BIV vs BND
Vanguard Intermediate-Term Bond ETF vs Vanguard Total Bond Market ETF
Quick Verdict
BND delivered stronger 1-year returns. BND offers more diversification with 17,437 holdings.
Side-by-Side Comparison
| Metric | BIV | BND | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.03% | |
| AUM | $28.8B | $160.9B | |
| Dividend Yield | 4.28% | 4.02% | |
| Holdings | 2,336 | 17,437 | |
| YTD Return | -0.75% | -0.14% | |
| 1Y Return | +1.25% | +2.05% | |
| 3Y Return (annualized) | +4.47% | +4.23% | |
| 5Y Return (annualized) | -0.26% | -0.31% | |
| Volatility (annualized) | 5.7% | 4.6% | |
| Max Drawdown | -20.3% | -19.6% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Fixed Income | |
| Inception | Apr 3, 2007 | Apr 3, 2007 |
BIV vs BND Performance
Vanguard Intermediate-Term Bond ETF (BIV) is a ETF from Vanguard (US) and Vanguard Total Bond Market ETF (BND) is a ETF from Vanguard (US). Over the past year BIV returned +1.25% while BND returned +2.05%. Year to date, BIV is down 0.75% versus a loss of 0.14% for BND.
Over three years, BIV compounded at +4.47% per year against +4.23% for BND; over five years the annualized figures are -0.26% and -0.31% respectively. Across the full 19-year window we track, BIV has the edge at +0.98% annualized vs +0.69%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BIV has been the more volatile fund, with annualized monthly volatility of 5.7% compared with 4.6% for BND. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.3% for BIV and -19.6% for BND. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BIV charges 0.03% per year while BND charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, BIV currently yields 4.28% against 4.02% for BND.
Holdings Overlap
BIV and BND share 251 holdings out of 1213 unique holdings combined, representing a 3.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in BIV | Weight in BND | Difference |
|---|---|---|---|
| T 4 02/15/34 | 2.15% | 0.40% | 1.75% |
| T 4.25 08/15/35 | 2.05% | 0.39% | 1.66% |
| T 3.875 08/15/33 | 1.85% | 0.36% | 1.49% |
| T 2.875 05/15/32 | Pro | Pro | Pro |
| T 3.375 05/15/33 | Pro | Pro | Pro |
| T 2.75 08/15/32 | Pro | Pro | Pro |
| T 3.75 08/31/31 | Pro | Pro | Pro |
| T 4 04/30/32 | Pro | Pro | Pro |
| WFC V5.211 12/03/35 | Pro | Pro | Pro |
| WFC V5.605 04/23/36 | Pro | Pro | Pro |
Frequently Asked Questions
Which is cheaper, BIV or BND?
BIV has an expense ratio of 0.03% while BND charges 0.03%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, BIV or BND?
Over the past year BIV returned +1.25% vs +2.05% for BND, so BND leads on 1-year performance. Over the longest common window we track (19 years), BIV annualized +0.98% vs +0.69% for BND. Past performance does not guarantee future results.
Which is riskier, BIV or BND?
BIV has been the more volatile fund at 5.7% annualized versus 4.6% for BND. Worst drawdown: BIV -20.3% vs BND -19.6%.
Should I hold both BIV and BND?
BIV and BND have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between BIV and BND?
BIV and BND share 251 common holdings with a 3.3% weight overlap. Combined, they hold 1213 unique securities.
Which pays a higher dividend, BIV or BND?
BIV yields 4.28% while BND yields 4.02%, so BIV currently pays the higher dividend yield.
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