VBLAX vs. BIV
Compare and contrast key facts about Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and Vanguard Intermediate-Term Bond Index ETF (BIV).
VBLAX is managed by Vanguard. It was launched on Feb 7, 2019. BIV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index. It was launched on Apr 3, 2007.
Performance
VBLAX vs. BIV - Performance Comparison
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VBLAX vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -0.96% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.23% | 8.52% | 1.57% | 6.07% | -13.21% | -2.40% | 9.67% | 8.75% |
Returns By Period
In the year-to-date period, VBLAX achieves a -0.96% return, which is significantly lower than BIV's -0.23% return.
VBLAX
- 1D
- 0.19%
- 1M
- -3.26%
- YTD
- -0.96%
- 6M
- -1.49%
- 1Y
- 1.14%
- 3Y*
- 0.80%
- 5Y*
- -3.19%
- 10Y*
- —
BIV
- 1D
- 0.00%
- 1M
- -1.57%
- YTD
- -0.23%
- 6M
- 0.54%
- 1Y
- 4.69%
- 3Y*
- 3.99%
- 5Y*
- 0.54%
- 10Y*
- 2.04%
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VBLAX vs. BIV - Expense Ratio Comparison
VBLAX has a 0.07% 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%.
Return for Risk
VBLAX vs. BIV — Risk / Return Rank
VBLAX
BIV
VBLAX vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) 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.
| VBLAX | BIV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.19 | 1.04 | -0.85 |
Sortino ratioReturn per unit of downside risk | 0.32 | 1.50 | -1.18 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.18 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.74 | -1.34 |
Martin ratioReturn relative to average drawdown | 0.99 | 5.57 | -4.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VBLAX | BIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | 1.04 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | 0.09 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.65 | -0.62 |
Correlation
The correlation between VBLAX and BIV is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VBLAX vs. BIV - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.33%, more than BIV's 4.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.33% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
BIV Vanguard Intermediate-Term Bond Index ETF | 4.14% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
Drawdowns
VBLAX vs. BIV - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, which is greater than BIV's maximum drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for VBLAX and BIV.
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Drawdown Indicators
| VBLAX | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -18.95% | -19.67% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -2.87% | -4.00% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -18.74% | -17.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.95% | — |
Current DrawdownCurrent decline from peak | -25.57% | -2.03% | -23.54% |
Average DrawdownAverage peak-to-trough decline | -17.94% | -3.40% | -14.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 0.90% | +1.92% |
Volatility
VBLAX vs. BIV - Volatility Comparison
Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a higher volatility of 3.30% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.77%. This indicates that VBLAX'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.
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Volatility by Period
| VBLAX | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 1.77% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 5.44% | 2.74% | +2.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.50% | 4.55% | +4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 6.39% | +6.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.74% | 5.50% | +7.24% |