BLV
Vanguard Long-Term Bond ETF · Vanguard
Bonds & Treasuries
1Y Return
-3.9%
Expense Ratio
0.03%
AUM
$5.6B
Dividend Yield
5.07%
Avg Annual Growth (10Y)
+0.7%
Issuer
Vanguard

Overview

Long-dated Treasuries and investment-grade corporates together — nearly 3,000 bonds maturing in ten-plus years, yielding above 5%.

Top Holdings

TickerHoldingWeight
USTLong US Treasuries~48%
CORPLong IG Corporates~46%
GOVAgency & Supranational~4%
TAT&T long bonds0.5%
VZVerizon long bonds0.4%
ORCLOracle long bonds0.4%
BACBank of America long bonds0.3%
DUKDuke Energy long bonds0.3%
CVSCVS Health long bonds0.3%
MSFTMicrosoft long bonds0.3%

Fund Details

Index
Bloomberg US Long Government/Credit
# Holdings
~2,970
Inception
Apr 2007
Exchange
NYSE Arca
Structure
Open-End Fund
Distribution
Monthly
Avg Annual Growth (10Y)
+0.7%
Avg Annual Yield (10Y)
4.05%

Investment Thesis

BLV is the diversified way to buy the long end: half government, half blue-chip corporate, which cushions the pure-Treasury volatility while pushing the yield above 5% monthly. The trailing-year loss is the long-duration story everywhere this September; the flip side is that no mainstream bond fund gains more if yields mean-revert. Corporate spread risk is the tradeoff versus VGLT.

Who It's For

Long-horizon income investors locking 5%+ for decades, and duration buyers who prefer a credit-cushioned version of the long-bond trade. Liability-matchers' favourite Vanguard fund.

10-Year History

Annual Closing Price
YearClose% Chg
2016$70.84--
2017$77.22+9.0%
2018$73.36-5.0%
2019$87.30+19.0%
2020$99.52+14.0%
2021$96.53-3.0%
2022$68.54-29.0%
2023$71.96+5.0%
2024$67.65-6.0%
2025$69.00+2.0%
Annual Dividend Yield
YearYield
20163.80%
20173.70%
20184.10%
20193.50%
20202.80%
20213.00%
20224.40%
20235.00%
20245.10%
20255.10%
Annual AUM
YearAUM% Chg
2016$2B--
2017$2.5B+25.0%
2018$3B+20.0%
2019$4B+33.3%
2020$5.5B+37.5%
2021$6.5B+18.2%
2022$5B-23.1%
2023$5.5B+10.0%
2024$5.5B+0.0%
2025$5.5B+0.0%

Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.

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