BLV vs. BSV
BLV (Vanguard Long-Term Bond ETF) and BSV (Vanguard Short-Term Bond Index Fund ETF Shares) are both exchange-traded funds - BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index, while BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, BLV returned 0.94%/yr vs 1.94%/yr for BSV. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.03% expense ratio.
Performance
BLV vs. BSV - 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 BSV's 0.51% return. Over the past 10 years, BLV has underperformed BSV with an annualized return of 0.94%, while BSV has yielded a comparatively higher 1.94% 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%
BSV
- 1D
- 0.03%
- 1M
- 0.50%
- YTD
- 0.51%
- 6M
- 0.68%
- 1Y
- 3.80%
- 3Y*
- 4.58%
- 5Y*
- 1.71%
- 10Y*
- 1.94%
BLV vs. BSV - 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% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.51% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
Correlation
The correlation between BLV and BSV is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.65 |
The correlation between BLV and BSV shifts across timeframes, from 0.65 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BLV vs. BSV — Risk / Return Rank
BLV
BSV
BLV vs. BSV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). 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 | BSV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.42 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 2.96 | -1.79 |
| Martin ratioReturn relative to average drawdown | 2.89 | 9.96 | -7.08 |
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Drawdowns
BLV vs. BSV - Drawdown Comparison
The maximum BLV drawdown since its inception was -38.29%, which is greater than BSV's maximum drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for BLV and BSV.
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Drawdown Indicators
| BLV | BSV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.29% | -8.54% | -29.75% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -1.29% | -4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -1.53% | -13.63% |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | -8.54% | -27.73% |
Max Drawdown (10Y)Largest decline over 10 years | -38.29% | -8.54% | -29.75% |
Current DrawdownCurrent decline from peak | -23.55% | -0.41% | -23.14% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -0.97% | -8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 0.38% | +1.95% |
Volatility
BLV vs. BSV - Volatility Comparison
Vanguard Long-Term Bond ETF (BLV) has a higher volatility of 2.23% compared to Vanguard Short-Term Bond Index Fund ETF Shares (BSV) at 0.52%. This indicates that BLV's price experiences larger fluctuations and is considered to be riskier than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLV | BSV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.23% | 0.52% | +1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 5.73% | 1.28% | +4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.00% | 1.78% | +6.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.96% | 2.73% | +10.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.99% | 2.38% | +9.61% |
BLV vs. BSV - Expense Ratio Comparison
Both BLV and BSV 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. BSV - Dividend Comparison
BLV's dividend yield for the trailing twelve months is around 4.76%, more than BSV's 3.99% 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% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 3.99% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
Frequently Asked Questions
BLV and BSV have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BLV has higher volatility (2.23%) compared to BSV (0.52%). In terms of maximum drawdown, BLV dropped -38.29% vs BSV's -8.54%.
On 10-year performance, BSV leads with 1.94% vs 0.94% for BLV. Both ETFs have the same 0.03% expense ratio. On volatility, BSV has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, BSV has performed better with a 1.94% return vs 0.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BLV and BSV have the same expense ratio: 0.03% per year.
BLV has the higher dividend yield at 4.76%, compared with 3.99% for BSV.
BLV is categorized as Long-Term Bond, while BSV is Short-Term Bond. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index.
BSV currently has the higher Sharpe Ratio (2.14 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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