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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Vanguard Global Credit Bond Fund Investor Shares, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Vanguard Global Credit Bond Fund Investor Shares (VGCIX) has returned -0.83% so far this year and 4.50% over the past 12 months.
Vanguard Global Credit Bond Fund Investor Shares
- 1D
- 0.42%
- 1M
- -2.54%
- YTD
- -0.83%
- 6M
- 0.16%
- 1Y
- 4.50%
- 3Y*
- 5.34%
- 5Y*
- 1.29%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Nov 15, 2018, VGCIX's average daily return is +0.01%, while the average monthly return is +0.32%. At this rate, your 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, VGCIX closed higher 47% 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 -2.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.52% | 1.24% | -2.54% | -0.83% | |||||||||
| 2025 | 0.74% | 1.58% | -0.52% | 0.42% | 0.21% | 1.41% | 0.31% | 0.73% | 1.18% | 0.72% | 0.41% | -0.13% | 7.26% |
| 2024 | -0.21% | -1.05% | 1.23% | -1.69% | 1.40% | 0.65% | 2.35% | 1.04% | 1.59% | -1.54% | 1.46% | -1.37% | 3.82% |
| 2023 | 3.51% | -2.44% | 2.13% | 0.64% | -0.85% | 0.03% | 0.65% | -0.22% | -1.87% | -1.00% | 4.61% | 3.89% | 9.17% |
| 2022 | -2.40% | -1.99% | -2.06% | -4.25% | 0.41% | -2.85% | 3.51% | -2.98% | -4.46% | -0.22% | 4.26% | -1.08% | -13.61% |
| 2021 | -0.71% | -1.43% | -0.88% | 0.83% | 0.46% | 1.13% | 1.08% | -0.18% | -0.87% | -0.18% | 0.18% | -0.09% | -0.70% |
Benchmark Metrics
Vanguard Global Credit Bond Fund Investor Shares has an annualized alpha of 3.21%, beta of 0.04, and R² of 0.03 versus S&P 500 Index. Calculated based on daily prices since November 16, 2018.
- This fund participated in 27.26% of S&P 500 Index downside but only 21.68% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R² of 0.03 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 0.03 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
- 3.21%
- Beta
- 0.04
- R²
- 0.03
- Upside Capture
- 21.68%
- Downside Capture
- 27.26%
Expense Ratio
VGCIX has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
VGCIX ranks 69 for risk / return — better than 69% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Vanguard Global Credit Bond Fund Investor Shares (VGCIX) and compare them to a chosen benchmark (S&P 500 Index).
| VGCIX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.29 | 0.90 | +0.39 |
Sortino ratioReturn per unit of downside risk | 1.81 | 1.39 | +0.42 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.71 | 1.40 | +0.31 |
Martin ratioReturn relative to average drawdown | 6.85 | 6.61 | +0.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore VGCIX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Vanguard Global Credit Bond Fund Investor Shares provided a 3.82% dividend yield over the last twelve months, with an annual payout of $0.37 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.37 | $0.47 | $0.43 | $0.42 | $0.24 | $0.33 | $0.51 | $0.72 | $0.04 |
Dividend yield | 3.82% | 4.82% | 4.54% | 4.38% | 2.61% | 3.05% | 4.55% | 6.77% | 0.35% |
Monthly Dividends
The table displays the monthly dividend distributions for Vanguard Global Credit Bond Fund Investor 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 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.16 | $0.47 |
| 2024 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.15 | $0.43 |
| 2023 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.14 | $0.42 |
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.24 |
| 2021 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.20 | $0.33 |
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 Investor 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 Investor Shares was 18.69%, occurring on Oct 20, 2022. Recovery took 671 trading sessions.
The current Vanguard Global Credit Bond Fund Investor Shares drawdown is 2.54%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.69% | Aug 5, 2021 | 306 | Oct 20, 2022 | 671 | Jun 26, 2025 | 977 |
| -11.46% | Mar 9, 2020 | 9 | Mar 19, 2020 | 55 | Jun 8, 2020 | 64 |
| -3.47% | Jan 5, 2021 | 51 | Mar 18, 2021 | 84 | Jul 19, 2021 | 135 |
| -2.95% | Mar 2, 2026 | 20 | Mar 27, 2026 | — | — | — |
| -1.79% | Sep 5, 2019 | 7 | Sep 13, 2019 | 15 | Oct 4, 2019 | 22 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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