BIV vs SPY

Comparison between VANGUARD INTERMEDIATE-TERM BOND INDEX FUND ETF SHARES (BIV, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed BIV, delivering a return of +13.3% compared to +0.4%

BIV vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	BIV(ETF)	SPY(ETF)
Net Assets	$52B	$652B
Expense Ratio	0.03%	0.09%
Max Drawdown	25.30%	56.47%
Sharpe Ratio	0.35	2.07
5Y Beta	0.03	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	3.55%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

BIV

$52B

Winner

SPY

$652B

Expense Ratio

Winner

BIV

0.03%

SPY

0.09%

Max Drawdown

Winner

BIV

25.30%

SPY

56.47%

Sharpe Ratio

BIV

0.35

Winner

SPY

2.07

5Y Beta

Winner

BIV

0.03

SPY

1.00

P/E Ratio

BIV

N/A

SPY

28.24

Forward P/E

BIV

N/A

SPY

21.85

5Y Dividends CAGR

BIV

3.55%

Winner

SPY

5.43%

5Y EPS CAGR

BIV

N/A

SPY

25.79%

Debt to Equity

BIV

N/A

SPY

22.35%

P/S Ratio

BIV

N/A

SPY

3.55

P/B Ratio

BIV

N/A

SPY

5.29

BIV vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	BIV	SPY
1 month	+0.04%	+9.11%
3 months	-0.12%	+6.59%
6 months	+0.73%	+10.56%
1 year	+5.74%	+32.04%
5 years(CAGR)	+0.41%	+13.35%
10 years(CAGR)	+2.00%	+15.49%
Max(CAGR)	+3.87%	+8.50%

BIV

+0.04%

Winner

SPY

+9.11%

BIV

-0.12%

Winner

SPY

+6.59%

BIV

+0.73%

Winner

SPY

+10.56%

BIV

+5.74%

Winner

SPY

+32.04%

5Y(CAGR)

BIV

+0.41%

Winner

SPY

+13.35%

10Y(CAGR)

BIV

+2.00%

Winner

SPY

+15.49%

Max(CAGR)

BIV

+3.87%

Winner

SPY

+8.50%

BIV vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	BIV	SPY
2026	+0.31%	+8.27%
2025	+8.48%	+18.00%
2024	+2.01%	+25.59%
2023	+5.52%	+26.72%
2022	-12.65%	-18.64%
2021	-2.39%	+30.52%
2020	+9.43%	+17.28%
2019	+10.08%	+31.09%
2018	+0.14%	-5.24%
2017	+3.73%	+20.78%
2016	+2.78%	+13.59%
2015	+0.81%	+1.31%
2014	+7.02%	+14.56%
2013	-3.49%	+29.00%
2012	+6.89%	+14.17%
2011	+11.22%	+0.85%
2010	+8.70%	+13.14%
2009	+5.49%	+22.67%
2008	+6.85%	-36.25%
2007	+6.32%	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

BIV vs SPY Drawdown Comparison

The maximum drawdown for BIV was -18.95%, occurring on Oct 20, 2022. Recovery took 1387 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current BIV drawdown is -1.54%.

Rank	BIV	SPY
#1	-18.95% Aug 6, 2020 - Feb 13, 2026	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-13.63% Sep 15, 2008 - Dec 16, 2008	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-9.16% Mar 6, 2020 - May 22, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-7.66% May 1, 2013 - Aug 13, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-6.02% Nov 4, 2010 - Jun 1, 2011	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-5.93% Jul 8, 2016 - Sep 5, 2017	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-5.76% Dec 30, 2008 - Jul 8, 2009	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-5.05% Sep 7, 2017 - Jan 31, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-3.93% Mar 19, 2008 - Sep 15, 2008	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-3.59% Jan 30, 2015 - Feb 2, 2016	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-3.14% May 8, 2007 - Aug 17, 2007	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-2.87% Feb 27, 2026 - Mar 26, 2026	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-2.77% Sep 22, 2011 - Dec 16, 2011	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-2.74% Nov 30, 2009 - Mar 2, 2010	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-2.46% Sep 4, 2019 - Oct 4, 2019	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between BIV and SPY is 0.80 which considered as a strong positive correlation - the stocks tend to move together.

0.80

-101

Dividend Comparison (1999 - 2026)

BIV vs SPY dividend yield comparison.

Year	BIV	SPY
2026	1.40%	0.24%
2025	4.01%	1.07%
2024	3.79%	1.21%
2023	3.09%	1.40%
2022	2.41%	1.65%
2021	3.42%	1.20%
2020	2.95%	1.52%
2019	2.75%	1.75%
2018	2.88%	2.04%
2017	2.69%	1.80%
2016	3.01%	2.03%
2015	3.02%	2.06%
2014	3.42%	1.87%
2013	4.22%	1.81%
2012	5.15%	2.18%
2011	5.17%	2.05%
2010	4.54%	1.80%
2009	4.39%	1.95%
2008	4.45%	3.02%
2007	3.09%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%