

BNDW0.05%PYLD0.56%

0.05%1.15%

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

BNDW cheapest of 28 funds

PYLD 24th cheapest of 28 funds

BNDW vs PYLD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BNDW 4.36%; PYLD 6.54%, better
Payout (12M): BNDW $2.92; PYLD $1.68
Last payment: BNDW $0.20; PYLD $0.14
Ex-dividend: BNDW Oct 1, 2026; PYLD Oct 1, 2026
Paid on: BNDW Oct 5, 2026; PYLD Oct 5, 2026
Frequency: BNDW Monthly; PYLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BNDWMonthly · 45 paymentsAll BNDW payments⁠

PYLDMonthly · 40 paymentsAll PYLD payments⁠

BNDW vs PYLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BNDW 4.7%, betterPYLD 4.9%
Return per unit of riskSharpe ratio, 3 years: BNDW 0.10PYLD 0.81, better
Worst fallMax drawdown, 5 years: BNDW −16.2%PYLD −4.5%since Jun 2023
Market sensitivityBeta, 5 years: BNDW 0.82PYLD 0.81; Market = 1

BNDW and PYLD in the news

All news⁠

New ETFs
XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF
Oct 12, 2026PYLD
First-Year Review
Myriad's allocation fund gained 17%, 1.6 percentage points ahead of global stocks
Oct 2, 2026BNDW
First-Year Review
Hartford Dynamic Bond ETF's first year: coupons covered a 3.9% slide
Sep 23, 2026PYLD

Popular comparisons

BNDWAvsDFGPA
Vanguard Total World Bond ETF · Dimensional Global Core Plus Fixed Income ETF
Expense ratio
0.05% · 0.22%
Category
PYLDBvsDFGPA
PIMCO Multisector Bond Active Exchange-Traded Fund · Dimensional Global Core Plus Fixed Income ETF
Expense ratio
0.56% · 0.22%
Category
BNDWAvsGRNBA
Vanguard Total World Bond ETF · VanEck Green Bond ETF
Expense ratio
0.05% · 0.20%
Category
PYLDBvsGRNBA
PIMCO Multisector Bond Active Exchange-Traded Fund · VanEck Green Bond ETF
Expense ratio
0.56% · 0.20%
Category
BNDWAvsDFGXA
Vanguard Total World Bond ETF · Dimensional International Core Fixed Income ETF
Expense ratio
0.05% · 0.20%
Category
PYLDBvsDFGXA
PIMCO Multisector Bond Active Exchange-Traded Fund · Dimensional International Core Fixed Income ETF
Expense ratio
0.56% · 0.20%
Category

BNDW vs PYLD

In short

Stated mandate

Why people hold it