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IVOG vs. BND
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IVOG vs. BND

Last updated Jun 4, 2026

IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - IVOG is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 10 years, IVOG returned 11.61%/yr vs 1.58%/yr for BND. At a correlation of -0.05, they often move in opposite directions. IVOG charges 0.15%/yr vs 0.03%/yr for BND.

Performance

IVOG vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IVOG achieves a 19.25% return, which is significantly higher than BND's 0.27% return. Over the past 10 years, IVOG has outperformed BND with an annualized return of 11.61%, while BND has yielded a comparatively lower 1.58% annualized return.

IVOG

1D
0.27%
1M
5.95%
YTD
19.25%
6M
19.31%
1Y
30.31%
3Y*
18.06%
5Y*
8.64%
10Y*
11.61%

BND

1D
-0.19%
1M
0.27%
YTD
0.27%
6M
0.12%
1Y
5.11%
3Y*
3.96%
5Y*
0.09%
10Y*
1.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IVOG vs. BND - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IVOG
Vanguard S&P Mid-Cap 400 Growth ETF		19.25%7.34%15.62%17.36%-19.08%18.85%22.60%26.13%-10.58%19.90%
BND
Vanguard Total Bond Market ETF		0.27%7.08%1.38%5.65%-13.11%-1.86%7.71%8.84%-0.12%3.57%

Correlation

The correlation between IVOG and BND is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.25

Correlation (5Y)
Calculated over the trailing 5-year period

0.18

Correlation (10Y)
Calculated over the trailing 10-year period

0.05

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2010

-0.05

The correlation between IVOG and BND shifts across timeframes, from -0.05 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard S&P Mid-Cap 400 Growth ETF

Vanguard Total Bond Market ETF

Often compared with IVOG:
IVOG vs. VOTIVOG vs. VOIVOG vs. IVOVIVOG vs. VOOIVOG vs. FCNTXIVOG vs. RFGIVOG vs. VOOG
Often compared with BND:
BND vs. BNDXBND vs. FXNAXBND vs. AGGBND vs. FBNDBND vs. BNDWBND vs. TLTBND vs. VBTLX

Return for Risk

IVOG vs. BND — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IVOG
IVOG Risk / Return Rank: 5656
Overall Rank
IVOG Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
IVOG Sortino Ratio Rank: 5252
Sortino Ratio Rank
IVOG Omega Ratio Rank: 4949
Omega Ratio Rank
IVOG Calmar Ratio Rank: 6363
Calmar Ratio Rank
IVOG Martin Ratio Rank: 6666
Martin Ratio Rank
BND
BND Risk / Return Rank: 3737
Overall Rank
BND Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
BND Sortino Ratio Rank: 3939
Sortino Ratio Rank
BND Omega Ratio Rank: 3535
Omega Ratio Rank
BND Calmar Ratio Rank: 3838
Calmar Ratio Rank
BND Martin Ratio Rank: 3636
Martin Ratio Rank
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.

IVOG vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) 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.

IVOGBNDDifference
Sharpe ratioReturn per unit of total volatility
1.78
1.36

+0.42

Sortino ratioReturn per unit of downside risk
2.56
2.03

+0.52

Omega ratioGain probability vs. loss probability

1.31

1.24

+0.07

Calmar ratioReturn relative to maximum drawdown

3.14

1.92

+1.23

Martin ratioReturn relative to average drawdown

12.34

5.80

+6.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVOG vs. BND - Sharpe Ratio Comparison

The current IVOG Sharpe Ratio is 1.78, which is higher than the BND Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of IVOG and BND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IVOGBNDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.78

1.36

+0.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

0.01

+0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.29

+0.28

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.59

+0.06

Drawdowns

IVOG vs. BND - Drawdown Comparison

The maximum IVOG drawdown since its inception was -39.32%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for IVOG and BND.

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Drawdown Indicators

IVOGBNDDifference

Max Drawdown

Largest peak-to-trough decline

-39.32%

-18.58%

-20.74%

Max Drawdown (1Y)

Largest decline over 1 year

-9.69%

-2.68%

-7.01%

Max Drawdown (3Y)

Largest decline over 3 years

-25.61%

-5.92%

-19.69%

Max Drawdown (5Y)

Largest decline over 5 years

-29.31%

-17.91%

-11.40%

Max Drawdown (10Y)

Largest decline over 10 years

-39.32%

-18.58%

-20.74%

Current Drawdown

Current decline from peak

0.00%

-2.37%

+2.37%

Average Drawdown

Average peak-to-trough decline

-5.88%

-3.06%

-2.82%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.46%

0.88%

+1.58%

Volatility

IVOG vs. BND - Volatility Comparison

Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a higher volatility of 5.18% compared to Vanguard Total Bond Market ETF (BND) at 1.23%. This indicates that IVOG's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IVOGBNDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.18%

1.23%

+3.95%

Volatility (6M)

Calculated over the trailing 6-month period

13.19%

2.66%

+10.53%

Volatility (1Y)

Calculated over the trailing 1-year period

17.14%

3.78%

+13.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.61%

6.02%

+14.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.59%

5.53%

+15.06%

IVOG vs. BND - Expense Ratio Comparison

IVOG has a 0.15% 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%.

Dividends

IVOG vs. BND - Dividend Comparison

IVOG's dividend yield for the trailing twelve months is around 0.54%, less than BND's 3.97% yield.

PositionTTM20252024202320222021202020192018201720162015
BND
Vanguard Total Bond Market ETF		3.97%3.86%3.67%3.09%2.60%2.12%2.38%2.72%2.81%2.54%2.51%2.57%
IVOG
Vanguard S&P Mid-Cap 400 Growth ETF		0.54%0.64%0.79%1.15%1.05%0.47%0.74%1.17%1.01%0.93%1.11%1.04%

Frequently Asked Questions

IVOG and BND have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IVOG has higher volatility (5.18%) compared to BND (1.23%). In terms of maximum drawdown, IVOG dropped -39.32% vs BND's -18.58%.

On 10-year performance, IVOG leads with 11.61% vs 1.58% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IVOG has performed better with a 11.61% return vs 1.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BND is cheaper with a 0.03% expense ratio, compared with 0.15% for IVOG.

BND has the higher dividend yield at 3.97%, compared with 0.54% for IVOG.

IVOG is categorized as Small Cap Growth Equities, while BND is Total Bond Market. IVOG tracks S&P MidCap 400 Growth Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. Their fees differ too: 0.15% for IVOG and 0.03% for BND.

IVOG currently has the higher Sharpe Ratio (1.78 vs 1.36), 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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