MGOV vs. VCIT
MGOV (First Trust Intermediate Government Opportunities ETF) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both exchange-traded funds - MGOV is a Government Bonds fund actively managed by First Trust, while VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index. MGOV is actively managed, while VCIT is passively managed. Over the past year, MGOV returned 6.11% vs 6.00% for VCIT. Their correlation of 0.87 suggests significant overlap in exposure. MGOV charges 0.65%/yr vs 0.03%/yr for VCIT.
Performance
MGOV vs. VCIT - Performance Comparison
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Returns By Period
In the year-to-date period, MGOV achieves a 0.44% return, which is significantly higher than VCIT's 0.41% return.
MGOV
- 1D
- -0.30%
- 1M
- 0.95%
- YTD
- 0.44%
- 6M
- 0.90%
- 1Y
- 6.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCIT
- 1D
- -0.07%
- 1M
- 0.96%
- YTD
- 0.41%
- 6M
- 0.89%
- 1Y
- 6.00%
- 3Y*
- 6.37%
- 5Y*
- 1.11%
- 10Y*
- 2.93%
MGOV vs. VCIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 0.44% | 8.54% | 1.55% | 4.56% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.41% | 9.34% | 3.20% | 5.95% |
Correlation
The correlation between MGOV and VCIT is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023 | 0.87 |
The correlation between MGOV and VCIT has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
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Return for Risk
MGOV vs. VCIT — Risk / Return Rank
MGOV
VCIT
MGOV vs. VCIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Government Opportunities ETF (MGOV) 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.
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.
| MGOV | VCIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.88 | -0.26 |
| Martin ratioReturn relative to average drawdown | 4.72 | 6.07 | -1.35 |
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Drawdowns
MGOV vs. VCIT - Drawdown Comparison
The maximum MGOV drawdown since its inception was -6.11%, smaller than the maximum VCIT drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for MGOV and VCIT.
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Drawdown Indicators
| MGOV | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -20.56% | +14.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -2.96% | -0.57% |
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 | -2.13% | -1.13% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -3.16% | +1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.92% | +0.29% |
Volatility
MGOV vs. VCIT - Volatility Comparison
First Trust Intermediate Government Opportunities ETF (MGOV) and Vanguard Intermediate-Term Corporate Bond ETF (VCIT) have volatilities of 1.47% and 1.48%, 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
| MGOV | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.48% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 3.15% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.53% | 4.10% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 6.62% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.93% | 6.28% | -0.35% |
MGOV vs. VCIT - Expense Ratio Comparison
MGOV has a 0.65% expense ratio, which is higher than VCIT's 0.03% expense ratio.
Dividends
MGOV vs. VCIT - Dividend Comparison
MGOV's dividend yield for the trailing twelve months is around 4.96%, more than VCIT's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 4.96% | 4.95% | 5.05% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.79% | 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
MGOV and VCIT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCIT has higher volatility (1.48%) compared to MGOV (1.47%). In terms of maximum drawdown, MGOV dropped -6.11% vs VCIT's -20.56%.
On 1-year performance, MGOV leads with 6.11% vs 6.00% for VCIT. On fees, VCIT 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 1-year period, MGOV has performed better with a 6.11% return vs 6.00%. 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 0.65% for MGOV.
MGOV has the higher dividend yield at 4.96%, compared with 4.79% for VCIT.
MGOV is categorized as Government Bonds, while VCIT is Corporate Bonds. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.65% for MGOV and 0.03% for VCIT.
VCIT currently has the higher Sharpe Ratio (1.36 vs 1.27), 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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