BIV vs. SHLD

Last updated Jun 24, 2026

BIV (Vanguard Intermediate-Term Bond Index ETF) and SHLD (Global X Defense Tech 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 SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. Both are passively managed. Over the past year, BIV returned 3.84% vs 4.03% for SHLD. At a 0.15 correlation, their price movements are largely independent. BIV charges 0.03%/yr vs 0.50%/yr for SHLD.

Performance

BIV vs. SHLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Bond Index ETF (BIV) and Global X Defense Tech ETF (SHLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIV achieves a -0.13% return, which is significantly higher than SHLD's -6.53% return.

BIV

• 1D: 0.10%
• 1M: 0.53%
• YTD: -0.13%
• 6M: 0.01%
• 1Y: 3.84%
• 3Y*: 4.38%
• 5Y*: 0.22%
• 10Y*: 1.83%

SHLD

• 1D: -0.05%
• 1M: -7.05%
• YTD: -6.53%
• 6M: -8.73%
• 1Y: 4.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BIV vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BIV Vanguard Intermediate-Term Bond Index ETF	-0.13%	8.52%	1.57%	5.23%
SHLD Global X Defense Tech ETF	-6.53%	74.16%	35.03%	12.89%

Correlation

The correlation between BIV and SHLD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	0.15

Return for Risk

BIV vs. SHLD — Risk / Return Rank

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

BIV

BIV Risk / Return Rank: 26
BIV Sharpe Ratio Rank: 28
BIV Sortino Ratio Rank: 27
BIV Omega Ratio Rank: 24
BIV Calmar Ratio Rank: 26
BIV Martin Ratio Rank: 26

SHLD

SHLD Risk / Return Rank: 11
SHLD Sharpe Ratio Rank: 11
SHLD Sortino Ratio Rank: 11
SHLD Omega Ratio Rank: 10
SHLD Calmar Ratio Rank: 10
SHLD Martin Ratio Rank: 11

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. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and Global X Defense Tech ETF (SHLD). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BIV	SHLD	Difference
Sharpe ratio: Return per unit of total volatility	0.96	0.16	+0.79
Sortino ratio: Return per unit of downside risk	1.43	0.41	+1.02
Omega ratio: Gain probability vs. loss probability	1.17	1.05	+0.12
Calmar ratio: Return relative to maximum drawdown	1.22	0.18	+1.03
Martin ratio: Return relative to average drawdown	3.38	0.46	+2.92

BIV vs. SHLD - Sharpe Ratio Comparison

The current BIV Sharpe Ratio is 0.96, which is higher than the SHLD Sharpe Ratio of 0.16. The chart below compares the historical Sharpe Ratios of BIV and SHLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIV vs. SHLD - Drawdown Comparison

The maximum BIV drawdown since its inception was -18.95%, smaller than the maximum SHLD drawdown of -22.38%. Use the drawdown chart below to compare losses from any high point for BIV and SHLD.

Drawdown Indicators

	BIV	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-18.95%	-22.38%	+3.43%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-22.38%	+19.20%
Max Drawdown (3Y) Largest decline over 3 years	-6.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.74%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.95%	—	—
Current Drawdown Current decline from peak	-1.93%	-22.38%	+20.45%
Average Drawdown Average peak-to-trough decline	-3.38%	-3.49%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	8.69%	-7.55%

Volatility

BIV vs. SHLD - Volatility Comparison

The current volatility for Vanguard Intermediate-Term Bond Index ETF (BIV) is 1.23%, while Global X Defense Tech ETF (SHLD) has a volatility of 9.04%. This indicates that BIV experiences smaller price fluctuations and is considered to be less risky than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIV	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	9.04%	-7.81%
Volatility (6M) Calculated over the trailing 6-month period	3.03%	20.19%	-17.16%
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	24.71%	-20.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.40%	21.33%	-14.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.50%	21.33%	-15.83%

BIV vs. SHLD - Expense Ratio Comparison

BIV has a 0.03% expense ratio, which is lower than SHLD's 0.50% expense ratio.

Dividends

BIV vs. SHLD - Dividend Comparison

BIV's dividend yield for the trailing twelve months is around 4.21%, more than SHLD's 0.59% 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%
SHLD Global X Defense Tech ETF	0.59%	0.55%	0.53%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BIV and SHLD in my portfolio?

BIV and SHLD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIV or SHLD?

SHLD has higher volatility (9.04%) compared to BIV (1.23%). In terms of maximum drawdown, BIV dropped -18.95% vs SHLD's -22.38%.

Which ETF is better, BIV or SHLD?

On 1-year performance, SHLD leads with 4.03% vs 3.84% for BIV. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIV or SHLD?

Over the 1-year period, SHLD has performed better with a 4.03% return vs 3.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIV or SHLD?

BIV is cheaper with a 0.03% expense ratio, compared with 0.50% for SHLD.

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

BIV has the higher dividend yield at 4.21%, compared with 0.59% for SHLD.

What is the main difference between BIV and SHLD?

BIV is categorized as Intermediate Core Bond, while SHLD is Aerospace & Defense. BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while SHLD tracks Global X Defense Tech Index. They also come from different issuers: Vanguard and Global X. Their fees differ too: 0.03% for BIV and 0.50% for SHLD.

Which has better risk-adjusted returns?

BIV currently has the higher Sharpe Ratio (0.96 vs 0.16), 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.