BIV vs VIPIX
Vanguard Intermediate-Term Bond ETF vs Vanguard Inflation Protected Securities Fund Insti Shs
Quick Verdict
BIV has a lower expense ratio. BIV delivered stronger 1-year returns. BIV offers more diversification with 2,336 holdings.
Side-by-Side Comparison
| Metric | BIV | VIPIX | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.07% | |
| AUM | $28.8B | $12.4B | |
| Dividend Yield | 4.28% | 5.21% | |
| Holdings | 2,336 | 81 | |
| YTD Return | -1.07% | -1.07% | |
| 1Y Return | +0.92% | -3.65% | |
| 3Y Return (annualized) | +4.55% | -0.43% | |
| 5Y Return (annualized) | -0.31% | -4.89% | |
| Volatility (annualized) | 5.7% | 6.6% | |
| Max Drawdown | -20.3% | -24.5% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Fixed Income | |
| Inception | Apr 3, 2007 | Dec 12, 2003 |
BIV vs VIPIX Performance
Vanguard Intermediate-Term Bond ETF (BIV) is a ETF from Vanguard (US) and Vanguard Inflation Protected Securities Fund Insti Shs (VIPIX) is a mutual fund from Vanguard (US). Over the past year BIV returned +0.92% while VIPIX returned -3.65%. Year to date, BIV is down 1.07% versus a loss of 1.07% for VIPIX.
Over three years, BIV compounded at +4.55% per year against -0.43% for VIPIX; over five years the annualized figures are -0.31% and -4.89% respectively. Across the full 5-year window we track, BIV has the edge at +0.97% annualized vs -4.89%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VIPIX has been the more volatile fund, with annualized monthly volatility of 6.6% 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 -24.5% for VIPIX. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BIV charges 0.03% per year while VIPIX charges 0.07%. On a $10,000 position that is $3 vs $7 annually, a gap of $4 per year that compounds over a long holding period. On income, BIV currently yields 4.28% against 5.21% for VIPIX.
Holdings Overlap
BIV and VIPIX share 2 holdings out of 332 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in BIV | Weight in VIPIX | Difference |
|---|---|---|---|
| T 4 02/15/34 | 2.15% | 0.08% | 2.07% |
| T 4.25 08/15/35 | 2.05% | 0.04% | 2.01% |
Frequently Asked Questions
Which is cheaper, BIV or VIPIX?
BIV has an expense ratio of 0.03% while VIPIX charges 0.07%. BIV is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, BIV or VIPIX?
Over the past year BIV returned +0.92% vs -3.65% for VIPIX, so BIV leads on 1-year performance. Over the longest common window we track (5 years), BIV annualized +0.97% vs -4.89% for VIPIX. Past performance does not guarantee future results.
Which is riskier, BIV or VIPIX?
VIPIX has been the more volatile fund at 6.6% annualized versus 5.7% for BIV. Worst drawdown: BIV -20.3% vs VIPIX -24.5%.
Should I hold both BIV and VIPIX?
BIV and VIPIX have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BIV and VIPIX?
BIV and VIPIX share 2 common holdings with a 0.1% weight overlap. Combined, they hold 332 unique securities.
Which pays a higher dividend, BIV or VIPIX?
BIV yields 4.28% while VIPIX yields 5.21%, so VIPIX currently pays the higher dividend yield.
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