GBF vs. BFIX
GBF (iShares Government/Credit Bond ETF) and BFIX (Build Bond Innovation ETF) are both Intermediate Core Bond funds. GBF is passively managed, while BFIX is actively managed. Over the past 3 years, GBF returned 3.64%/yr vs 7.78%/yr for BFIX. At a 0.47 correlation, their price movements are largely independent. GBF charges 0.20%/yr vs 0.45%/yr for BFIX.
Performance
GBF vs. BFIX - Performance Comparison
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Returns By Period
In the year-to-date period, GBF achieves a 0.35% return, which is significantly lower than BFIX's 1.35% return.
GBF
- 1D
- 0.13%
- 1M
- 0.21%
- YTD
- 0.35%
- 6M
- 0.18%
- 1Y
- 4.02%
- 3Y*
- 3.64%
- 5Y*
- -0.19%
- 10Y*
- 1.51%
BFIX
- 1D
- 0.08%
- 1M
- 0.25%
- YTD
- 1.35%
- 6M
- 1.57%
- 1Y
- 4.53%
- 3Y*
- 7.78%
- 5Y*
- —
- 10Y*
- —
GBF vs. BFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.35% | 6.41% | 0.99% | 5.79% | -9.95% |
BFIX Build Bond Innovation ETF | 1.35% | 5.91% | 12.95% | 4.97% | -6.82% |
Correlation
The correlation between GBF and BFIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022 | 0.47 |
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Return for Risk
GBF vs. BFIX — Risk / Return Rank
GBF
BFIX
GBF vs. BFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Government/Credit Bond ETF (GBF) and Build Bond Innovation ETF (BFIX). 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.
| GBF | BFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 4.82 | -3.35 |
| Martin ratioReturn relative to average drawdown | 4.37 | 11.68 | -7.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBF | BFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.58 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.85 | -0.27 |
Drawdowns
GBF vs. BFIX - Drawdown Comparison
The maximum GBF drawdown since its inception was -19.67%, which is greater than BFIX's maximum drawdown of -8.03%. Use the drawdown chart below to compare losses from any high point for GBF and BFIX.
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Drawdown Indicators
| GBF | BFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | -8.03% | -11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -0.94% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.78% | -4.05% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -18.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -4.71% | -0.32% | -4.39% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -2.75% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.39% | +0.53% |
Volatility
GBF vs. BFIX - Volatility Comparison
iShares Government/Credit Bond ETF (GBF) has a higher volatility of 1.21% compared to Build Bond Innovation ETF (BFIX) at 0.89%. This indicates that GBF's price experiences larger fluctuations and is considered to be riskier than BFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBF | BFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 0.89% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 1.73% | +0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 2.89% | +0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 4.77% | +1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | 4.77% | +0.51% |
GBF vs. BFIX - Expense Ratio Comparison
GBF has a 0.20% expense ratio, which is lower than BFIX's 0.45% expense ratio.
Dividends
GBF vs. BFIX - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.78%, more than BFIX's 3.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BFIX Build Bond Innovation ETF | 3.52% | 3.73% | 4.38% | 4.30% | 1.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBF iShares Government/Credit Bond ETF | 3.78% | 3.81% | 3.94% | 3.03% | 2.13% | 1.22% | 1.64% | 2.64% | 2.59% | 2.31% | 2.09% | 2.04% |
Frequently Asked Questions
GBF and BFIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBF has higher volatility (1.21%) compared to BFIX (0.89%). In terms of maximum drawdown, GBF dropped -19.67% vs BFIX's -8.03%.
On 3-year performance, BFIX leads with 7.78% vs 3.64% for GBF. On fees, GBF is cheaper at 0.20% per year. On volatility, BFIX has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BFIX has performed better with a 7.78% return vs 3.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GBF is cheaper with a 0.20% expense ratio, compared with 0.45% for BFIX.
GBF has the higher dividend yield at 3.78%, compared with 3.52% for BFIX.
They also come from different issuers: iShares and Build. Their fees differ too: 0.20% for GBF and 0.45% for BFIX.
BFIX currently has the higher Sharpe Ratio (1.58 vs 1.09), 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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