GIGB vs. VCEB
GIGB (Goldman Sachs Access Investment Grade Corporate Bond ETF) and VCEB (Vanguard ESG U.S. Corporate Bond ETF) are both Corporate Bonds funds - GIGB tracks the FTSE Goldman Sachs Investment Grade Corporate Bond Index while VCEB tracks the Bloomberg Barclays MSCI US Corp SRI Select Index. Both are passively managed. Over the past 5 years, GIGB returned 0.31%/yr vs 0.38%/yr for VCEB. With a 0.98 correlation, they move nearly in lockstep. GIGB charges 0.14%/yr vs 0.12%/yr for VCEB.
Performance
GIGB vs. VCEB - Performance Comparison
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Returns By Period
In the year-to-date period, GIGB achieves a 0.99% return, which is significantly higher than VCEB's 0.56% return.
GIGB
- 1D
- -0.02%
- 1M
- 0.70%
- YTD
- 0.99%
- 6M
- 1.39%
- 1Y
- 5.80%
- 3Y*
- 5.40%
- 5Y*
- 0.31%
- 10Y*
- —
VCEB
- 1D
- -0.07%
- 1M
- 0.67%
- YTD
- 0.56%
- 6M
- 1.06%
- 1Y
- 5.13%
- 3Y*
- 5.34%
- 5Y*
- 0.38%
- 10Y*
- —
GIGB vs. VCEB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 0.99% | 7.58% | 1.68% | 8.80% | -15.80% | -1.64% | 2.80% |
VCEB Vanguard ESG U.S. Corporate Bond ETF | 0.56% | 7.48% | 2.23% | 8.52% | -15.15% | -1.99% | 2.45% |
Correlation
The correlation between GIGB and VCEB 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 | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.98 |
The correlation between GIGB and VCEB has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
GIGB vs. VCEB — Risk / Return Rank
GIGB
VCEB
GIGB vs. VCEB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) and Vanguard ESG U.S. Corporate Bond ETF (VCEB). 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.
| GIGB | VCEB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.65 | +0.19 |
| Martin ratioReturn relative to average drawdown | 5.74 | 5.02 | +0.72 |
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Drawdowns
GIGB vs. VCEB - Drawdown Comparison
The maximum GIGB drawdown since its inception was -22.25%, roughly equal to the maximum VCEB drawdown of -21.60%. Use the drawdown chart below to compare losses from any high point for GIGB and VCEB.
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Drawdown Indicators
| GIGB | VCEB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.25% | -21.60% | -0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -2.82% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -6.69% | -6.09% | -0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -22.25% | -21.39% | -0.86% |
Current DrawdownCurrent decline from peak | -0.64% | -0.81% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -7.60% | +2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.93% | -0.01% |
Volatility
GIGB vs. VCEB - Volatility Comparison
Goldman Sachs Access Investment Grade Corporate Bond ETF (GIGB) and Vanguard ESG U.S. Corporate Bond ETF (VCEB) have volatilities of 1.43% and 1.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GIGB | VCEB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.43% | 1.43% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 3.21% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.31% | 4.22% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 6.84% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.66% | 6.65% | +1.01% |
GIGB vs. VCEB - Expense Ratio Comparison
GIGB has a 0.14% expense ratio, which is higher than VCEB's 0.12% 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
GIGB vs. VCEB - Dividend Comparison
GIGB's dividend yield for the trailing twelve months is around 4.60%, which matches VCEB's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
GIGB Goldman Sachs Access Investment Grade Corporate Bond ETF | 4.60% | 4.69% | 4.45% | 3.67% | 3.12% | 2.25% | 2.62% | 3.22% | 3.31% | 1.55% |
VCEB Vanguard ESG U.S. Corporate Bond ETF | 4.64% | 4.57% | 4.47% | 3.70% | 2.84% | 1.69% | 0.43% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, GIGB and VCEB 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.
VCEB has higher volatility (1.43%) compared to GIGB (1.43%). In terms of maximum drawdown, GIGB dropped -22.25% vs VCEB's -21.60%.
On 5-year performance, VCEB leads with 0.38% vs 0.31% for GIGB. On fees, VCEB is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VCEB has performed better with a 0.38% return vs 0.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCEB is cheaper with a 0.12% expense ratio, compared with 0.14% for GIGB.
VCEB has the higher dividend yield at 4.64%, compared with 4.60% for GIGB.
GIGB tracks FTSE Goldman Sachs Investment Grade Corporate Bond Index, while VCEB tracks Bloomberg Barclays MSCI US Corp SRI Select Index. They also come from different issuers: Goldman Sachs and Vanguard. Their fees differ too: 0.14% for GIGB and 0.12% for VCEB.
GIGB currently has the higher Sharpe Ratio (1.23 vs 1.11), 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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