BIV vs VOE
Vanguard Intermediate-Term Bond ETF vs Vanguard Mid-Cap Value ETF
Quick Verdict
BIV has a lower expense ratio. VOE delivered stronger 1-year returns. BIV offers more diversification with 2101 holdings.
Side-by-Side Comparison
| Metric | BIV | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $29.3B | $22.9B | |
| Dividend Yield | 4.18% | 2.31% | |
| Holdings | 2,321 | 177 | |
| YTD Return | -1.00% | +17.73% | |
| 1Y Return | +1.52% | +27.33% | |
| 3Y Return (annualized) | +4.54% | +16.78% | |
| 5Y Return (annualized) | -0.22% | +9.95% | |
| Volatility (annualized) | 5.7% | 17.6% | |
| Max Drawdown | -20.3% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Equity | |
| Inception | Apr 3, 2007 | Aug 17, 2006 |
BIV vs VOE Performance
Vanguard Intermediate-Term Bond ETF (BIV) is a ETF from Vanguard (US) and Vanguard Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year BIV returned +1.52% while VOE returned +27.33%. Year to date, BIV is down 1.00% versus a gain of 17.73% for VOE.
Over three years, BIV compounded at +4.54% per year against +16.78% for VOE; over five years the annualized figures are -0.22% and +9.95% respectively. Across the full 19-year window we track, VOE has the edge at +7.98% annualized vs +0.97%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -63.4% for VOE. 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 0.20. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BIV charges 0.03% per year while VOE charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, BIV currently yields 4.18% against 2.31% for VOE.
Holdings Overlap
BIV and VOE share 3 holdings out of 2267 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BIV or VOE?
BIV has an expense ratio of 0.03% while VOE charges 0.05%. BIV is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, BIV or VOE?
Over the past year BIV returned +1.52% vs +27.33% for VOE, so VOE leads on 1-year performance. Over the longest common window we track (19 years), BIV annualized +0.97% vs +7.98% for VOE. Past performance does not guarantee future results.
Which is riskier, BIV or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 5.7% for BIV. Worst drawdown: BIV -20.3% vs VOE -63.4%.
Should I hold both BIV and VOE?
BIV and VOE have a monthly-return correlation of 0.20, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BIV and VOE?
BIV and VOE share 3 common holdings with a 0.1% weight overlap. Combined, they hold 2267 unique securities.
Which pays a higher dividend, BIV or VOE?
BIV yields 4.18% while VOE yields 2.31%, so BIV currently pays the higher dividend yield.
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