IGBH vs. VCLT
IGBH (iShares Interest Rate Hedged Long-Term Corporate Bond ETF) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both Corporate Bonds funds - IGBH tracks the BlackRock Interest Rate Hedged Long-Term Corporate Bond Index while VCLT tracks the Bloomberg U.S. 10+ Year Corporate Bond Index. Both are passively managed. Over the past 10 years, IGBH returned 5.06%/yr vs 2.26%/yr for VCLT. At a 0.29 correlation, their price movements are largely independent. IGBH charges 0.16%/yr vs 0.03%/yr for VCLT.
Performance
IGBH vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, IGBH achieves a 2.40% return, which is significantly higher than VCLT's 1.50% return. Over the past 10 years, IGBH has outperformed VCLT with an annualized return of 5.06%, while VCLT has yielded a comparatively lower 2.26% annualized return.
IGBH
- 1D
- -0.08%
- 1M
- 0.29%
- YTD
- 2.40%
- 6M
- 2.53%
- 1Y
- 9.02%
- 3Y*
- 8.57%
- 5Y*
- 5.37%
- 10Y*
- 5.06%
VCLT
- 1D
- 0.23%
- 1M
- 1.54%
- YTD
- 1.50%
- 6M
- 1.27%
- 1Y
- 6.41%
- 3Y*
- 4.16%
- 5Y*
- -2.17%
- 10Y*
- 2.26%
IGBH vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 2.40% | 7.90% | 7.80% | 12.12% | -2.82% | 2.20% | 1.09% | 9.62% | -4.54% | 9.36% |
VCLT Vanguard Long-Term Corporate Bond ETF | 1.50% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
Correlation
The correlation between IGBH and VCLT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015 | 0.29 |
Over the past year, IGBH and VCLT have become more correlated (0.49) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
IGBH vs. VCLT — Risk / Return Rank
IGBH
VCLT
IGBH vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) 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.
| IGBH | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.14 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 1.23 | +0.91 |
| Martin ratioReturn relative to average drawdown | 7.85 | 2.96 | +4.89 |
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Drawdowns
IGBH vs. VCLT - Drawdown Comparison
The maximum IGBH drawdown since its inception was -33.67%, roughly equal to the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for IGBH and VCLT.
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Drawdown Indicators
| IGBH | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -34.31% | +0.64% |
Max Drawdown (1Y)Largest decline over 1 year | -4.24% | -5.25% | +1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -6.93% | -13.03% | +6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -10.48% | -34.31% | +23.83% |
Max Drawdown (10Y)Largest decline over 10 years | -33.67% | -34.31% | +0.64% |
Current DrawdownCurrent decline from peak | -0.28% | -13.92% | +13.64% |
Average DrawdownAverage peak-to-trough decline | -2.65% | -8.17% | +5.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 2.17% | -1.02% |
Volatility
IGBH vs. VCLT - Volatility Comparison
The current volatility for iShares Interest Rate Hedged Long-Term Corporate Bond ETF (IGBH) is 0.69%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 1.90%. This indicates that IGBH 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
| IGBH | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.69% | 1.90% | -1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 5.83% | -2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 7.83% | -3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.05% | 12.76% | -6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 12.85% | -3.65% |
IGBH vs. VCLT - Expense Ratio Comparison
IGBH has a 0.16% 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
IGBH vs. VCLT - Dividend Comparison
IGBH's dividend yield for the trailing twelve months is around 5.66%, more than VCLT's 5.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGBH iShares Interest Rate Hedged Long-Term Corporate Bond ETF | 5.66% | 6.23% | 6.88% | 7.32% | 3.84% | 2.71% | 2.39% | 3.40% | 5.56% | 2.87% | 2.62% | 1.12% |
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
IGBH and VCLT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCLT has higher volatility (1.90%) compared to IGBH (0.69%). In terms of maximum drawdown, IGBH dropped -33.67% vs VCLT's -34.31%.
On 10-year performance, IGBH leads with 5.06% vs 2.26% for VCLT. On fees, VCLT is cheaper at 0.03% per year. On volatility, IGBH has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGBH has performed better with a 5.06% return vs 2.26%. 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 0.16% for IGBH.
IGBH has the higher dividend yield at 5.66%, compared with 5.52% for VCLT.
IGBH tracks BlackRock Interest Rate Hedged Long-Term Corporate Bond Index, while VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.16% for IGBH and 0.03% for VCLT.
IGBH currently has the higher Sharpe Ratio (2.25 vs 0.82), 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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