SPAB vs. VCLT
Compare and contrast key facts about SPDR Portfolio Aggregate Bond ETF (SPAB) and Vanguard Long-Term Corporate Bond ETF (VCLT).
SPAB and VCLT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPAB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate. It was launched on May 23, 2007. 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 SPAB 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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAB or VCLT.
Key characteristics
| SPAB | VCLT | |
|---|---|---|
| YTD Return | 2.34% | 1.90% |
| 1Y Return | 8.97% | 15.98% |
| 3Y Return (Ann) | -2.34% | -6.27% |
| 5Y Return (Ann) | 0.01% | -0.58% |
| 10Y Return (Ann) | 1.49% | 2.76% |
| Sharpe Ratio | 1.39 | 1.28 |
| Sortino Ratio | 2.03 | 1.86 |
| Omega Ratio | 1.24 | 1.22 |
| Calmar Ratio | 0.52 | 0.49 |
| Martin Ratio | 4.94 | 4.02 |
| Ulcer Index | 1.65% | 3.54% |
| Daily Std Dev | 5.83% | 11.13% |
| Max Drawdown | -18.56% | -34.31% |
| Current Drawdown | -8.16% | -17.81% |
Correlation
The correlation between SPAB and VCLT is 0.80, 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.
Performance
SPAB vs. VCLT - Performance Comparison
In the year-to-date period, SPAB achieves a 2.34% return, which is significantly higher than VCLT's 1.90% return. Over the past 10 years, SPAB has underperformed VCLT with an annualized return of 1.49%, while VCLT has yielded a comparatively higher 2.76% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPAB vs. VCLT - Expense Ratio Comparison
SPAB has a 0.03% expense ratio, which is lower than VCLT's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
SPAB vs. VCLT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) 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.
Dividends
SPAB vs. VCLT - Dividend Comparison
SPAB's dividend yield for the trailing twelve months is around 3.77%, less than VCLT's 4.90% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPAB SPDR Portfolio Aggregate Bond ETF | 3.77% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.61% | 2.43% | 1.99% |
VCLT Vanguard Long-Term Corporate Bond ETF | 4.90% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% | 4.29% | 4.83% |
Drawdowns
SPAB vs. VCLT - Drawdown Comparison
The maximum SPAB drawdown since its inception was -18.56%, smaller than the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for SPAB and VCLT. For additional features, visit the drawdowns tool.
Volatility
SPAB vs. VCLT - Volatility Comparison
The current volatility for SPDR Portfolio Aggregate Bond ETF (SPAB) is 1.70%, while Vanguard Long-Term Corporate Bond ETF (VCLT) has a volatility of 3.83%. This indicates that SPAB experiences smaller price fluctuations and is considered to be less risky than VCLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.