- CUSIP
- 92203J852
- Issuer
- Vanguard
- Inception Date
- Nov 15, 2018
- Category
- Total Bond Market
- Min. Investment
- $50,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
VGCAX Performance Chart
Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) is up 0.4% since the beginning of the year. VGCAX is currently trading at $19 per share. Investors who bought $1,000 worth of VGCAX shares 5 years ago would now be looking at an investment worth $1,046.
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Returns By Period
Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) has returned 0.35% so far this year and 2.91% over the past 12 months.
Vanguard Global Credit Bond Fund Admiral Shares
- 1D
- 0.11%
- 1M
- -1.04%
- 6M
- -0.22%
- YTD
- 0.35%
- 1Y
- 2.91%
- 3Y*
- 5.66%
- 5Y*
- 0.91%
- 10Y*
- —
- ALL TIME*
- 3.77%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
VGCAX Monthly Returns History
Based on dividend-adjusted daily data since Nov 15, 2018, VGCAX's average daily return is +0.02%, while the average monthly return is +0.32%. At this rate, an investment would double in approximately 18.1 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +5.2%, while the worst month was Mar 2020 at -6.4%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, VGCAX closed higher 51% of trading days. The best single day was Nov 10, 2022 with a return of +1.7%, while the worst single day was Mar 18, 2020 at -2.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.57% | 1.18% | -2.19% | 0.74% | 0.78% | 0.47% | -1.16% | 0.35% | |||||
| 2025 | 0.63% | 1.68% | -0.55% | 0.47% | 0.16% | 1.44% | 0.26% | 0.78% | 1.20% | 0.77% | 0.41% | -0.16% | 7.30% |
| 2024 | -0.16% | -1.05% | 1.21% | -1.69% | 1.40% | 0.63% | 2.35% | 1.10% | 1.62% | -1.49% | 1.35% | -1.24% | 3.99% |
| 2023 | 3.51% | -2.44% | 2.15% | 0.59% | -0.85% | 0.01% | 0.76% | -0.27% | -1.90% | -0.89% | 4.55% | 3.92% | 9.22% |
| 2022 | -2.36% | -1.99% | -2.08% | -4.21% | 0.41% | -2.83% | 3.56% | -3.08% | -4.33% | -0.22% | 4.20% | -1.00% | -13.43% |
| 2021 | -0.67% | -1.43% | -0.90% | 0.87% | 0.41% | 1.11% | 1.17% | -0.18% | -0.84% | -0.23% | 0.18% | -0.11% | -0.64% |
Benchmark Metrics
Vanguard Global Credit Bond Fund Admiral Shares has an annualized alpha of 3.18%, beta of 0.05, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since November 15, 2018.
- This fund participated in 26.86% of S&P 500 Index downside but only 20.59% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.05 may look defensive, but with R2 of 0.04 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.04 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.18%
- Beta
- 0.05
- R²
- 0.04
- Upside Capture
- 20.59%
- Downside Capture
- 26.86%
Expense Ratio
VGCAX has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
VGCAX ranks 27 for risk / return — above 27% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Vanguard Global Credit Bond Fund Admiral Shares (VGCAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VGCAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 2.00 | -0.81 |
| Martin ratioReturn relative to average drawdown | 3.74 | 8.49 | -4.75 |
Dividends
Dividend History
Vanguard Global Credit Bond Fund Admiral Shares provided a 5.06% dividend yield over the last twelve months, with an annual payout of $0.96 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.96 | $0.95 | $0.88 | $0.85 | $0.50 | $0.68 | $1.04 | $1.46 | $0.07 |
Dividend yield | 5.06% | 4.91% | 4.65% | 4.48% | 2.72% | 3.16% | 4.65% | 6.88% | 0.36% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Global Credit Bond Fund Admiral Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.22 | $0.43 | |||||
| 2025 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.32 | $0.95 |
| 2024 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.30 | $0.88 |
| 2023 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.29 | $0.85 |
| 2022 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.18 | $0.50 |
| 2021 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.41 | $0.68 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Vanguard Global Credit Bond Fund Admiral Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Vanguard Global Credit Bond Fund Admiral Shares was 18.63%, occurring on Oct 21, 2022. Recovery took 661 trading sessions.
The current Vanguard Global Credit Bond Fund Admiral Shares drawdown is 1.41%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-18.63%Oct 2022 | 1y 2mo | 2y 7mo | 3y 10moAug 2021 - Jun 2025 | Bear market2022 |
-11.42%Mar 2020 | 10d | 2mo 21d | 3mo 1dMar 2020 - Jun 2020 | COVID crash2020 |
-3.51%Mar 2021 | 2mo 12d | 4mo 3d | 6mo 15dJan 2021 - Jul 2021 | — |
-2.90%Mar 2026 | 25d | 3mo 4d | 3mo 29dMar 2026 - Jun 2026 | — |
-1.74%Sep 2019 | 8d | 21d | 29dSep 2019 - Oct 2019 | — |
Drawdown Indicators
| VGCAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.63% | -56.78% | +38.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.90% | -9.10% | +6.20% |
Max Drawdown (3Y)Largest decline over 3 years | -3.54% | -18.90% | +15.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.63% | -25.43% | +6.80% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.41% | -1.58% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -4.27% | -10.70% | +6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 2.14% | -1.22% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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