BIV vs. T

Last updated Jun 9, 2026

BIV (Vanguard Intermediate-Term Bond Index ETF) is Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while T (AT&T Inc.) is a stock. Over the past 10 years, BIV returned 1.83%/yr vs 2.86%/yr for T. At a correlation of -0.06, they often move in opposite directions.

Performance

BIV vs. T - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Intermediate-Term Bond Index ETF (BIV) and AT&T Inc. (T). 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 higher than T's -7.40% return. Over the past 10 years, BIV has underperformed T with an annualized return of 1.83%, while T has yielded a comparatively higher 2.86% annualized 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%

T

• 1D: -1.10%
• 1M: -10.57%
• YTD: -7.40%
• 6M: -7.40%
• 1Y: -16.38%
• 3Y*: 18.39%
• 5Y*: 6.60%
• 10Y*: 2.86%

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

BIV vs. T - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BIV Vanguard Intermediate-Term Bond Index ETF	-0.67%	8.52%	1.57%	6.07%	-13.21%	-2.40%	9.67%	10.34%	-0.19%	3.65%
T AT&T Inc.	-7.40%	13.97%	44.08%	-2.74%	5.76%	-8.09%	-21.37%	45.55%	-22.25%	-4.01%

Correlation

The correlation between BIV and T is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007	-0.06

The correlation between BIV and T shifts across timeframes, from -0.06 (all time) to 0.16 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BIV vs. T — 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

T

T Risk / Return Rank: 11
T Sharpe Ratio Rank: 11
T Sortino Ratio Rank: 12
T Omega Ratio Rank: 13
T Calmar Ratio Rank: 14
T Martin Ratio Rank: 4

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. T - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and AT&T Inc. (T). 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	T	Difference
Sharpe ratio: Return per unit of total volatility	1.18	-0.75	+1.93
Sortino ratio: Return per unit of downside risk	1.76	-0.98	+2.74
Omega ratio: Gain probability vs. loss probability	1.21	0.89	+0.32
Calmar ratio: Return relative to maximum drawdown	1.49	-0.75	+2.24
Martin ratio: Return relative to average drawdown	4.40	-1.59	+5.99
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. T - Sharpe Ratio Comparison

The current BIV Sharpe Ratio is 1.18, which is higher than the T Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of BIV and T, 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	T	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	-0.75	+1.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.28	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.12	+0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.38	+0.27

Drawdowns

BIV vs. T - Drawdown Comparison

The maximum BIV drawdown since its inception was -18.95%, smaller than the maximum T drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for BIV and T.

Drawdown Indicators

	BIV	T	Difference
Max Drawdown Largest peak-to-trough decline	-18.95%	-64.15%	+45.20%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-21.87%	+18.69%
Max Drawdown (3Y) Largest decline over 3 years	-6.07%	-21.87%	+15.80%
Max Drawdown (5Y) Largest decline over 5 years	-18.74%	-32.01%	+13.27%
Max Drawdown (10Y) Largest decline over 10 years	-18.95%	-42.35%	+23.40%
Current Drawdown Current decline from peak	-2.46%	-21.87%	+19.41%
Average Drawdown Average peak-to-trough decline	-3.39%	-15.72%	+12.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	10.34%	-9.27%

Volatility

BIV vs. T - Volatility Comparison

The current volatility for Vanguard Intermediate-Term Bond Index ETF (BIV) is 1.35%, while AT&T Inc. (T) has a volatility of 7.50%. This indicates that BIV experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIV	T	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	7.50%	-6.15%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	17.57%	-14.64%
Volatility (1Y) Calculated over the trailing 1-year period	4.00%	21.98%	-17.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.40%	23.97%	-17.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.51%	23.71%	-18.20%

Dividends

BIV vs. T - Dividend Comparison

BIV's dividend yield for the trailing twelve months is around 4.24%, less than T's 4.93% 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%
T AT&T Inc.	4.93%	4.47%	4.87%	6.62%	6.66%	8.46%	7.23%	5.22%	7.01%	5.04%	4.51%	5.46%

Frequently Asked Questions

Can I hold both BIV and T in my portfolio?

BIV and T have a correlation of 0.05, 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 T?

T has higher volatility (7.50%) compared to BIV (1.35%). In terms of maximum drawdown, BIV dropped -18.95% vs T's -64.15%.

Which has better risk-adjusted returns?

BIV currently has the higher Sharpe Ratio (1.18 vs -0.75), 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.