VPU vs. BLV
VPU (Vanguard Utilities ETF) and BLV (Vanguard Long-Term Bond ETF) are both exchange-traded funds - VPU is a Utilities Equities fund tracking the MSCI US Investable Market Utilities 25/50 Index, while BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, VPU returned 9.17%/yr vs 0.91%/yr for BLV. At a 0.05 correlation, their price movements are largely independent. VPU charges 0.09%/yr vs 0.03%/yr for BLV.
Performance
VPU vs. BLV - Performance Comparison
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Returns By Period
In the year-to-date period, VPU achieves a 5.98% return, which is significantly higher than BLV's 0.81% return. Over the past 10 years, VPU has outperformed BLV with an annualized return of 9.17%, while BLV has yielded a comparatively lower 0.91% annualized return.
VPU
- 1D
- 0.45%
- 1M
- -0.84%
- YTD
- 5.98%
- 6M
- 6.31%
- 1Y
- 14.60%
- 3Y*
- 14.56%
- 5Y*
- 10.18%
- 10Y*
- 9.17%
BLV
- 1D
- -0.55%
- 1M
- 1.61%
- YTD
- 0.81%
- 6M
- 0.84%
- 1Y
- 5.47%
- 3Y*
- 1.85%
- 5Y*
- -3.65%
- 10Y*
- 0.91%
VPU vs. BLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPU Vanguard Utilities ETF | 5.98% | 16.46% | 23.04% | -7.45% | 1.06% | 17.40% | -0.74% | 24.89% | 4.38% | 12.44% |
BLV Vanguard Long-Term Bond ETF | 0.81% | 6.44% | -3.65% | 7.35% | -26.95% | -2.89% | 16.13% | 18.99% | -4.17% | 10.74% |
Correlation
The correlation between VPU and BLV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 10, 2007 | 0.05 |
The correlation between VPU and BLV shifts across timeframes, from 0.05 (all time) to 0.31 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VPU vs. BLV — Risk / Return Rank
VPU
BLV
VPU vs. BLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Utilities ETF (VPU) 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.
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.
| VPU | BLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.12 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 0.96 | +0.69 |
| Martin ratioReturn relative to average drawdown | 3.51 | 2.34 | +1.17 |
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Drawdowns
VPU vs. BLV - Drawdown Comparison
The maximum VPU drawdown since its inception was -46.31%, which is greater than BLV's maximum drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for VPU and BLV.
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Drawdown Indicators
| VPU | BLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.31% | -38.29% | -8.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -5.73% | -3.17% |
Max Drawdown (3Y)Largest decline over 3 years | -17.34% | -15.16% | -2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -25.15% | -36.27% | +11.12% |
Max Drawdown (10Y)Largest decline over 10 years | -36.42% | -38.29% | +1.87% |
Current DrawdownCurrent decline from peak | -4.74% | -23.74% | +19.00% |
Average DrawdownAverage peak-to-trough decline | -7.78% | -9.55% | +1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 2.34% | +1.82% |
Volatility
VPU vs. BLV - Volatility Comparison
Vanguard Utilities ETF (VPU) has a higher volatility of 5.20% compared to Vanguard Long-Term Bond ETF (BLV) at 1.97%. This indicates that VPU's price experiences larger fluctuations and is considered to be riskier 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
| VPU | BLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 1.97% | +3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 11.54% | 5.76% | +5.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.45% | 7.98% | +6.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 12.93% | +4.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.15% | 11.99% | +7.16% |
VPU vs. BLV - Expense Ratio Comparison
VPU has a 0.09% 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%.
Dividends
VPU vs. BLV - Dividend Comparison
VPU's dividend yield for the trailing twelve months is around 2.61%, less than BLV's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | 4.78% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
VPU Vanguard Utilities ETF | 2.61% | 2.73% | 3.02% | 3.49% | 2.98% | 2.70% | 3.17% | 2.83% | 3.23% | 3.18% | 3.19% | 3.63% |
Frequently Asked Questions
VPU and BLV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPU has higher volatility (5.20%) compared to BLV (1.97%). In terms of maximum drawdown, VPU dropped -46.31% vs BLV's -38.29%.
On 10-year performance, VPU leads with 9.17% vs 0.91% for BLV. On fees, BLV is cheaper at 0.03% per year. On volatility, BLV has been the lower-risk option at 1.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VPU has performed better with a 9.17% return vs 0.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BLV is cheaper with a 0.03% expense ratio, compared with 0.09% for VPU.
BLV has the higher dividend yield at 4.78%, compared with 2.61% for VPU.
VPU is categorized as Utilities Equities, while BLV is Long-Term Bond. VPU tracks MSCI US Investable Market Utilities 25/50 Index, while BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index. Their fees differ too: 0.09% for VPU and 0.03% for BLV.
VPU currently has the higher Sharpe Ratio (1.02 vs 0.69), 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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