VBCA vs. FLRN

Last updated Jun 4, 2026

VBCA (Vanguard Target Maturity 2027 Corporate Bond ETF) and FLRN (SPDR Bloomberg Barclays Investment Grade Floating Rate ETF) are both Corporate Bonds funds - VBCA tracks the ICE 2027 Maturity US Corporate Constrained Index while FLRN tracks the Bloomberg US Floating Rate Notes (<5 Y). Both are passively managed. At a 0.24 correlation, their price movements are largely independent. VBCA charges 0.08%/yr vs 0.15%/yr for FLRN.

Performance

VBCA vs. FLRN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Maturity 2027 Corporate Bond ETF (VBCA) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VBCA

• 1D: 0.00%
• 1M: 0.33%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLRN

• 1D: 0.03%
• 1M: 0.45%
• YTD: 1.87%
• 6M: 2.19%
• 1Y: 4.88%
• 3Y*: 5.67%
• 5Y*: 4.19%
• 10Y*: 3.03%

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

VBCA vs. FLRN - Yearly Performance Comparison

	2026 (YTD)
VBCA Vanguard Target Maturity 2027 Corporate Bond ETF	1.00%
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF	1.09%

Correlation

The correlation between VBCA and FLRN is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 27, 2026	0.24

Return for Risk

VBCA vs. FLRN — Risk / Return Rank

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

FLRN

FLRN Risk / Return Rank: 99
FLRN Sharpe Ratio Rank: 99
FLRN Sortino Ratio Rank: 99
FLRN Omega Ratio Rank: 99
FLRN Calmar Ratio Rank: 99
FLRN Martin Ratio Rank: 99

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.

VBCA vs. FLRN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Maturity 2027 Corporate Bond ETF (VBCA) and SPDR Bloomberg Barclays Investment Grade Floating Rate ETF (FLRN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VBCA	FLRN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	7.18	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	5.67	0.50	+5.17

Drawdowns

VBCA vs. FLRN - Drawdown Comparison

The maximum VBCA drawdown since its inception was -0.19%, smaller than the maximum FLRN drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for VBCA and FLRN.

Drawdown Indicators

	VBCA	FLRN	Difference
Max Drawdown Largest peak-to-trough decline	-0.19%	-14.64%	+14.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.23%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-2.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.64%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.05%	-1.83%	+1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.04%	—

Volatility

Volatility by Period

	VBCA	FLRN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.52%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.97%	0.68%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.97%	1.69%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.97%	4.20%	-3.23%

VBCA vs. FLRN - Expense Ratio Comparison

VBCA has a 0.08% expense ratio, which is lower than FLRN's 0.15% 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%.

Dividends

VBCA vs. FLRN - Dividend Comparison

VBCA's dividend yield for the trailing twelve months is around 0.42%, less than FLRN's 4.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLRN SPDR Bloomberg Barclays Investment Grade Floating Rate ETF	4.51%	4.89%	5.67%	5.68%	1.95%	0.39%	1.22%	2.76%	2.39%	1.64%	1.06%	0.63%
VBCA Vanguard Target Maturity 2027 Corporate Bond ETF	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VBCA and FLRN in my portfolio?

VBCA and FLRN have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VBCA or FLRN?

On fees, VBCA is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VBCA or FLRN?

VBCA is cheaper with a 0.08% expense ratio, compared with 0.15% for FLRN.

Which ETF pays a higher dividend yield, VBCA or FLRN?

FLRN has the higher dividend yield at 4.51%, compared with 0.42% for VBCA.

What is the main difference between VBCA and FLRN?

VBCA tracks ICE 2027 Maturity US Corporate Constrained Index, while FLRN tracks Bloomberg US Floating Rate Notes (<5 Y). They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.08% for VBCA and 0.15% for FLRN.