BIV vs VGSH
Vanguard Intermediate-Term Bond ETF vs Vanguard Short Term Treasury ETF
Quick Verdict
VGSH delivered stronger 1-year returns. BIV offers more diversification with 2,336 holdings.
Side-by-Side Comparison
| Metric | BIV | VGSH | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.03% | |
| AUM | $28.8B | $30.2B | |
| Dividend Yield | 4.28% | 3.85% | |
| Holdings | 2,336 | 94 | |
| YTD Return | -1.07% | +0.90% | |
| 1Y Return | +0.92% | +2.39% | |
| 3Y Return (annualized) | +4.55% | +4.25% | |
| 5Y Return (annualized) | -0.31% | +1.90% | |
| Volatility (annualized) | 5.7% | 1.4% | |
| Max Drawdown | -20.3% | -6.7% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Fixed Income | |
| Inception | Apr 3, 2007 | Nov 19, 2009 |
BIV vs VGSH Performance
Vanguard Intermediate-Term Bond ETF (BIV) is a ETF from Vanguard (US) and Vanguard Short Term Treasury ETF (VGSH) is a ETF from Vanguard (US). Over the past year BIV returned +0.92% while VGSH returned +2.39%. Year to date, BIV is down 1.07% versus a gain of 0.90% for VGSH.
Over three years, BIV compounded at +4.55% per year against +4.25% for VGSH; over five years the annualized figures are -0.31% and +1.90% respectively. Across the full 17-year window we track, BIV has the edge at +0.97% annualized vs +0.72%. 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 1.4% for VGSH. 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 -6.7% for VGSH. 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BIV charges 0.03% per year while VGSH charges 0.03%. On a $10,000 position that is $3 vs $3 annually. On income, BIV currently yields 4.28% against 3.85% for VGSH.
Holdings Overlap
BIV and VGSH share 0 holdings out of 298 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 VGSH?
BIV has an expense ratio of 0.03% while VGSH charges 0.03%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, BIV or VGSH?
Over the past year BIV returned +0.92% vs +2.39% for VGSH, so VGSH leads on 1-year performance. Over the longest common window we track (17 years), BIV annualized +0.97% vs +0.72% for VGSH. Past performance does not guarantee future results.
Which is riskier, BIV or VGSH?
BIV has been the more volatile fund at 5.7% annualized versus 1.4% for VGSH. Worst drawdown: BIV -20.3% vs VGSH -6.7%.
Should I hold both BIV and VGSH?
BIV and VGSH have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BIV and VGSH?
BIV and VGSH share 0 common holdings with a 0.0% weight overlap. Combined, they hold 298 unique securities.
Which pays a higher dividend, BIV or VGSH?
BIV yields 4.28% while VGSH yields 3.85%, so BIV currently pays the higher dividend yield.
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