BLV vs. BND
BLV (Vanguard Long-Term Bond ETF) and BND (Vanguard Total Bond Market 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 BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, BLV returned 0.94%/yr vs 1.59%/yr for BND. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.
Performance
BLV vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, BLV achieves a 1.06% return, which is significantly higher than BND's 0.75% return. Over the past 10 years, BLV has underperformed BND with an annualized return of 0.94%, while BND has yielded a comparatively higher 1.59% annualized return.
BLV
- 1D
- 0.38%
- 1M
- 2.88%
- YTD
- 1.06%
- 6M
- 1.00%
- 1Y
- 6.70%
- 3Y*
- 2.05%
- 5Y*
- -3.57%
- 10Y*
- 0.94%
BND
- 1D
- 0.15%
- 1M
- 1.26%
- YTD
- 0.75%
- 6M
- 0.83%
- 1Y
- 5.22%
- 3Y*
- 4.09%
- 5Y*
- 0.12%
- 10Y*
- 1.59%
BLV vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | 1.06% | 6.44% | -3.65% | 7.35% | -26.95% | -2.89% | 16.13% | 18.99% | -4.17% | 10.74% |
BND Vanguard Total Bond Market ETF | 0.75% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between BLV and BND is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.88 |
The correlation between BLV and BND has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.
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Return for Risk
BLV vs. BND — Risk / Return Rank
BLV
BND
BLV vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and Vanguard Total Bond Market ETF (BND). 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.
| BLV | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.25 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.96 | -0.78 |
| Martin ratioReturn relative to average drawdown | 2.89 | 5.67 | -2.78 |
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Drawdowns
BLV vs. BND - Drawdown Comparison
The maximum BLV drawdown since its inception was -38.29%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BLV and BND.
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Drawdown Indicators
| BLV | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.29% | -18.58% | -19.71% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -2.68% | -3.05% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -5.92% | -9.24% |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | -17.91% | -18.36% |
Max Drawdown (10Y)Largest decline over 10 years | -38.29% | -18.58% | -19.71% |
Current DrawdownCurrent decline from peak | -23.55% | -1.90% | -21.65% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -3.06% | -6.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 0.92% | +1.41% |
Volatility
BLV vs. BND - Volatility Comparison
Vanguard Long-Term Bond ETF (BLV) has a higher volatility of 2.23% compared to Vanguard Total Bond Market ETF (BND) at 1.12%. This indicates that BLV's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLV | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.23% | 1.12% | +1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 5.73% | 2.73% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 3.71% | +4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.96% | 6.03% | +6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.99% | 5.53% | +6.46% |
BLV vs. BND - Expense Ratio Comparison
Both BLV and BND 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
BLV vs. BND - Dividend Comparison
BLV's dividend yield for the trailing twelve months is around 4.76%, more than BND's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | 4.76% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
BND Vanguard Total Bond Market ETF | 3.95% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Frequently Asked Questions
With a correlation of 0.95, BLV and BND 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.
BLV has higher volatility (2.23%) compared to BND (1.12%). In terms of maximum drawdown, BLV dropped -38.29% vs BND's -18.58%.
On 10-year performance, BND leads with 1.59% vs 0.94% for BLV. Both ETFs have the same 0.03% expense ratio. On volatility, BND has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BND has performed better with a 1.59% return vs 0.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BLV and BND have the same expense ratio: 0.03% per year.
BLV has the higher dividend yield at 4.76%, compared with 3.95% for BND.
BLV is categorized as Long-Term Bond, while BND is Total Bond Market. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index.
BND currently has the higher Sharpe Ratio (1.41 vs 0.84), 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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