IGHG vs. VCLT
IGHG (ProShares Investment Grade-Interest Rate Hedged) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both Corporate Bonds funds - IGHG tracks the Citi Corporate Investment Grade (Treasury Rate-Hedged) Index while VCLT tracks the Barclays U.S. 10+ Year Corporate Index. Both are passively managed. Over the past 10 years, IGHG returned 4.72%/yr vs 2.31%/yr for VCLT. At a 0.05 correlation, their price movements are largely independent. IGHG charges 0.30%/yr vs 0.04%/yr for VCLT.
Performance
IGHG vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, IGHG achieves a 2.17% return, which is significantly higher than VCLT's 0.99% return. Over the past 10 years, IGHG has outperformed VCLT with an annualized return of 4.72%, while VCLT has yielded a comparatively lower 2.31% annualized return.
IGHG
- 1D
- 0.05%
- 1M
- 0.76%
- YTD
- 2.17%
- 6M
- 2.54%
- 1Y
- 5.77%
- 3Y*
- 8.57%
- 5Y*
- 5.24%
- 10Y*
- 4.72%
VCLT
- 1D
- -0.35%
- 1M
- 1.49%
- YTD
- 0.99%
- 6M
- -0.04%
- 1Y
- 7.69%
- 3Y*
- 4.34%
- 5Y*
- -1.78%
- 10Y*
- 2.31%
IGHG vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 2.17% | 5.65% | 9.20% | 11.58% | -0.90% | 0.88% | 0.61% | 12.73% | -3.96% | 4.49% |
VCLT Vanguard Long-Term Corporate Bond ETF | 0.99% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
Correlation
The correlation between IGHG and VCLT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013 | 0.05 |
The correlation between IGHG and VCLT shifts across timeframes, from 0.05 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGHG vs. VCLT — Risk / Return Rank
IGHG
VCLT
IGHG vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Investment Grade-Interest Rate Hedged (IGHG) 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.
| IGHG | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.17 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 1.47 | +1.84 |
| Martin ratioReturn relative to average drawdown | 11.71 | 3.62 | +8.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IGHG | VCLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | 0.97 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.05 | -0.14 | +1.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.18 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.39 | +0.14 |
Drawdowns
IGHG vs. VCLT - Drawdown Comparison
The maximum IGHG drawdown since its inception was -25.16%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for IGHG and VCLT.
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Drawdown Indicators
| IGHG | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -34.31% | +9.15% |
Max Drawdown (1Y)Largest decline over 1 year | -1.75% | -5.25% | +3.50% |
Max Drawdown (3Y)Largest decline over 3 years | -3.74% | -13.03% | +9.29% |
Max Drawdown (5Y)Largest decline over 5 years | -8.75% | -34.31% | +25.56% |
Max Drawdown (10Y)Largest decline over 10 years | -25.16% | -34.31% | +9.15% |
Current DrawdownCurrent decline from peak | -0.11% | -14.36% | +14.25% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -8.16% | +5.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 2.13% | -1.63% |
Volatility
IGHG vs. VCLT - Volatility Comparison
The current volatility for ProShares Investment Grade-Interest Rate Hedged (IGHG) is 0.62%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 2.31%. This indicates that IGHG 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
| IGHG | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.62% | 2.31% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 5.75% | -3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 7.92% | -4.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 12.78% | -7.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.46% | 12.84% | -5.38% |
IGHG vs. VCLT - Expense Ratio Comparison
IGHG has a 0.30% expense ratio, which is higher than VCLT's 0.04% expense ratio.
Dividends
IGHG vs. VCLT - Dividend Comparison
IGHG's dividend yield for the trailing twelve months is around 5.11%, less than VCLT's 5.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGHG ProShares Investment Grade-Interest Rate Hedged | 5.11% | 5.14% | 5.06% | 4.99% | 3.55% | 2.50% | 2.79% | 3.48% | 4.13% | 3.36% | 3.37% | 3.65% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.55% | 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
IGHG and VCLT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCLT has higher volatility (2.31%) compared to IGHG (0.62%). In terms of maximum drawdown, IGHG dropped -25.16% vs VCLT's -34.31%.
On 10-year performance, IGHG leads with 4.72% vs 2.31% for VCLT. On fees, VCLT is cheaper at 0.04% per year. On volatility, IGHG has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGHG has performed better with a 4.72% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT is cheaper with a 0.04% expense ratio, compared with 0.30% for IGHG.
VCLT has the higher dividend yield at 5.55%, compared with 5.11% for IGHG.
IGHG tracks Citi Corporate Investment Grade (Treasury Rate-Hedged) Index, while VCLT tracks Barclays U.S. 10+ Year Corporate Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.30% for IGHG and 0.04% for VCLT.
IGHG currently has the higher Sharpe Ratio (1.68 vs 0.97), 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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