VB vs. BIV
VB (Vanguard Small-Cap ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both exchange-traded funds - VB is a Small Cap Blend Equities fund tracking the CRSP US Small 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, VB returned 11.61%/yr vs 1.89%/yr for BIV. At a correlation of -0.15, they often move in opposite directions. VB charges 0.05%/yr vs 0.03%/yr for BIV.
Performance
VB vs. BIV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VB achieves a 15.33% return, which is significantly higher than BIV's -0.06% return. Over the past 10 years, VB has outperformed BIV with an annualized return of 11.61%, while BIV has yielded a comparatively lower 1.89% annualized return.
VB
- 1D
- 0.70%
- 1M
- 5.17%
- YTD
- 15.33%
- 6M
- 13.69%
- 1Y
- 30.83%
- 3Y*
- 16.14%
- 5Y*
- 6.98%
- 10Y*
- 11.61%
BIV
- 1D
- -0.13%
- 1M
- 0.92%
- YTD
- -0.06%
- 6M
- 0.31%
- 1Y
- 4.61%
- 3Y*
- 4.62%
- 5Y*
- 0.16%
- 10Y*
- 1.89%
VB vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VB Vanguard Small-Cap ETF | 15.33% | 8.87% | 14.17% | 18.22% | -17.51% | 17.57% | 19.19% | 27.34% | -9.34% | 16.26% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.06% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
Correlation
The correlation between VB and BIV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | -0.15 |
The correlation between VB and BIV shifts across timeframes, from -0.15 (all time) to 0.36 (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.
Return for Risk
VB vs. BIV — Risk / Return Rank
VB
BIV
VB vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) 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.
| VB | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.19 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 1.36 | +1.86 |
| Martin ratioReturn relative to average drawdown | 11.80 | 3.90 | +7.90 |
Loading charts...
Drawdowns
VB vs. BIV - Drawdown Comparison
The maximum VB drawdown since its inception was -59.56%, which is greater than BIV's maximum drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for VB and BIV.
Loading charts...
Drawdown Indicators
| VB | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.56% | -18.95% | -40.61% |
Max Drawdown (1Y)Largest decline over 1 year | -8.98% | -3.18% | -5.80% |
Max Drawdown (3Y)Largest decline over 3 years | -25.36% | -6.07% | -19.29% |
Max Drawdown (5Y)Largest decline over 5 years | -28.15% | -18.74% | -9.41% |
Max Drawdown (10Y)Largest decline over 10 years | -42.05% | -18.95% | -23.10% |
Current DrawdownCurrent decline from peak | 0.00% | -1.86% | +1.86% |
Average DrawdownAverage peak-to-trough decline | -8.43% | -3.39% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 1.10% | +1.34% |
Volatility
VB vs. BIV - Volatility Comparison
Vanguard Small-Cap ETF (VB) has a higher volatility of 5.41% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.45%. This indicates that VB'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.
Loading charts...
Volatility by Period
| VB | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.41% | 1.45% | +3.96% |
Volatility (6M)Calculated over the trailing 6-month period | 12.24% | 2.98% | +9.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.68% | 4.03% | +12.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.80% | 6.41% | +14.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.44% | 5.51% | +15.93% |
VB vs. BIV - Expense Ratio Comparison
VB has a 0.05% 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
VB vs. BIV - Dividend Comparison
VB's dividend yield for the trailing twelve months is around 1.18%, less 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% |
VB Vanguard Small-Cap ETF | 1.18% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
Frequently Asked Questions
VB and BIV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VB has higher volatility (5.41%) compared to BIV (1.45%). In terms of maximum drawdown, VB dropped -59.56% vs BIV's -18.95%.
On 10-year performance, VB leads with 11.61% vs 1.89% for BIV. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VB has performed better with a 11.61% return vs 1.89%. 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 0.05% for VB.
BIV has the higher dividend yield at 4.21%, compared with 1.18% for VB.
VB is categorized as Small Cap Blend Equities, while BIV is Intermediate Core Bond. VB tracks CRSP US Small Cap Index, while BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. Their fees differ too: 0.05% for VB and 0.03% for BIV.
VB currently has the higher Sharpe Ratio (1.73 vs 1.07), 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.
Find the right allocation for VB and BIV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer