BLV vs. IBGB
BLV (Vanguard Long-Term Bond ETF) and IBGB (iShares iBonds Dec 2045 Term Treasury 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 IBGB is a Government Bonds fund tracking the ICE 2045 Maturity US Treasury Index. Both are passively managed. Over the past year, BLV returned 6.59% vs 5.38% for IBGB. With a 0.98 correlation, they move nearly in lockstep. BLV charges 0.03%/yr vs 0.07%/yr for IBGB.
Performance
BLV vs. IBGB - Performance Comparison
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Returns By Period
In the year-to-date period, BLV achieves a 0.28% return, which is significantly higher than IBGB's -0.40% 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%
IBGB
- 1D
- -0.37%
- 1M
- 0.61%
- YTD
- -0.40%
- 6M
- -1.50%
- 1Y
- 5.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BLV vs. IBGB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BLV Vanguard Long-Term Bond ETF | 0.28% | 4.07% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | -0.40% | 2.71% |
Correlation
The correlation between BLV and IBGB 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 (All Time) Calculated using the full available price history since Mar 27, 2025 | 0.98 |
The correlation between BLV and IBGB has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
BLV vs. IBGB — Risk / Return Rank
BLV
IBGB
BLV vs. IBGB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and iShares iBonds Dec 2045 Term Treasury ETF (IBGB). 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 | IBGB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.11 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.80 | +0.36 |
| Martin ratioReturn relative to average drawdown | 2.92 | 2.15 | +0.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BLV | IBGB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 0.64 | +0.17 |
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 | 0.20 | +0.16 |
Drawdowns
BLV vs. IBGB - Drawdown Comparison
The maximum BLV drawdown since its inception was -38.29%, which is greater than IBGB's maximum drawdown of -8.09%. Use the drawdown chart below to compare losses from any high point for BLV and IBGB.
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Drawdown Indicators
| BLV | IBGB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.29% | -8.09% | -30.20% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -6.79% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.29% | — | — |
Current DrawdownCurrent decline from peak | -24.14% | -4.18% | -19.96% |
Average DrawdownAverage peak-to-trough decline | -9.51% | -3.17% | -6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.51% | -0.25% |
Volatility
BLV vs. IBGB - Volatility Comparison
Vanguard Long-Term Bond ETF (BLV) and iShares iBonds Dec 2045 Term Treasury ETF (IBGB) have volatilities of 2.50% and 2.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLV | IBGB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 2.61% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 5.62% | 5.79% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.15% | 8.44% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.97% | 9.53% | +3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.98% | 9.53% | +2.45% |
BLV vs. IBGB - Expense Ratio Comparison
BLV has a 0.03% expense ratio, which is lower than IBGB's 0.07% 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. IBGB - Dividend Comparison
BLV's dividend yield for the trailing twelve months is around 4.80%, more than IBGB's 4.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IBGB iShares iBonds Dec 2045 Term Treasury ETF | 4.63% | 3.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, BLV and IBGB 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.
IBGB has higher volatility (2.61%) compared to BLV (2.50%). In terms of maximum drawdown, BLV dropped -38.29% vs IBGB's -8.09%.
On 1-year performance, BLV leads with 6.59% vs 5.38% for IBGB. 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.
Over the 1-year period, BLV has performed better with a 6.59% return vs 5.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BLV is cheaper with a 0.03% expense ratio, compared with 0.07% for IBGB.
BLV has the higher dividend yield at 4.80%, compared with 4.63% for IBGB.
BLV is categorized as Long-Term Bond, while IBGB is Government Bonds. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while IBGB tracks ICE 2045 Maturity US Treasury Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BLV and 0.07% for IBGB.
BLV currently has the higher Sharpe Ratio (0.81 vs 0.64), 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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