BIV vs. VHT
BIV (Vanguard Intermediate-Term Bond Index ETF) and VHT (Vanguard Health Care 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 VHT is a Health & Biotech Equities fund tracking the MSCI US Investable Market Health Care 25/50 Index. Both are passively managed. Over the past 10 years, BIV returned 1.89%/yr vs 9.87%/yr for VHT. At a correlation of -0.10, they often move in opposite directions. BIV charges 0.03%/yr vs 0.09%/yr for VHT.
Performance
BIV vs. VHT - Performance Comparison
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Returns By Period
In the year-to-date period, BIV achieves a -0.06% return, which is significantly higher than VHT's -0.11% return. Over the past 10 years, BIV has underperformed VHT with an annualized return of 1.89%, while VHT has yielded a comparatively higher 9.87% annualized return.
BIV
- 1D
- -0.13%
- 1M
- 0.26%
- YTD
- -0.06%
- 6M
- 0.31%
- 1Y
- 4.61%
- 3Y*
- 4.62%
- 5Y*
- 0.16%
- 10Y*
- 1.89%
VHT
- 1D
- -0.12%
- 1M
- 4.51%
- YTD
- -0.11%
- 6M
- 0.45%
- 1Y
- 16.49%
- 3Y*
- 7.19%
- 5Y*
- 4.78%
- 10Y*
- 9.87%
BIV vs. VHT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | -0.06% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
VHT Vanguard Health Care ETF | -0.11% | 15.46% | 2.66% | 2.52% | -5.60% | 20.57% | 18.29% | 21.87% | 5.58% | 23.26% |
Correlation
The correlation between BIV and VHT is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | -0.10 |
The correlation between BIV and VHT shifts across timeframes, from -0.10 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BIV vs. VHT — Risk / Return Rank
BIV
VHT
BIV vs. VHT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and Vanguard Health Care ETF (VHT). 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 | VHT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.53 | -0.18 |
| Martin ratioReturn relative to average drawdown | 3.90 | 3.81 | +0.09 |
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Drawdowns
BIV vs. VHT - Drawdown Comparison
The maximum BIV drawdown since its inception was -18.95%, smaller than the maximum VHT drawdown of -39.12%. Use the drawdown chart below to compare losses from any high point for BIV and VHT.
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Drawdown Indicators
| BIV | VHT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -39.12% | +20.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -10.40% | +7.22% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -16.91% | +10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -17.71% | -1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -18.95% | -28.85% | +9.90% |
Current DrawdownCurrent decline from peak | -1.86% | -3.28% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -5.99% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 4.19% | -3.09% |
Volatility
BIV vs. VHT - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Bond Index ETF (BIV) is 1.45%, while Vanguard Health Care ETF (VHT) has a volatility of 4.88%. This indicates that BIV experiences smaller price fluctuations and is considered to be less risky than VHT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIV | VHT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 4.88% | -3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | 10.46% | -7.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 14.70% | -10.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.41% | 15.01% | -8.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.51% | 16.97% | -11.46% |
BIV vs. VHT - Expense Ratio Comparison
BIV has a 0.03% expense ratio, which is lower than VHT's 0.09% 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. VHT - Dividend Comparison
BIV's dividend yield for the trailing twelve months is around 4.21%, more than VHT's 1.64% 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% |
VHT Vanguard Health Care ETF | 1.64% | 1.61% | 1.53% | 1.36% | 1.33% | 1.14% | 1.21% | 1.89% | 1.38% | 1.31% | 1.45% | 1.22% |
Frequently Asked Questions
BIV and VHT have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VHT has higher volatility (4.88%) compared to BIV (1.45%). In terms of maximum drawdown, BIV dropped -18.95% vs VHT's -39.12%.
On 10-year performance, VHT leads with 9.87% vs 1.89% for BIV. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VHT has performed better with a 9.87% return vs 1.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIV is cheaper with a 0.03% expense ratio, compared with 0.09% for VHT.
BIV has the higher dividend yield at 4.21%, compared with 1.64% for VHT.
BIV is categorized as Intermediate Core Bond, while VHT is Health & Biotech Equities. BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while VHT tracks MSCI US Investable Market Health Care 25/50 Index. Their fees differ too: 0.03% for BIV and 0.09% for VHT.
VHT currently has the higher Sharpe Ratio (1.09 vs 1.07), 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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