VBLAX vs. BLV
Compare and contrast key facts about Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and Vanguard Long-Term Bond ETF (BLV).
VBLAX is managed by Vanguard. It was launched on Feb 7, 2019. BLV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Long Government/Credit Float Adjusted Index. It was launched on Apr 3, 2007.
Performance
VBLAX vs. BLV - Performance Comparison
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VBLAX vs. BLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -1.15% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
BLV Vanguard Long-Term Bond ETF | -0.32% | 6.44% | -3.65% | 7.35% | -26.95% | -2.89% | 16.13% | 16.77% |
Returns By Period
In the year-to-date period, VBLAX achieves a -1.15% return, which is significantly lower than BLV's -0.32% return.
VBLAX
- 1D
- 1.07%
- 1M
- -4.25%
- YTD
- -1.15%
- 6M
- -1.40%
- 1Y
- 1.61%
- 3Y*
- 0.74%
- 5Y*
- -2.98%
- 10Y*
- —
BLV
- 1D
- 0.36%
- 1M
- -3.51%
- YTD
- -0.32%
- 6M
- -0.68%
- 1Y
- 2.33%
- 3Y*
- 1.01%
- 5Y*
- -3.05%
- 10Y*
- 1.20%
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VBLAX vs. BLV - Expense Ratio Comparison
VBLAX has a 0.07% expense ratio, which is higher than BLV'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. BLV — Risk / Return Rank
VBLAX
BLV
VBLAX vs. BLV - 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 Long-Term Bond ETF (BLV). 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 | BLV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 0.24 | +0.03 |
Sortino ratioReturn per unit of downside risk | 0.43 | 0.38 | +0.05 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.05 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.43 | +0.10 |
Martin ratioReturn relative to average drawdown | 1.30 | 1.04 | +0.26 |
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 | BLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.24 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.23 | -0.24 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.37 | -0.33 |
Correlation
The correlation between VBLAX and BLV is 0.96, 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. BLV - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.34%, less than BLV's 4.73% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.34% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
BLV Vanguard Long-Term Bond ETF | 4.73% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
Drawdowns
VBLAX vs. BLV - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, roughly equal to the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for VBLAX and BLV.
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Drawdown Indicators
| VBLAX | BLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -38.29% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -6.87% | -6.89% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -36.27% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.29% | — |
Current DrawdownCurrent decline from peak | -25.71% | -24.59% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -17.93% | -9.37% | -8.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.81% | 2.84% | -0.03% |
Volatility
VBLAX vs. BLV - Volatility Comparison
The current volatility for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) is 3.34%, while Vanguard Long-Term Bond ETF (BLV) has a volatility of 3.54%. This indicates that VBLAX experiences smaller price fluctuations and is considered to be less risky than BLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLAX | BLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 3.54% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 5.47% | 5.50% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.52% | 9.77% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 12.98% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.74% | 11.99% | +0.75% |