BLV vs SPY
Vanguard Long-Term Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BLV or SPY?
Long Term Bond against Large Cap Blend.
BLV has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BLV | SPY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $5.7B | $814.4B |
| Dividend Yield | 4.95% | 1.01% |
| Holdings | 2,974 | 505 |
| YTD Return | -2.02% | +13.34%Best |
| 1Y Return | -0.68% | +19.97%Best |
| 3Y Return (annualized) | +2.56% | +21.20%Best |
| 5Y Return (annualized) | -4.81% | +12.81%Best |
| Volatility (annualized) | 11.0%Best | 15.5% |
| Max Drawdown | -40.7%Best | -56.5% |
| $10,000 over 5 years | $7,815 | $18,270Best |
| Fund Family | Vanguard (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Long Term Bond | Large Cap Blend |
| Inception | Apr 3, 2007 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 10, 2007 to Sep 4, 2026 (19.4 years).
BLV vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.4 years both funds cover.
BLV vs SPY Performance
Vanguard Long-Term Bond ETF (BLV) is an ETF from Vanguard (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BLV returned -0.68% while SPY returned +19.97%. Year to date, BLV is down 2.02% versus a gain of 13.34% for SPY.
Over three years, BLV compounded at +2.56% per year against +21.20% for SPY; over five years the annualized figures are -4.81% and +12.81% respectively. Across the full 19-year window we track, SPY has the edge at +9.42% annualized vs +0.55%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 11.0% for BLV. 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 -40.7% for BLV and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.21. They move largely independently of each other.
Fees and Cost Over Time
BLV charges 0.03% per year while SPY charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, BLV currently yields 4.95% against 1.01% for SPY.
Holdings Overlap
At least 0.3% of SPY's money is in holdings BLV also owns.
Stated as a floor: for BLV, our book for it covers 19.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 320 positions we hold weights for in BLV and 504 in SPY, against full books of 2,974 and 505.
Top Shared Holdings
| Stock | Weight in BLV | Weight in SPY | Difference |
|---|---|---|---|
| UNPUnion Pacific Corp | 0.01% | 0.26% | 0.25% |
You are not choosing between two funds in isolation.
Whichever of BLV and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BLV or SPY?
BLV has an expense ratio of 0.03% while SPY charges 0.09%. BLV is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, BLV or SPY?
Over the past year BLV returned -0.68% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), BLV annualized +0.55% vs +9.42% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BLV or SPY?
SPY has been the more volatile fund at 15.5% annualized versus 11.0% for BLV. Worst drawdown: BLV -40.7% vs SPY -56.5%.
Should I hold both BLV and SPY?
BLV and SPY have a monthly-return correlation of 0.21, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BLV or SPY?
BLV yields 4.95% while SPY yields 1.01%, so BLV currently pays the higher dividend yield.
Is SPY better than BLV?
BLV has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.