IBND vs. VCIT
IBND (SPDR Bloomberg Barclays International Corporate Bond ETF) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both Corporate Bonds funds - IBND tracks the Bloomberg Global Aggregate x USD >$1B: Corporate Bond while VCIT tracks the Bloomberg U.S. 5-10 Year Corporate Bond Index. Both are passively managed. Over the past 10 years, IBND returned 0.56%/yr vs 2.72%/yr for VCIT. At a 0.37 correlation, their price movements are largely independent. IBND charges 0.50%/yr vs 0.03%/yr for VCIT.
Performance
IBND vs. VCIT - Performance Comparison
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Returns By Period
In the year-to-date period, IBND achieves a -2.74% return, which is significantly lower than VCIT's -0.41% return. Over the past 10 years, IBND has underperformed VCIT with an annualized return of 0.56%, while VCIT has yielded a comparatively higher 2.72% annualized return.
IBND
- 1D
- -0.68%
- 1M
- -1.81%
- 6M
- -2.62%
- YTD
- -2.74%
- 1Y
- -1.37%
- 3Y*
- 4.39%
- 5Y*
- -1.48%
- 10Y*
- 0.56%
VCIT
- 1D
- -0.44%
- 1M
- -0.81%
- 6M
- -0.50%
- YTD
- -0.41%
- 1Y
- 4.14%
- 3Y*
- 5.73%
- 5Y*
- 0.83%
- 10Y*
- 2.72%
IBND vs. VCIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | -2.74% | 16.17% | -2.81% | 10.38% | -19.44% | -8.40% | 11.50% | 4.41% | -6.15% | 14.84% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.41% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
Correlation
The correlation between IBND and VCIT is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 20, 2010 | 0.37 |
Over the past year, IBND and VCIT have become more correlated (0.63) than their long-term average of 0.37, meaning their price movements have been converging.
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Return for Risk
IBND vs. VCIT — Risk / Return Rank
IBND
VCIT
IBND vs. VCIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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.
| IBND | VCIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.18 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 1.41 | -1.61 |
| Martin ratioReturn relative to average drawdown | -0.48 | 4.33 | -4.81 |
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Drawdowns
IBND vs. VCIT - Drawdown Comparison
The maximum IBND drawdown since its inception was -35.62%, which is greater than VCIT's maximum drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for IBND and VCIT.
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Drawdown Indicators
| IBND | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -20.56% | -15.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | -2.96% | -3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | -6.11% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -33.49% | -20.56% | -12.93% |
Max Drawdown (10Y)Largest decline over 10 years | -35.62% | -20.56% | -15.06% |
Current DrawdownCurrent decline from peak | -10.97% | -1.93% | -9.04% |
Average DrawdownAverage peak-to-trough decline | -10.63% | -3.15% | -7.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.96% | +1.88% |
Volatility
IBND vs. VCIT - Volatility Comparison
SPDR Bloomberg Barclays International Corporate Bond ETF (IBND) has a higher volatility of 2.12% compared to Vanguard Intermediate-Term Corporate Bond ETF (VCIT) at 1.35%. This indicates that IBND's price experiences larger fluctuations and is considered to be riskier than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBND | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 1.35% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 3.26% | +3.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.01% | 4.10% | +3.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 6.63% | +3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.92% | 6.29% | +2.63% |
IBND vs. VCIT - Expense Ratio Comparison
IBND has a 0.50% expense ratio, which is higher than VCIT's 0.03% expense ratio.
Dividends
IBND vs. VCIT - Dividend Comparison
IBND's dividend yield for the trailing twelve months is around 2.81%, less than VCIT's 4.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBND SPDR Bloomberg Barclays International Corporate Bond ETF | 2.81% | 2.49% | 2.61% | 2.08% | 0.54% | 0.38% | 0.45% | 0.67% | 0.71% | 0.34% | 0.01% | 0.01% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.86% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Frequently Asked Questions
IBND and VCIT have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBND has higher volatility (2.12%) compared to VCIT (1.35%). In terms of maximum drawdown, IBND dropped -35.62% vs VCIT's -20.56%.
On 10-year performance, VCIT leads with 2.72% vs 0.56% for IBND. On fees, VCIT is cheaper at 0.03% per year. On volatility, VCIT has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VCIT has performed better with a 2.72% return vs 0.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCIT is cheaper with a 0.03% expense ratio, compared with 0.50% for IBND.
VCIT has the higher dividend yield at 4.86%, compared with 2.81% for IBND.
IBND tracks Bloomberg Global Aggregate x USD >$1B: Corporate Bond, while VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.50% for IBND and 0.03% for VCIT.
VCIT currently has the higher Sharpe Ratio (1.02 vs -0.17), 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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