BLV vs. BBLB

Last updated Jun 4, 2026

BLV (Vanguard Long-Term Bond ETF) and BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year 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 BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 3 years, BLV returned 2.02%/yr vs -1.70%/yr for BBLB. With a 0.98 correlation, they move nearly in lockstep. BLV charges 0.03%/yr vs 0.04%/yr for BBLB.

Performance

BLV vs. BBLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Bond ETF (BLV) and JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB). 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 higher than BBLB's -0.36% 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%

BBLB

• 1D: -0.40%
• 1M: 0.77%
• YTD: -0.36%
• 6M: -1.96%
• 1Y: 5.09%
• 3Y*: -1.70%
• 5Y*: —
• 10Y*: —

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

BLV vs. BBLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BLV Vanguard Long-Term Bond ETF	0.28%	6.44%	-3.65%	1.54%
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	-0.36%	4.26%	-7.84%	-2.91%

Correlation

The correlation between BLV and BBLB is 0.98 - 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 (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (All Time) Calculated using the full available price history since Apr 21, 2023	0.98

The correlation between BLV and BBLB has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

BLV vs. BBLB - Sectors Allocation Comparison

Sectors	BLV	BBLB
Financial Services	0.0%	-
Basic Materials	-	-
Communication Services	-	99.9%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BLV vs. BBLB — 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

BBLB

BBLB Risk / Return Rank: 17
BBLB Sharpe Ratio Rank: 17
BBLB Sortino Ratio Rank: 16
BBLB Omega Ratio Rank: 16
BBLB Calmar Ratio Rank: 17
BBLB Martin Ratio Rank: 17

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. BBLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB). 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	BBLB	Difference
Sharpe ratio: Return per unit of total volatility	0.81	0.52	+0.29
Sortino ratio: Return per unit of downside risk	1.21	0.82	+0.39
Omega ratio: Gain probability vs. loss probability	1.14	1.09	+0.05
Calmar ratio: Return relative to maximum drawdown	1.15	0.68	+0.48
Martin ratio: Return relative to average drawdown	2.92	1.70	+1.22
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. BBLB - Sharpe Ratio Comparison

The current BLV Sharpe Ratio is 0.81, which is higher than the BBLB Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of BLV and BBLB, 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	BBLB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	0.52	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	-0.17	+0.54

Drawdowns

BLV vs. BBLB - Drawdown Comparison

The maximum BLV drawdown since its inception was -38.29%, which is greater than BBLB's maximum drawdown of -21.06%. Use the drawdown chart below to compare losses from any high point for BLV and BBLB.

Drawdown Indicators

	BLV	BBLB	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-21.06%	-17.23%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-7.53%	+1.80%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-18.95%	+3.79%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.29%	—	—
Current Drawdown Current decline from peak	-24.14%	-8.93%	-15.21%
Average Drawdown Average peak-to-trough decline	-9.51%	-8.94%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	3.00%	-0.74%

Volatility

BLV vs. BBLB - Volatility Comparison

The current volatility for Vanguard Long-Term Bond ETF (BLV) is 2.50%, while JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) has a volatility of 2.90%. This indicates that BLV experiences smaller price fluctuations and is considered to be less risky than BBLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLV	BBLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	2.90%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	5.62%	6.55%	-0.93%
Volatility (1Y) Calculated over the trailing 1-year period	8.15%	9.80%	-1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	13.83%	-0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.98%	13.83%	-1.85%

BLV vs. BBLB - Expense Ratio Comparison

BLV has a 0.03% expense ratio, which is lower than BBLB's 0.04% 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

BLV vs. BBLB - Dividend Comparison

BLV's dividend yield for the trailing twelve months is around 4.80%, less than BBLB's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF	5.00%	5.03%	5.34%	2.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 BBLB in my portfolio?

With a correlation of 0.98, BLV and BBLB 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.

Which is riskier, BLV or BBLB?

BBLB has higher volatility (2.90%) compared to BLV (2.50%). In terms of maximum drawdown, BLV dropped -38.29% vs BBLB's -21.06%.

Which ETF is better, BLV or BBLB?

On 3-year performance, BLV leads with 2.02% vs -1.70% for BBLB. On fees, BLV is cheaper at 0.03% per year. On volatility, BLV has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLV or BBLB?

Over the 3-year period, BLV has performed better with a 2.02% return vs -1.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLV or BBLB?

BLV is cheaper with a 0.03% expense ratio, compared with 0.04% for BBLB.

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

BBLB has the higher dividend yield at 5.00%, compared with 4.80% for BLV.

What is the main difference between BLV and BBLB?

BLV is categorized as Long-Term Bond, while BBLB is Government Bonds. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while BBLB tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.03% for BLV and 0.04% for BBLB.

Which has better risk-adjusted returns?

BLV currently has the higher Sharpe Ratio (0.81 vs 0.52), 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.