IMCB vs. BIV
IMCB (iShares Morningstar Mid-Cap ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both exchange-traded funds - IMCB is a Mid Cap Blend Equities fund tracking the IMCB-US - Morningstar U.S. Mid Cap 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, IMCB returned 11.18%/yr vs 1.83%/yr for BIV. At a correlation of -0.15, they often move in opposite directions. IMCB charges 0.04%/yr vs 0.03%/yr for BIV.
Performance
IMCB vs. BIV - Performance Comparison
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Returns By Period
In the year-to-date period, IMCB achieves a 12.99% return, which is significantly higher than BIV's -0.67% return. Over the past 10 years, IMCB has outperformed BIV with an annualized return of 11.18%, while BIV has yielded a comparatively lower 1.83% annualized return.
IMCB
- 1D
- 0.09%
- 1M
- 2.56%
- YTD
- 12.99%
- 6M
- 13.23%
- 1Y
- 20.86%
- 3Y*
- 16.89%
- 5Y*
- 8.49%
- 10Y*
- 11.18%
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%
IMCB vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMCB iShares Morningstar Mid-Cap ETF | 12.99% | 10.25% | 15.10% | 16.37% | -16.09% | 22.81% | 13.35% | 31.49% | -11.53% | 19.70% |
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 IMCB and BIV is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2007 | -0.15 |
The correlation between IMCB and BIV shifts across timeframes, from -0.15 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IMCB vs. BIV — Risk / Return Rank
IMCB
BIV
IMCB vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Mid-Cap ETF (IMCB) 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.
| IMCB | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 1.49 | +1.12 |
| Martin ratioReturn relative to average drawdown | 10.27 | 4.40 | +5.87 |
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
| IMCB | BIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 1.18 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.01 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.33 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.64 | -0.14 |
Drawdowns
IMCB vs. BIV - Drawdown Comparison
The maximum IMCB drawdown since its inception was -58.80%, which is greater than BIV's maximum drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for IMCB and BIV.
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Drawdown Indicators
| IMCB | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.80% | -18.95% | -39.85% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -3.18% | -4.87% |
Max Drawdown (3Y)Largest decline over 3 years | -19.80% | -6.07% | -13.73% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -18.74% | -6.41% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -18.95% | -22.04% |
Current DrawdownCurrent decline from peak | -2.19% | -2.46% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -7.73% | -3.39% | -4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.07% | +0.97% |
Volatility
IMCB vs. BIV - Volatility Comparison
iShares Morningstar Mid-Cap ETF (IMCB) has a higher volatility of 3.73% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.35%. This indicates that IMCB'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
| IMCB | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.73% | 1.35% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 2.93% | +6.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.96% | 4.00% | +8.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.60% | 6.40% | +11.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.67% | 5.51% | +14.16% |
IMCB vs. BIV - Expense Ratio Comparison
IMCB 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
IMCB vs. BIV - Dividend Comparison
IMCB's dividend yield for the trailing twelve months is around 1.23%, 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% |
IMCB iShares Morningstar Mid-Cap ETF | 1.23% | 1.42% | 1.43% | 1.55% | 1.70% | 1.08% | 1.12% | 1.32% | 1.80% | 1.31% | 1.79% | 1.47% |
Frequently Asked Questions
IMCB and BIV have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMCB has higher volatility (3.73%) compared to BIV (1.35%). In terms of maximum drawdown, IMCB dropped -58.80% vs BIV's -18.95%.
On 10-year performance, IMCB leads with 11.18% 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, IMCB has performed better with a 11.18% 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 IMCB.
BIV has the higher dividend yield at 4.24%, compared with 1.23% for IMCB.
IMCB is categorized as Mid Cap Blend Equities, while BIV is Intermediate Core Bond. IMCB tracks IMCB-US - Morningstar U.S. Mid Cap 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 IMCB and 0.03% for BIV.
IMCB currently has the higher Sharpe Ratio (1.62 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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