BIV vs VGIT Stock Comparison: AI Score, Valuation, Performance and Upside
BIV (Vanguard Intermediate-Term Bond ETF) and VGIT (Vanguard Intermediate-Term Treasury ETF) are both intermediate-duration bond ETFs from Vanguard at the same expense ratio (0.04%) but with different credit profiles — BIV blends government and investment-grade corporate bonds for a modest yield pickup over Treasuries, while VGIT holds exclusively U.S. Treasuries for maximum credit safety and flight-to-quality benefits. Investors accepting no credit risk choose VGIT; investors accepting some credit risk for higher yield choose BIV.
BIV vs VGIT is the choice between credit diversification with yield premium (BIV's government/corporate blend earning investment-grade credit spreads over Treasuries in the intermediate maturity range) versus maximum credit safety in pure Treasuries (VGIT's exclusively U.S. government obligations providing flight-to-quality portfolio protection with zero credit risk at the cost of lower yield) — credit exposure for income versus Treasury purity for safety.
BIV and VGIT are closely matched — they split the tracked metrics evenly. VGIT has delivered stronger 1-year price return (-1.35% vs -1.81% for BIV).
- Want modest yield enhancement over pure Treasuries from investment-grade corporate bonds while maintaining investment-grade credit quality limits throughout the intermediate maturity range
- Are comfortable with the credit cycle exposure that BIV's corporate bond component adds — accepting that corporate credit spreads will widen in recessions (reducing relative performance vs. VGIT temporarily) for a higher expected yield over time
- Build a custom bond ladder or total bond portfolio by maturity bucket and want a combined government/credit intermediate bond building block
- Want pure U.S. Treasury intermediate maturity exposure — zero credit risk, zero corporate default risk, maximum flight-to-quality benefits during equity market stress events
- Prefer separating interest rate risk from credit risk in their fixed income portfolio — using VGIT for rate exposure and a separate credit fund for credit risk allows cleaner factor management
- Hold VGIT specifically for its strong negative correlation with equity markets during stress — Treasury bonds rally when stocks fall sharply, providing portfolio ballast that corporate bond funds do not provide as reliably
| Metric | BIV | VGIT |
|---|---|---|
| ETF scorei | 32.0 | 32.0 |
| Latest closei | $73.34 | $56.90 |
| 1M returni | -2.84% | -2.39% |
| 6M returni | -2.02% | -1.91% |
| 1Y returni | -1.81% | -1.35% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | BIV | VGIT |
|---|---|---|
| 1Y ago | $10.25K (+2.5%) started 2025-09-25 | $10.26K (+2.6%) started 2025-09-25 |
| 5Y ago | $11.88K (+18.8%) started 2021-09-27 | $11.6K (+16.0%) started 2021-09-27 |
| 10Y ago | $16.56K (+65.6%) started 2016-09-26 | $14.54K (+45.4%) started 2016-09-26 |
Hypothetical — past performance does not guarantee future results.
| Metric | BIV | VGIT |
|---|---|---|
| Expense ratioi | 0.03% | 0.03% |
| Total assets (AUM)i | $52.1B | $48.41B |
| Dividend yieldi | 4.32% | 3.90% |
| Trailing P/Ei | N/A | N/A |
| Betai | 0.27 | 0.17 |
| 52-week change | -1.81% | -1.35% |
| Metric | BIV | VGIT |
|---|---|---|
| 1Y returni | -1.81% | -1.35% |
| 6M returni | -2.02% | -1.91% |
| 1M returni | -2.84% | -2.39% |
| 1Y Sharpe ratio | -1.51 | -1.71 |
| Betai | 0.27 | 0.17 |
| Dividend yieldi | 4.32% | 3.90% |
| 5Y CAGR | -0.45% | -0.35% |
Over the past year, BIV and VGIT have moved strongly in the same direction (correlation of 0.98), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | BIV | VGIT |
|---|---|---|---|
| 1Y | Growthi | -1.81% | -1.35% |
| CAGRi | -1.81% | -1.35% | |
| Volatilityi | 4.14% | 3.40% | |
| Sharpe ratioi | -1.51 | -1.71 | |
| Sortino ratioi | -1.91 | -2.17 | |
| Max drawdowni | 5.09% | 4.47% | |
| Current drawdowni | 4.83% | 4.15% | |
| Avg drawdowni | 1.41% | 1.28% | |
| Ulcer Indexi | 1.78% | 1.62% | |
| Max daily dropi | 0.94% | 0.75% | |
