BBLB vs. BLV

Last updated Jun 4, 2026

BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and BLV (Vanguard Long-Term Bond ETF) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index. Both are passively managed. Over the past 3 years, BBLB returned -1.70%/yr vs 2.02%/yr for BLV. With a 0.98 correlation, they move nearly in lockstep. BBLB charges 0.04%/yr vs 0.03%/yr for BLV.

Performance

BBLB vs. BLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and Vanguard Long-Term Bond ETF (BLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBLB achieves a -0.36% return, which is significantly lower than BLV's 0.28% return.

BBLB

• 1D: -0.40%
• 1M: 0.77%
• YTD: -0.36%
• 6M: -1.96%
• 1Y: 5.09%
• 3Y*: -1.70%
• 5Y*: —
• 10Y*: —

BLV

• 1D: -0.31%
• 1M: 1.09%
• YTD: 0.28%
• 6M: -0.86%
• 1Y: 6.59%
• 3Y*: 2.02%
• 5Y*: -3.33%
• 10Y*: 0.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBLB vs. BLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	-0.36%	4.26%	-7.84%	-2.91%
BLV Vanguard Long-Term Bond ETF	0.28%	6.44%	-3.65%	1.54%

Correlation

The correlation between BBLB and BLV is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 21, 2023	0.98

The correlation between BBLB and BLV has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

BBLB vs. BLV - Sectors Allocation Comparison

Sectors	BBLB	BLV
Communication Services	99.9%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBLB vs. BLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBLB

BBLB Risk / Return Rank: 17
BBLB Sharpe Ratio Rank: 17
BBLB Sortino Ratio Rank: 16
BBLB Omega Ratio Rank: 16
BBLB Calmar Ratio Rank: 17
BBLB Martin Ratio Rank: 17

BLV

BLV Risk / Return Rank: 23
BLV Sharpe Ratio Rank: 23
BLV Sortino Ratio Rank: 22
BLV Omega Ratio Rank: 21
BLV Calmar Ratio Rank: 24
BLV Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBLB vs. BLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) and Vanguard Long-Term Bond ETF (BLV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BBLB	BLV	Difference
Sharpe ratio: Return per unit of total volatility	0.52	0.81	-0.29
Sortino ratio: Return per unit of downside risk	0.82	1.21	-0.39
Omega ratio: Gain probability vs. loss probability	1.09	1.14	-0.05
Calmar ratio: Return relative to maximum drawdown	0.68	1.15	-0.48
Martin ratio: Return relative to average drawdown	1.70	2.92	-1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBLB vs. BLV - Sharpe Ratio Comparison

The current BBLB Sharpe Ratio is 0.52, which is lower than the BLV Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of BBLB and BLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBLB	BLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	0.81	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.26	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	0.37	-0.54

Drawdowns

BBLB vs. BLV - Drawdown Comparison

The maximum BBLB drawdown since its inception was -21.06%, smaller than the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for BBLB and BLV.

Drawdown Indicators

	BBLB	BLV	Difference
Max Drawdown Largest peak-to-trough decline	-21.06%	-38.29%	+17.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-5.73%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-18.95%	-15.16%	-3.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.27%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.29%	—
Current Drawdown Current decline from peak	-8.93%	-24.14%	+15.21%
Average Drawdown Average peak-to-trough decline	-8.94%	-9.51%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.26%	+0.74%

Volatility

BBLB vs. BLV - Volatility Comparison

JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) has a higher volatility of 2.90% compared to Vanguard Long-Term Bond ETF (BLV) at 2.50%. This indicates that BBLB's price experiences larger fluctuations and is considered to be riskier than BLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBLB	BLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	2.50%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	6.55%	5.62%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	9.80%	8.15%	+1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.83%	12.97%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	11.98%	+1.85%

BBLB vs. BLV - Expense Ratio Comparison

BBLB has a 0.04% expense ratio, which is higher than BLV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BBLB vs. BLV - Dividend Comparison

BBLB's dividend yield for the trailing twelve months is around 5.00%, more than BLV's 4.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	5.00%	5.03%	5.34%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BLV Vanguard Long-Term Bond ETF	4.80%	4.67%	5.09%	4.06%	4.17%	3.37%	6.12%	3.57%	4.07%	3.63%	4.16%	4.37%

Frequently Asked Questions

Can I hold both BBLB and BLV in my portfolio?

With a correlation of 0.98, BBLB and BLV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBLB or BLV?

BBLB has higher volatility (2.90%) compared to BLV (2.50%). In terms of maximum drawdown, BBLB dropped -21.06% vs BLV's -38.29%.

Which ETF is better, BBLB or BLV?

On 3-year performance, BLV leads with 2.02% vs -1.70% for BBLB. On fees, BLV is cheaper at 0.03% per year. On volatility, BLV has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBLB or BLV?

Over the 3-year period, BLV has performed better with a 2.02% return vs -1.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBLB or BLV?

BLV is cheaper with a 0.03% expense ratio, compared with 0.04% for BBLB.

Which ETF pays a higher dividend yield, BBLB or BLV?

BBLB has the higher dividend yield at 5.00%, compared with 4.80% for BLV.

What is the main difference between BBLB and BLV?

BBLB is categorized as Government Bonds, while BLV is Long-Term Bond. BBLB tracks ICE U.S. Treasury 20+ Year Bond Index, while BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index. They also come from different issuers: JPMorgan and Vanguard. Their fees differ too: 0.04% for BBLB and 0.03% for BLV.

Which has better risk-adjusted returns?

BLV currently has the higher Sharpe Ratio (0.81 vs 0.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.