INVG vs. VTC
INVG (GMO Systematic Investment Grade Credit ETF) and VTC (Vanguard Total Corporate Bond ETF) are both Corporate Bonds funds. INVG is actively managed, while VTC is passively managed. With a 0.98 correlation, they move nearly in lockstep. INVG charges 0.25%/yr vs 0.04%/yr for VTC.
Performance
INVG vs. VTC - Performance Comparison
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Returns By Period
In the year-to-date period, INVG achieves a 0.68% return, which is significantly higher than VTC's 0.60% return.
INVG
- 1D
- -0.23%
- 1M
- 0.73%
- YTD
- 0.68%
- 6M
- 0.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTC
- 1D
- -0.22%
- 1M
- 0.63%
- YTD
- 0.60%
- 6M
- 0.33%
- 1Y
- 5.99%
- 3Y*
- 5.22%
- 5Y*
- 0.51%
- 10Y*
- —
INVG vs. VTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INVG GMO Systematic Investment Grade Credit ETF | 0.68% | 4.69% |
VTC Vanguard Total Corporate Bond ETF | 0.60% | 4.74% |
Correlation
The correlation between INVG and VTC is 0.98 - 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 | 0.98 |
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Return for Risk
INVG vs. VTC — Risk / Return Rank
INVG
VTC
INVG vs. VTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Systematic Investment Grade Credit ETF (INVG) and Vanguard Total Corporate Bond ETF (VTC). 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 | VTC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 1.38 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.23 | 0.32 | +0.92 |
Drawdowns
INVG vs. VTC - Drawdown Comparison
The maximum INVG drawdown since its inception was -3.15%, smaller than the maximum VTC drawdown of -22.05%. Use the drawdown chart below to compare losses from any high point for INVG and VTC.
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Drawdown Indicators
| INVG | VTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.15% | -22.05% | +18.90% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.88% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -6.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.05% | — |
Current DrawdownCurrent decline from peak | -0.88% | -0.99% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -5.84% | +5.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.90% | — |
Volatility
INVG vs. VTC - Volatility Comparison
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Volatility by Period
| INVG | VTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.43% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.22% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.42% | 4.37% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 7.08% | -2.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 7.68% | -3.26% |
INVG vs. VTC - Expense Ratio Comparison
INVG has a 0.25% expense ratio, which is higher than VTC's 0.04% 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. VTC - Dividend Comparison
INVG's dividend yield for the trailing twelve months is around 4.68%, less than VTC's 4.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
INVG GMO Systematic Investment Grade Credit ETF | 4.68% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTC Vanguard Total Corporate Bond ETF | 4.93% | 4.76% | 4.50% | 3.80% | 3.13% | 2.36% | 2.69% | 3.34% | 3.53% | 0.55% |
Frequently Asked Questions
With a correlation of 0.98, INVG and VTC 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 fees, VTC is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VTC is cheaper with a 0.04% expense ratio, compared with 0.25% for INVG.
VTC has the higher dividend yield at 4.93%, compared with 4.68% for INVG.
They also come from different issuers: GMO and Vanguard. Their fees differ too: 0.25% for INVG and 0.04% for VTC.
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