BLV vs. ZTEN
BLV (Vanguard Long-Term Bond ETF) and ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) are both Long-Term Bond funds - BLV tracks the Bloomberg U.S. Long Government/Credit Float Adjusted Index while ZTEN tracks the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross. Both are passively managed. Over the past year, BLV returned -0.29% vs 2.64% for ZTEN. Their correlation of 0.93 means they have usually moved in the same direction. BLV charges 0.03%/yr vs 0.15%/yr for ZTEN.
Performance
BLV vs. ZTEN - Performance Comparison
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Returns By Period
In the year-to-date period, BLV achieves a -2.38% return, which is significantly lower than ZTEN's -0.52% return.
BLV
- 1D
- 0.44%
- 1M
- -3.14%
- 6M
- -2.34%
- YTD
- -2.38%
- 1Y
- -0.29%
- 3Y*
- 2.08%
- 5Y*
- -5.11%
- 10Y*
- 0.32%
- ALL TIME*
- 4.05%
ZTEN
- 1D
- 0.37%
- 1M
- -1.32%
- 6M
- -0.50%
- YTD
- -0.52%
- 1Y
- 2.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.99M | $52.76M | $45.16M | |
| $49.86K | $45.25K | $108.93K |
BLV vs. ZTEN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | -2.38% | 6.44% | -1.33% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | -0.52% | 9.15% | 0.29% |
Correlation
The correlation between BLV and ZTEN is 0.93, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.93 |
The correlation between BLV and ZTEN has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
BLV vs. ZTEN — Risk / Return Rank
BLV
ZTEN
BLV vs. ZTEN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond ETF (BLV) and F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN). 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 | ZTEN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.80 | -0.85 |
| Martin ratioReturn relative to average drawdown | -0.11 | 2.21 | -2.32 |
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Drawdowns
BLV vs. ZTEN - Drawdown Comparison
The maximum BLV drawdown since its inception was -38.29%, which is greater than ZTEN's maximum drawdown of -3.43%. Use the drawdown chart below to compare losses from any high point for BLV and ZTEN.
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Drawdown Indicators
| BLV | ZTEN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.29% | -3.43% | -34.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.92% | -3.32% | -2.60% |
Max Drawdown (3Y)Largest decline over 3 years | -11.70% | — | — |
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 | -26.16% | -2.13% | -24.03% |
Average DrawdownAverage peak-to-trough decline | -9.64% | -0.86% | -8.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.66% | 1.20% | +1.46% |
Volatility
BLV vs. ZTEN - Volatility Comparison
Vanguard Long-Term Bond ETF (BLV) has a higher volatility of 2.19% compared to F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) at 1.38%. This indicates that BLV's price experiences larger fluctuations and is considered to be riskier than ZTEN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BLV | ZTEN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 1.38% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 5.97% | 4.03% | +1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.77% | 4.90% | +2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.91% | 5.71% | +7.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.95% | 5.71% | +6.24% |
BLV vs. ZTEN - Expense Ratio Comparison
BLV has a 0.03% expense ratio, which is lower than ZTEN's 0.15% 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. ZTEN - Dividend Comparison
BLV's dividend yield for the trailing twelve months is around 4.97%, less than ZTEN's 5.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | 4.97% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.11% | 5.16% | 0.44% | 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 0.93, BLV and ZTEN 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 (2.19%) compared to ZTEN (1.38%). In terms of maximum drawdown, BLV dropped -38.29% vs ZTEN's -3.43%.
On 1-year performance, ZTEN leads with 2.64% vs -0.29% for BLV. On fees, BLV is cheaper at 0.03% per year. On volatility, ZTEN has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZTEN has performed better with a 2.64% return vs -0.29%. 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 0.15% for ZTEN.
ZTEN has the higher dividend yield at 5.11%, compared with 4.97% for BLV.
BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index, while ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross. They also come from different issuers: Vanguard and F/m. Their fees differ too: 0.03% for BLV and 0.15% for ZTEN.
ZTEN currently has the higher Sharpe Ratio (0.54 vs -0.04), 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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