BIV vs. XLK
BIV (Vanguard Intermediate-Term Bond Index ETF) and XLK (State Street Technology Select Sector SPDR 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 XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. Both are passively managed. Over the past 10 years, BIV returned 1.83%/yr vs 25.48%/yr for XLK. At a correlation of -0.13, they often move in opposite directions. BIV charges 0.03%/yr vs 0.08%/yr for XLK.
Performance
BIV vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, BIV achieves a -0.13% return, which is significantly lower than XLK's 28.25% return. Over the past 10 years, BIV has underperformed XLK with an annualized return of 1.83%, while XLK has yielded a comparatively higher 25.48% annualized 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%
XLK
- 1D
- -4.14%
- 1M
- 2.23%
- YTD
- 28.25%
- 6M
- 26.51%
- 1Y
- 52.47%
- 3Y*
- 30.61%
- 5Y*
- 21.34%
- 10Y*
- 25.48%
BIV vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | -0.13% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
XLK State Street Technology Select Sector SPDR ETF | 28.25% | 24.61% | 21.63% | 56.02% | -27.73% | 34.74% | 43.62% | 49.86% | -1.68% | 34.26% |
Correlation
The correlation between BIV and XLK is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
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 | -0.13 |
The correlation between BIV and XLK shifts across timeframes, from -0.13 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BIV vs. XLK — Risk / Return Rank
BIV
XLK
BIV vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index ETF (BIV) and State Street Technology Select Sector SPDR ETF (XLK). 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 | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.38 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 3.31 | -2.10 |
| Martin ratioReturn relative to average drawdown | 3.38 | 10.56 | -7.18 |
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Drawdowns
BIV vs. XLK - Drawdown Comparison
The maximum BIV drawdown since its inception was -18.95%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for BIV and XLK.
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Drawdown Indicators
| BIV | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.95% | -82.05% | +63.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -15.92% | +12.74% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -25.66% | +19.59% |
Max Drawdown (5Y)Largest decline over 5 years | -18.74% | -33.56% | +14.82% |
Max Drawdown (10Y)Largest decline over 10 years | -18.95% | -33.56% | +14.61% |
Current DrawdownCurrent decline from peak | -1.93% | -6.96% | +5.03% |
Average DrawdownAverage peak-to-trough decline | -3.38% | -34.90% | +31.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 4.98% | -3.84% |
Volatility
BIV vs. XLK - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Bond Index ETF (BIV) is 1.23%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 12.51%. This indicates that BIV experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIV | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 12.51% | -11.28% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 19.70% | -16.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 23.48% | -19.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 25.37% | -18.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.50% | 24.71% | -19.21% |
BIV vs. XLK - Expense Ratio Comparison
BIV has a 0.03% expense ratio, which is lower than XLK's 0.08% 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. XLK - Dividend Comparison
BIV's dividend yield for the trailing twelve months is around 4.21%, more than XLK's 0.43% 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% |
XLK State Street Technology Select Sector SPDR ETF | 0.43% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Frequently Asked Questions
BIV and XLK have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (12.51%) compared to BIV (1.23%). In terms of maximum drawdown, BIV dropped -18.95% vs XLK's -82.05%.
On 10-year performance, XLK leads with 25.48% vs 1.83% 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.
Over the 10-year period, XLK has performed better with a 25.48% return vs 1.83%. 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 0.08% for XLK.
BIV has the higher dividend yield at 4.21%, compared with 0.43% for XLK.
BIV is categorized as Intermediate Core Bond, while XLK is Technology Equities. BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index, while XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.03% for BIV and 0.08% for XLK.
XLK currently has the higher Sharpe Ratio (2.25 vs 0.96), 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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