BSV vs. BND
BSV (Vanguard Short-Term Bond Index Fund ETF Shares) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - BSV is a Short-Term Bond fund tracking the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, BSV returned 1.90%/yr vs 1.55%/yr for BND. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.03% expense ratio.
Performance
BSV vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, BSV achieves a 0.21% return, which is significantly lower than BND's 0.38% return. Over the past 10 years, BSV has outperformed BND with an annualized return of 1.90%, while BND has yielded a comparatively lower 1.55% annualized return.
BSV
- 1D
- -0.12%
- 1M
- 0.11%
- YTD
- 0.21%
- 6M
- 0.37%
- 1Y
- 3.25%
- 3Y*
- 4.47%
- 5Y*
- 1.66%
- 10Y*
- 1.90%
BND
- 1D
- -0.27%
- 1M
- 0.53%
- YTD
- 0.38%
- 6M
- 0.45%
- 1Y
- 4.37%
- 3Y*
- 3.92%
- 5Y*
- 0.04%
- 10Y*
- 1.55%
BSV vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.21% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
BND Vanguard Total Bond Market ETF | 0.38% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Correlation
The correlation between BSV and BND is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.77 |
The correlation between BSV and BND shifts across timeframes, from 0.77 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BSV vs. BND — Risk / Return Rank
BSV
BND
BSV vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) and Vanguard Total Bond Market ETF (BND). 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.
| BSV | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.21 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 1.64 | +0.89 |
| Martin ratioReturn relative to average drawdown | 8.35 | 4.69 | +3.66 |
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Drawdowns
BSV vs. BND - Drawdown Comparison
The maximum BSV drawdown since its inception was -8.54%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BSV and BND.
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Drawdown Indicators
| BSV | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -18.58% | +10.04% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -2.68% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -5.92% | +4.39% |
Max Drawdown (5Y)Largest decline over 5 years | -8.54% | -17.91% | +9.37% |
Max Drawdown (10Y)Largest decline over 10 years | -8.54% | -18.58% | +10.04% |
Current DrawdownCurrent decline from peak | -0.70% | -2.26% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -3.06% | +2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.93% | -0.54% |
Volatility
BSV vs. BND - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) is 0.59%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.08%. This indicates that BSV experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSV | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 1.08% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 1.33% | 2.77% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.82% | 3.74% | -1.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 6.03% | -3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 5.54% | -3.16% |
BSV vs. BND - Expense Ratio Comparison
Both BSV and BND 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
BSV vs. BND - Dividend Comparison
BSV's dividend yield for the trailing twelve months is around 4.00%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 4.00% | 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
With a correlation of 0.91, BSV and BND 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.
BND has higher volatility (1.08%) compared to BSV (0.59%). In terms of maximum drawdown, BSV dropped -8.54% vs BND's -18.58%.
On 10-year performance, BSV leads with 1.90% vs 1.55% for BND. Both ETFs have the same 0.03% expense ratio. On volatility, BSV has been the lower-risk option at 0.59%. 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 1.90% return vs 1.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSV and BND have the same expense ratio: 0.03% per year.
BSV has the higher dividend yield at 4.00%, compared with 3.96% for BND.
BSV is categorized as Short-Term Bond, while BND is Total Bond Market. BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index.
BSV currently has the higher Sharpe Ratio (1.79 vs 1.18), 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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