BIV vs. SCHI

Last updated Jun 9, 2026

BIV (Vanguard Intermediate-Term Bond Index ETF) and SCHI (Schwab 5-10 Year Corporate Bond ETF) are both exchange-traded funds - BIV is a Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while SCHI is a Corporate Bonds fund tracking the Bloomberg US Aggregate Credit - Corporate (5-10 Y). Both are passively managed. Over the past 5 years, BIV returned 0.08%/yr vs 1.08%/yr for SCHI. Their correlation of 0.94 suggests significant overlap in exposure. BIV charges 0.03%/yr vs 0.05%/yr for SCHI.

Performance

BIV vs. SCHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Bond Index ETF (BIV) and Schwab 5-10 Year Corporate Bond ETF (SCHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIV achieves a -0.67% return, which is significantly lower than SCHI's -0.25% return.

BIV

• 1D: -0.05%
• 1M: -0.94%
• YTD: -0.67%
• 6M: -0.33%
• 1Y: 4.70%
• 3Y*: 4.27%
• 5Y*: 0.08%
• 10Y*: 1.83%

SCHI

• 1D: -0.04%
• 1M: -0.74%
• YTD: -0.25%
• 6M: 0.06%
• 1Y: 6.09%
• 3Y*: 6.07%
• 5Y*: 1.08%
• 10Y*: —

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

BIV vs. SCHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BIV Vanguard Intermediate-Term Bond Index ETF	-0.67%	8.52%	1.57%	6.07%	-13.21%	-2.40%	9.67%	-0.28%
SCHI Schwab 5-10 Year Corporate Bond ETF	-0.25%	9.47%	3.32%	8.97%	-14.06%	-1.85%	9.74%	1.00%

Correlation

The correlation between BIV and SCHI is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 11, 2019	0.94

The correlation between BIV and SCHI has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

BIV vs. SCHI — Risk / Return Rank

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

BIV

BIV Risk / Return Rank: 34
BIV Sharpe Ratio Rank: 36
BIV Sortino Ratio Rank: 37
BIV Omega Ratio Rank: 33
BIV Calmar Ratio Rank: 33
BIV Martin Ratio Rank: 32

SCHI

SCHI Risk / Return Rank: 46
SCHI Sharpe Ratio Rank: 47
SCHI Sortino Ratio Rank: 49
SCHI Omega Ratio Rank: 45
SCHI Calmar Ratio Rank: 45
SCHI Martin Ratio Rank: 45

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.

BIV vs. SCHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and Schwab 5-10 Year Corporate Bond ETF (SCHI). 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	SCHI	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.49	-0.30
Sortino ratio: Return per unit of downside risk	1.76	2.19	-0.43
Omega ratio: Gain probability vs. loss probability	1.21	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	1.49	2.03	-0.54
Martin ratio: Return relative to average drawdown	4.40	6.77	-2.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BIV vs. SCHI - Sharpe Ratio Comparison

The current BIV Sharpe Ratio is 1.18, which is comparable to the SCHI Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of BIV and SCHI, 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

	BIV	SCHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.49	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.16	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.29	+0.35

Drawdowns

BIV vs. SCHI - Drawdown Comparison

The maximum BIV drawdown since its inception was -18.95%, smaller than the maximum SCHI drawdown of -20.67%. Use the drawdown chart below to compare losses from any high point for BIV and SCHI.

Drawdown Indicators

	BIV	SCHI	Difference
Max Drawdown Largest peak-to-trough decline	-18.95%	-20.67%	+1.72%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-3.01%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-6.07%	-6.14%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-18.74%	-20.67%	+1.93%
Max Drawdown (10Y) Largest decline over 10 years	-18.95%	—	—
Current Drawdown Current decline from peak	-2.46%	-1.80%	-0.66%
Average Drawdown Average peak-to-trough decline	-3.39%	-5.70%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	0.90%	+0.17%

Volatility

BIV vs. SCHI - Volatility Comparison

Vanguard Intermediate-Term Bond Index ETF (BIV) and Schwab 5-10 Year Corporate Bond ETF (SCHI) have volatilities of 1.35% and 1.33%, 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.

Volatility by Period

	BIV	SCHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.33%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	3.14%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	4.12%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.40%	6.66%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.51%	7.40%	-1.89%

BIV vs. SCHI - Expense Ratio Comparison

BIV has a 0.03% expense ratio, which is lower than SCHI's 0.05% 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. SCHI - Dividend Comparison

BIV's dividend yield for the trailing twelve months is around 4.24%, less than SCHI's 5.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIV Vanguard Intermediate-Term Bond Index ETF	4.24%	4.01%	3.79%	3.09%	2.41%	3.42%	2.95%	2.75%	2.88%	2.69%	3.01%	3.02%
SCHI Schwab 5-10 Year Corporate Bond ETF	5.07%	4.99%	5.11%	4.27%	3.10%	1.93%	2.31%	0.53%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIV and SCHI in my portfolio?

With a correlation of 0.96, BIV and SCHI 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, BIV or SCHI?

BIV has higher volatility (1.35%) compared to SCHI (1.33%). In terms of maximum drawdown, BIV dropped -18.95% vs SCHI's -20.67%.

Which ETF is better, BIV or SCHI?

On 5-year performance, SCHI leads with 1.08% vs 0.08% for BIV. On fees, BIV is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIV or SCHI?

Over the 5-year period, SCHI has performed better with a 1.08% return vs 0.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIV or SCHI?

BIV is cheaper with a 0.03% expense ratio, compared with 0.05% for SCHI.

Which ETF pays a higher dividend yield, BIV or SCHI?

SCHI has the higher dividend yield at 5.07%, compared with 4.24% for BIV.

What is the main difference between BIV and SCHI?

BIV is categorized as Intermediate Core Bond, while SCHI is Corporate Bonds. BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while SCHI tracks Bloomberg US Aggregate Credit - Corporate (5-10 Y). They also come from different issuers: Vanguard and Charles Schwab. Their fees differ too: 0.03% for BIV and 0.05% for SCHI.

Which has better risk-adjusted returns?

SCHI currently has the higher Sharpe Ratio (1.49 vs 1.18), 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.