SPLB vs. VCLT
SPLB (SPDR Portfolio Long Term Corporate Bond ETF) and VCLT (Vanguard Long-Term Corporate Bond ETF) are both Corporate Bonds funds - SPLB tracks the Bloomberg Barclays Long U.S. Corporate Index while VCLT tracks the Bloomberg U.S. 10+ Year Corporate Bond Index. Both are passively managed. Over the past 10 years, SPLB returned 2.19%/yr vs 2.24%/yr for VCLT. Their correlation of 0.90 suggests significant overlap in exposure. SPLB charges 0.07%/yr vs 0.03%/yr for VCLT.
Performance
SPLB vs. VCLT - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SPLB having a 1.28% return and VCLT slightly lower at 1.27%. Both investments have delivered pretty close results over the past 10 years, with SPLB having a 2.19% annualized return and VCLT not far ahead at 2.24%.
SPLB
- 1D
- -0.40%
- 1M
- 1.36%
- YTD
- 1.28%
- 6M
- 1.33%
- 1Y
- 6.30%
- 3Y*
- 4.12%
- 5Y*
- -2.19%
- 10Y*
- 2.19%
VCLT
- 1D
- -0.40%
- 1M
- 1.31%
- YTD
- 1.27%
- 6M
- 1.30%
- 1Y
- 6.37%
- 3Y*
- 4.08%
- 5Y*
- -2.16%
- 10Y*
- 2.24%
SPLB vs. VCLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 1.28% | 7.05% | -1.74% | 11.20% | -25.68% | -1.99% | 13.47% | 23.49% | -7.35% | 12.26% |
VCLT Vanguard Long-Term Corporate Bond ETF | 1.27% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
Correlation
The correlation between SPLB 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.90 |
The correlation between SPLB and VCLT shifts across timeframes, from 0.90 (all time) to 1.00 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPLB vs. VCLT — Risk / Return Rank
SPLB
VCLT
SPLB vs. VCLT - 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 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.
| SPLB | 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 | 1.22 | -0.05 |
| Martin ratioReturn relative to average drawdown | 2.84 | 2.95 | -0.11 |
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Drawdowns
SPLB vs. VCLT - Drawdown Comparison
The maximum SPLB drawdown since its inception was -34.46%, roughly equal to the maximum VCLT drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for SPLB and VCLT.
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Drawdown Indicators
| SPLB | VCLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.46% | -34.31% | -0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -5.25% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -12.91% | -13.03% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | -34.31% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -34.46% | -34.31% | -0.15% |
Current DrawdownCurrent decline from peak | -14.23% | -14.12% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -8.02% | -8.17% | +0.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.17% | +0.05% |
Volatility
SPLB vs. VCLT - Volatility Comparison
SPDR Portfolio Long Term Corporate Bond ETF (SPLB) and Vanguard Long-Term Corporate Bond ETF (VCLT) have volatilities of 1.94% and 1.91%, 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
| SPLB | VCLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.94% | 1.91% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 5.92% | 5.84% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.96% | 7.84% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 12.76% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.96% | 12.85% | +0.11% |
SPLB vs. VCLT - Expense Ratio Comparison
SPLB has a 0.07% 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
SPLB vs. VCLT - Dividend Comparison
SPLB's dividend yield for the trailing twelve months is around 5.36%, less than VCLT's 5.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPLB SPDR Portfolio Long Term Corporate Bond ETF | 5.36% | 5.25% | 5.20% | 4.60% | 4.53% | 3.00% | 3.01% | 3.79% | 4.50% | 4.06% | 4.34% | 4.70% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.53% | 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, SPLB 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.
SPLB has higher volatility (1.94%) compared to VCLT (1.91%). In terms of maximum drawdown, SPLB dropped -34.46% vs VCLT's -34.31%.
On 10-year performance, VCLT leads with 2.24% vs 2.19% for SPLB. 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, VCLT has performed better with a 2.24% return vs 2.19%. 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 0.07% for SPLB.
VCLT has the higher dividend yield at 5.53%, compared with 5.36% for SPLB.
SPLB tracks Bloomberg Barclays Long U.S. Corporate Index, while VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.07% for SPLB 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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