VBLAX vs. VLTCX
VBLAX (Vanguard Long-Term Bond Index Fund Admiral Shares) and VLTCX (Vanguard Long-Term Corporate Bond Index Fund Admiral Shares) are both mutual funds - VBLAX is a Total Bond Market fund managed by Vanguard, while VLTCX is a Corporate Bonds fund managed by Vanguard. Over the past 5 years, VBLAX returned -5.20%/yr vs -3.48%/yr for VLTCX. Their 0.97 correlation means they have historically moved very closely together. Both charge a 0.07% expense ratio.
Performance
VBLAX vs. VLTCX - Performance Comparison
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Returns By Period
In the year-to-date period, VBLAX achieves a -3.42% return, which is significantly lower than VLTCX's -2.66% return.
VBLAX
- 1D
- -0.50%
- 1M
- -3.76%
- 6M
- -3.26%
- YTD
- -3.42%
- 1Y
- -1.17%
- 3Y*
- 1.23%
- 5Y*
- -5.20%
- 10Y*
- —
- ALL TIME*
- 0.08%
VLTCX
- 1D
- -0.36%
- 1M
- -3.59%
- 6M
- -3.00%
- YTD
- -2.66%
- 1Y
- -0.17%
- 3Y*
- 3.27%
- 5Y*
- -3.48%
- 10Y*
- 1.64%
- ALL TIME*
- 4.40%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VBLAX vs. VLTCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | -3.42% | 6.57% | -4.14% | 7.55% | -27.22% | -3.36% | 15.75% | 16.45% |
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | -2.66% | 7.27% | -1.47% | 11.05% | -25.77% | -1.16% | 13.68% | 19.00% |
Correlation
The correlation between VBLAX and VLTCX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.97 |
The correlation between VBLAX and VLTCX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VBLAX vs. VLTCX — Risk / Return Rank
VBLAX
VLTCX
VBLAX vs. VLTCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) and Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX). 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.
| VBLAX | VLTCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.02 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 0.11 | -0.13 |
| Martin ratioReturn relative to average drawdown | -0.05 | 0.23 | -0.28 |
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Drawdowns
VBLAX vs. VLTCX - Drawdown Comparison
The maximum VBLAX drawdown since its inception was -38.62%, which is greater than VLTCX's maximum drawdown of -34.56%. Use the drawdown chart below to compare losses from any high point for VBLAX and VLTCX.
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Drawdown Indicators
| VBLAX | VLTCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -34.56% | -4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -5.49% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -11.56% | -10.12% | -1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -36.32% | -34.56% | -1.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.56% | — |
Current DrawdownCurrent decline from peak | -27.42% | -17.10% | -10.32% |
Average DrawdownAverage peak-to-trough decline | -18.25% | -8.10% | -10.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 2.46% | +0.29% |
Volatility
VBLAX vs. VLTCX - Volatility Comparison
Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) has a higher volatility of 2.10% compared to Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) at 1.95%. This indicates that VBLAX's price experiences larger fluctuations and is considered to be riskier than VLTCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VBLAX | VLTCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 1.95% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.00% | 5.71% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 7.48% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.81% | 11.82% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.56% | 10.58% | +1.98% |
VBLAX vs. VLTCX - Expense Ratio Comparison
Both VBLAX and VLTCX have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VBLAX vs. VLTCX - Dividend Comparison
VBLAX's dividend yield for the trailing twelve months is around 4.54%, less than VLTCX's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBLAX Vanguard Long-Term Bond Index Fund Admiral Shares | 4.54% | 4.64% | 4.61% | 4.08% | 4.13% | 2.62% | 5.39% | 3.25% | 0.00% | 0.00% | 0.00% | 0.00% |
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 5.16% | 5.48% | 5.58% | 4.65% | 4.41% | 3.03% | 3.15% | 3.82% | 4.56% | 4.01% | 4.37% | 4.71% |
Frequently Asked Questions
With a correlation of 0.96, VBLAX and VLTCX 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.
VBLAX has higher volatility (2.10%) compared to VLTCX (1.95%). In terms of maximum drawdown, VBLAX dropped -38.62% vs VLTCX's -34.56%.
VLTCX currently has the higher Sharpe Ratio (0.08 vs -0.02), 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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