GVI vs. BND

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Intermediate Government/Credit Bond ETF (GVI) and Vanguard Total Bond Market ETF (BND).

GVI and BND are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GVI is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Intermediate Government/Credit Bond. It was launched on Jan 5, 2007. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007. Both GVI and BND are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GVI vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Intermediate Government/Credit Bond ETF (GVI) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

GVI vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GVI iShares Intermediate Government/Credit Bond ETF	-0.03%	6.66%	2.92%	5.15%	-8.28%	-1.90%	6.38%	6.54%	0.77%	1.83%
BND Vanguard Total Bond Market ETF	0.09%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Returns By Period

In the year-to-date period, GVI achieves a -0.03% return, which is significantly lower than BND's 0.09% return. Over the past 10 years, GVI has outperformed BND with an annualized return of 1.85%, while BND has yielded a comparatively lower 1.68% annualized return.

GVI

• 1D: 0.00%
• 1M: -0.89%
• YTD: -0.03%
• 6M: 0.82%
• 1Y: 4.09%
• 3Y*: 4.05%
• 5Y*: 1.12%
• 10Y*: 1.85%

BND

• 1D: 0.04%
• 1M: -1.30%
• YTD: 0.09%
• 6M: 0.74%
• 1Y: 3.96%
• 3Y*: 3.60%
• 5Y*: 0.25%
• 10Y*: 1.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GVI vs. BND - Expense Ratio Comparison

GVI has a 0.20% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

GVI

iShares Intermediate Government/Credit Bond ETF

BND

Vanguard Total Bond Market ETF

Return for Risk

GVI vs. BND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GVI

GVI Risk / Return Rank: 77
GVI Sharpe Ratio Rank: 78
GVI Sortino Ratio Rank: 83
GVI Omega Ratio Rank: 71
GVI Calmar Ratio Rank: 79
GVI Martin Ratio Rank: 75

BND

BND Risk / Return Rank: 50
BND Sharpe Ratio Rank: 49
BND Sortino Ratio Rank: 46
BND Omega Ratio Rank: 39
BND Calmar Ratio Rank: 67
BND Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GVI vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Intermediate Government/Credit Bond ETF (GVI) 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.

	GVI	BND	Difference
Sharpe ratio Return per unit of total volatility	1.50	0.93	+0.57
Sortino ratio Return per unit of downside risk	2.27	1.32	+0.96
Omega ratio Gain probability vs. loss probability	1.28	1.16	+0.11
Calmar ratio Return relative to maximum drawdown	2.36	1.75	+0.61
Martin ratio Return relative to average drawdown	8.58	4.78	+3.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GVI vs. BND - Sharpe Ratio Comparison

The current GVI Sharpe Ratio is 1.50, which is higher than the BND Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of GVI and BND, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GVI	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	0.93	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.04	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.30	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.59	+0.18

Correlation

The correlation between GVI and BND is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GVI vs. BND - Dividend Comparison

GVI's dividend yield for the trailing twelve months is around 3.57%, less than BND's 3.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GVI iShares Intermediate Government/Credit Bond ETF	3.57%	3.48%	3.40%	2.75%	1.86%	1.46%	1.84%	2.29%	2.16%	1.91%	1.77%	1.75%
BND Vanguard Total Bond Market ETF	3.93%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%

Drawdowns

GVI vs. BND - Drawdown Comparison

The maximum GVI drawdown since its inception was -12.93%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for GVI and BND.

Drawdown Indicators

	GVI	BND	Difference
Max Drawdown Largest peak-to-trough decline	-12.93%	-18.58%	+5.65%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-2.44%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-12.93%	-17.91%	+4.98%
Max Drawdown (10Y) Largest decline over 10 years	-12.93%	-18.58%	+5.65%
Current Drawdown Current decline from peak	-1.20%	-2.54%	+1.34%
Average Drawdown Average peak-to-trough decline	-1.87%	-3.07%	+1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.90%	-0.41%

Volatility

GVI vs. BND - Volatility Comparison

The current volatility for iShares Intermediate Government/Credit Bond ETF (GVI) is 1.09%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.63%. This indicates that GVI 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.

Volatility by Period

	GVI	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.63%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	2.52%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	2.74%	4.30%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.97%	6.00%	-2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.52%	5.52%	-2.00%