VCEB vs. USIG
VCEB (Vanguard ESG U.S. Corporate Bond ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - VCEB tracks the Bloomberg Barclays MSCI US Corp SRI Select Index while USIG tracks the ICE BofA US Corporate. Both are passively managed. Over the past 5 years, VCEB returned -0.23%/yr vs -0.00%/yr for USIG. Their 0.98 correlation means they have historically moved very closely together. VCEB charges 0.12%/yr vs 0.04%/yr for USIG.
Performance
VCEB vs. USIG - Performance Comparison
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Returns By Period
In the year-to-date period, VCEB achieves a -0.91% return, which is significantly lower than USIG's -0.49% return.
VCEB
- 1D
- -0.03%
- 1M
- -1.57%
- 6M
- -1.15%
- YTD
- -0.91%
- 1Y
- 1.38%
- 3Y*
- 4.64%
- 5Y*
- -0.23%
- 10Y*
- —
- ALL TIME*
- 0.11%
USIG
- 1D
- -0.10%
- 1M
- -1.51%
- 6M
- -0.85%
- YTD
- -0.49%
- 1Y
- 2.04%
- 3Y*
- 5.08%
- 5Y*
- 0.00%
- 10Y*
- 2.31%
- ALL TIME*
- 3.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $98.77M | $106.12M | $96.97M | |
| $3.14M | $4.62M | $5.43M |
VCEB vs. USIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VCEB Vanguard ESG U.S. Corporate Bond ETF | -0.91% | 7.48% | 2.23% | 8.52% | -15.15% | -1.99% | 2.45% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | -0.49% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 2.98% |
Correlation
The correlation between VCEB and USIG is 0.98 - 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. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2020 | 0.98 |
The correlation between VCEB and USIG has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
VCEB vs. USIG — Risk / Return Rank
VCEB
USIG
VCEB vs. USIG - 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 Broad USD Investment Grade Corporate Bond ETF (USIG). 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 | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.12 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.01 | -0.25 |
| Martin ratioReturn relative to average drawdown | 2.01 | 2.91 | -0.90 |
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Drawdowns
VCEB vs. USIG - Drawdown Comparison
The maximum VCEB drawdown since its inception was -21.60%, roughly equal to the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for VCEB and USIG.
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Drawdown Indicators
| VCEB | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.60% | -22.21% | +0.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -2.79% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -5.00% | -4.97% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -21.39% | -21.45% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.45% | — |
Current DrawdownCurrent decline from peak | -2.26% | -2.00% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -7.46% | -3.40% | -4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.97% | +0.10% |
Volatility
VCEB vs. USIG - Volatility Comparison
Vanguard ESG U.S. Corporate Bond ETF (VCEB) has a higher volatility of 1.12% compared to iShares Broad USD Investment Grade Corporate Bond ETF (USIG) at 1.06%. This indicates that VCEB's price experiences larger fluctuations and is considered to be riskier than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCEB | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.06% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.33% | 3.22% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 4.07% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.84% | 6.81% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.60% | 6.82% | -0.22% |
VCEB vs. USIG - Expense Ratio Comparison
VCEB has a 0.12% expense ratio, which is higher than USIG's 0.04% 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
VCEB vs. USIG - Dividend Comparison
VCEB's dividend yield for the trailing twelve months is around 4.73%, less than USIG's 4.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.42% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
VCEB Vanguard ESG U.S. Corporate Bond ETF | 4.33% | 4.57% | 4.47% | 3.70% | 2.84% | 1.69% | 0.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, VCEB and USIG 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 (1.12%) compared to USIG (1.06%). In terms of maximum drawdown, VCEB dropped -21.60% vs USIG's -22.21%.
On 5-year performance, USIG leads with -0.00% vs -0.23% for VCEB. On fees, USIG is cheaper at 0.04% 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, USIG has performed better with a -0.00% return vs -0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USIG is cheaper with a 0.04% expense ratio, compared with 0.12% for VCEB.
USIG has the higher dividend yield at 4.42%, compared with 4.33% for VCEB.
VCEB tracks Bloomberg Barclays MSCI US Corp SRI Select Index, while USIG tracks ICE BofA US Corporate. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.12% for VCEB and 0.04% for USIG.
USIG currently has the higher Sharpe Ratio (0.70 vs 0.51), 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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