VCEB vs. SUSC
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 0.36%/yr vs 0.19%/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
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Returns By Period
In the year-to-date period, VCEB achieves a 0.41% return, which is significantly lower than SUSC's 0.58% return.
VCEB
- 1D
- -0.24%
- 1M
- 0.64%
- YTD
- 0.41%
- 6M
- 0.55%
- 1Y
- 4.62%
- 3Y*
- 5.01%
- 5Y*
- 0.36%
- 10Y*
- —
SUSC
- 1D
- -0.15%
- 1M
- 0.67%
- YTD
- 0.58%
- 6M
- 0.75%
- 1Y
- 5.11%
- 3Y*
- 5.05%
- 5Y*
- 0.19%
- 10Y*
- —
VCEB vs. SUSC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCEB Vanguard ESG U.S. Corporate Bond ETF | 0.41% | 7.48% | 2.23% | 8.52% | -15.15% | -1.99% | 2.45% |
SUSC iShares ESG Aware USD Corporate Bond ETF | 0.58% | 7.57% | 1.91% | 8.58% | -15.95% | -1.57% | 2.76% |
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 24, 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.
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Return for Risk
VCEB vs. SUSC — Risk / Return Rank
VCEB
SUSC
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.
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.
| VCEB | SUSC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.78 | -0.14 |
| Martin ratioReturn relative to average drawdown | 4.96 | 5.41 | -0.45 |
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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.
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Drawdown Indicators
| VCEB | SUSC | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.96% | -1.25% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -5.86% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.95% | -0.01% |
Volatility
VCEB vs. SUSC - Volatility Comparison
Vanguard ESG U.S. Corporate Bond ETF (VCEB) has a higher volatility of 1.21% compared to iShares ESG Aware USD Corporate Bond ETF (SUSC) at 1.12%. This indicates that VCEB's price experiences larger fluctuations and is considered to be riskier than SUSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCEB | SUSC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.12% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 3.29% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 4.37% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.84% | 7.18% | -0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.64% | 7.62% | -0.98% |
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 4.65%, 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 | 4.65% | 4.57% | 4.47% | 3.70% | 2.84% | 1.69% | 0.43% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
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.
VCEB has higher volatility (1.21%) compared to SUSC (1.12%). In terms of maximum drawdown, VCEB dropped -21.60% vs SUSC's -22.42%.
On 5-year performance, VCEB leads with 0.36% vs 0.19% 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.
Over the 5-year period, VCEB has performed better with a 0.36% return vs 0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCEB is cheaper with a 0.12% expense ratio, compared with 0.18% for SUSC.
VCEB has the higher dividend yield at 4.65%, compared with 4.49% for 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.
SUSC currently has the higher Sharpe Ratio (1.18 vs 1.10), 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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