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USD=X vs. BIV
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. BIV

Last updated Jun 9, 2026

USD=X (USD Cash) is a currency, while BIV (Vanguard Intermediate-Term Bond Index ETF) is Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. Over the past 10 years, USD=X returned 0.00%/yr vs 1.83%/yr for BIV.

Performance

USD=X vs. BIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Vanguard Intermediate-Term Bond Index ETF (BIV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. BIV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
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%

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USD Cash

Vanguard Intermediate-Term Bond Index ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with BIV:
BIV vs. BNDBIV vs. BLVBIV vs. VFICXBIV vs. SCHPBIV vs. BNDXBIV vs. VGSHBIV vs. AGG

Return for Risk

USD=X vs. BIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
USD=X
BIV
BIV Risk / Return Rank: 3434
Overall Rank
BIV Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
BIV Sortino Ratio Rank: 3737
Sortino Ratio Rank
BIV Omega Ratio Rank: 3333
Omega Ratio Rank
BIV Calmar Ratio Rank: 3333
Calmar Ratio Rank
BIV Martin Ratio Rank: 3232
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.

USD=X vs. BIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

USD=X vs. BIV - Sharpe Ratio Comparison

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Sharpe Ratios by Period

USD=XBIVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

1.18

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.01

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.33

—

Sharpe Ratio (All Time)

Calculated using the full available price history

—

0.64

—

Drawdowns

USD=X vs. BIV - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for USD=X and BIV.

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Drawdown Indicators

USD=XBIVDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-18.95%

+18.95%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-3.18%

+3.18%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-6.07%

+6.07%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-18.74%

+18.74%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-18.95%

+18.95%

Current Drawdown

Current decline from peak

0.00%

-2.46%

+2.46%

Average Drawdown

Average peak-to-trough decline

0.00%

-3.39%

+3.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

1.07%

-1.07%

Volatility

USD=X vs. BIV - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Vanguard Intermediate-Term Bond Index ETF (BIV) has a volatility of 1.35%. This indicates that USD=X experiences smaller price fluctuations and is considered to be less risky 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

USD=XBIVDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

1.35%

-1.35%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

2.93%

-2.93%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

4.00%

-4.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

6.40%

-6.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

5.51%

-5.51%

Frequently Asked Questions

BIV has higher volatility (1.35%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs BIV's -18.95%.

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