CORP vs. VCLT
Compare and contrast key facts about PIMCO Investment Grade Corporate Bond Index ETF (CORP) and Vanguard Long-Term Corporate Bond ETF (VCLT).
CORP and VCLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CORP is a passively managed fund by PIMCO that tracks the performance of the ICE BofA US Corporate. It was launched on Sep 20, 2010. VCLT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 10+ Year Corporate Index. It was launched on Nov 19, 2009. Both CORP and VCLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CORP or VCLT.
Key characteristics
| CORP | VCLT | |
|---|---|---|
| YTD Return | -2.75% | -6.27% |
| 1Y Return | 2.55% | -1.38% |
| 3Y Return (Ann) | -2.36% | -6.43% |
| 5Y Return (Ann) | 1.29% | -0.36% |
| 10Y Return (Ann) | 2.47% | 2.35% |
| Sharpe Ratio | 0.29 | -0.14 |
| Daily Std Dev | 7.03% | 13.32% |
| Max Drawdown | -21.21% | -34.31% |
| Current Drawdown | -10.61% | -24.40% |
Correlation
The correlation between CORP and VCLT is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
CORP vs. VCLT - Performance Comparison
In the year-to-date period, CORP achieves a -2.75% return, which is significantly higher than VCLT's -6.27% return. Both investments have delivered pretty close results over the past 10 years, with CORP having a 2.47% annualized return and VCLT not far behind at 2.35%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CORP vs. VCLT - Expense Ratio Comparison
CORP has a 0.20% expense ratio, which is higher than VCLT's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
CORP vs. VCLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) and Vanguard Long-Term Corporate Bond ETF (VCLT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
CORP vs. VCLT - Dividend Comparison
CORP's dividend yield for the trailing twelve months is around 5.13%, which matches VCLT's 5.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 5.13% | 4.84% | 3.28% | 2.51% | 2.90% | 3.25% | 3.49% | 3.08% | 2.91% | 3.14% | 3.55% | 7.34% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.11% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% | 4.29% | 4.83% |
Drawdowns
CORP vs. VCLT - Drawdown Comparison
The maximum CORP drawdown since its inception was -21.21%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for CORP and VCLT. For additional features, visit the drawdowns tool.
Volatility
CORP vs. VCLT - Volatility Comparison
The current volatility for PIMCO Investment Grade Corporate Bond Index ETF (CORP) is 2.70%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 3.43%. This indicates that CORP experiences smaller price fluctuations and is considered to be less risky than VCLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.