HYIN vs. VCLT
HYIN (WisdomTree Alternative Income Fund) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both exchange-traded funds - HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index, while VCLT is a Corporate Bonds fund tracking the Bloomberg U.S. 10+ Year Corporate Bond Index. Both are passively managed. Over the past 5 years, HYIN returned 0.12%/yr vs -2.90%/yr for VCLT. At a 0.36 correlation, their price movements are largely independent. HYIN charges 3.20%/yr vs 0.03%/yr for VCLT.
Performance
HYIN vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, HYIN achieves a -3.95% return, which is significantly lower than VCLT's -0.46% return.
HYIN
- 1D
- 0.39%
- 1M
- 1.92%
- 6M
- -6.19%
- YTD
- -3.95%
- 1Y
- -6.85%
- 3Y*
- 3.13%
- 5Y*
- 0.12%
- 10Y*
- —
VCLT
- 1D
- 0.44%
- 1M
- -1.78%
- 6M
- -1.77%
- YTD
- -0.46%
- 1Y
- 4.97%
- 3Y*
- 3.54%
- 5Y*
- -2.90%
- 10Y*
- 1.75%
HYIN vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | -3.95% | -0.46% | 7.39% | 21.84% | -21.14% | 2.73% |
VCLT Vanguard Long-Term Corporate Bond ETF | -0.46% | 7.18% | -1.90% | 11.17% | -25.50% | 4.86% |
Correlation
The correlation between HYIN and VCLT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 6, 2021 | 0.36 |
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Return for Risk
HYIN vs. VCLT — Risk / Return Rank
HYIN
VCLT
HYIN vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.
| HYIN | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.11 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 0.95 | -1.39 |
| Martin ratioReturn relative to average drawdown | -0.84 | 2.25 | -3.09 |
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Drawdowns
HYIN vs. VCLT - Drawdown Comparison
The maximum HYIN drawdown since its inception was -31.10%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for HYIN and VCLT.
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Drawdown Indicators
| HYIN | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.10% | -34.31% | +3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -15.52% | -5.25% | -10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -15.85% | -13.03% | -2.82% |
Max Drawdown (5Y)Largest decline over 5 years | -31.10% | -34.31% | +3.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.31% | — |
Current DrawdownCurrent decline from peak | -9.86% | -15.58% | +5.72% |
Average DrawdownAverage peak-to-trough decline | -9.07% | -8.20% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.18% | 2.21% | +5.97% |
Volatility
HYIN vs. VCLT - Volatility Comparison
WisdomTree Alternative Income Fund (HYIN) has a higher volatility of 3.19% compared to Vanguard Long-Term Corporate Bond ETF (VCLT) at 2.07%. This indicates that HYIN's price experiences larger fluctuations and is considered to be riskier 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
| HYIN | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 2.07% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 6.02% | +4.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.96% | 7.78% | +5.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.76% | 12.76% | +4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.70% | 12.83% | +3.87% |
HYIN vs. VCLT - Expense Ratio Comparison
HYIN has a 3.20% expense ratio, which is higher than VCLT's 0.03% expense ratio.
Dividends
HYIN vs. VCLT - Dividend Comparison
HYIN's dividend yield for the trailing twelve months is around 13.15%, more than VCLT's 5.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 13.15% | 12.58% | 12.59% | 11.71% | 11.34% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.66% | 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
HYIN and VCLT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYIN has higher volatility (3.19%) compared to VCLT (2.07%). In terms of maximum drawdown, HYIN dropped -31.10% vs VCLT's -34.31%.
On 5-year performance, HYIN leads with 0.12% vs -2.90% for VCLT. On fees, VCLT is cheaper at 0.03% per year. On volatility, VCLT has been the lower-risk option at 2.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYIN has performed better with a 0.12% return vs -2.90%. 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 3.20% for HYIN.
HYIN has the higher dividend yield at 13.15%, compared with 5.66% for VCLT.
HYIN is categorized as Diversified Portfolio, while VCLT is Corporate Bonds. HYIN tracks Gapstow Liquid Alternative Credit Index, while VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index. They also come from different issuers: WisdomTree and Vanguard. Their fees differ too: 3.20% for HYIN and 0.03% for VCLT.
VCLT currently has the higher Sharpe Ratio (0.64 vs -0.53), 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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