Defensive Ballast
Bond, cash, and commodity funds ranked on what they are actually bought for: low drawdown, low volatility, and low cost.
| Rank | Fund | 3M | 1Y | Vol | Max DD | vs 200d | ER | Score |
|---|---|---|---|---|---|---|---|---|
| #1 | ||||||||
| #2 | ||||||||
| #3 | BND Vanguard Total Bond Market ETF | -3.1% | -2.2% | 3.9% | -4.5% | -2.8% | 0.03% | 0.394 |
| #4 | AGG iShares Core US Aggregate Bond ETF | -3.1% | -2.2% | 3.9% | -4.6% | -2.9% | 0.03% | 0.388 |
| #5 | TIP iShares TIPS Bond ETF | -3.2% | -2.3% | 3.5% | -3.9% | -2.8% | 0.18% | 0.222 |
| #6 | LQD iShares iBoxx Inv Grade Corp Bond ETF | -4.4% | -4.4% | 5.5% | -6.0% | -4.1% | 0.14% | 0.152 |
| #7 | IEF iShares 7-10 Year Treasury Bond ETF | -4.1% | -4.2% | 4.8% | -6.8% | -4.2% | 0.15% | 0.138 |
| #8 | HYG iShares iBoxx High Yield Corp Bond ETF | -2.0% | 1.0% | 3.9% | -2.9% | -1.1% | 0.49% | -0.056 |
| #9 | TLT iShares 20+ Year Treasury Bond ETF | -7.7% | -9.8% | 9.4% | -12.4% | -7.8% | 0.15% | -0.174 |
| #10 | IAU iShares Gold Trust | 0.6% | 7.1% | 29.3% | -26.4% | -8.7% | 0.25% | -0.410 |
What the screen did this week
The Defensive Ballast screen ranked 12 eligible funds as of 2026-10-05. Bond, cash, and commodity funds ranked on what they are actually bought for: low drawdown, low volatility, and low cost.
The composite is a weighted blend of cross-sectional z-scores: 1-year max drawdown (30%, higher better); 1-year volatility (25%, lower better); 1-year return (25%, higher better); expense ratio (20%, lower better). Every fund is scored against the others in its universe on the same date, so a score is a statement about relative standing that week, not a forecast.
The visible ranking
#3 BND, Vanguard Total Bond Market ETF. 3-month -3.1%, 1-year -2.2%, volatility 3.9%, worst drawdown -4.5%, expense ratio 0.03%. Composite 0.394.
#4 AGG, iShares Core US Aggregate Bond ETF. 3-month -3.1%, 1-year -2.2%, volatility 3.9%, worst drawdown -4.6%, expense ratio 0.03%. Composite 0.388.
#5 TIP, iShares TIPS Bond ETF. 3-month -3.2%, 1-year -2.3%, volatility 3.5%, worst drawdown -3.9%, expense ratio 0.18%. Composite 0.222.
#6 LQD, iShares iBoxx Inv Grade Corp Bond ETF. 3-month -4.4%, 1-year -4.4%, volatility 5.5%, worst drawdown -6.0%, expense ratio 0.14%. Composite 0.152.
#7 IEF, iShares 7-10 Year Treasury Bond ETF. 3-month -4.1%, 1-year -4.2%, volatility 4.8%, worst drawdown -6.8%, expense ratio 0.15%. Composite 0.138.
#8 HYG, iShares iBoxx High Yield Corp Bond ETF. 3-month -2.0%, 1-year 1.0%, volatility 3.9%, worst drawdown -2.9%, expense ratio 0.49%. Composite -0.056.
#9 TLT, iShares 20+ Year Treasury Bond ETF. 3-month -7.7%, 1-year -9.8%, volatility 9.4%, worst drawdown -12.4%, expense ratio 0.15%. Composite -0.174.
#10 IAU, iShares Gold Trust. 3-month 0.6%, 1-year 7.1%, volatility 29.3%, worst drawdown -26.4%, expense ratio 0.25%. Composite -0.410.
What changed since 2026-10-02
No fund in the top 15 moved more than one place, the ranking was essentially unchanged. The screen re-ranks from scratch every week, so a move reflects a change in relative standing, not a decision by anyone.
What moved the numbers
At rank 3, BND scored 0.394. Its largest single contribution came from expense ratio, and its biggest drag from 1-year return. At the other end, SLV finished last of 12 with a composite of -1.103.
Every fund in the universe cleared the gates this week.
How to read this
This is a rules-based screen published on a fixed schedule. It is the same for every reader, it is not tailored to anyone’s circumstances, and it is not a recommendation to buy or sell. Rankings are computed from price history alone. Past performance does not predict future results.
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