USFI vs. BIV

Last updated Jul 17, 2026

USFI (BrandywineGLOBAL - U.S. Fixed Income ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both exchange-traded funds - USFI is a Actively Managed fund actively managed by BrandywineGLOBAL, while BIV is a Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. USFI is actively managed, while BIV is passively managed. Over the past year, USFI returned 5.51% vs 3.89% for BIV. Their correlation of 0.92 suggests significant overlap in exposure. USFI charges 0.39%/yr vs 0.03%/yr for BIV.

Performance

USFI vs. BIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) and Vanguard Intermediate-Term Bond Index ETF (BIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USFI achieves a 0.97% return, which is significantly higher than BIV's -0.21% return.

USFI

• 1D: -0.20%
• 1M: -0.47%
• 6M: 0.80%
• YTD: 0.97%
• 1Y: 5.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BIV

• 1D: -0.05%
• 1M: -0.41%
• 6M: -0.31%
• YTD: -0.21%
• 1Y: 3.89%
• 3Y*: 4.31%
• 5Y*: -0.01%
• 10Y*: 1.78%

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

USFI vs. BIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	0.97%	6.96%	1.11%	2.95%
BIV Vanguard Intermediate-Term Bond Index ETF	-0.21%	8.52%	1.57%	3.26%

Correlation

The correlation between USFI and BIV is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Jul 27, 2023	0.92

The correlation between USFI and BIV has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

USFI vs. BIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USFI

USFI Risk / Return Rank: 77
USFI Sharpe Ratio Rank: 65
USFI Sortino Ratio Rank: 76
USFI Omega Ratio Rank: 69
USFI Calmar Ratio Rank: 93
USFI Martin Ratio Rank: 82

BIV

BIV Risk / Return Rank: 30
BIV Sharpe Ratio Rank: 32
BIV Sortino Ratio Rank: 31
BIV Omega Ratio Rank: 29
BIV Calmar Ratio Rank: 30
BIV Martin Ratio Rank: 28

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.

USFI vs. BIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	USFI	BIV	Difference
Sharpe ratio: Return per unit of total volatility	1.70	0.97	+0.73
Sortino ratio: Return per unit of downside risk	2.76	1.44	+1.32
Omega ratio: Gain probability vs. loss probability	1.33	1.17	+0.16
Calmar ratio: Return relative to maximum drawdown	5.17	1.23	+3.94
Martin ratio: Return relative to average drawdown	12.51	3.21	+9.30

USFI vs. BIV - Sharpe Ratio Comparison

The current USFI Sharpe Ratio is 1.70, which is higher than the BIV Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of USFI and BIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

USFI vs. BIV - Drawdown Comparison

The maximum USFI drawdown since its inception was -8.47%, smaller than the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for USFI and BIV.

Drawdown Indicators

	USFI	BIV	Difference
Max Drawdown Largest peak-to-trough decline	-8.47%	-18.95%	+10.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.07%	-3.18%	+2.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-6.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.95%	—
Current Drawdown Current decline from peak	-0.60%	-2.01%	+1.41%
Average Drawdown Average peak-to-trough decline	-2.08%	-3.38%	+1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	1.22%	-0.78%

Volatility

USFI vs. BIV - Volatility Comparison

The current volatility for BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) is 0.88%, while Vanguard Intermediate-Term Bond Index ETF (BIV) has a volatility of 1.26%. This indicates that USFI 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.

Volatility by Period

	USFI	BIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	1.26%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	1.61%	3.15%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.26%	4.04%	-0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.89%	6.41%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.89%	5.50%	+1.39%

USFI vs. BIV - Expense Ratio Comparison

USFI has a 0.39% expense ratio, which is higher than BIV's 0.03% expense ratio.

Dividends

USFI vs. BIV - Dividend Comparison

USFI's dividend yield for the trailing twelve months is around 4.44%, more than BIV's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIV Vanguard Intermediate-Term Bond Index ETF	4.25%	4.01%	3.79%	3.09%	2.41%	3.42%	2.95%	2.75%	2.88%	2.69%	3.01%	3.02%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	4.44%	4.42%	4.60%	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USFI and BIV in my portfolio?

USFI and BIV have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USFI or BIV?

BIV has higher volatility (1.26%) compared to USFI (0.88%). In terms of maximum drawdown, USFI dropped -8.47% vs BIV's -18.95%.

Which ETF is better, USFI or BIV?

On 1-year performance, USFI leads with 5.51% vs 3.89% for BIV. On fees, BIV is cheaper at 0.03% per year. On volatility, USFI has been the lower-risk option at 0.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USFI or BIV?

Over the 1-year period, USFI has performed better with a 5.51% return vs 3.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USFI or BIV?

BIV is cheaper with a 0.03% expense ratio, compared with 0.39% for USFI.

Which ETF pays a higher dividend yield, USFI or BIV?

USFI has the higher dividend yield at 4.44%, compared with 4.25% for BIV.

What is the main difference between USFI and BIV?

USFI is categorized as Actively Managed, while BIV is Intermediate Core Bond. They also come from different issuers: BrandywineGLOBAL and Vanguard. Their fees differ too: 0.39% for USFI and 0.03% for BIV.

Which has better risk-adjusted returns?

USFI currently has the higher Sharpe Ratio (1.70 vs 0.97), 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.