SPLB vs. VCIT
SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both Corporate Bonds funds - SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index while VCIT tracks the Barclays U.S. 5-10 Year Corp Index. Both are passively managed. Over the past 10 years, SPLB returned 2.23%/yr vs 2.93%/yr for VCIT. Their correlation of 0.81 suggests significant overlap in exposure. SPLB charges 0.07%/yr vs 0.04%/yr for VCIT.
Performance
SPLB vs. VCIT - Performance Comparison
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Returns By Period
In the year-to-date period, SPLB achieves a 0.92% return, which is significantly higher than VCIT's 0.18% return. Over the past 10 years, SPLB has underperformed VCIT with an annualized return of 2.23%, while VCIT has yielded a comparatively higher 2.93% annualized return.
SPLB
- 1D
- -0.36%
- 1M
- 1.50%
- YTD
- 0.92%
- 6M
- -0.06%
- 1Y
- 7.56%
- 3Y*
- 4.35%
- 5Y*
- -1.84%
- 10Y*
- 2.23%
VCIT
- 1D
- -0.22%
- 1M
- 0.28%
- YTD
- 0.18%
- 6M
- 0.07%
- 1Y
- 6.13%
- 3Y*
- 6.00%
- 5Y*
- 1.22%
- 10Y*
- 2.93%
SPLB vs. VCIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 0.92% | 7.05% | -1.74% | 11.20% | -25.68% | -1.99% | 13.47% | 23.49% | -7.35% | 12.26% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.18% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
Correlation
The correlation between SPLB and VCIT is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.81 |
The correlation between SPLB and VCIT shifts across timeframes, from 0.81 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPLB vs. VCIT — Risk / Return Rank
SPLB
VCIT
SPLB vs. VCIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Long Term Corporate Bond ETF (SPLB) 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.
| SPLB | VCIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.08 | -0.68 |
| Martin ratioReturn relative to average drawdown | 3.48 | 6.95 | -3.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPLB | VCIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.50 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | 0.19 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.47 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.75 | -0.31 |
Drawdowns
SPLB vs. VCIT - Drawdown Comparison
The maximum SPLB drawdown since its inception was -34.46%, which is greater than VCIT's maximum drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for SPLB and VCIT.
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Drawdown Indicators
| SPLB | VCIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.46% | -20.56% | -13.90% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -2.96% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.91% | -6.11% | -6.80% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | -20.56% | -13.90% |
Max Drawdown (10Y)Largest decline over 10 years | -34.46% | -20.56% | -13.90% |
Current DrawdownCurrent decline from peak | -14.53% | -1.36% | -13.17% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -3.16% | -4.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 0.88% | +1.30% |
Volatility
SPLB vs. VCIT - Volatility Comparison
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) has a higher volatility of 2.36% compared to Vanguard Intermediate-Term Corporate Bond ETF (VCIT) at 1.38%. This indicates that SPLB's price experiences larger fluctuations and is considered to be riskier than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPLB | VCIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.36% | 1.38% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 5.81% | 3.06% | +2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.05% | 4.10% | +3.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.71% | 6.61% | +6.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.95% | 6.28% | +6.67% |
SPLB vs. VCIT - Expense Ratio Comparison
SPLB has a 0.07% expense ratio, which is higher than VCIT'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%.
Dividends
SPLB vs. VCIT - Dividend Comparison
SPLB's dividend yield for the trailing twelve months is around 5.38%, more than VCIT's 4.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.38% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.80% | 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
With a correlation of 0.93, SPLB and VCIT 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.
SPLB has higher volatility (2.36%) compared to VCIT (1.38%). In terms of maximum drawdown, SPLB dropped -34.46% vs VCIT's -20.56%.
On 10-year performance, VCIT leads with 2.93% vs 2.23% for SPLB. On fees, VCIT is cheaper at 0.04% per year. On volatility, VCIT has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VCIT has performed better with a 2.93% return vs 2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCIT is cheaper with a 0.04% expense ratio, compared with 0.07% for SPLB.
SPLB has the higher dividend yield at 5.38%, compared with 4.80% for VCIT.
SPLB tracks Bloomberg Barclays Long U.S. Corporate Index, while VCIT tracks Barclays U.S. 5-10 Year Corp Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.07% for SPLB and 0.04% for VCIT.
VCIT currently has the higher Sharpe Ratio (1.50 vs 0.94), 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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