CORP vs. VCLT
CORP (PIMCO Investment Grade Corporate Bond Index ETF) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both Corporate Bonds funds - CORP tracks the ICE BofA US Corporate while VCLT tracks the Bloomberg U.S. 10+ Year Corporate Bond Index. Both are passively managed. Over the past 10 years, CORP returned 2.80%/yr vs 2.25%/yr for VCLT. Their correlation of 0.83 suggests significant overlap in exposure. CORP charges 0.20%/yr vs 0.03%/yr for VCLT.
Performance
CORP vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, CORP achieves a 0.91% return, which is significantly lower than VCLT's 1.49% return. Over the past 10 years, CORP has outperformed VCLT with an annualized return of 2.80%, while VCLT has yielded a comparatively lower 2.25% annualized return.
CORP
- 1D
- 0.68%
- 1M
- 0.70%
- YTD
- 0.91%
- 6M
- 0.95%
- 1Y
- 5.80%
- 3Y*
- 5.67%
- 5Y*
- 0.78%
- 10Y*
- 2.80%
VCLT
- 1D
- 1.18%
- 1M
- 1.50%
- YTD
- 1.49%
- 6M
- 0.90%
- 1Y
- 6.99%
- 3Y*
- 4.53%
- 5Y*
- -2.04%
- 10Y*
- 2.25%
CORP vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 0.91% | 7.96% | 2.47% | 9.13% | -14.96% | -1.18% | 9.70% | 14.80% | -3.29% | 6.56% |
VCLT Vanguard Long-Term Corporate Bond ETF | 1.49% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
Correlation
The correlation between CORP and VCLT is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2010 | 0.83 |
The correlation between CORP and VCLT shifts across timeframes, from 0.83 (all time) to 0.97 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CORP vs. VCLT — Risk / Return Rank
CORP
VCLT
CORP vs. VCLT - Risk-Adjusted Trends 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.
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.
| CORP | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.15 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 1.34 | +0.69 |
| Martin ratioReturn relative to average drawdown | 6.42 | 3.25 | +3.17 |
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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.
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Drawdown Indicators
| CORP | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.21% | -34.31% | +13.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -5.25% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -6.06% | -13.03% | +6.97% |
Max Drawdown (5Y)Largest decline over 5 years | -21.21% | -34.31% | +13.10% |
Max Drawdown (10Y)Largest decline over 10 years | -21.21% | -34.31% | +13.10% |
Current DrawdownCurrent decline from peak | -0.73% | -13.93% | +13.20% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -8.16% | +4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 2.16% | -1.25% |
Volatility
CORP vs. VCLT - Volatility Comparison
The current volatility for PIMCO Investment Grade Corporate Bond Index ETF (CORP) is 1.45%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 2.47%. 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.
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Volatility by Period
| CORP | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 2.47% | -1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 3.12% | 5.94% | -2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.19% | 7.95% | -3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.89% | 12.78% | -5.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.08% | 12.85% | -5.77% |
CORP vs. VCLT - Expense Ratio Comparison
CORP has a 0.20% expense ratio, which is higher than VCLT's 0.03% 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%.
Dividends
CORP vs. VCLT - Dividend Comparison
CORP's dividend yield for the trailing twelve months is around 4.83%, less than VCLT's 5.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORP PIMCO Investment Grade Corporate Bond Index ETF | 4.83% | 4.77% | 4.74% | 4.12% | 3.28% | 2.51% | 2.90% | 3.25% | 3.18% | 3.08% | 2.91% | 3.14% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.52% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
Frequently Asked Questions
With a correlation of 0.97, CORP and VCLT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VCLT has higher volatility (2.47%) compared to CORP (1.45%). In terms of maximum drawdown, CORP dropped -21.21% vs VCLT's -34.31%.
On 10-year performance, CORP leads with 2.80% vs 2.25% for VCLT. On fees, VCLT is cheaper at 0.03% per year. On volatility, CORP has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CORP has performed better with a 2.80% return vs 2.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT is cheaper with a 0.03% expense ratio, compared with 0.20% for CORP.
VCLT has the higher dividend yield at 5.52%, compared with 4.83% for CORP.
CORP tracks ICE BofA US Corporate, while VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index. They also come from different issuers: PIMCO and Vanguard. Their fees differ too: 0.20% for CORP and 0.03% for VCLT.
CORP currently has the higher Sharpe Ratio (1.39 vs 0.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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