BIV vs VGHAX
Vanguard Intermediate-Term Bond ETF vs Vanguard Health Care Fund Admiral Shares
Quick Verdict
BIV has a lower expense ratio. VGHAX delivered stronger 1-year returns. BIV offers more diversification with 2,336 holdings.
Side-by-Side Comparison
| Metric | BIV | VGHAX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.27% | |
| AUM | $28.8B | $32.8B | |
| Dividend Yield | 4.28% | 6.45% | |
| Holdings | 2,336 | 109 | |
| YTD Return | -0.54% | +7.13% | |
| 1Y Return | +1.79% | +24.36% | |
| 3Y Return (annualized) | +5.00% | +1.32% | |
| 5Y Return (annualized) | -0.21% | -2.07% | |
| Volatility (annualized) | 5.7% | 15.7% | |
| Max Drawdown | -20.3% | -33.6% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Apr 3, 2007 | Nov 12, 2001 |
BIV vs VGHAX Performance
Vanguard Intermediate-Term Bond ETF (BIV) is a ETF from Vanguard (US) and Vanguard Health Care Fund Admiral Shares (VGHAX) is a mutual fund from Vanguard (US). Over the past year BIV returned +1.79% while VGHAX returned +24.36%. Year to date, BIV is down 0.54% versus a gain of 7.13% for VGHAX.
Over three years, BIV compounded at +5.00% per year against +1.32% for VGHAX; over five years the annualized figures are -0.21% and -2.07% respectively. Across the full 5-year window we track, BIV has the edge at +1.00% annualized vs -2.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VGHAX has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 5.7% for BIV. 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 -33.6% for VGHAX. 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BIV charges 0.03% per year while VGHAX charges 0.27%. On a $10,000 position that is $3 vs $27 annually, a gap of $24 per year that compounds over a long holding period. On income, BIV currently yields 4.28% against 6.45% for VGHAX.
Holdings Overlap
BIV and VGHAX share 0 holdings out of 368 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BIV or VGHAX?
BIV has an expense ratio of 0.03% while VGHAX charges 0.27%. BIV is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, BIV or VGHAX?
Over the past year BIV returned +1.79% vs +24.36% for VGHAX, so VGHAX leads on 1-year performance. Over the longest common window we track (5 years), BIV annualized +1.00% vs -2.07% for VGHAX. Past performance does not guarantee future results.
Which is riskier, BIV or VGHAX?
VGHAX has been the more volatile fund at 15.7% annualized versus 5.7% for BIV. Worst drawdown: BIV -20.3% vs VGHAX -33.6%.
Should I hold both BIV and VGHAX?
BIV and VGHAX have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BIV and VGHAX?
BIV and VGHAX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 368 unique securities.
Which pays a higher dividend, BIV or VGHAX?
BIV yields 4.28% while VGHAX yields 6.45%, so VGHAX currently pays the higher dividend yield.
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