BIV vs. T
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 1.75%/yr vs 2.10%/yr for T. At a correlation of -0.07, they often move in opposite directions.
Performance
BIV vs. T - Performance Comparison
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Returns By Period
In the year-to-date period, BIV achieves a -0.40% return, which is significantly higher than T's -7.04% return. Over the past 10 years, BIV has underperformed T with an annualized return of 1.75%, while T has yielded a comparatively higher 2.10% annualized return.
BIV
- 1D
- -0.26%
- 1M
- -0.41%
- 6M
- -0.26%
- YTD
- -0.40%
- 1Y
- 3.43%
- 3Y*
- 4.27%
- 5Y*
- -0.08%
- 10Y*
- 1.75%
- ALL TIME*
- 3.79%
T
- 1D
- 0.64%
- 1M
- 2.62%
- 6M
- -2.84%
- YTD
- -7.04%
- 1Y
- -13.37%
- 3Y*
- 20.93%
- 5Y*
- 7.13%
- 10Y*
- 2.10%
- ALL TIME*
- 9.35%
BIV vs. T - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | -0.40% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
T AT&T Inc. | -7.04% | 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 -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
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 10, 2007 | -0.07 |
The correlation between BIV and T shifts across timeframes, from -0.07 (all time) to 0.15 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BIV vs. T — Risk / Return Rank
BIV
T
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.
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 | T | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.92 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | -0.46 | +1.55 |
| Martin ratioReturn relative to average drawdown | 2.80 | -1.03 | +3.83 |
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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.
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Drawdown Indicators
| BIV | T | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -64.15% | +45.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -28.89% | +25.71% |
Max Drawdown (3Y)Largest decline over 3 years | -5.55% | -28.89% | +23.34% |
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 DrawdownCurrent decline from peak | -2.20% | -21.57% | +19.37% |
Average DrawdownAverage peak-to-trough decline | -3.38% | -15.74% | +12.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 12.94% | -11.71% |
Volatility
BIV vs. T - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Bond Index ETF (BIV) is 1.18%, while AT&T Inc. (T) has a volatility of 9.59%. 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.
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Volatility by Period
| BIV | T | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 9.59% | -8.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 19.91% | -16.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 23.72% | -19.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.41% | 24.38% | -17.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 23.92% | -18.42% |
Dividends
BIV vs. T - Dividend Comparison
BIV's dividend yield for the trailing twelve months is around 4.26%, less than T's 6.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.26% | 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. | 6.58% | 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
BIV and T have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
T has higher volatility (9.59%) compared to BIV (1.18%). In terms of maximum drawdown, BIV dropped -18.95% vs T's -64.15%.
BIV currently has the higher Sharpe Ratio (0.85 vs -0.57), 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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