CWB vs. VCLT
Compare and contrast key facts about SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and Vanguard Long-Term Corporate Bond ETF (VCLT).
CWB and VCLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009. 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 CWB 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: CWB or VCLT.
Key characteristics
| CWB | VCLT | |
|---|---|---|
| YTD Return | 10.47% | 1.05% |
| 1Y Return | 21.04% | 13.29% |
| 3Y Return (Ann) | -2.13% | -6.38% |
| 5Y Return (Ann) | 10.53% | -0.75% |
| 10Y Return (Ann) | 9.14% | 2.69% |
| Sharpe Ratio | 2.54 | 1.29 |
| Sortino Ratio | 3.62 | 1.87 |
| Omega Ratio | 1.46 | 1.22 |
| Calmar Ratio | 0.85 | 0.49 |
| Martin Ratio | 13.80 | 4.06 |
| Ulcer Index | 1.52% | 3.53% |
| Daily Std Dev | 8.24% | 11.13% |
| Max Drawdown | -32.06% | -34.31% |
| Current Drawdown | -8.15% | -18.50% |
Correlation
The correlation between CWB and VCLT is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
CWB vs. VCLT - Performance Comparison
In the year-to-date period, CWB achieves a 10.47% return, which is significantly higher than VCLT's 1.05% return. Over the past 10 years, CWB has outperformed VCLT with an annualized return of 9.14%, while VCLT has yielded a comparatively lower 2.69% annualized return. 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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CWB vs. VCLT - Expense Ratio Comparison
CWB has a 0.40% expense ratio, which is higher than VCLT's 0.04% expense ratio.
Risk-Adjusted Performance
CWB vs. VCLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) 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
CWB vs. VCLT - Dividend Comparison
CWB's dividend yield for the trailing twelve months is around 1.74%, less than VCLT's 4.94% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.74% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% | 7.36% | 3.66% |
VCLT Vanguard Long-Term Corporate Bond ETF | 4.94% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% | 4.29% | 4.83% |
Drawdowns
CWB vs. VCLT - Drawdown Comparison
The maximum CWB drawdown since its inception was -32.06%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for CWB and VCLT. For additional features, visit the drawdowns tool.
Volatility
CWB vs. VCLT - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) is 2.21%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 3.72%. This indicates that CWB 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.