ILCV vs. BIV
ILCV (iShares Morningstar Value ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both exchange-traded funds - ILCV is a Large Cap Value Equities fund tracking the Morningstar US Large-Mid Cap Broad Value Index, while BIV is a Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. Both are passively managed. Over the past 10 years, ILCV returned 11.58%/yr vs 1.83%/yr for BIV. At a correlation of -0.18, they often move in opposite directions. ILCV charges 0.04%/yr vs 0.03%/yr for BIV.
Performance
ILCV vs. BIV - Performance Comparison
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Returns By Period
In the year-to-date period, ILCV achieves a 7.35% return, which is significantly higher than BIV's -0.67% return. Over the past 10 years, ILCV has outperformed BIV with an annualized return of 11.58%, while BIV has yielded a comparatively lower 1.83% annualized return.
ILCV
- 1D
- -0.06%
- 1M
- 1.03%
- YTD
- 7.35%
- 6M
- 7.96%
- 1Y
- 25.66%
- 3Y*
- 18.09%
- 5Y*
- 11.47%
- 10Y*
- 11.58%
BIV
- 1D
- -0.05%
- 1M
- -0.94%
- YTD
- -0.67%
- 6M
- -0.33%
- 1Y
- 4.70%
- 3Y*
- 4.27%
- 5Y*
- 0.08%
- 10Y*
- 1.83%
ILCV vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ILCV iShares Morningstar Value ETF | 7.35% | 18.79% | 17.03% | 14.43% | -7.02% | 26.71% | -0.84% | 25.19% | -6.24% | 15.00% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.67% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
Correlation
The correlation between ILCV and BIV is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | -0.18 |
The correlation between ILCV and BIV shifts across timeframes, from -0.18 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ILCV vs. BIV — Risk / Return Rank
ILCV
BIV
ILCV vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Value ETF (ILCV) and Vanguard Intermediate-Term Bond Index ETF (BIV). 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.
| ILCV | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.21 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.93 | 1.49 | +2.45 |
| Martin ratioReturn relative to average drawdown | 16.24 | 4.40 | +11.84 |
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
| ILCV | BIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.61 | 1.18 | +1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.01 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.33 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.64 | -0.18 |
Drawdowns
ILCV vs. BIV - Drawdown Comparison
The maximum ILCV drawdown since its inception was -58.63%, which is greater than BIV's maximum drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for ILCV and BIV.
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Drawdown Indicators
| ILCV | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.63% | -18.95% | -39.68% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -3.18% | -3.37% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | -6.07% | -8.88% |
Max Drawdown (5Y)Largest decline over 5 years | -18.58% | -18.74% | +0.16% |
Max Drawdown (10Y)Largest decline over 10 years | -35.53% | -18.95% | -16.58% |
Current DrawdownCurrent decline from peak | -1.33% | -2.46% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -9.32% | -3.39% | -5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 1.07% | +0.51% |
Volatility
ILCV vs. BIV - Volatility Comparison
iShares Morningstar Value ETF (ILCV) has a higher volatility of 2.33% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.35%. This indicates that ILCV's price experiences larger fluctuations and is considered to be riskier than BIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ILCV | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.33% | 1.35% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 7.12% | 2.93% | +4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.90% | 4.00% | +5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.23% | 6.40% | +7.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.67% | 5.51% | +11.16% |
ILCV vs. BIV - Expense Ratio Comparison
ILCV has a 0.04% expense ratio, which is higher than BIV'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%.
Dividends
ILCV vs. BIV - Dividend Comparison
ILCV's dividend yield for the trailing twelve months is around 1.63%, less than BIV's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.24% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
ILCV iShares Morningstar Value ETF | 1.63% | 1.77% | 1.99% | 2.27% | 2.32% | 2.01% | 2.96% | 2.70% | 2.93% | 2.32% | 2.76% | 3.01% |
Frequently Asked Questions
ILCV and BIV have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ILCV has higher volatility (2.33%) compared to BIV (1.35%). In terms of maximum drawdown, ILCV dropped -58.63% vs BIV's -18.95%.
On 10-year performance, ILCV leads with 11.58% vs 1.83% for BIV. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ILCV has performed better with a 11.58% return vs 1.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIV is cheaper with a 0.03% expense ratio, compared with 0.04% for ILCV.
BIV has the higher dividend yield at 4.24%, compared with 1.63% for ILCV.
ILCV is categorized as Large Cap Value Equities, while BIV is Intermediate Core Bond. ILCV tracks Morningstar US Large-Mid Cap Broad Value Index, while BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.04% for ILCV and 0.03% for BIV.
ILCV currently has the higher Sharpe Ratio (2.61 vs 1.18), 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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