VBIMX vs. BIV
VBIMX (Vanguard Intermediate-Term Bond Index Fund Institutional Shares) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both funds - VBIMX is a Total Bond Market fund managed by Vanguard, while BIV is a Intermediate Core Bond fund tracking the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. Over the past 10 years, VBIMX returned 1.63%/yr vs 1.71%/yr for BIV. Their correlation of 0.92 means they have usually moved in the same direction. VBIMX charges 0.05%/yr vs 0.03%/yr for BIV.
Performance
VBIMX vs. BIV - Performance Comparison
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Returns By Period
In the year-to-date period, VBIMX achieves a -1.32% return, which is significantly lower than BIV's -0.71% return. Both investments have delivered pretty close results over the past 10 years, with VBIMX having a 1.63% annualized return and BIV not far ahead at 1.71%.
VBIMX
- 1D
- -0.29%
- 1M
- -1.35%
- 6M
- -1.11%
- YTD
- -1.32%
- 1Y
- 1.07%
- 3Y*
- 4.16%
- 5Y*
- -0.41%
- 10Y*
- 1.63%
- ALL TIME*
- 3.62%
BIV
- 1D
- 0.22%
- 1M
- -0.95%
- 6M
- -0.57%
- YTD
- -0.71%
- 1Y
- 1.62%
- 3Y*
- 4.43%
- 5Y*
- -0.28%
- 10Y*
- 1.71%
- ALL TIME*
- 3.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $101.25M | $129.17M | $122.60M | |
| $0.00 | $0.00 | $0.00 |
VBIMX vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VBIMX Vanguard Intermediate-Term Bond Index Fund Institutional Shares | -1.32% | 8.59% | 1.55% | 5.78% | -13.25% | -2.50% | 9.83% | 10.22% | -0.13% | 3.89% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.71% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 10.34% | -0.19% | 3.65% |
Correlation
The correlation between VBIMX and BIV is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.92 |
The correlation between VBIMX and BIV has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
VBIMX vs. BIV — Risk / Return Rank
VBIMX
BIV
VBIMX vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) 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.
| VBIMX | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.07 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 0.51 | +0.09 |
| Martin ratioReturn relative to average drawdown | 1.42 | 1.22 | +0.21 |
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Drawdowns
VBIMX vs. BIV - Drawdown Comparison
The maximum VBIMX drawdown since its inception was -19.07%, roughly equal to the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for VBIMX and BIV.
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Drawdown Indicators
| VBIMX | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -18.95% | -0.12% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.18% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.20% | -5.21% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -18.51% | -18.45% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | -18.95% | -0.12% |
Current DrawdownCurrent decline from peak | -3.09% | -2.50% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -3.38% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 1.33% | +0.11% |
Volatility
VBIMX vs. BIV - Volatility Comparison
Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) and Vanguard Intermediate-Term Bond Index ETF (BIV) have volatilities of 1.05% and 1.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBIMX | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.08% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 3.18% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 3.91% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 6.41% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.38% | 5.50% | -0.12% |
VBIMX vs. BIV - Expense Ratio Comparison
VBIMX 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
VBIMX vs. BIV - Dividend Comparison
VBIMX's dividend yield for the trailing twelve months is around 3.97%, less than BIV's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.32% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
VBIMX Vanguard Intermediate-Term Bond Index Fund Institutional Shares | 3.97% | 4.03% | 3.82% | 2.82% | 2.41% | 3.23% | 2.95% | 2.75% | 2.89% | 2.76% | 3.08% | 3.12% |
Frequently Asked Questions
With a correlation of 0.94, VBIMX 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.
BIV has higher volatility (1.08%) compared to VBIMX (1.05%). In terms of maximum drawdown, VBIMX dropped -19.07% vs BIV's -18.95%.
VBIMX currently has the higher Sharpe Ratio (0.50 vs 0.42), 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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