BSV vs BIV: returns, risk and drawdowns compared
Vanguard Short-Term Bond ETF against Vanguard Intermediate-Term Bond ETF, over the same 19 years (May 2007 to October 2026) with dividends reinvested.
Data updated October 2026
From May 2007 to October 2026, BSV returned 2.4% a year and BIV 3.6% a year on average, so BIV came out ahead by 1.2% a year. BIV was the more volatile of the two (5.7% against 2.4% a year), and the deepest falls from a month-end high were 7.9% for BSV and 17.6% for BIV.
The correlation of monthly returns was 0.90: they moved almost in lockstep. Over 199 rolling 3-year periods, BSV did better in 24% and BIV in 76%.
Side by side
| BSV | BIV | |
|---|---|---|
| Annual return (CAGR) | +2.4% | +3.6% |
| Total return | +60% | +101% |
| Annual volatility | 2.4% | 5.7% |
| Maximum drawdown (month-end) | −7.9% | −17.6% |
| Worst month | −2.0% | −4.3% |
| Best month | +4.3% | +7.3% |
| Positive months | 65% | 62% |
| Best year | 2008: +8.5% | 2011: +11.1% |
| Worst year | 2022: −5.5% | 2022: −13.2% |
| 1-year return | +0.6% | −2.8% |
| 5 years, a year | +1.7% | −0.1% |
| 10 years, a year | +1.9% | +1.5% |
| Trading currency | USD | USD |
First nine rows: the same 234 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: BSV vs BIV
Returns by calendar year
| Year | BSV | BIV |
|---|---|---|
| 2025 | +6.0% | +8.5% |
| 2024 | +3.8% | +1.6% |
| 2023 | +4.9% | +6.1% |
| 2022 | −5.5% | −13.2% |
| 2021 | −1.2% | −2.4% |
| 2020 | +4.7% | +9.7% |
| 2019 | +5.0% | +10.3% |
| 2018 | +1.3% | −0.2% |
| 2017 | +1.2% | +3.6% |
| 2016 | +1.3% | +3.0% |
| 2015 | +0.9% | +1.0% |
| 2014 | +1.5% | +7.8% |
| 2013 | +0.2% | −3.6% |
| 2012 | +2.2% | +6.8% |
| 2011 | +2.9% | +11.1% |
| 2010 | +3.9% | +9.1% |
| 2009 | +1.5% | +4.3% |
| 2008 | +8.5% | +7.8% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, BSV or BIV?
From May 2007 to October 2026, BSV returned +2.4% a year and BIV +3.6% a year, with dividends reinvested. Over rolling 3-year periods BSV did better in 24% of cases. Past returns do not predict future returns.
Which is riskier, BSV or BIV?
Over the same months annual volatility was 2.4% for BSV and 5.7% for BIV; the deepest fall from a month-end high was 7.9% and 17.6%, and the worst single month −2.0% and −4.3%.
How correlated are BSV and BIV?
The correlation of their monthly returns was 0.90: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.