Average Daily Volume
1.53M
Fund Overview
The Vanguard Intermediate-Term Bond ETF (BIV) is a fixed-income ETF that seeks to track the performance of the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Index. This index includes U.S. Treasury and investment-grade corporate bonds with maturities between 5 and 10 years. BIV provides investors with exposure to intermediate-term bonds, offering a balance between yield and interest rate risk. The fund is passively managed, aiming to replicate the index's performance with low expense ratios, making it a cost-effective choice for investors seeking steady income and diversification within their bond portfolios.
- Asset Class
-
Bond
- Industry
-
Corporate Bonds
- Annual Dividend Rate
-
- Smart Beta
-
No
- Leveraged / Inverse
-
N/A / No
- Dividend Quality - Yield
-
- 4.64 %
- Currency Hedged
-
No
- Portfolio Turnover
-
55 %
- Dividend Date
-
Why Invest in the BIV ETF?
Potential Benefits
- Diversification across U.S. Treasury and investment-grade corporate bonds, reducing credit risk.
- Lower expense ratio compared to many actively managed bond funds, enhancing net returns.
- Intermediate-term focus balances yield potential with moderate interest rate sensitivity.
- Passive management reduces turnover and trading costs, improving tax efficiency.
- Liquidity and transparency due to its ETF structure, allowing easy trading.
Potential Risks
- Interest rate risk: Rising rates can negatively impact bond prices, especially in the intermediate-term segment.
- Credit risk: Although minimal, corporate bonds in the portfolio carry default risk.
- Inflation risk: Fixed coupon payments may lose purchasing power over time if inflation rises.
- Market volatility: Bond prices can fluctuate due to macroeconomic factors and investor sentiment.
RSI data unavailable or insufficient history.
Monthly Returns (%)
| Year |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
| 2026 |
0.0%
|
+1.8%
|
-2.0%
|
+0.2%
|
+0.1%
|
+0.2%
|
-1.2%
|
+0.1%
|
-2.9%
|
0.0%
|
-
|
-
|
| 2025 |
+0.6%
|
+2.2%
|
+0.3%
|
+0.9%
|
-0.5%
|
+1.6%
|
-0.2%
|
+1.5%
|
+0.7%
|
+0.5%
|
+1.0%
|
-0.4%
|
| 2024 |
0.0%
|
-1.6%
|
+0.9%
|
-2.5%
|
+1.9%
|
+1.0%
|
+2.6%
|
+1.5%
|
+1.4%
|
-2.9%
|
+1.1%
|
-1.6%
|
| 2023 |
+3.4%
|
-3.0%
|
+3.4%
|
+0.8%
|
-1.2%
|
-0.8%
|
-0.1%
|
-0.5%
|
-2.5%
|
-1.5%
|
+4.7%
|
+3.7%
|
| 2022 |
-2.1%
|
-0.9%
|
-3.4%
|
-3.9%
|
+0.8%
|
-1.6%
|
+3.0%
|
-3.5%
|
-4.3%
|
-0.7%
|
+3.7%
|
-0.9%
|
| 2021 |
-0.7%
|
-1.8%
|
-1.6%
|
+0.9%
|
+0.6%
|
+0.7%
|
+1.4%
|
-0.3%
|
-1.3%
|
-0.5%
|
+0.3%
|
-0.1%
|
| 2020 |
+2.5%
|
+1.9%
|
-1.6%
|
+2.4%
|
+1.4%
|
+1.1%
|
+1.3%
|
-0.4%
|
0.0%
|
-0.7%
|
+1.2%
|
+0.2%
|
| 2019 |
+1.6%
|
-0.1%
|
+2.2%
|
+0.1%
|
+2.1%
|
+1.5%
|
+0.1%
|
+3.1%
|
-0.7%
|
+0.3%
|
-0.2%
|
-0.1%
|
| 2018 |
-1.5%
|
-1.0%
|
+0.5%
|
-1.0%
|
+0.8%
|
0.0%
|
+0.1%
|
+0.8%
|
-0.7%
|
-0.5%
|
+0.5%
|
+2.0%
|
| 2017 |
+0.3%
|
+0.7%
|
0.0%
|
+1.2%
|
+0.8%
|
-0.2%
|
+0.6%
|
+1.1%
|
-0.9%
|
0.0%
|
-0.3%
|
+0.2%
|
< -5%
-5% to -2%
-2% to 0%
0%
0% to +2%
+2% to +5%
> +5%
Top Holdings (by weight)
| Symbol |
Company Name |
Weight |
No holdings data available.
