BIV vs BLV: Head-to-Head Comparison
Last updated: March 2026 • Bond
Quick Verdict
Both ETFs score equally well for beginners (10/10). Your choice depends on your specific investment goals.
Side-by-Side Comparison
Key Differences Between BIV and BLV
BIV (Vanguard Intermediate-Term Bond ETF) is a intermediate-term bond fund managed by Vanguard. BIV holds a broad portfolio of U.S. investment-grade bonds with maturities ranging from five to ten years, sitting in the middle ground between short-term and long-term bond funds. It offers a moderate level of income while keeping interest rate risk manageable. Beginners often use BIV as a balanced fixed-income holding in a diversified portfolio.
BLV (Vanguard Long-Term Bond ETF) is a long-term bond fund managed by Vanguard. BLV invests in U.S. investment-grade bonds with maturities greater than ten years, making it one of the more interest-rate-sensitive bond ETFs available. It offers higher yields than shorter-duration bond funds but comes with greater price swings when rates change. BLV can be useful for investors who want maximum bond income or believe interest rates will decline.
The most notable differences are in fees (0.04% vs 0.04%), number of holdings (2,200 vs 3,000), and 5-year returns (1.40% vs -0.20%).
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Holdings Overlap Analysis
50%
Holdings Overlap
BIV and BLV share 50% of their top holdings. There is moderate overlap, so owning both provides some additional diversification but with diminishing returns.
Cost Comparison Over Time
If you invest $10,000 and hold for 20 years (assuming 8% annual returns):
BIV
Fee cost: $344
BLV
Fee cost: $344
Over 20 years, the fee difference amounts to $0 on a $10,000 investment. The cost difference is negligible — choose based on other factors.
Which One Should a Beginner Choose?
Choose BIV if: You want investors seeking a middle ground between stability and yield, portfolio builders who want a core intermediate bond allocation, those looking to balance equity risk with moderate fixed-income exposure. It's managed by Vanguard with an expense ratio of 0.04%.
Choose BLV if: You want investors with a strong conviction that interest rates will fall, income-focused investors who can tolerate price volatility, those seeking long-duration bonds to hedge against deflation risk. It's managed by Vanguard with an expense ratio of 0.04%.
Can You Own Both BIV and BLV?
Absolutely! With only 50% overlap, BIV and BLV complement each other well. A simple portfolio might allocate 60% to one and 40% to the other, or you could pair them with a bond ETF like BND for a complete three-fund portfolio.
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Frequently Asked Questions
Should I buy BIV or BLV?▾
Both ETFs score equally well for beginners (10/10). Your choice depends on your specific investment goals. However, both are solid options. BIV is best for investors who want investors seeking a middle ground between stability and yield, while BLV is better suited for investors with a strong conviction that interest rates will fall.
What is the difference between BIV and BLV?▾
BIV (Vanguard Intermediate-Term Bond ETF) tracks intermediate-term bond investments with 2,200 holdings and a 0.04% expense ratio. BLV (Vanguard Long-Term Bond ETF) focuses on long-term bond with 3,000 holdings at 0.04%. Their top holdings overlap by 50%.
Can I own both BIV and BLV?▾
Yes! With only 50% holdings overlap, BIV and BLV complement each other well. Owning both gives you broader diversification.