VCEB vs. SUSC

Last updated Jun 3, 2026

VCEB (Vanguard ESG U.S. Corporate Bond ETF) and SUSC (iShares ESG Aware USD Corporate Bond ETF) are both Corporate Bonds funds - VCEB tracks the Bloomberg Barclays MSCI US Corp SRI Select Index while SUSC tracks the Bloomberg MSCI US Corporate ESG Focus Index. Both are passively managed. Over the past 5 years, VCEB returned 0.66%/yr vs 0.48%/yr for SUSC. With a 0.98 correlation, they move nearly in lockstep. VCEB charges 0.12%/yr vs 0.18%/yr for SUSC.

Performance

VCEB vs. SUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard ESG U.S. Corporate Bond ETF (VCEB) and iShares ESG Aware USD Corporate Bond ETF (SUSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VCEB achieves a 0.50% return, which is significantly lower than SUSC's 0.60% return.

VCEB

• 1D: 0.01%
• 1M: 0.58%
• YTD: 0.50%
• 6M: 0.49%
• 1Y: 5.58%
• 3Y*: 5.11%
• 5Y*: 0.66%
• 10Y*: —

SUSC

• 1D: -0.02%
• 1M: 0.45%
• YTD: 0.60%
• 6M: 0.62%
• 1Y: 6.01%
• 3Y*: 5.14%
• 5Y*: 0.48%
• 10Y*: —

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

VCEB vs. SUSC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VCEB Vanguard ESG U.S. Corporate Bond ETF	0.50%	7.48%	2.23%	8.52%	-15.15%	-1.99%	2.46%
SUSC iShares ESG Aware USD Corporate Bond ETF	0.60%	7.57%	1.91%	8.58%	-15.95%	-1.57%	2.95%

Correlation

The correlation between VCEB and SUSC is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020	0.98

The correlation between VCEB and SUSC has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

VCEB vs. SUSC — Risk / Return Rank

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

VCEB

VCEB Risk / Return Rank: 37
VCEB Sharpe Ratio Rank: 37
VCEB Sortino Ratio Rank: 37
VCEB Omega Ratio Rank: 35
VCEB Calmar Ratio Rank: 38
VCEB Martin Ratio Rank: 38

SUSC

SUSC Risk / Return Rank: 39
SUSC Sharpe Ratio Rank: 38
SUSC Sortino Ratio Rank: 39
SUSC Omega Ratio Rank: 36
SUSC Calmar Ratio Rank: 40
SUSC Martin Ratio Rank: 39

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.

VCEB vs. SUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard ESG U.S. Corporate Bond ETF (VCEB) and iShares ESG Aware USD Corporate Bond ETF (SUSC). 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.

	VCEB	SUSC	Difference
Sharpe ratio Return per unit of total volatility	1.34	1.37	-0.04
Sortino ratio Return per unit of downside risk	1.96	2.03	-0.08
Omega ratio Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio Return relative to maximum drawdown	1.92	2.02	-0.10
Martin ratio Return relative to average drawdown	5.96	6.29	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCEB vs. SUSC - Sharpe Ratio Comparison

The current VCEB Sharpe Ratio is 1.34, which is comparable to the SUSC Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of VCEB and SUSC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VCEB	SUSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.37	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.07	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.30	-0.25

Drawdowns

VCEB vs. SUSC - Drawdown Comparison

The maximum VCEB drawdown since its inception was -21.60%, roughly equal to the maximum SUSC drawdown of -22.42%. Use the drawdown chart below to compare losses from any high point for VCEB and SUSC.

Drawdown Indicators

	VCEB	SUSC	Difference
Max Drawdown Largest peak-to-trough decline	-21.60%	-22.42%	+0.82%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-2.87%	+0.05%
Max Drawdown (3Y) Largest decline over 3 years	-6.09%	-6.57%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-21.39%	-22.42%	+1.03%
Current Drawdown Current decline from peak	-0.87%	-1.23%	+0.36%
Average Drawdown Average peak-to-trough decline	-7.64%	-5.89%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.92%	-0.01%

Volatility

VCEB vs. SUSC - Volatility Comparison

The current volatility for Vanguard ESG U.S. Corporate Bond ETF (VCEB) is 1.34%, while iShares ESG Aware USD Corporate Bond ETF (SUSC) has a volatility of 1.43%. This indicates that VCEB experiences smaller price fluctuations and is considered to be less risky than SUSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VCEB	SUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.43%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	3.14%	3.24%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	4.19%	4.40%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.84%	7.19%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.66%	7.63%	-0.97%

VCEB vs. SUSC - Expense Ratio Comparison

VCEB has a 0.12% expense ratio, which is lower than SUSC's 0.18% 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

VCEB vs. SUSC - Dividend Comparison

VCEB's dividend yield for the trailing twelve months is around 4.64%, more than SUSC's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SUSC iShares ESG Aware USD Corporate Bond ETF	4.49%	4.37%	4.34%	3.83%	2.97%	2.21%	2.19%	3.07%	3.33%	1.33%
VCEB Vanguard ESG U.S. Corporate Bond ETF	4.64%	4.57%	4.47%	3.70%	2.84%	1.69%	0.43%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VCEB and SUSC in my portfolio?

With a correlation of 0.97, VCEB and SUSC 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.

Which is riskier, VCEB or SUSC?

SUSC has higher volatility (1.43%) compared to VCEB (1.34%). In terms of maximum drawdown, VCEB dropped -21.60% vs SUSC's -22.42%.

Which ETF is better, VCEB or SUSC?

On 5-year performance, VCEB leads with 0.66% vs 0.48% for SUSC. On fees, VCEB is cheaper at 0.12% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VCEB or SUSC?

Over the 5-year period, VCEB has performed better with a 0.66% return vs 0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VCEB or SUSC?

VCEB is cheaper with a 0.12% expense ratio, compared with 0.18% for SUSC.

Which ETF pays a higher dividend yield, VCEB or SUSC?

VCEB has the higher dividend yield at 4.64%, compared with 4.49% for SUSC.

What is the main difference between VCEB and SUSC?

VCEB tracks Bloomberg Barclays MSCI US Corp SRI Select Index, while SUSC tracks Bloomberg MSCI US Corporate ESG Focus Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.12% for VCEB and 0.18% for SUSC.

Which has better risk-adjusted returns?

SUSC currently has the higher Sharpe Ratio (1.37 vs 1.34), 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.