BLV vs. ANGL

Last updated Jun 4, 2026

BLV (Vanguard Long-Term Bond ETF) and ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) are both exchange-traded funds - BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index, while ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index. Both are passively managed. Over the past 10 years, BLV returned 0.99%/yr vs 6.27%/yr for ANGL. At a 0.23 correlation, their price movements are largely independent. BLV charges 0.03%/yr vs 0.35%/yr for ANGL.

Performance

BLV vs. ANGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Bond ETF (BLV) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLV achieves a 0.28% return, which is significantly lower than ANGL's 1.55% return. Over the past 10 years, BLV has underperformed ANGL with an annualized return of 0.99%, while ANGL has yielded a comparatively higher 6.27% annualized return.

BLV

• 1D: -0.31%
• 1M: 1.09%
• YTD: 0.28%
• 6M: -0.86%
• 1Y: 6.59%
• 3Y*: 2.02%
• 5Y*: -3.33%
• 10Y*: 0.99%

ANGL

• 1D: -0.21%
• 1M: 0.49%
• YTD: 1.55%
• 6M: 1.64%
• 1Y: 8.16%
• 3Y*: 8.46%
• 5Y*: 3.44%
• 10Y*: 6.27%

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

BLV vs. ANGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLV Vanguard Long-Term Bond ETF	0.28%	6.44%	-3.65%	7.35%	-26.95%	-2.89%	16.13%	18.99%	-4.17%	10.74%
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF	1.55%	9.04%	6.06%	12.52%	-14.26%	6.84%	13.20%	18.06%	-5.84%	9.71%

Correlation

The correlation between BLV and ANGL is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Apr 12, 2012	0.23

Over the past year, BLV and ANGL have become more correlated (0.60) than their long-term average of 0.23, meaning their price movements have been converging.

BLV vs. ANGL - Sectors Allocation Comparison

Sectors	BLV	ANGL
Financial Services	0.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BLV vs. ANGL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BLV

BLV Risk / Return Rank: 23
BLV Sharpe Ratio Rank: 23
BLV Sortino Ratio Rank: 22
BLV Omega Ratio Rank: 21
BLV Calmar Ratio Rank: 24
BLV Martin Ratio Rank: 23

ANGL

ANGL Risk / Return Rank: 52
ANGL Sharpe Ratio Rank: 55
ANGL Sortino Ratio Rank: 56
ANGL Omega Ratio Rank: 60
ANGL Calmar Ratio Rank: 41
ANGL Martin Ratio Rank: 50

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.

BLV vs. ANGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). 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.

	BLV	ANGL	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.90	-1.09
Sortino ratio: Return per unit of downside risk	1.21	2.73	-1.51
Omega ratio: Gain probability vs. loss probability	1.14	1.37	-0.23
Calmar ratio: Return relative to maximum drawdown	1.15	2.02	-0.87
Martin ratio: Return relative to average drawdown	2.92	8.49	-5.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BLV vs. ANGL - Sharpe Ratio Comparison

The current BLV Sharpe Ratio is 0.81, which is lower than the ANGL Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of BLV and ANGL, 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

	BLV	ANGL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.90	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	0.45	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	0.68	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.74	-0.37

Drawdowns

BLV vs. ANGL - Drawdown Comparison

The maximum BLV drawdown since its inception was -38.29%, which is greater than ANGL's maximum drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for BLV and ANGL.

Drawdown Indicators

	BLV	ANGL	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-29.31%	-8.98%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-4.05%	-1.68%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-5.48%	-9.68%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	-19.25%	-17.02%
Max Drawdown (10Y) Largest decline over 10 years	-38.29%	-29.31%	-8.98%
Current Drawdown Current decline from peak	-24.14%	-0.30%	-23.84%
Average Drawdown Average peak-to-trough decline	-9.51%	-3.30%	-6.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	0.96%	+1.30%

Volatility

BLV vs. ANGL - Volatility Comparison

Vanguard Long-Term Bond ETF (BLV) has a higher volatility of 2.50% compared to VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) at 1.37%. This indicates that BLV's price experiences larger fluctuations and is considered to be riskier than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLV	ANGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	1.37%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	5.62%	3.46%	+2.16%
Volatility (1Y) Calculated over the trailing 1-year period	8.15%	4.31%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	7.63%	+5.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.98%	9.28%	+2.70%

BLV vs. ANGL - Expense Ratio Comparison

BLV has a 0.03% expense ratio, which is lower than ANGL's 0.35% expense ratio.

Dividends

BLV vs. ANGL - Dividend Comparison

BLV's dividend yield for the trailing twelve months is around 4.80%, less than ANGL's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF	6.37%	6.20%	6.29%	5.27%	4.72%	3.90%	4.67%	5.19%	5.99%	5.25%	5.34%	5.81%
BLV Vanguard Long-Term Bond ETF	4.80%	4.67%	5.09%	4.06%	4.17%	3.37%	6.12%	3.57%	4.07%	3.63%	4.16%	4.37%

Frequently Asked Questions

Can I hold both BLV and ANGL in my portfolio?

BLV and ANGL have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLV or ANGL?

BLV has higher volatility (2.50%) compared to ANGL (1.37%). In terms of maximum drawdown, BLV dropped -38.29% vs ANGL's -29.31%.

Which ETF is better, BLV or ANGL?

On 10-year performance, ANGL leads with 6.27% vs 0.99% for BLV. On fees, BLV is cheaper at 0.03% per year. On volatility, ANGL has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLV or ANGL?

Over the 10-year period, ANGL has performed better with a 6.27% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLV or ANGL?

BLV is cheaper with a 0.03% expense ratio, compared with 0.35% for ANGL.

Which ETF pays a higher dividend yield, BLV or ANGL?

ANGL has the higher dividend yield at 6.37%, compared with 4.80% for BLV.

What is the main difference between BLV and ANGL?

BLV is categorized as Long-Term Bond, while ANGL is High Yield Bonds. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while ANGL tracks BofA Merrill Lynch US Fallen Angel High Yield Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.03% for BLV and 0.35% for ANGL.

Which has better risk-adjusted returns?

ANGL currently has the higher Sharpe Ratio (1.90 vs 0.81), 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.