BNDX vs SCHZ: Grades, Fees and Holdings Compared

Vanguard Total International Bond ETF

BNDXANasdaq

Schwab U.S. Aggregate Bond ETF

SCHZANYSE Arca

Overlap

No data

Expense ratio

SCHZ −0.04pt a year

BNDX0.07%SCHZ0.03%

Avg volume · 30D

BNDX 1.9×the volume

BNDX4.48MSCHZ2.37M

10Y return · a year

BNDX +0.3pt

BNDX+1.5%SCHZ+1.2%

BNDX vs SCHZ Performance

Oct 29, 2021 – Oct 30, 2026

+1.6%BNDX−1.0%SCHZ

Expense ratio: BNDX 0.07%; SCHZ 0.03%, better
Fund size: BNDX $122B; SCHZ $10.8B
1Y total return: BNDX −0.5%; SCHZ −0.2%, better
Yield (12M): BNDX 4.64%, better; SCHZ 4.27%
Holdings: BNDX 6854; SCHZ 12610
Avg volume (30D): BNDX 4.48M sh, better; SCHZ 2.37M sh
NAV per share: BNDX $47.33; SCHZ $22.54
52W range

ETF.net Grade

Pillar letters and Scores for BNDX, SCHZ, with each pillar’s weight
Pillar	BNDX	SCHZ
Cost30% weight	A88	A97Higher
Mission25% weight	Not scored	A100
Risk15% weight	C54Higher	C47
Tradability15% weight	B65	A85Higher
Holdings10% weight	A99Higher	A78
Durability5% weight	A96Higher	A88

Rank among US Aggregate Bond funds

How we build Categories ›

Same Category. BNDX and SCHZ are both graded against the same 114 US Aggregate Bond funds, so their Grades compare head to head.

US Aggregate Bond⁠

Category · 114 funds

See all 114 ›

SCHZ ranks 2nd and BNDX 12th of 114 funds in the US Aggregate Bond Category.

Rank 1AAGGiShares Core U.S. Aggregate Bond ETFScore 87
Rank 2AIUSBiShares Core Universal USD Bond ETFScore 86
Rank 2ASCHZSchwab U.S. Aggregate Bond ETFScore 86
Rank 2ASPABState Street SPDR Portfolio Aggregate Bond ETFScore 86
Rank 12AAVIGAvantis Core Fixed Income ETFScore 78
Rank 12ABNDXVanguard Total International Bond ETFScore 78
Rank 14AAGGYWisdomTree Yield Enhanced U.S. Aggregate Bond FundScore 77

Our read on each fund

ETF.net Research

BNDXAVanguard Total International Bond ETF

SCHZASchwab U.S. Aggregate Bond ETF

In short

BNDX The international half of a global bond portfolio with the currency risk stripped out. BNDX tracks investment-grade bonds from outside the US and hedges them back to dollars, so you get foreign rates and credit without the FX rollercoaster.

SCHZ Schwab's core bond holding: the broad U.S. investment-grade bond market, over 10,000 issues deep, for 0.03% a year. That is the floor of a category whose median fee is more than ten times higher. Running since 2011, pays monthly.

Stated mandate

BNDX Seeks to track a benchmark measuring the investment return of non-U.S.-dollar-denominated investment-grade bonds. It uses currency hedging and index sampling while maintaining broad exposure to major non-U.S. bond markets.

SCHZ The fund seeks to track the total return of an index representing the broad U.S. investment-grade bond market.

Why people hold it

BNDX Hedges its foreign bond exposure back to US dollars, so results track overseas rates and credit rather than swings in the euro or yen.vanguard.com
Charges 0.07% a year, near the floor for index bond funds, and covers the ex-US ground its stablemate BND leaves out.
Running since 2013, one of the largest and most actively traded bond ETFs around, and it distributes monthly.
Uses index sampling to hold a broad spread of investment-grade debt across the major non-US bond markets, one of the stronger builds in its peer group.vanguard.com

SCHZ 0.03% a year sits at the category floor, against a cohort median of 0.36%. Only a short list of aggregate-bond funds matches it, including AGG, BND and SPAB.
Tracks the Bloomberg US Aggregate Bond Index tightly, one of the cleanest index implementations among the 187 funds in its peer group.schwabassetmanagement.com
One ticker, thousands of investment-grade U.S. bonds, income paid monthly. The plumbing of a bond portfolio without buying a single bond yourself.
Live since 2011 and now a multi-billion-dollar fund that trades actively, so trading costs on ordinary retail-sized orders tend to be minor.

