When holding the Vanguard Total International Bond (BNDX) to EUR Hedged ETF, how long should you stay invested to have high probability to achieve a positive return?

Over the selected period (~42 years), the longest duration with a negative return was 118 months (from August 2016 to May 2026).

This indicates that, within the same timeframe, any rolling period of 119 months or more has consistently resulted in a positive return.

Understanding this metric is crucial as it highlights the importance of a safe investment horizon. Knowing the minimum duration required to likely see positive returns helps investors set realistic expectations and reinforces the strategy of staying invested through market cycles. This approach can mitigate the emotional reactions to short-term market fluctuations and enhance the likelihood of achieving financial goals.

Previous vs subsequent Returns

Is there a correlation between past and future returns over all 10-year rolling periods?

The following chart illustrates the relationship between past returns (x-axis) and subsequent returns (y-axis).

Data points are aggregated to show occurrences, and you can zoom in by clicking or drawing over the desired area.

VANGUARD TOTAL INTERNATIONAL BOND (BNDX) TO EUR HEDGED ETF
Previous vs Next Returns - 10 Years annualized
Time Period: 1 July 1996 - 30 June 2026 (30 Years)
Time Period: 1 January 1985 - 30 June 2026 (~42 years)
30 Years
(1996/07 - 2026/06)
All Data
(1985/01 - 2026/06)

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As of Jun 30, 2026, the annualized return of the previous 10 years has been 0.10%.

Rolling Returns

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

VANGUARD TOTAL INTERNATIONAL BOND (BNDX) TO EUR HEDGED ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Time Period: 1 July 1996 - 30 June 2026 (30 Years)
Time Period: 1 January 1985 - 30 June 2026 (~42 years)
30 Years
(1996/07 - 2026/06)
All Data
(1985/01 - 2026/06)
Eurozone Inflation Adjusted:

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Rolling Period Analysis

By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the simulation settings.

VANGUARD TOTAL INTERNATIONAL BOND (BNDX) TO EUR HEDGED ETF
Rolling Returns Chart
Rolling Returns Chart - Inflation Adjusted
Time Period: 1 January 1985 - 30 June 2026 (~42 years)
Over Time
Histogram
Eurozone Inflation Adjusted:

