LKOR vs. VCLT

Last updated Apr 1, 2026

Compare and contrast key facts about FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) and Vanguard Long-Term Corporate Bond ETF (VCLT).

LKOR and VCLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LKOR is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust US Long Corporate Bond Quality Value Index. It was launched on Sep 24, 2015. VCLT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 10+ Year Corporate Index. It was launched on Nov 19, 2009. Both LKOR and VCLT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

LKOR vs. VCLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund (LKOR) and Vanguard Long-Term Corporate Bond ETF (VCLT). The values are adjusted to include any dividend payments, if applicable.

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	-0.80%	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	-0.63%	7.18%	-1.90%	11.17%	-25.50%	-1.73%	13.27%	23.89%	-7.04%	11.70%

Returns By Period

In the year-to-date period, LKOR achieves a -0.80% return, which is significantly lower than VCLT's -0.63% return. Over the past 10 years, LKOR has outperformed VCLT with an annualized return of 2.68%, while VCLT has yielded a comparatively lower 2.46% annualized return.

LKOR

• 1D: 0.89%
• 1M: -2.86%
• YTD: -0.80%
• 6M: -1.40%
• 1Y: 3.88%
• 3Y*: 3.42%
• 5Y*: -1.50%
• 10Y*: 2.68%

VCLT

• 1D: 0.78%
• 1M: -2.90%
• YTD: -0.63%
• 6M: -1.22%
• 1Y: 4.03%
• 3Y*: 3.07%
• 5Y*: -1.73%
• 10Y*: 2.46%

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

LKOR vs. VCLT - Expense Ratio Comparison

LKOR has a 0.22% expense ratio, which is higher than VCLT'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%.

LKOR

FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund

VCLT

Vanguard Long-Term Corporate Bond ETF

Return for Risk

LKOR vs. VCLT — Risk / Return Rank

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

LKOR

LKOR Risk / Return Rank: 24
LKOR Sharpe Ratio Rank: 23
LKOR Sortino Ratio Rank: 21
LKOR Omega Ratio Rank: 21
LKOR Calmar Ratio Rank: 32
LKOR Martin Ratio Rank: 25

VCLT

VCLT Risk / Return Rank: 27
VCLT Sharpe Ratio Rank: 25
VCLT Sortino Ratio Rank: 23
VCLT Omega Ratio Rank: 23
VCLT Calmar Ratio Rank: 36
VCLT Martin Ratio Rank: 26

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.

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.

	LKOR	VCLT	Difference
Sharpe ratio Return per unit of total volatility	0.38	0.40	-0.02
Sortino ratio Return per unit of downside risk	0.57	0.59	-0.02
Omega ratio Gain probability vs. loss probability	1.08	1.08	0.00
Calmar ratio Return relative to maximum drawdown	0.77	0.82	-0.06
Martin ratio Return relative to average drawdown	1.81	1.92	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LKOR vs. VCLT - Sharpe Ratio Comparison

The current LKOR Sharpe Ratio is 0.38, which is comparable to the VCLT Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of LKOR and VCLT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LKOR	VCLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.38	0.40	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	-0.14	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.19	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.39	-0.15

Correlation

The correlation between LKOR and VCLT is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

LKOR vs. VCLT - Dividend Comparison

LKOR's dividend yield for the trailing twelve months is around 5.72%, more than VCLT's 5.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LKOR FlexShares Credit-Scored U.S. Long Corporate Bond Index Fund	5.23%	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	5.14%	5.51%	5.19%	4.67%	4.44%	3.07%	3.16%	3.81%	4.55%	4.01%	4.33%	4.68%

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.

Drawdown Indicators

	LKOR	VCLT	Difference
Max Drawdown Largest peak-to-trough decline	-34.78%	-34.31%	-0.47%
Max Drawdown (1Y) Largest decline over 1 year	-5.63%	-5.39%	-0.24%
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 Drawdown Current decline from peak	-14.96%	-15.73%	+0.77%
Average Drawdown Average peak-to-trough decline	-10.30%	-8.08%	-2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	2.32%	+0.07%

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 3.92% and 3.98%, 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.

Volatility by Period

	LKOR	VCLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	3.98%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	5.56%	5.62%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.30%	10.22%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.91%	12.81%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.22%	12.84%	+0.38%