LKOR vs. VCLT
LKOR (FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both Corporate Bonds funds - LKOR tracks the Northern Trust US Long Corporate Bond Quality Value Index while VCLT tracks the Bloomberg U.S. 10+ Year Corporate Bond Index. Both are passively managed. Over the past 10 years, LKOR returned 2.48%/yr vs 2.26%/yr for VCLT. Their correlation of 0.87 suggests significant overlap in exposure. LKOR charges 0.22%/yr vs 0.03%/yr for VCLT.
Performance
LKOR vs. VCLT - Performance Comparison
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Returns By Period
In the year-to-date period, LKOR achieves a 1.27% return, which is significantly lower than VCLT's 1.50% return. Over the past 10 years, LKOR has outperformed VCLT with an annualized return of 2.48%, while VCLT has yielded a comparatively lower 2.26% annualized return.
LKOR
- 1D
- 0.16%
- 1M
- 1.48%
- YTD
- 1.27%
- 6M
- 1.09%
- 1Y
- 6.28%
- 3Y*
- 4.51%
- 5Y*
- -2.00%
- 10Y*
- 2.48%
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%
LKOR vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 1.27% | 7.04% | -1.02% | 11.64% | -25.55% | -1.51% | 16.00% | 23.97% | -7.61% | 13.87% |
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 LKOR and VCLT is 0.99 - 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 (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015 | 0.87 |
The correlation between LKOR and VCLT shifts across timeframes, from 0.87 (all time) to 0.99 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LKOR vs. VCLT — Risk / Return Rank
LKOR
VCLT
LKOR vs. VCLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) 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.
| LKOR | VCLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.23 | -0.06 |
| Martin ratioReturn relative to average drawdown | 2.79 | 2.96 | -0.17 |
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Drawdowns
LKOR vs. VCLT - Drawdown Comparison
The maximum LKOR drawdown since its inception was -34.78%, roughly equal to the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for LKOR and VCLT.
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Drawdown Indicators
| LKOR | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.78% | -34.31% | -0.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.39% | -5.25% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -12.74% | -13.03% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -34.78% | -34.31% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | -34.78% | -34.31% | -0.47% |
Current DrawdownCurrent decline from peak | -13.18% | -13.92% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -10.37% | -8.17% | -2.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 2.17% | +0.09% |
Volatility
LKOR vs. VCLT - Volatility Comparison
FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) and Vanguard Long-Term Corporate Bond ETF (VCLT) have volatilities of 1.88% and 1.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LKOR | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.88% | 1.90% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 5.87% | 5.83% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.89% | 7.83% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.89% | 12.76% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.22% | 12.85% | +0.37% |
LKOR vs. VCLT - Expense Ratio Comparison
LKOR has a 0.22% 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
LKOR vs. VCLT - Dividend Comparison
LKOR's dividend yield for the trailing twelve months is around 5.69%, more than VCLT's 5.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund | 5.69% | 5.57% | 5.52% | 4.90% | 4.71% | 4.73% | 6.56% | 3.71% | 4.21% | 3.77% | 5.53% | 1.22% |
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
With a correlation of 0.99, LKOR and VCLT 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.
VCLT has higher volatility (1.90%) compared to LKOR (1.88%). In terms of maximum drawdown, LKOR dropped -34.78% vs VCLT's -34.31%.
On 10-year performance, LKOR leads with 2.48% vs 2.26% for VCLT. On fees, VCLT is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, LKOR has performed better with a 2.48% 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 0.22% for LKOR.
LKOR has the higher dividend yield at 5.69%, compared with 5.52% for VCLT.
LKOR tracks Northern Trust US Long Corporate Bond Quality Value Index, while VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index. They also come from different issuers: Northern Trust and Vanguard. Their fees differ too: 0.22% for LKOR and 0.03% for VCLT.
VCLT currently has the higher Sharpe Ratio (0.82 vs 0.80), 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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