Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
iShares Intermediate Government/Credit Bond ETF
$103.19−0.01 (0.00%)
- 0.20%
- $3.8B
- −0.4%
- 3.77%
- 0.1M sh
- $103.08
- low $102.57high $108.34
The ETF.net GVI Grade
A
Score 77 out of 100
- 14 of 117
Score 77 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A71 out of 100Rank 33 of 117Mission
Whether the fund did what it promised, tested against its stated mandate.A93 out of 100Rank 69 of 101Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B67 out of 100Rank 19 of 116Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A74 out of 100Rank 16 of 117Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A72 out of 100Rank 28 of 116Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A87 out of 100Rank 10 of 117
Our read on GVI
AMost core bond funds swallow the whole market, long end included. GVI keeps to the middle: US government and investment-grade corporate bonds maturing in one to ten years, nothing longer. Running since 2007, pays monthly.
The fund seeks to track an index of U.S. government and investment-grade corporate bonds maturing from one to ten years. Its stated purpose is to help balance income and interest-rate risk.
Why people hold it
- The mandate is narrow on purpose: US government and investment-grade corporate bonds, one to ten years to maturity, built to balance income against interest-rate risk.ishares.com
- 0.20% a year, well under the typical fee in its core-bond peer group, from a fund that has been trading since 2007.
- It holds what its Bloomberg index holds, closely, which is why it rates as one of the stronger builds among the core bond funds we grade.
- Income lands monthly, and with billions in assets this is an established listing rather than a thin niche product.
Worth knowing
- Whole-market core rivals BND, SPAB and SCHZ run at 0.03%. The intermediate-only cut costs more than the everything-bond version.
- Capping maturities at ten years softens rate swings, it does not remove them, and the corporate sleeve carries credit risk Treasuries do not.ishares.com
- Trading is moderate rather than heavy, so spreads can widen on large or hurried orders.
GVI Holdings
- Bonds
- 6,248
- 7%
- Treasury Note 4.63% 02/15/2035
Geography
- United States92.54%
- Canada1.63%
- United Kingdom1.16%
- Japan0.84%
- Luxembourg0.57%
- Philippines0.46%
- Germany0.29%
- Mexico0.27%
- 2.23%
GVI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
GVI$9,958
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GVI |
|---|---|
| Year to date | −1.2% |
| 1 month | −0.4% |
| 3 months | −1.3% |
| 1 year | −0.4% |
| 3 years | +4.3% |
| 5 years | +0.8% |
| 10 years | +1.6% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GVI |
|---|---|---|
| 2026 YTD | −1.2% | |
| 2025 | +6.7% | |
| 2024 | +2.9% | |
| 2023 | +5.1% | |
| 2022 | −8.3% | |
| 2021 | −1.9% | |
| 2020 | +6.4% |
GVI in the news
GVI Dividends
- 3.77%
- $3.89
- $0.33 per share
- Monthly
Distribution history
GVI Risk
- 3.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.12
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −11.5%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.59
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GVI Cost
0.20%
GVI0.20%
- The middle half of US Aggregate Bond funds
- Median 0.34%
31 of the 113 US Aggregate Bond funds charge less.
Other funds in US Aggregate Bond
- AVCRBVanguard Core Bond ETFExpense ratio 0.10%1 year return −1.6%
- AAGGYWisdomTree Yield Enhanced U.S. Aggregate Bond FundExpense ratio 0.12%1 year return −2.4%
- AAVIGAvantis Core Fixed Income ETFExpense ratio 0.15%1 year return −2.1%
- ABNDPVanguard Core-Plus Bond Index ETFExpense ratio 0.05%1 year return —
- AFLCBFranklin U.S. Core Bond ETFExpense ratio 0.15%1 year return −2.0%