ETF Versus

BNDX vs XLI

Vanguard Total International Bond Index Fund vs State Street Industrial Select Sector SPDR ETF

Last updated: 2026-04-02

BNDX Vanguard

Vanguard Total International Bond Index Fund (BNDX) is an exchange-traded fund issued by Vanguard that provides exposure to international bond securities. It charges a low expense ratio of 0.07%. The fund offers a high dividend yield of 4.46%. Launched in 2013, the fund has a 13-year track record.

AUM: $115.4B ER: 0.07% Yield: 4.46% Since: 2013-06-04
XLI State Street

State Street Industrial Select Sector SPDR ETF (XLI) is an exchange-traded fund issued by State Street that provides exposure to us sector - industrials securities. It charges a low expense ratio of 0.09%. The fund offers a moderate dividend yield of 1.25%. Launched in 1998, the fund has a 28-year track record.

AUM: $25.6B ER: 0.09% Yield: 1.25% Since: 1998-12-22

Quick Verdict

BNDX has a slightly lower expense ratio (0.07% vs 0.09%), saving about $40 per $10,000 over 10 years. Over the past year, XLI has significantly outperformed with a 23.4% return vs -1.7%. Income investors may prefer BNDX for its higher yield (4.5% vs 1.3%).

Key Metrics

Metric BNDX XLI
Expense Ratio 0.07% 0.09%
Dividend Yield 4.5% 1.3%
Fund Family Vanguard State Street
Category International Bond US Sector - Industrials

Performance Chart

Indexed to 100 at start (5-year comparison)

80 100 120 140 160 180 2021-04 2022-06 2023-10 2024-12 2026-04
BNDX -15.9%
XLI +64.2%

Performance Comparison

Period BNDX XLI Difference
1 Month -1.70% -6.38% +4.68%
3 Months -0.64% +3.96% -4.60%
6 Months -2.64% +5.87% -8.51%
YTD -0.64% +3.96% -4.60%
1 Year -1.68% +23.44% -25.12%
3 Years -1.90% +62.04% -63.94%
5 Years -15.91% +64.24% -80.15%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period BNDX Fees XLI Fees You Save
$10,000 10 years $140 $179 $40
$10,000 20 years $600 $771 $170
$10,000 30 years $1,938 $2,486 $547
$50,000 10 years $698 $896 $199
$50,000 30 years $9,692 $12,428 $2,736
$100,000 30 years $19,383 $24,855 $5,472

Risk Metrics

Based on 5 years of daily returns

Metric BNDX XLI
Annualized Volatility 5.3% 17.2%
Max Drawdown -19.1% -22.7%
Sharpe Ratio -1.48 0.40

Dividend Comparison

Metric BNDX XLI
Annual Dividend (per share) $2.14 $2.05
Dividend Yield 4.46% 1.25%
Distribution Frequency Monthly Quarterly

Top Holdings

0 of top 4 holdings overlap (0% overlap in top holdings)

BNDX Top Holdings

NameWeight
Vanguard Cmt Funds-Vanguard Market Liquidity Fund231.22%
United Kingdom Gilt32.33%
Bundesrepublik Deutschland Bundesanleihe26.04%
French Republic Government Bond OAT25.14%

XLI Top Holdings

NameWeight
General Electric Co680.74%
Caterpillar Inc561.69%
RTX Corp515.19%
GE Vernova Inc371.52%
Boeing Co/The356.20%
Uber Technologies Inc355.71%
Union Pacific Corp287.47%
Honeywell International Inc259.50%
Eaton Corp PLC259.19%
Deere & Co245.23%

Which One Should You Choose?

Choose BNDX if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose XLI if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose BNDX if...

you prioritize dividend income and want higher regular distributions from your portfolio.

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