BIV vs. VTG
BIV (Vanguard Intermediate-Term Bond Index ETF) and VTG (Vanguard Total Treasury ETF) are both Intermediate Core Bond funds from Vanguard - BIV tracks the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index while VTG tracks the Bloomberg U.S. Treasury Total Return Unhedged USD Index. Both are passively managed. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.03% expense ratio.
Performance
BIV vs. VTG - Performance Comparison
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Returns By Period
In the year-to-date period, BIV achieves a -0.11% return, which is significantly lower than VTG's 0.01% return.
BIV
- 1D
- 0.13%
- 1M
- 0.04%
- YTD
- -0.11%
- 6M
- -0.10%
- 1Y
- 4.33%
- 3Y*
- 4.34%
- 5Y*
- 0.28%
- 10Y*
- 1.93%
VTG
- 1D
- 0.11%
- 1M
- 0.10%
- YTD
- 0.01%
- 6M
- 0.06%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BIV vs. VTG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | -0.11% | 3.62% |
VTG Vanguard Total Treasury ETF | 0.01% | 2.88% |
Correlation
The correlation between BIV and VTG 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 (All Time) Calculated using the full available price history since Jul 10, 2025 | 0.96 |
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Return for Risk
BIV vs. VTG — Risk / Return Rank
BIV
VTG
BIV vs. VTG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and Vanguard Total Treasury ETF (VTG). 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 | VTG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.19 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | — | — |
| Martin ratioReturn relative to average drawdown | 4.13 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIV | VTG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.04 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.91 | -0.27 |
Drawdowns
BIV vs. VTG - Drawdown Comparison
The maximum BIV drawdown since its inception was -18.95%, which is greater than VTG's maximum drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for BIV and VTG.
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Drawdown Indicators
| BIV | VTG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -2.89% | -16.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | — | — |
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 DrawdownCurrent decline from peak | -1.91% | -1.78% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -0.74% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | — | — |
Volatility
BIV vs. VTG - Volatility Comparison
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Volatility by Period
| BIV | VTG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 2.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 3.51% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 3.51% | +2.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 3.51% | +1.99% |
BIV vs. VTG - Expense Ratio Comparison
Both BIV and VTG have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
BIV vs. VTG - Dividend Comparison
BIV's dividend yield for the trailing twelve months is around 4.21%, more than VTG's 3.20% 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% |
VTG Vanguard Total Treasury ETF | 3.20% | 1.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, BIV and VTG 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.
Both ETFs have the same 0.03% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BIV and VTG have the same expense ratio: 0.03% per year.
BIV has the higher dividend yield at 4.21%, compared with 3.20% for VTG.
BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while VTG tracks Bloomberg U.S. Treasury Total Return Unhedged USD Index.
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