| Max wkly dropi | 1.48% | 1.20% | |
| 5Y | Growthi | -2.25% | -1.76% |
| CAGRi | -0.45% | -0.35% | |
| Volatilityi | 6.44% | 5.41% | |
| Sharpe ratioi | -0.74 | -0.87 | |
| Sortino ratioi | -1.02 | -1.21 | |
| Max drawdowni | 17.50% | 13.93% | |
| Current drawdowni | 4.83% | 4.15% | |
| Avg drawdowni | 6.91% | 5.85% | |
| Ulcer Indexi | 8.40% | 7.04% | |
| Max daily dropi | 1.67% | 1.29% | |
| Max wkly dropi | 3.71% | 2.90% | |
| 10Y | Growthi | +14.54% | +9.51% |
| CAGRi | +1.37% | +0.91% | |
| Volatilityi | 5.52% | 4.50% | |
| Sharpe ratioi | -0.54 | -0.77 | |
| Sortino ratioi | -0.74 | -1.08 | |
| Max drawdowni | 18.94% | 16.05% | |
| Current drawdowni | 4.83% | 4.46% | |
| Avg drawdowni | 5.08% | 4.82% | |
| Ulcer Indexi | 7.06% | 6.49% | |
| Max daily dropi | 2.40% | 1.61% | |
| Max wkly dropi | 5.03% | 2.90% |
| Category | BIV | VGIT |
|---|---|---|
| Fund name | Vanguard Intermediate-Term Bond Index Fund ETF Shares | Vanguard Intermediate-Term Treasury Index Fund ETF Shares |
| Type | ETF | ETF |
| Expense ratioi | 0.03% | 0.03% |
| Total assets (AUM)i | $52.1B | $48.41B |
| Dividend yieldi | 4.32% | 3.90% |
- Investment-grade corporate bonds add yield premium over Treasuries — BIV's ~50% corporate bond allocation earns the credit spread (typically 50-100 basis points) over equivalent Treasury maturities; over time, investment-grade corporate bonds have historically provided positive excess returns versus Treasuries after defaults
- Intermediate maturity provides balanced duration risk — BIV's 5-10 year maturity focus creates moderate duration (~6-7 years) providing meaningful income without the extreme interest rate sensitivity of long-duration bond funds
- 0.04% expense ratio among the lowest in its category — Vanguard's cost leadership produces superior net yields versus higher-cost intermediate bond funds with similar credit exposure
- Zero credit risk — U.S. Treasuries are the world's safest financial instrument, backed by the U.S. government's full faith and credit and its ability to tax and print currency; VGIT eliminates credit risk entirely
- Flight-to-quality benefits during equity market stress — Treasuries typically rally (prices rise, yields fall) when equity markets crash; investors flee to safety; VGIT provides portfolio protection when stocks decline sharply
- Predictable performance driven only by interest rate changes — VGIT's performance is entirely driven by Treasury yield movements without the additional credit spread volatility that affects BIV; cleaner risk factor exposure for investors managing specific risk exposures
- Corporate credit spread widening in recessions — in economic downturns, corporate bond spreads widen (prices fall) as default risk rises; BIV underperforms VGIT during credit stress events even though all BIV holdings are investment grade
- Duration risk from 6-7 year effective duration — a 1% rise in interest rates causes approximately 6-7% price decline in BIV; investors must accept interim mark-to-market losses in rising rate environments
- Lower credit quality than pure Treasury ETFs — BIV's corporate bond component introduces default risk absent in VGIT; investment-grade defaults are rare but not zero (BBB-rated bonds can be downgraded to high-yield, triggering forced selling)
- Lower yield than BIV — VGIT sacrifices the credit spread (50-100 basis points typically) that BIV earns from investment-grade corporate bonds; over long periods, this yield difference compounds against VGIT versus BIV (though credit risk is also absent)
- Full U.S. government credit concentration — by definition VGIT is 100% U.S. government exposure; while U.S. Treasury default risk is extremely low, complete concentration in a single sovereign counterparty is worth acknowledging
- Interest rate risk is still significant — VGIT's 5-6 year duration means meaningful price sensitivity to interest rate changes; it is not a 'safe' investment from a price stability perspective, only from a credit perspective
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