BSV vs. GOVT
BSV (Vanguard Short-Term Bond Index Fund ETF Shares) and GOVT (iShares U.S. Treasury Bond 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 GOVT is a Government Bonds fund tracking the ICE U.S. Treasury Core Bond Index. Both are passively managed. Over the past 10 years, BSV returned 1.94%/yr vs 0.83%/yr for GOVT. A 0.79 correlation means they provide meaningful diversification when combined. BSV charges 0.03%/yr vs 0.05%/yr for GOVT.
Performance
BSV vs. GOVT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BSV achieves a 0.48% return, which is significantly higher than GOVT's 0.18% return. Over the past 10 years, BSV has outperformed GOVT with an annualized return of 1.94%, while GOVT has yielded a comparatively lower 0.83% annualized return.
BSV
- 1D
- 0.06%
- 1M
- 0.47%
- YTD
- 0.48%
- 6M
- 0.76%
- 1Y
- 3.74%
- 3Y*
- 4.57%
- 5Y*
- 1.70%
- 10Y*
- 1.94%
GOVT
- 1D
- 0.07%
- 1M
- 1.02%
- YTD
- 0.18%
- 6M
- 0.42%
- 1Y
- 3.71%
- 3Y*
- 2.99%
- 5Y*
- -0.38%
- 10Y*
- 0.83%
BSV vs. GOVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.48% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
GOVT iShares U.S. Treasury Bond ETF | 0.18% | 3.77% | 2.95% | 4.17% | -13.39% | -1.11% | 7.28% | 7.36% | 0.26% | 2.19% |
Correlation
The correlation between BSV and GOVT is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012 | 0.79 |
The correlation between BSV and GOVT shifts across timeframes, from 0.79 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BSV vs. GOVT — Risk / Return Rank
BSV
GOVT
BSV vs. GOVT - 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 iShares U.S. Treasury Bond ETF (GOVT). 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 | GOVT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.18 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 1.31 | +1.61 |
| Martin ratioReturn relative to average drawdown | 9.81 | 3.64 | +6.17 |
Loading charts...
Drawdowns
BSV vs. GOVT - Drawdown Comparison
The maximum BSV drawdown since its inception was -8.54%, smaller than the maximum GOVT drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for BSV and GOVT.
Loading charts...
Drawdown Indicators
| BSV | GOVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -19.07% | +10.53% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -2.85% | +1.56% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -5.43% | +3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -8.54% | -16.60% | +8.06% |
Max Drawdown (10Y)Largest decline over 10 years | -8.54% | -19.07% | +10.53% |
Current DrawdownCurrent decline from peak | -0.44% | -6.91% | +6.47% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -5.25% | +4.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 1.02% | -0.64% |
Volatility
BSV vs. GOVT - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) is 0.57%, while iShares U.S. Treasury Bond ETF (GOVT) has a volatility of 1.15%. This indicates that BSV experiences smaller price fluctuations and is considered to be less risky than GOVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BSV | GOVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 1.15% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 1.28% | 2.58% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.79% | 3.56% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.73% | 6.04% | -3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 5.23% | -2.85% |
BSV vs. GOVT - Expense Ratio Comparison
BSV has a 0.03% expense ratio, which is lower than GOVT's 0.05% 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
BSV vs. GOVT - Dividend Comparison
BSV's dividend yield for the trailing twelve months is around 3.99%, more than GOVT's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 3.99% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
GOVT iShares U.S. Treasury Bond ETF | 3.58% | 3.49% | 3.14% | 2.65% | 1.77% | 0.96% | 2.17% | 1.98% | 1.97% | 1.57% | 1.40% | 1.25% |
Frequently Asked Questions
BSV and GOVT have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVT has higher volatility (1.15%) compared to BSV (0.57%). In terms of maximum drawdown, BSV dropped -8.54% vs GOVT's -19.07%.
On 10-year performance, BSV leads with 1.94% vs 0.83% for GOVT. On fees, BSV is cheaper at 0.03% per year. On volatility, BSV has been the lower-risk option at 0.57%. 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 1.94% return vs 0.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSV is cheaper with a 0.03% expense ratio, compared with 0.05% for GOVT.
BSV has the higher dividend yield at 3.99%, compared with 3.58% for GOVT.
BSV is categorized as Short-Term Bond, while GOVT is Government Bonds. BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while GOVT tracks ICE U.S. Treasury Core Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BSV and 0.05% for GOVT.
BSV currently has the higher Sharpe Ratio (2.10 vs 1.05), 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.
Find the right allocation for BSV and GOVT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer