BIV vs. DFCF
Compare and contrast key facts about Vanguard Intermediate-Term Bond Index ETF (BIV) and Dimensional Core Fixed Income ETF (DFCF).
BIV and DFCF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BIV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. It was launched on Apr 3, 2007. DFCF is an actively managed fund by Dimensional. It was launched on Nov 15, 2021.
Performance
BIV vs. DFCF - Performance Comparison
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BIV vs. DFCF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | -0.23% | 8.52% | 1.57% | 6.07% | -13.21% | 0.70% |
DFCF Dimensional Core Fixed Income ETF | -0.10% | 7.89% | 1.86% | 6.94% | -14.48% | 0.23% |
Returns By Period
In the year-to-date period, BIV achieves a -0.23% return, which is significantly lower than DFCF's -0.10% return.
BIV
- 1D
- 0.32%
- 1M
- -2.03%
- YTD
- -0.23%
- 6M
- 0.87%
- 1Y
- 4.99%
- 3Y*
- 3.99%
- 5Y*
- 0.54%
- 10Y*
- 2.04%
DFCF
- 1D
- 0.33%
- 1M
- -1.93%
- YTD
- -0.10%
- 6M
- 0.91%
- 1Y
- 4.99%
- 3Y*
- 4.41%
- 5Y*
- —
- 10Y*
- —
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BIV vs. DFCF - Expense Ratio Comparison
BIV has a 0.03% expense ratio, which is lower than DFCF's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
BIV vs. DFCF — Risk / Return Rank
BIV
DFCF
BIV vs. DFCF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and Dimensional Core Fixed Income ETF (DFCF). 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.
| BIV | DFCF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.10 | 1.07 | +0.03 |
Sortino ratioReturn per unit of downside risk | 1.59 | 1.49 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.77 | +0.05 |
Martin ratioReturn relative to average drawdown | 5.87 | 5.55 | +0.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIV | DFCF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 1.07 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.02 | +0.63 |
Correlation
The correlation between BIV and DFCF is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BIV vs. DFCF - Dividend Comparison
BIV's dividend yield for the trailing twelve months is around 4.10%, less than DFCF's 4.50% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.10% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
DFCF Dimensional Core Fixed Income ETF | 4.50% | 4.48% | 4.61% | 4.51% | 3.27% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
BIV vs. DFCF - Drawdown Comparison
The maximum BIV drawdown since its inception was -18.95%, roughly equal to the maximum DFCF drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for BIV and DFCF.
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Drawdown Indicators
| BIV | DFCF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -19.56% | +0.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.90% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.95% | — | — |
Current DrawdownCurrent decline from peak | -2.03% | -1.93% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -3.40% | -8.30% | +4.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.93% | -0.04% |
Volatility
BIV vs. DFCF - Volatility Comparison
Vanguard Intermediate-Term Bond Index ETF (BIV) and Dimensional Core Fixed Income ETF (DFCF) have volatilities of 1.77% and 1.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIV | DFCF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.85% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 2.72% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 4.68% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.54% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 6.54% | -1.04% |