IQSZ vs. VCEB

Last updated Jun 6, 2026

IQSZ (Invesco Global Equity Net Zero ETF) and VCEB (Vanguard ESG U.S. Corporate Bond ETF) are both exchange-traded funds - IQSZ is a ESG fund actively managed by Invesco, while VCEB is a Corporate Bonds fund tracking the Bloomberg Barclays MSCI US Corp SRI Select Index. IQSZ is actively managed, while VCEB is passively managed. At a 0.46 correlation, their price movements are largely independent. IQSZ charges 0.19%/yr vs 0.12%/yr for VCEB.

Performance

IQSZ vs. VCEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Global Equity Net Zero ETF (IQSZ) and Vanguard ESG U.S. Corporate Bond ETF (VCEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IQSZ

• 1D: -2.92%
• 1M: -0.13%
• YTD: 11.32%
• 6M: 12.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VCEB

• 1D: -0.49%
• 1M: -0.32%
• YTD: -0.00%
• 6M: -0.04%
• 1Y: 4.61%
• 3Y*: 4.97%
• 5Y*: 0.45%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IQSZ vs. VCEB - Yearly Performance Comparison

	2026 (YTD)	2025
IQSZ Invesco Global Equity Net Zero ETF	11.32%	13.36%
VCEB Vanguard ESG U.S. Corporate Bond ETF	-0.00%	3.98%

Correlation

The correlation between IQSZ and VCEB is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.46

Return for Risk

IQSZ vs. VCEB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VCEB

VCEB Risk / Return Rank: 32
VCEB Sharpe Ratio Rank: 32
VCEB Sortino Ratio Rank: 31
VCEB Omega Ratio Rank: 29
VCEB Calmar Ratio Rank: 35
VCEB Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IQSZ vs. VCEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Global Equity Net Zero ETF (IQSZ) and Vanguard ESG U.S. Corporate Bond ETF (VCEB). 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.

Sharpe Ratios by Period

	IQSZ	VCEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.10	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.14	0.04	+2.10

Drawdowns

IQSZ vs. VCEB - Drawdown Comparison

The maximum IQSZ drawdown since its inception was -9.12%, smaller than the maximum VCEB drawdown of -21.60%. Use the drawdown chart below to compare losses from any high point for IQSZ and VCEB.

Drawdown Indicators

	IQSZ	VCEB	Difference
Max Drawdown Largest peak-to-trough decline	-9.12%	-21.60%	+12.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.82%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.09%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.39%	—
Current Drawdown Current decline from peak	-3.05%	-1.36%	-1.69%
Average Drawdown Average peak-to-trough decline	-1.22%	-7.63%	+6.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.92%	—

Volatility

Volatility by Period

	IQSZ	VCEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	4.21%	+9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.02%	6.84%	+7.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.02%	6.66%	+7.36%

IQSZ vs. VCEB - Expense Ratio Comparison

IQSZ has a 0.19% expense ratio, which is higher than VCEB's 0.12% 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

IQSZ vs. VCEB - Dividend Comparison

IQSZ's dividend yield for the trailing twelve months is around 1.32%, less than VCEB's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
IQSZ Invesco Global Equity Net Zero ETF	1.32%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%
VCEB Vanguard ESG U.S. Corporate Bond ETF	4.67%	4.57%	4.47%	3.70%	2.84%	1.69%	0.43%

Frequently Asked Questions

Can I hold both IQSZ and VCEB in my portfolio?

IQSZ and VCEB have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IQSZ or VCEB?

On fees, VCEB is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IQSZ or VCEB?

VCEB is cheaper with a 0.12% expense ratio, compared with 0.19% for IQSZ.

Which ETF pays a higher dividend yield, IQSZ or VCEB?

VCEB has the higher dividend yield at 4.67%, compared with 1.32% for IQSZ.

What is the main difference between IQSZ and VCEB?

IQSZ is categorized as ESG, while VCEB is Corporate Bonds. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.19% for IQSZ and 0.12% for VCEB.