INVG vs. VCIT
INVG (GMO Systematic Investment Grade Credit ETF) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both Corporate Bonds funds. INVG is actively managed, while VCIT is passively managed. Over the past year, INVG returned 5.61% vs 5.69% for VCIT. With a 0.96 correlation, they move nearly in lockstep. INVG charges 0.25%/yr vs 0.03%/yr for VCIT.
Performance
INVG vs. VCIT - Performance Comparison
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Returns By Period
In the year-to-date period, INVG achieves a 0.87% return, which is significantly higher than VCIT's 0.31% return.
INVG
- 1D
- 0.19%
- 1M
- 0.65%
- YTD
- 0.87%
- 6M
- 0.74%
- 1Y
- 5.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCIT
- 1D
- 0.13%
- 1M
- 0.24%
- YTD
- 0.31%
- 6M
- 0.39%
- 1Y
- 5.69%
- 3Y*
- 6.09%
- 5Y*
- 1.24%
- 10Y*
- 2.97%
INVG vs. VCIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INVG GMO Systematic Investment Grade Credit ETF | 0.87% | 4.69% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.31% | 5.36% |
Correlation
The correlation between INVG and VCIT is 0.96 - 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 (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.96 |
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Return for Risk
INVG vs. VCIT — Risk / Return Rank
INVG
VCIT
INVG vs. VCIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| INVG | VCIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.40 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.28 | 0.76 | +0.52 |
Drawdowns
INVG vs. VCIT - Drawdown Comparison
The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum VCIT drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for INVG and VCIT.
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Drawdown Indicators
| INVG | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.15% | -20.56% | +17.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.15% | -2.96% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.11% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.56% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.56% | — |
Current DrawdownCurrent decline from peak | -0.69% | -1.22% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -3.16% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.89% | — |
Volatility
INVG vs. VCIT - Volatility Comparison
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Volatility by Period
| INVG | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.38% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.42% | 4.10% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 6.61% | -2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 6.28% | -1.86% |
INVG vs. VCIT - Expense Ratio Comparison
INVG has a 0.25% expense ratio, which is higher than VCIT'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
INVG vs. VCIT - Dividend Comparison
INVG's dividend yield for the trailing twelve months is around 4.67%, less than VCIT's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVG GMO Systematic Investment Grade Credit ETF | 4.67% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.80% | 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
With a correlation of 0.96, INVG and VCIT 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.
On 1-year performance, VCIT leads with 5.69% vs 5.61% for INVG. On fees, VCIT is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VCIT has performed better with a 5.69% return vs 5.61%. 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 0.25% for INVG.
VCIT has the higher dividend yield at 4.80%, compared with 4.67% for INVG.
They also come from different issuers: GMO and Vanguard. Their fees differ too: 0.25% for INVG and 0.03% for VCIT.
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