VBCJ vs. SPBO
VBCJ (Vanguard Target Maturity 2036 Corporate Bond ETF) and SPBO (SPDR Portfolio Corporate Bond ETF) are both Corporate Bonds funds - VBCJ tracks the ICE 2036 Maturity US Corporate Constrained Index while SPBO tracks the Bloomberg U.S. Corporate Bond Index. Both are passively managed. Their 0.97 correlation means they have historically moved very closely together. VBCJ charges 0.08%/yr vs 0.03%/yr for SPBO.
Performance
VBCJ vs. SPBO - Performance Comparison
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Returns By Period
VBCJ
- 1D
- -0.23%
- 1M
- -2.01%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPBO
- 1D
- -0.21%
- 1M
- -1.66%
- 6M
- -0.96%
- YTD
- -0.59%
- 1Y
- 1.97%
- 3Y*
- 5.03%
- 5Y*
- -0.13%
- 10Y*
- 2.42%
- ALL TIME*
- 3.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.42M | $13.99M | $18.95M | |
| $130.65K | $204.60K | $255.48K |
VBCJ vs. SPBO - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
VBCJ Vanguard Target Maturity 2036 Corporate Bond ETF | -0.08% |
SPBO SPDR Portfolio Corporate Bond ETF | -0.12% |
Correlation
The correlation between VBCJ and SPBO is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Mar 26, 2026 | 0.97 |
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Return for Risk
VBCJ vs. SPBO — Risk / Return Rank
VBCJ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPBO
VBCJ vs. SPBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Maturity 2036 Corporate Bond ETF (VBCJ) and SPDR Portfolio Corporate Bond ETF (SPBO). 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.
| VBCJ | SPBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.11 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.97 | — |
| Martin ratioReturn relative to average drawdown | — | 2.71 | — |
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Drawdowns
VBCJ vs. SPBO - Drawdown Comparison
The maximum VBCJ drawdown since its inception was -2.51%, smaller than the maximum SPBO drawdown of -22.23%. Use the drawdown chart below to compare losses from any high point for VBCJ and SPBO.
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Drawdown Indicators
| VBCJ | SPBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.51% | -22.23% | +19.72% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.87% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.23% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.23% | — |
Current DrawdownCurrent decline from peak | -2.44% | -2.17% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -4.01% | +3.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.02% | — |
Volatility
VBCJ vs. SPBO - Volatility Comparison
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Volatility by Period
| VBCJ | SPBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.22% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 3.43% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 4.34% | +1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.61% | 7.18% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.61% | 7.49% | -1.88% |
VBCJ vs. SPBO - Expense Ratio Comparison
VBCJ has a 0.08% expense ratio, which is higher than SPBO'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
VBCJ vs. SPBO - Dividend Comparison
VBCJ's dividend yield for the trailing twelve months is around 1.32%, less than SPBO's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPBO SPDR Portfolio Corporate Bond ETF | 4.76% | 5.09% | 5.28% | 4.73% | 3.54% | 2.42% | 2.75% | 3.46% | 3.60% | 3.15% | 3.35% | 3.07% |
VBCJ Vanguard Target Maturity 2036 Corporate Bond ETF | 1.32% | 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
With a correlation of 0.97, VBCJ and SPBO 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.
On fees, SPBO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPBO is cheaper with a 0.03% expense ratio, compared with 0.08% for VBCJ.
SPBO has the higher dividend yield at 4.76%, compared with 1.32% for VBCJ.
VBCJ tracks ICE 2036 Maturity US Corporate Constrained Index, while SPBO tracks Bloomberg U.S. Corporate Bond Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.08% for VBCJ and 0.03% for SPBO.
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