VWETX vs. BLV
VWETX (Vanguard Long-Term Investment-Grade Fund Admiral Shares) and BLV (Vanguard Long-Term Bond ETF) are both funds - VWETX is a Total Bond Market fund managed by Vanguard, while BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index. Over the past 10 years, VWETX returned 0.97%/yr vs 0.32%/yr for BLV. Their correlation of 0.93 means they have usually moved in the same direction. VWETX charges 0.12%/yr vs 0.03%/yr for BLV.
Performance
VWETX vs. BLV - Performance Comparison
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Returns By Period
In the year-to-date period, VWETX achieves a -3.25% return, which is significantly lower than BLV's -2.38% return. Over the past 10 years, VWETX has outperformed BLV with an annualized return of 0.97%, while BLV has yielded a comparatively lower 0.32% annualized return.
VWETX
- 1D
- -0.41%
- 1M
- -3.98%
- 6M
- -3.28%
- YTD
- -3.25%
- 1Y
- -0.68%
- 3Y*
- 2.17%
- 5Y*
- -4.12%
- 10Y*
- 0.97%
- ALL TIME*
- 4.95%
BLV
- 1D
- 0.44%
- 1M
- -3.14%
- 6M
- -2.34%
- YTD
- -2.38%
- 1Y
- -0.29%
- 3Y*
- 2.08%
- 5Y*
- -5.11%
- 10Y*
- 0.32%
- ALL TIME*
- 4.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.99M | $52.76M | $45.16M | |
| $0.00 | $0.00 | $0.00 |
VWETX vs. BLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWETX Vanguard Long-Term Investment-Grade Fund Admiral Shares | -3.25% | 7.31% | -2.70% | 8.92% | -25.54% | -2.79% | 15.50% | 20.56% | -6.17% | 12.08% |
BLV Vanguard Long-Term Bond ETF | -2.38% | 6.44% | -3.65% | 7.35% | -26.95% | -2.89% | 16.13% | 18.99% | -4.17% | 10.74% |
Correlation
The correlation between VWETX and BLV is 0.95, 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. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
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 | 0.93 |
The correlation between VWETX and BLV has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
VWETX vs. BLV — Risk / Return Rank
VWETX
BLV
VWETX vs. BLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) 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.
| VWETX | BLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.00 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.02 | -0.05 | +0.07 |
| Martin ratioReturn relative to average drawdown | 0.04 | -0.11 | +0.15 |
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Drawdowns
VWETX vs. BLV - Drawdown Comparison
The maximum VWETX drawdown since its inception was -36.04%, smaller than the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for VWETX and BLV.
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Drawdown Indicators
| VWETX | BLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.04% | -38.29% | +2.25% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -5.92% | +0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -10.71% | -11.70% | +0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -34.42% | -36.27% | +1.85% |
Max Drawdown (10Y)Largest decline over 10 years | -36.04% | -38.29% | +2.25% |
Current DrawdownCurrent decline from peak | -21.86% | -26.16% | +4.30% |
Average DrawdownAverage peak-to-trough decline | -7.28% | -9.64% | +2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 2.66% | -0.35% |
Volatility
VWETX vs. BLV - Volatility Comparison
The current volatility for Vanguard Long-Term Investment-Grade Fund Admiral Shares (VWETX) is 1.87%, while Vanguard Long-Term Bond ETF (BLV) has a volatility of 2.19%. This indicates that VWETX 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
| VWETX | BLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.87% | 2.19% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 5.76% | 5.97% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.50% | 7.77% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.03% | 12.91% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.83% | 11.95% | -1.12% |
VWETX vs. BLV - Expense Ratio Comparison
VWETX has a 0.12% 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
VWETX vs. BLV - Dividend Comparison
VWETX's dividend yield for the trailing twelve months is around 4.97%, which matches BLV's 4.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | 4.97% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
VWETX Vanguard Long-Term Investment-Grade Fund Admiral Shares | 4.97% | 5.06% | 5.10% | 4.26% | 4.54% | 4.86% | 6.99% | 5.11% | 4.40% | 5.60% | 6.25% | 7.49% |
Frequently Asked Questions
With a correlation of 0.95, VWETX and BLV 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.
BLV has higher volatility (2.19%) compared to VWETX (1.87%). In terms of maximum drawdown, VWETX dropped -36.04% vs BLV's -38.29%.
VWETX currently has the higher Sharpe Ratio (0.01 vs -0.04), 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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