GVI vs SPY

Comparison between ISHARES INTERMEDIATE GOVERNMENT/CREDIT BOND ETF (GVI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed GVI, delivering a return of +13.3% compared to +1.1%

GVI vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GVI(ETF)	SPY(ETF)
Net Assets	$3.80B	$652B
Expense Ratio	0.20%	0.09%
Max Drawdown	15.45%	56.47%
Sharpe Ratio	0.20	2.07
5Y Beta	0.00	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	15.53%	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

GVI

$3.80B

Winner

SPY

$652B

Expense Ratio

GVI

0.20%

Winner

SPY

0.09%

Max Drawdown

Winner

GVI

15.45%

SPY

56.47%

Sharpe Ratio

GVI

0.20

Winner

SPY

2.07

5Y Beta

Winner

GVI

0.00

SPY

1.00

P/E Ratio

GVI

N/A

SPY

28.24

Forward P/E

GVI

N/A

SPY

21.85

5Y Dividends CAGR

Winner

GVI

15.53%

SPY

5.43%

5Y EPS CAGR

GVI

N/A

SPY

25.79%

Debt to Equity

GVI

N/A

SPY

22.35%

P/S Ratio

GVI

N/A

SPY

3.55

P/B Ratio

GVI

N/A

SPY

5.29

GVI vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	GVI	SPY
1 month	+0.09%	+9.11%
3 months	-0.01%	+6.59%
6 months	+0.92%	+10.56%
1 year	+4.56%	+32.04%
5 years(CAGR)	+1.07%	+13.35%
10 years(CAGR)	+1.84%	+15.49%
Max(CAGR)	+2.90%	+8.50%

GVI

+0.09%

Winner

SPY

+9.11%

GVI

-0.01%

Winner

SPY

+6.59%

GVI

+0.92%

Winner

SPY

+10.56%

GVI

+4.56%

Winner

SPY

+32.04%

5Y(CAGR)

GVI

+1.07%

Winner

SPY

+13.35%

10Y(CAGR)

GVI

+1.84%

Winner

SPY

+15.49%

Max(CAGR)

GVI

+2.90%

Winner

SPY

+8.50%

GVI vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	GVI	SPY
2026	+0.39%	+8.27%
2025	+6.67%	+18.00%
2024	+3.20%	+25.59%
2023	+4.97%	+26.72%
2022	-8.04%	-18.64%
2021	-1.86%	+30.52%
2020	+6.17%	+17.28%
2019	+6.42%	+31.09%
2018	+0.87%	-5.24%
2017	+1.83%	+20.78%
2016	+1.83%	+13.59%
2015	+0.52%	+1.31%
2014	+2.75%	+14.56%
2013	-0.81%	+29.00%
2012	+3.65%	+14.17%
2011	+6.01%	+0.85%
2010	+5.16%	+13.14%
2009	+2.78%	+22.67%
2008	+7.86%	-36.25%
2007	+7.61%	+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%

GVI vs SPY Drawdown Comparison

The maximum drawdown for GVI was -12.93%, occurring on Oct 20, 2022. Recovery took 976 trading sessions.

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

The current GVI drawdown is -0.81%.

Rank	GVI	SPY
#1	-12.93% Aug 2, 2021 - Jun 23, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-7.54% Sep 9, 2008 - Dec 1, 2008	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-5.96% Mar 9, 2020 - May 19, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-3.57% May 1, 2013 - May 20, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-3.53% Jan 14, 2009 - Jul 31, 2009	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-3.39% Oct 11, 2010 - May 27, 2011	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-3.30% Jul 8, 2016 - Aug 29, 2017	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-2.99% Sep 7, 2017 - Jan 3, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-2.54% Apr 11, 2008 - Sep 3, 2008	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-2.17% Dec 31, 2020 - Aug 2, 2021	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-1.79% Feb 27, 2026 - Mar 26, 2026	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-1.78% Jan 30, 2015 - Oct 2, 2015	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-1.69% Dec 30, 2008 - Jan 14, 2009	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-1.69% Sep 21, 2011 - Nov 1, 2011	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-1.68% May 8, 2007 - Jul 26, 2007	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between GVI and SPY is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (1999 - 2026)

GVI vs SPY dividend yield comparison.

Year	GVI	SPY
2026	1.21%	0.24%
2025	3.48%	1.07%
2024	3.40%	1.21%
2023	2.75%	1.40%
2022	1.86%	1.65%
2021	1.46%	1.20%
2020	1.84%	1.52%
2019	2.29%	1.75%
2018	2.16%	2.04%
2017	1.91%	1.80%
2016	1.77%	2.03%
2015	1.75%	2.06%
2014	1.72%	1.87%
2013	1.77%	1.81%
2012	2.13%	2.18%
2011	2.63%	2.05%
2010	2.86%	1.80%
2009	3.32%	1.95%
2008	4.02%	3.02%
2007	4.42%	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%