Vanguard Long-Term Bond ETF (BLV): Complete Beginner's Guide
Last updated: March 2026 • Vanguard • Long-Term Bond
Expense Ratio
0.04%
AUM
$8.0B
Dividend Yield
4.50%
Inception
2007
Beginner Score
10/10
What is Vanguard Long-Term Bond ETF?
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.
BLV is managed by Vanguard and has been available since 2007. With $8.0B in assets under management, it's a growing fund that has attracted significant investor interest. The fund charges an expense ratio of 0.04%, which means for every $10,000 you invest, you pay approximately $4 per year in management fees.
BLV at a Glance — Key Metrics
| Expense Ratio | 0.04% |
| Total Holdings | 3,000 |
| P/E Ratio | N/A |
| Beta | 0.25 |
| Dividend Yield | 4.50% |
| AUM | $8.0B |
| Inception Year | 2007 |
| Issuer | Vanguard |
Top 10 Holdings in BLV
BLV holds 3,000 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | U.S. Treasury 4.25% 2045 | GOVT | 3.00% |
| 2 | U.S. Treasury 3.625% 2053 | GOVT | 2.80% |
| 3 | U.S. Treasury 4.0% 2042 | GOVT | 2.50% |
| 4 | U.S. Treasury 3.375% 2048 | GOVT | 2.20% |
| 5 | U.S. Treasury 4.5% 2044 | GOVT | 2.00% |
| 6 | Apple Inc. 4.65% 2053 | AAPL | 1.50% |
| 7 | Microsoft Corp. 3.95% 2049 | MSFT | 1.30% |
| 8 | AT&T Inc. 4.35% 2045 | T | 1.10% |
| 9 | Comcast Corp. 4.25% 2053 | CMCSA | 1.00% |
| 10 | Verizon Communications 4.5% 2048 | VZ | 0.90% |
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BLV Performance History
Here's how BLV has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
0.50%
1 Year
3.50%
3 Year
-0.80%
5 Year
-0.20%
10 Year
2.80%
Beginner Suitability Score: 10/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
BLV scores 10/10 because it has very low fees, shows lower-than-average volatility, offers broad diversification across 3,000 holdings, and has been available since 2007, giving it a proven track record.
How to Buy BLV — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "BLV" — Use the search bar in your brokerage platform to find Vanguard Long-Term Bond ETF.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
Dollar Cost Averaging Into BLV
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With BLV's expense ratio of 0.04%, a $10,000 investment would lose approximately $344 to fees over 20 years compared to a zero-fee investment. This is a reasonable fee level for the value provided.
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Pros and Cons of BLV
Pros
- ✓Highest yields among Vanguard's maturity-segmented bond ETFs
- ✓Strong potential for capital gains when interest rates decline
- ✓Ultra-low 0.04% expense ratio keeps costs minimal for long-term bond exposure
- ✓Broad diversification across thousands of long-dated investment-grade bonds
Cons
- ✗Significant price declines when interest rates rise due to high duration
- ✗More volatile than short or intermediate-term bond ETFs
- ✗Recent years have shown negative returns due to the rising rate environment
BLV vs Similar ETFs
See how BLV stacks up against similar funds:
Frequently Asked Questions
Is BLV a good ETF for beginners?▾
BLV has a Beginner Suitability Score of 10/10 on our scale. This makes it a strong choice for new investors due to its low fees and broad diversification.
What is the expense ratio of BLV?▾
BLV has an expense ratio of 0.04%. This means for every $10,000 you invest, you pay approximately $4 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in BLV?▾
You can invest in BLV with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does BLV pay dividends?▾
Yes, BLV pays dividends with a current yield of approximately 4.50%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in BLV?▾
The top holdings in BLV include U.S. Treasury 4.25% 2045 (3.00%), U.S. Treasury 3.625% 2053 (2.80%), U.S. Treasury 4.0% 2042 (2.50%), and more. The fund holds 3,000 total positions, providing broad diversification across many companies.