Worth knowing

BNDX The hedge cuts both ways: it removes the lift from a falling dollar along with the drag from a rising one.
Interest rates in Europe and Japan move this portfolio, and a currency hedge does nothing to soften that.
No US bonds by mandate. It covers the ex-US slice of a bond allocation only.vanguard.com

SCHZ This is duration exposure, not a cash substitute. Interest-rate moves, not credit selection, drive most of the ride, and that is the weakest part of its risk profile.
Investment grade and U.S. only: no high-yield, no foreign bonds. Funds like BNDX cover the international side of the cohort.
The aggregate-bond aisle is commoditized. Against AGG, BND and SPAB at the same 0.03%, the differences come down to index variant and where you already custody, not fee.

Full BNDX profile⁠

Full SCHZ profile⁠

BNDX vs SCHZ Holdings

How BNDX and SCHZ differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile8.7%
Asset classFixed Income100%

Sector

No Sector split for BNDX and SCHZ.

Country, concentration and asset class

Country by domicile

Country weights in BNDX and SCHZ, widest gap first
Country	More in BNDXMore in SCHZ	BNDX	SCHZ
United States	SCHZ +90.8 points	3.5%	94.3%
France	BNDX +11.4 points	11.5%	0.1%
Japan	BNDX +10.8 points	11.3%	0.5%
Germany	BNDX +9.9 points	10.2%	0.3%
Italy	BNDX +7.5 points	7.5%	0.0%
United Kingdom	BNDX +7.4 points	8.2%	0.8%
Supranational	BNDX +7.1 points	7.4%	0.3%
Canada	BNDX +5.9 points	7.0%	1.1%
Other countries (29)	BNDX +30.8 points	33.4%	2.6%

Outside the US: BNDX 82% developed, 18% emerging.

Concentration

Weight in the 10 largest Holdings

BNDX4.1%
SCHZ4.8%

Securities held

BNDX6,825
SCHZ12,608

Asset class

BNDX: Fixed Income
SCHZ: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. BNDX holds 6,825 securities, SCHZ 12,608.

All BNDX holdings⁠All 12,611 SCHZ 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.

BNDX vs SCHZ Cost

Overpaying BNDX vs SCHZ

$842

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

BNDX 0.07%
$1,480
SCHZ 0.03%
$638

Amount$10,000

Years30 years

Cost over time

BNDX 0.07%
SCHZ 0.03%
Overpaying

Year by year

Year	BNDX	SCHZ	Overpaying
10	$128	$55	$73
20	$503	$216	$287
30	$1,480	$638	$842

Expense ratio

0.07%BNDX
0.03%SCHZ, cheaper

SCHZ0.03%BNDX0.07%

0.00%1.04%

Middle half of US Aggregate Bond funds
Median 0.34%

SCHZ 2nd cheapest of 114 funds

BNDX 12th cheapest of 114 funds

BNDX vs SCHZ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BNDX 4.64%, better; SCHZ 4.27%
Payout (12M): BNDX $2.20; SCHZ $0.96
Last payment: BNDX $0.11; SCHZ $0.08
Ex-dividend: BNDX Oct 1, 2026; SCHZ Oct 1, 2026
Paid on: BNDX Oct 5, 2026; SCHZ Oct 7, 2026
Frequency: BNDX Monthly; SCHZ Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BNDXMonthly · 45 paymentsAll BNDX payments⁠

SCHZMonthly · 45 paymentsAll SCHZ payments⁠

BNDX vs SCHZ Risk

Fall from peak · 5 years

BNDX
SCHZ

Risk facts

VolatilityStd dev, 3 years: BNDX 4.2%, betterSCHZ 5.6%
Return per unit of riskSharpe ratio, 3 years: BNDX −0.01SCHZ 0.17, better
Worst fallMax drawdown, 5 years: BNDX −15.2%, betterSCHZ −17.5%
Market sensitivityBeta, 5 years: BNDX 0.62SCHZ 0.99; Market = 1

BNDX and SCHZ in the news

All news⁠

Head-to-Head
BND and BNDX are not substitutes. Own both, or own one market.
Oct 29, 2026BNDX
Best ETFs
Best bond ETFs: LQD, HYG and TLT cost more than the funds beside them
Updated Oct 2, 2026SCHZ
First-Year Review
Nuveen's NXUS grew to $4 billion as its target-date funds built the book
Sep 24, 2026BNDX

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BNDX vs SCHZ

In short

Stated mandate

Why people hold it