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Swipe left to see all data
Worst Median Best Negative Periods
-14.08%
Jan 2022 - Dec 2022
+5.18% +28.70%
Mar 1985 - Feb 1986
16.02%
78 out of 487
-21.78%
Oct 2021 - Sep 2022
+2.93% +28.39%
May 1985 - Apr 1986
30.18%
147 out of 487
-8.60%
Jan 2021 - Dec 2022
+5.11% +23.14%
Aug 1991 - Jul 1993
9.26%
44 out of 475
-14.63%
Jan 2021 - Dec 2022
+3.49% +20.42%
Mar 1985 - Feb 1987
18.32%
87 out of 475
-5.44%
Nov 2020 - Oct 2023
+5.58% +22.33%
Nov 1990 - Oct 1993
8.21%
38 out of 463
-10.63%
Nov 2020 - Oct 2023
+3.70% +18.17%
Nov 1990 - Oct 1993
13.61%
63 out of 463
-3.72%
Oct 2019 - Sep 2023
+5.76% +18.51%
Feb 1990 - Jan 1994
10.64%
48 out of 451
-7.66%
Oct 2019 - Sep 2023
+3.89% +14.29%
Feb 1990 - Jan 1994
14.19%
64 out of 451
-1.69%
Jan 2018 - Dec 2022
+5.80% +15.86%
Jan 1989 - Dec 1993
11.62%
51 out of 439
-5.68%
Jan 2021 - Dec 2025
+3.98% +11.97%
Dec 1990 - Nov 1995
14.12%
62 out of 439
-1.57%
Oct 2016 - Sep 2022
+5.86% +14.30%
May 1990 - Apr 1996
11.01%
47 out of 427
-4.73%
May 2020 - Apr 2026
+3.93% +10.93%
Nov 1990 - Oct 1996
12.65%
54 out of 427
-1.28%
Oct 2016 - Sep 2023
+5.93% +13.16%
Jan 1989 - Dec 1995
6.75%
28 out of 415
-4.24%
Oct 2016 - Sep 2023
+3.87% +9.62%
Mar 1985 - Feb 1992
13.01%
54 out of 415
-0.51%
Mar 2015 - Feb 2023
+5.95% +13.30%
Mar 1985 - Feb 1993
5.21%
21 out of 403
-3.23%
Jul 2016 - Jun 2024
+3.92% +10.80%
Mar 1985 - Feb 1993
12.90%
52 out of 403
-0.08%
Nov 2014 - Oct 2023
+5.97% +13.56%
Jan 1985 - Dec 1993
1.02%
4 out of 391
-2.84%
Sep 2016 - Aug 2025
+4.03% +10.94%
Jan 1985 - Dec 1993
13.30%
52 out of 391
+0.10%
Jul 2016 - Jun 2026
+5.90% +11.73%
Mar 1985 - Feb 1995
0.00%
0 out of 379
-2.63%
Jul 2016 - Jun 2026
+4.07% +9.15%
Mar 1985 - Feb 1995
13.19%
50 out of 379
+0.37%
Apr 2015 - Mar 2026
+5.75% +12.27%
Jan 1985 - Dec 1995
0.00%
0 out of 367
-2.07%
Apr 2015 - Mar 2026
+3.94% +9.64%
Jan 1985 - Dec 1995
12.81%
47 out of 367
+0.92%
Jul 2014 - Jun 2026
+5.80% +11.54%
Jan 1985 - Dec 1996
0.00%
0 out of 355
-1.40%
Jul 2014 - Jun 2026
+3.93% +8.96%
Jan 1985 - Dec 1996
12.96%
46 out of 355
+0.86%
May 2013 - Apr 2026
+5.80% +10.37%
Mar 1985 - Feb 1998
0.00%
0 out of 343
-1.33%
May 2013 - Apr 2026
+3.82% +7.95%
Mar 1985 - Feb 1998
9.91%
34 out of 343
+1.41%
May 2012 - Apr 2026
+5.79% +10.62%
Mar 1985 - Feb 1999
0.00%
0 out of 331
-0.73%
Jul 2012 - Jun 2026
+3.87% +8.31%
Mar 1985 - Feb 1999
4.83%
16 out of 331
+1.98%
Jun 2011 - May 2026
+5.98% +9.71%
Mar 1985 - Feb 2000
0.00%
0 out of 319
-0.19%
Jun 2011 - May 2026
+3.93% +7.43%
Mar 1985 - Feb 2000
2.19%
7 out of 319
+2.17%
Jul 2010 - Jun 2026
+5.97% +9.69%
Mar 1985 - Feb 2001
0.00%
0 out of 307
-0.04%
Jul 2010 - Jun 2026
+3.96% +7.42%
Mar 1985 - Feb 2001
0.33%
1 out of 307
+2.94%
Nov 2006 - Oct 2023
+6.02% +9.66%
Mar 1985 - Feb 2002
0.00%
0 out of 295
+0.80%
Nov 2006 - Oct 2023
+4.04% +7.38%
Mar 1985 - Feb 2002
0.00%
0 out of 295
+2.85%
Oct 2005 - Sep 2023
+5.93% +9.81%
Mar 1985 - Feb 2003
0.00%
0 out of 283
+0.73%
Oct 2005 - Sep 2023
+3.91% +7.51%
Mar 1985 - Feb 2003
0.00%
0 out of 283
+2.94%
Nov 2004 - Oct 2023
+5.97% +9.48%
Mar 1985 - Feb 2004
0.00%
0 out of 271
+0.81%
Nov 2004 - Oct 2023
+4.10% +7.22%
Mar 1985 - Feb 2004
0.00%
0 out of 271
+2.98%
Sep 2005 - Aug 2025
+5.77% +9.25%
Mar 1985 - Feb 2005
0.00%
0 out of 259
+0.85%
Sep 2005 - Aug 2025
+3.95% +6.99%
Mar 1985 - Feb 2005
0.00%
0 out of 259
+3.64%
Apr 2001 - Mar 2026
+5.67% +8.37%
Mar 1985 - Feb 2010
0.00%
0 out of 199
+1.47%
Apr 2001 - Mar 2026
+3.87% +6.17%
Mar 1985 - Feb 2010
0.00%
0 out of 199
+3.76%
Jan 1996 - Dec 2025
+6.67% +8.12%
Mar 1985 - Feb 2015
0.00%
0 out of 139
+1.70%
Jan 1996 - Dec 2025
+4.58% +6.03%
Mar 1985 - Feb 2015
0.00%
0 out of 139
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