BLV vs. VOO

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Long-Term Bond ETF (BLV) and Vanguard S&P 500 ETF (VOO).

BLV and VOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BLV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Long Government/Credit Float Adjusted Index. It was launched on Apr 3, 2007. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both BLV and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

BLV vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Bond ETF (BLV) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

BLV vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BLV Vanguard Long-Term Bond ETF	-0.32%	6.44%	-3.65%	7.35%	-26.95%	-2.89%	16.13%	18.99%	-4.17%	10.74%
VOO Vanguard S&P 500 ETF	-4.42%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Returns By Period

In the year-to-date period, BLV achieves a -0.32% return, which is significantly higher than VOO's -4.42% return. Over the past 10 years, BLV has underperformed VOO with an annualized return of 1.20%, while VOO has yielded a comparatively higher 14.05% annualized return.

BLV

• 1D: 0.36%
• 1M: -3.51%
• YTD: -0.32%
• 6M: -0.68%
• 1Y: 2.33%
• 3Y*: 1.01%
• 5Y*: -3.05%
• 10Y*: 1.20%

VOO

• 1D: 2.86%
• 1M: -5.01%
• YTD: -4.42%
• 6M: -1.84%
• 1Y: 17.67%
• 3Y*: 18.27%
• 5Y*: 11.75%
• 10Y*: 14.05%

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

BLV vs. VOO - Expense Ratio Comparison

Both BLV and VOO 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%.

BLV

Vanguard Long-Term Bond ETF

VOO

Vanguard S&P 500 ETF

Return for Risk

BLV vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BLV

BLV Risk / Return Rank: 19
BLV Sharpe Ratio Rank: 19
BLV Sortino Ratio Rank: 17
BLV Omega Ratio Rank: 17
BLV Calmar Ratio Rank: 23
BLV Martin Ratio Rank: 20

VOO

VOO Risk / Return Rank: 65
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 62
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 65
VOO Martin Ratio Rank: 75

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio Return per unit of total volatility	0.24	0.98	-0.74
Sortino ratio Return per unit of downside risk	0.38	1.50	-1.11
Omega ratio Gain probability vs. loss probability	1.05	1.23	-0.18
Calmar ratio Return relative to maximum drawdown	0.43	1.53	-1.10
Martin ratio Return relative to average drawdown	1.04	7.29	-6.25
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. VOO - Sharpe Ratio Comparison

The current BLV Sharpe Ratio is 0.24, which is lower than the VOO Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of BLV and VOO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BLV	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	0.98	-0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.70	-0.94
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.10	0.78	-0.68
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.83	-0.46

Correlation

The correlation between BLV and VOO is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

BLV vs. VOO - Dividend Comparison

BLV's dividend yield for the trailing twelve months is around 4.73%, more than VOO's 1.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BLV Vanguard Long-Term Bond ETF	4.73%	4.67%	5.09%	4.06%	4.17%	3.37%	6.12%	3.57%	4.07%	3.63%	4.16%	4.37%
VOO Vanguard S&P 500 ETF	1.19%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Drawdowns

BLV vs. VOO - Drawdown Comparison

The maximum BLV drawdown since its inception was -38.29%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for BLV and VOO.

Drawdown Indicators

	BLV	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-33.99%	-4.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-11.98%	+5.09%
Max Drawdown (5Y) Largest decline over 5 years	-36.27%	-24.52%	-11.75%
Max Drawdown (10Y) Largest decline over 10 years	-38.29%	-33.99%	-4.30%
Current Drawdown Current decline from peak	-24.59%	-6.29%	-18.30%
Average Drawdown Average peak-to-trough decline	-9.37%	-3.72%	-5.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	2.52%	+0.32%

Volatility

BLV vs. VOO - Volatility Comparison

The current volatility for Vanguard Long-Term Bond ETF (BLV) is 3.54%, while Vanguard S&P 500 ETF (VOO) has a volatility of 5.29%. This indicates that BLV experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BLV	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	5.29%	-1.75%
Volatility (6M) Calculated over the trailing 6-month period	5.50%	9.44%	-3.94%
Volatility (1Y) Calculated over the trailing 1-year period	9.77%	18.10%	-8.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.98%	16.82%	-3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.99%	17.99%	-6.00%