BIV vs. DFTEX
BIV (Vanguard Intermediate-Term Bond Index ETF) and DFTEX (DFA Intermediate-Term Extended Quality Portfolio Fund) are both funds - BIV is a Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while DFTEX is a Corporate Bonds fund managed by Dimensional. Over the past 10 years, BIV returned 1.93%/yr vs 2.37%/yr for DFTEX. Their correlation of 0.93 suggests significant overlap in exposure. BIV charges 0.03%/yr vs 0.20%/yr for DFTEX.
Performance
BIV vs. DFTEX - Performance Comparison
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Returns By Period
In the year-to-date period, BIV achieves a -0.11% return, which is significantly lower than DFTEX's 0.77% return. Over the past 10 years, BIV has underperformed DFTEX with an annualized return of 1.93%, while DFTEX has yielded a comparatively higher 2.37% annualized return.
BIV
- 1D
- 0.13%
- 1M
- 0.04%
- YTD
- -0.11%
- 6M
- -0.10%
- 1Y
- 4.33%
- 3Y*
- 4.34%
- 5Y*
- 0.28%
- 10Y*
- 1.93%
DFTEX
- 1D
- -0.21%
- 1M
- 0.48%
- YTD
- 0.77%
- 6M
- 0.77%
- 1Y
- 5.78%
- 3Y*
- 5.87%
- 5Y*
- 0.67%
- 10Y*
- 2.37%
BIV vs. DFTEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | -0.11% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | 0.77% | 7.70% | 2.89% | 9.61% | -16.28% | -2.05% | 10.26% | 13.38% | -2.10% | 5.20% |
Correlation
The correlation between BIV and DFTEX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2012 | 0.93 |
The correlation between BIV and DFTEX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
BIV vs. DFTEX — Risk / Return Rank
BIV
DFTEX
BIV vs. DFTEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX). 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 | DFTEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.28 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 2.04 | -0.67 |
| Martin ratioReturn relative to average drawdown | 4.13 | 6.71 | -2.58 |
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 | DFTEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.56 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | 0.10 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.40 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.48 | +0.17 |
Drawdowns
BIV vs. DFTEX - Drawdown Comparison
The maximum BIV drawdown since its inception was -18.95%, smaller than the maximum DFTEX drawdown of -22.83%. Use the drawdown chart below to compare losses from any high point for BIV and DFTEX.
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Drawdown Indicators
| BIV | DFTEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -22.83% | +3.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -3.22% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -5.38% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -22.83% | +4.09% |
Max Drawdown (10Y)Largest decline over 10 years | -18.95% | -22.83% | +3.88% |
Current DrawdownCurrent decline from peak | -1.91% | -1.04% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -4.45% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.97% | +0.08% |
Volatility
BIV vs. DFTEX - Volatility Comparison
Vanguard Intermediate-Term Bond Index ETF (BIV) and DFA Intermediate-Term Extended Quality Portfolio Fund (DFTEX) have volatilities of 1.36% and 1.37%, 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 | DFTEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.37% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | 3.06% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 4.20% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 6.71% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 5.89% | -0.39% |
BIV vs. DFTEX - Expense Ratio Comparison
BIV has a 0.03% expense ratio, which is lower than DFTEX's 0.20% 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%.
Dividends
BIV vs. DFTEX - Dividend Comparison
BIV's dividend yield for the trailing twelve months is around 4.21%, less than DFTEX's 4.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.21% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
DFTEX DFA Intermediate-Term Extended Quality Portfolio Fund | 4.94% | 4.30% | 4.27% | 3.79% | 3.25% | 4.12% | 3.31% | 3.06% | 3.24% | 2.91% | 2.88% | 3.90% |
Frequently Asked Questions
With a correlation of 0.91, BIV and DFTEX 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.
DFTEX has higher volatility (1.37%) compared to BIV (1.36%). In terms of maximum drawdown, BIV dropped -18.95% vs DFTEX's -22.83%.
DFTEX currently has the higher Sharpe Ratio (1.56 vs 1.08), 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.
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