BSV vs. IGOV
BSV (Vanguard Short-Term Bond Index Fund ETF Shares) and IGOV (iShares International 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 IGOV is a International Government Bonds fund tracking the FTSE World Government Bond Index - Developed Markets Capped Select Index. Both are passively managed. Over the past 10 years, BSV returned 1.92%/yr vs -1.52%/yr for IGOV. Their 0.45 correlation means their historical movements had little consistent relationship. BSV charges 0.03%/yr vs 0.35%/yr for IGOV.
Performance
BSV vs. IGOV - Performance Comparison
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Returns By Period
In the year-to-date period, BSV achieves a 0.52% return, which is significantly higher than IGOV's -1.01% return. Over the past 10 years, BSV has outperformed IGOV with an annualized return of 1.92%, while IGOV has yielded a comparatively lower -1.52% annualized return.
BSV
- 1D
- 0.10%
- 1M
- -0.12%
- 6M
- 0.42%
- YTD
- 0.52%
- 1Y
- 2.46%
- 3Y*
- 4.47%
- 5Y*
- 1.62%
- 10Y*
- 1.92%
- ALL TIME*
- 2.52%
IGOV
- 1D
- 0.56%
- 1M
- 0.49%
- 6M
- -2.32%
- YTD
- -1.01%
- 1Y
- -0.71%
- 3Y*
- 2.17%
- 5Y*
- -4.55%
- 10Y*
- -1.52%
- ALL TIME*
- 0.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $128.14M | $170.40M | $199.65M | |
| $8.97M | $15.96M | $16.64M |
BSV vs. IGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 0.52% | 6.00% | 3.78% | 4.90% | -5.49% | -1.09% | 4.70% | 4.98% | 1.34% | 1.20% |
IGOV iShares International Treasury Bond ETF | -1.01% | 9.96% | -6.50% | 5.57% | -22.07% | -9.25% | 10.88% | 3.76% | -2.60% | 11.38% |
Correlation
The correlation between BSV and IGOV is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.66 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.67 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2009 | 0.45 |
Over the past year, BSV and IGOV have become more correlated (0.67) than their long-term average of 0.45, meaning their price movements have been converging.
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Return for Risk
BSV vs. IGOV — Risk / Return Rank
BSV
IGOV
BSV vs. IGOV - 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 International Treasury Bond ETF (IGOV). 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 | IGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.53 | ||
| Sortino ratioReturn per unit of downside risk | +2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.99 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | -0.12 | +2.03 |
| Martin ratioReturn relative to average drawdown | 5.92 | -0.25 | +6.17 |
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Drawdowns
BSV vs. IGOV - Drawdown Comparison
The maximum BSV drawdown since its inception was -8.54%, smaller than the maximum IGOV drawdown of -35.88%. Use the drawdown chart below to compare losses from any high point for BSV and IGOV.
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Drawdown Indicators
| BSV | IGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.54% | -35.88% | +27.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -6.14% | +4.85% |
Max Drawdown (3Y)Largest decline over 3 years | -1.53% | -10.65% | +9.12% |
Max Drawdown (5Y)Largest decline over 5 years | -8.39% | -32.80% | +24.41% |
Max Drawdown (10Y)Largest decline over 10 years | -8.54% | -35.88% | +27.34% |
Current DrawdownCurrent decline from peak | -0.40% | -24.39% | +23.99% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -11.14% | +10.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 2.89% | -2.47% |
Volatility
BSV vs. IGOV - Volatility Comparison
The current volatility for Vanguard Short-Term Bond Index Fund ETF Shares (BSV) is 0.47%, while iShares International Treasury Bond ETF (IGOV) has a volatility of 2.02%. This indicates that BSV experiences smaller price fluctuations and is considered to be less risky than IGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSV | IGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 2.02% | -1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 6.26% | -4.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.71% | 7.83% | -6.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.74% | 9.99% | -7.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 8.59% | -6.21% |
BSV vs. IGOV - Expense Ratio Comparison
BSV has a 0.03% expense ratio, which is lower than IGOV's 0.35% expense ratio.
Dividends
BSV vs. IGOV - Dividend Comparison
BSV's dividend yield for the trailing twelve months is around 4.04%, more than IGOV's 1.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSV Vanguard Short-Term Bond Index Fund ETF Shares | 4.04% | 3.83% | 3.38% | 2.46% | 1.50% | 1.45% | 1.79% | 2.29% | 1.99% | 1.65% | 1.48% | 1.40% |
IGOV iShares International Treasury Bond ETF | 1.42% | 1.41% | 0.59% | 0.00% | 0.11% | 0.39% | 0.00% | 0.24% | 0.31% | 0.19% | 0.69% | 0.12% |
Frequently Asked Questions
BSV and IGOV have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGOV has higher volatility (2.02%) compared to BSV (0.47%). In terms of maximum drawdown, BSV dropped -8.54% vs IGOV's -35.88%.
On 10-year performance, BSV leads with 1.92% vs -1.52% for IGOV. On fees, BSV is cheaper at 0.03% per year. On volatility, BSV has been the lower-risk option at 0.47%. 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 1.92% return vs -1.52%. 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 0.35% for IGOV.
BSV has the higher dividend yield at 4.04%, compared with 1.42% for IGOV.
BSV is categorized as Short-Term Bond, while IGOV is International Government Bonds. BSV tracks Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index, while IGOV tracks FTSE World Government Bond Index - Developed Markets Capped Select Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BSV and 0.35% for IGOV.
BSV currently has the higher Sharpe Ratio (1.44 vs -0.09), 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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