IMTB vs. BIV
IMTB (iShares Core 5-10 Year USD Bond ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both exchange-traded funds - IMTB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal 5-10 Years 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 5 years, IMTB returned 0.58%/yr vs 0.28%/yr for BIV. Their correlation of 0.82 suggests significant overlap in exposure. IMTB charges 0.06%/yr vs 0.03%/yr for BIV.
Performance
IMTB vs. BIV - Performance Comparison
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Returns By Period
In the year-to-date period, IMTB achieves a 0.14% return, which is significantly higher than BIV's -0.11% return.
IMTB
- 1D
- 0.16%
- 1M
- 0.13%
- YTD
- 0.14%
- 6M
- 0.49%
- 1Y
- 5.66%
- 3Y*
- 4.82%
- 5Y*
- 0.58%
- 10Y*
- —
BIV
- 1D
- 0.13%
- 1M
- 0.04%
- YTD
- -0.11%
- 6M
- -0.10%
- 1Y
- 4.33%
- 3Y*
- 4.34%
- 5Y*
- 0.28%
- 10Y*
- 1.93%
IMTB vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMTB iShares Core 5-10 Year USD Bond ETF | 0.14% | 8.88% | 1.94% | 6.10% | -12.75% | -1.41% | 6.25% | 8.62% | -0.45% | 4.88% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.11% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
Correlation
The correlation between IMTB and BIV is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2016 | 0.82 |
The correlation between IMTB and BIV shifts across timeframes, from 0.82 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IMTB vs. BIV — Risk / Return Rank
IMTB
BIV
IMTB vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 5-10 Year USD Bond ETF (IMTB) 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.
| IMTB | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.19 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.37 | +0.62 |
| Martin ratioReturn relative to average drawdown | 6.13 | 4.13 | +2.00 |
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
| IMTB | BIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.08 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.04 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.65 | -0.28 |
Drawdowns
IMTB vs. BIV - Drawdown Comparison
The maximum IMTB drawdown since its inception was -18.15%, roughly equal to the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for IMTB and BIV.
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Drawdown Indicators
| IMTB | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.15% | -18.95% | +0.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -3.18% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -6.80% | -6.07% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -18.11% | -18.74% | +0.63% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.95% | — |
Current DrawdownCurrent decline from peak | -1.58% | -1.91% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -3.39% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.05% | -0.13% |
Volatility
IMTB vs. BIV - Volatility Comparison
iShares Core 5-10 Year USD Bond ETF (IMTB) has a higher volatility of 1.46% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.36%. This indicates that IMTB'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
| IMTB | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.36% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 2.90% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 4.06% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 6.40% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.18% | 5.50% | -0.32% |
IMTB vs. BIV - Expense Ratio Comparison
IMTB has a 0.06% 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
IMTB vs. BIV - Dividend Comparison
IMTB's dividend yield for the trailing twelve months is around 4.52%, more than BIV's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.21% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
IMTB iShares Core 5-10 Year USD Bond ETF | 4.52% | 4.40% | 4.42% | 4.13% | 2.90% | 2.49% | 2.63% | 2.91% | 3.04% | 2.75% | 0.40% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, IMTB and BIV 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.
IMTB has higher volatility (1.46%) compared to BIV (1.36%). In terms of maximum drawdown, IMTB dropped -18.15% vs BIV's -18.95%.
On 5-year performance, IMTB leads with 0.58% vs 0.28% for BIV. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IMTB has performed better with a 0.58% return vs 0.28%. 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 0.06% for IMTB.
IMTB has the higher dividend yield at 4.52%, compared with 4.21% for BIV.
IMTB is categorized as Intermediate Core-Plus Bond, while BIV is Intermediate Core Bond. IMTB tracks Bloomberg U.S. Universal 5-10 Years 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: 0.06% for IMTB and 0.03% for BIV.
IMTB currently has the higher Sharpe Ratio (1.41 vs 1.08), 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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