GVI vs. SLQD
GVI (iShares Intermediate Government/Credit Bond ETF) and SLQD (iShares 0-5 Year Investment Grade Corporate Bond ETF) are both exchange-traded funds - GVI is a Short-Term Bond fund tracking the Bloomberg U.S. Intermediate Government/Credit Bond, while SLQD is a Corporate Bonds fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 Index. Both are passively managed. Over the past 10 years, GVI returned 1.80%/yr vs 2.66%/yr for SLQD. A 0.71 correlation means they provide meaningful diversification when combined. GVI charges 0.20%/yr vs 0.06%/yr for SLQD.
Performance
GVI vs. SLQD - Performance Comparison
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Returns By Period
Over the past 10 years, GVI has underperformed SLQD with an annualized return of 1.80%, while SLQD has yielded a comparatively higher 2.66% annualized return.
GVI
- 1D
- -0.13%
- 1M
- -0.00%
- YTD
- -0.00%
- 6M
- 0.05%
- 1Y
- 3.89%
- 3Y*
- 4.18%
- 5Y*
- 0.98%
- 10Y*
- 1.80%
SLQD
- 1D
- -0.08%
- 1M
- 0.24%
- YTD
- 0.84%
- 6M
- 1.16%
- 1Y
- 4.46%
- 3Y*
- 5.35%
- 5Y*
- 2.52%
- 10Y*
- 2.66%
GVI vs. SLQD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GVI iShares Intermediate Government/Credit Bond ETF | -0.00% | 6.66% | 2.92% | 5.15% | -8.28% | -1.90% | 6.38% | 6.54% | 0.77% | 1.83% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 0.84% | 6.27% | 4.94% | 5.98% | -4.38% | -0.61% | 4.76% | 6.09% | 1.09% | 2.12% |
Correlation
The correlation between GVI and SLQD 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 | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2013 | 0.71 |
Over the past year, GVI and SLQD have become more correlated (0.91) than their long-term average of 0.71, meaning their price movements have been converging.
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Return for Risk
GVI vs. SLQD — Risk / Return Rank
GVI
SLQD
GVI vs. SLQD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Intermediate Government/Credit Bond ETF (GVI) and iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD). 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 | SLQD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.62 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 4.22 | -2.04 |
| Martin ratioReturn relative to average drawdown | 6.60 | 19.08 | -12.49 |
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
| GVI | SLQD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 3.02 | -1.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 1.04 | -0.79 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.85 | -0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.85 | -0.08 |
Drawdowns
GVI vs. SLQD - Drawdown Comparison
The maximum GVI drawdown since its inception was -12.93%, roughly equal to the maximum SLQD drawdown of -12.69%. Use the drawdown chart below to compare losses from any high point for GVI and SLQD.
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Drawdown Indicators
| GVI | SLQD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.93% | -12.69% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -1.79% | -1.06% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -2.65% | -1.06% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -12.93% | -7.63% | -5.30% |
Max Drawdown (10Y)Largest decline over 10 years | -12.93% | -12.69% | -0.24% |
Current DrawdownCurrent decline from peak | -1.17% | -0.13% | -1.04% |
Average DrawdownAverage peak-to-trough decline | -1.86% | -0.87% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.59% | 0.23% | +0.36% |
Volatility
GVI vs. SLQD - Volatility Comparison
iShares Intermediate Government/Credit Bond ETF (GVI) has a higher volatility of 0.77% compared to iShares 0-5 Year Investment Grade Corporate Bond ETF (SLQD) at 0.46%. This indicates that GVI's price experiences larger fluctuations and is considered to be riskier than SLQD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GVI | SLQD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 0.46% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 1.78% | 1.09% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.50% | 1.49% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.97% | 2.44% | +1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.53% | 3.14% | +0.39% |
GVI vs. SLQD - Expense Ratio Comparison
GVI has a 0.20% expense ratio, which is higher than SLQD's 0.06% 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%.
Dividends
GVI vs. SLQD - Dividend Comparison
GVI's dividend yield for the trailing twelve months is around 3.62%, less than SLQD's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GVI iShares Intermediate Government/Credit Bond ETF | 3.62% | 3.48% | 3.40% | 2.75% | 1.86% | 1.46% | 1.84% | 2.29% | 2.16% | 1.91% | 1.77% | 1.75% |
SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 4.32% | 4.15% | 3.71% | 2.99% | 2.00% | 1.67% | 2.34% | 2.89% | 2.55% | 1.98% | 1.81% | 1.43% |
Frequently Asked Questions
With a correlation of 0.91, GVI and SLQD 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.
GVI has higher volatility (0.77%) compared to SLQD (0.46%). In terms of maximum drawdown, GVI dropped -12.93% vs SLQD's -12.69%.
On 10-year performance, SLQD leads with 2.66% vs 1.80% for GVI. On fees, SLQD is cheaper at 0.06% per year. On volatility, SLQD has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLQD has performed better with a 2.66% return vs 1.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLQD is cheaper with a 0.06% expense ratio, compared with 0.20% for GVI.
SLQD has the higher dividend yield at 4.32%, compared with 3.62% for GVI.
GVI is categorized as Short-Term Bond, while SLQD is Corporate Bonds. GVI tracks Bloomberg U.S. Intermediate Government/Credit Bond, while SLQD tracks Markit iBoxx USD Liquid Investment Grade 0-5 Index. Their fees differ too: 0.20% for GVI and 0.06% for SLQD.
SLQD currently has the higher Sharpe Ratio (3.02 vs 1.56), 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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