BLV vs. VGLT

Last updated Jun 3, 2026

BLV (Vanguard Long-Term Bond ETF) and VGLT (Vanguard Long-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 VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, BLV returned 1.02%/yr vs -1.06%/yr for VGLT. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.

Performance

BLV vs. VGLT - Performance Comparison

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

Returns By Period

In the year-to-date period, BLV achieves a 0.59% return, which is significantly higher than VGLT's -0.01% return. Over the past 10 years, BLV has outperformed VGLT with an annualized return of 1.02%, while VGLT has yielded a comparatively lower -1.06% annualized return.

BLV

• 1D: 0.13%
• 1M: 0.78%
• YTD: 0.59%
• 6M: -0.26%
• 1Y: 6.95%
• 3Y*: 2.13%
• 5Y*: -3.04%
• 10Y*: 1.02%

VGLT

• 1D: 0.24%
• 1M: 0.43%
• YTD: -0.01%
• 6M: -1.04%
• 1Y: 5.54%
• 3Y*: -0.59%
• 5Y*: -4.98%
• 10Y*: -1.06%

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

BLV vs. VGLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLV Vanguard Long-Term Bond ETF	0.59%	6.44%	-3.65%	7.35%	-26.95%	-2.89%	16.13%	18.99%	-4.17%	10.74%
VGLT Vanguard Long-Term Treasury ETF	-0.01%	5.35%	-6.28%	3.27%	-29.34%	-4.98%	17.57%	14.30%	-1.54%	8.64%

Correlation

The correlation between BLV and VGLT 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 (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 25, 2009	0.94

The correlation between BLV and VGLT has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

BLV vs. VGLT — 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: 24
BLV Sortino Ratio Rank: 24
BLV Omega Ratio Rank: 22
BLV Calmar Ratio Rank: 23
BLV Martin Ratio Rank: 21

VGLT

VGLT Risk / Return Rank: 18
VGLT Sharpe Ratio Rank: 19
VGLT Sortino Ratio Rank: 19
VGLT Omega Ratio Rank: 18
VGLT Calmar Ratio Rank: 17
VGLT Martin Ratio Rank: 16

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. VGLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and Vanguard Long-Term Treasury ETF (VGLT). 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	VGLT	Difference
Sharpe ratio Return per unit of total volatility	0.86	0.63	+0.23
Sortino ratio Return per unit of downside risk	1.27	0.96	+0.31
Omega ratio Gain probability vs. loss probability	1.15	1.11	+0.04
Calmar ratio Return relative to maximum drawdown	1.09	0.65	+0.43
Martin ratio Return relative to average drawdown	2.76	1.72	+1.05
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. VGLT - Sharpe Ratio Comparison

The current BLV Sharpe Ratio is 0.86, which is higher than the VGLT Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of BLV and VGLT, 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	VGLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	0.63	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	-0.34	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.09	-0.08	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.19	+0.18

Drawdowns

BLV vs. VGLT - Drawdown Comparison

The maximum BLV drawdown since its inception was -38.29%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for BLV and VGLT.

Drawdown Indicators

	BLV	VGLT	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-46.18%	+7.89%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-7.01%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-17.68%	+2.52%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	-40.98%	+4.71%
Max Drawdown (10Y) Largest decline over 10 years	-38.29%	-46.18%	+7.89%
Current Drawdown Current decline from peak	-23.91%	-36.57%	+12.66%
Average Drawdown Average peak-to-trough decline	-9.51%	-15.05%	+5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.67%	-0.41%

Volatility

BLV vs. VGLT - Volatility Comparison

Vanguard Long-Term Bond ETF (BLV) and Vanguard Long-Term Treasury ETF (VGLT) have volatilities of 2.57% and 2.65%, 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.

Volatility by Period

	BLV	VGLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.57%	2.65%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	5.71%	6.04%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	8.17%	8.92%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	14.58%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.99%	13.82%	-1.83%

BLV vs. VGLT - Expense Ratio Comparison

Both BLV and VGLT 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. VGLT - Dividend Comparison

BLV's dividend yield for the trailing twelve months is around 4.79%, more than VGLT's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLV Vanguard Long-Term Bond ETF	4.79%	4.67%	5.09%	4.06%	4.17%	3.37%	6.12%	3.57%	4.07%	3.63%	4.16%	4.37%
VGLT Vanguard Long-Term Treasury ETF	4.59%	4.44%	4.33%	3.33%	2.84%	1.82%	2.15%	2.46%	2.71%	2.55%	2.69%	3.21%

Frequently Asked Questions

Can I hold both BLV and VGLT in my portfolio?

With a correlation of 0.98, BLV and VGLT 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 VGLT?

VGLT has higher volatility (2.65%) compared to BLV (2.57%). In terms of maximum drawdown, BLV dropped -38.29% vs VGLT's -46.18%.

Which ETF is better, BLV or VGLT?

On 10-year performance, BLV leads with 1.02% vs -1.06% for VGLT. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLV or VGLT?

Over the 10-year period, BLV has performed better with a 1.02% return vs -1.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLV or VGLT?

BLV and VGLT have the same expense ratio: 0.03% per year.

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

BLV has the higher dividend yield at 4.79%, compared with 4.59% for VGLT.

What is the main difference between BLV and VGLT?

BLV is categorized as Long-Term Bond, while VGLT is Government Bonds. BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while VGLT tracks Bloomberg U.S. Long Treasury Index.

Which has better risk-adjusted returns?

BLV currently has the higher Sharpe Ratio (0.86 vs 0.63), 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.