Related ETFs: BIV vs Peers
Comparison highlights key differences on cost, coverage, and focus within sector ETFs.
Investment Strategy
BIV tracks the Bloomberg U.S. 5–10 Year Government/Credit Float Adjusted Index, which includes Treasury bonds, government agency bonds, and investment-grade corporate bonds with maturities between 5 and 10 years. The index is market-cap weighted, meaning larger issuers have a greater influence on performance. The fund employs a passive management strategy, aiming to replicate the index's holdings and performance with minimal tracking error. It primarily holds physical bonds rather than derivatives, ensuring direct exposure to the underlying securities. The fund is rebalanced periodically to align with index changes.
Frequently Asked Questions
What types of bonds does BIV hold?
BIV holds U.S. Treasury bonds, government agency bonds, and investment-grade corporate bonds with maturities between 5 and 10 years.
How does BIV differ from BND?
BND (Vanguard Total Bond Market ETF) provides broader exposure to the entire U.S. investment-grade bond market, including short, intermediate, and long-term bonds, while BIV focuses exclusively on intermediate-term bonds (5–10 years).
Is BIV a good choice for income investors?
Yes, BIV offers a steady stream of income through its bond coupon payments, with moderate interest rate risk compared to long-term bond ETFs.
How often does BIV rebalance?
BIV rebalances periodically to match its benchmark index, typically when the index undergoes changes due to bond maturities or issuer adjustments.
Industry Overview
The Vanguard Intermediate-Term Bond ETF (BIV) is part of the fixed-income ETF market, specifically targeting intermediate-term bonds. These bonds are favored by investors seeking a balance between yield and duration risk. Intermediate-term bonds typically offer higher yields than short-term bonds while being less sensitive to interest rate changes than long-term bonds. BIV provides exposure to a diversified mix of U.S. government and high-quality corporate bonds, making it a core holding for income-focused portfolios or those looking to mitigate equity market volatility.
Alternative Comparison
Compared to its peers, BIV stands out for its low expense ratio (0.04%), making it one of the most cost-efficient intermediate-term bond ETFs. For example, the iShares 7–10 Year Treasury Bond ETF (IEF) focuses solely on Treasuries, offering lower credit risk but potentially lower yields. The Schwab U.S. Aggregate Bond ETF (SCHZ) provides broader exposure, including mortgage-backed securities, but with slightly higher interest rate sensitivity. BIV strikes a balance between yield and risk by blending government and corporate bonds.
Issuer Overview
Vanguard is one of the largest and most respected investment management companies globally, known for its low-cost index funds and ETFs. The firm is structured as a client-owned mutual company, allowing it to pass cost savings to investors through competitively low expense ratios. Vanguard’s fixed-income ETFs, including BIV, are widely used by both individual and institutional investors for their reliability, transparency, and cost efficiency.
Conclusion
The Vanguard Intermediate-Term Bond ETF (BIV) is a well-rounded choice for investors seeking diversified exposure to intermediate-term bonds. Its low cost, passive management, and high credit quality make it suitable for both core fixed-income allocations and tactical portfolio adjustments. While it carries typical bond risks like interest rate sensitivity, its intermediate duration and mix of Treasury and corporate bonds offer a compelling risk-reward profile for income-focused investors.
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