VOO vs. BIV
VOO (Vanguard S&P 500 ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both exchange-traded funds - VOO is a S&P 500 fund tracking the S&P 500 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, VOO returned 15.50%/yr vs 1.89%/yr for BIV. At a correlation of -0.09, they often move in opposite directions. Both charge a 0.03% expense ratio.
Performance
VOO vs. BIV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VOO achieves a 9.08% return, which is significantly higher than BIV's -0.06% return. Over the past 10 years, VOO has outperformed BIV with an annualized return of 15.50%, while BIV has yielded a comparatively lower 1.89% annualized return.
VOO
- 1D
- 0.55%
- 1M
- -0.84%
- YTD
- 9.08%
- 6M
- 9.44%
- 1Y
- 25.76%
- 3Y*
- 20.95%
- 5Y*
- 13.43%
- 10Y*
- 15.50%
BIV
- 1D
- -0.13%
- 1M
- 0.26%
- YTD
- -0.06%
- 6M
- 0.31%
- 1Y
- 4.61%
- 3Y*
- 4.62%
- 5Y*
- 0.16%
- 10Y*
- 1.89%
VOO vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 9.08% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
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 VOO and BIV is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | -0.09 |
The correlation between VOO and BIV shifts across timeframes, from -0.09 (all time) to 0.32 (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
VOO vs. BIV — Risk / Return Rank
VOO
BIV
VOO vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) 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.
| VOO | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.19 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 1.36 | +1.39 |
| Martin ratioReturn relative to average drawdown | 12.42 | 3.90 | +8.52 |
Loading charts...
Drawdowns
VOO vs. BIV - Drawdown Comparison
The maximum VOO drawdown since its inception was -33.99%, which is greater than BIV's maximum drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for VOO and BIV.
Loading charts...
Drawdown Indicators
| VOO | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -18.95% | -15.04% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -3.18% | -5.72% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -6.07% | -12.62% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -18.74% | -5.78% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | -18.95% | -15.04% |
Current DrawdownCurrent decline from peak | -2.34% | -1.86% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -3.39% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.10% | +0.87% |
Volatility
VOO vs. BIV - Volatility Comparison
Vanguard S&P 500 ETF (VOO) has a higher volatility of 4.34% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.45%. This indicates that VOO'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
| VOO | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 1.45% | +2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 9.58% | 2.98% | +6.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.27% | 4.03% | +8.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.88% | 6.41% | +10.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 5.51% | +12.52% |
VOO vs. BIV - Expense Ratio Comparison
Both VOO and BIV have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VOO vs. BIV - Dividend Comparison
VOO's dividend yield for the trailing twelve months is around 1.05%, 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% |
VOO Vanguard S&P 500 ETF | 1.05% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
VOO and BIV have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOO has higher volatility (4.34%) compared to BIV (1.45%). In terms of maximum drawdown, VOO dropped -33.99% vs BIV's -18.95%.
On 10-year performance, VOO leads with 15.50% vs 1.89% for BIV. Both ETFs have the same 0.03% expense ratio. 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, VOO has performed better with a 15.50% return vs 1.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOO and BIV have the same expense ratio: 0.03% per year.
BIV has the higher dividend yield at 4.21%, compared with 1.05% for VOO.
VOO is categorized as S&P 500, while BIV is Intermediate Core Bond. VOO tracks S&P 500 Index, while BIV tracks Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Bond Index.
VOO currently has the higher Sharpe Ratio (1.99 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 VOO 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