VCIT vs. IWP
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and IWP (iShares Russell Mid-Cap Growth ETF) are both exchange-traded funds - VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index, while IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. Both are passively managed. Over the past 10 years, VCIT returned 2.70%/yr vs 11.64%/yr for IWP. At a 0.07 correlation, their price movements are largely independent. VCIT charges 0.03%/yr vs 0.23%/yr for IWP.
Performance
VCIT vs. IWP - Performance Comparison
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Returns By Period
In the year-to-date period, VCIT achieves a -0.09% return, which is significantly lower than IWP's 0.63% return. Over the past 10 years, VCIT has underperformed IWP with an annualized return of 2.70%, while IWP has yielded a comparatively higher 11.64% annualized return.
VCIT
- 1D
- -0.28%
- 1M
- -0.53%
- 6M
- -0.12%
- YTD
- -0.09%
- 1Y
- 4.18%
- 3Y*
- 5.73%
- 5Y*
- 0.85%
- 10Y*
- 2.70%
- ALL TIME*
- 4.28%
IWP
- 1D
- 0.00%
- 1M
- -3.07%
- 6M
- -2.52%
- YTD
- 0.63%
- 1Y
- -1.82%
- 3Y*
- 12.07%
- 5Y*
- 4.51%
- 10Y*
- 11.64%
- ALL TIME*
- 9.13%
VCIT vs. IWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.09% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
IWP iShares Russell Mid-Cap Growth ETF | 0.63% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
Correlation
The correlation between VCIT and IWP is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.07 |
Over the past year, VCIT and IWP have become more correlated (0.41) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
VCIT vs. IWP — Risk / Return Rank
VCIT
IWP
VCIT vs. IWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and iShares Russell Mid-Cap Growth ETF (IWP). 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.
| VCIT | IWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.00 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | -0.12 | +1.54 |
| Martin ratioReturn relative to average drawdown | 4.27 | -0.35 | +4.62 |
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Drawdowns
VCIT vs. IWP - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, smaller than the maximum IWP drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for VCIT and IWP.
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Drawdown Indicators
| VCIT | IWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -56.92% | +36.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -14.79% | +11.83% |
Max Drawdown (3Y)Largest decline over 3 years | -5.98% | -25.20% | +19.22% |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | -38.62% | +18.06% |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | -38.62% | +18.06% |
Current DrawdownCurrent decline from peak | -1.62% | -6.02% | +4.40% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -9.65% | +6.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 5.19% | -4.21% |
Volatility
VCIT vs. IWP - Volatility Comparison
The current volatility for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) is 1.19%, while iShares Russell Mid-Cap Growth ETF (IWP) has a volatility of 5.06%. This indicates that VCIT experiences smaller price fluctuations and is considered to be less risky than IWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIT | IWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 5.06% | -3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 3.28% | 13.78% | -10.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 17.32% | -13.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 22.44% | -15.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.29% | 21.69% | -15.40% |
VCIT vs. IWP - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than IWP's 0.23% 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
VCIT vs. IWP - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.85%, more than IWP's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.36% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.85% | 4.62% | 4.43% | 3.72% | 3.03% | 2.87% | 2.78% | 3.37% | 3.61% | 3.21% | 3.29% | 3.34% |
Frequently Asked Questions
VCIT and IWP have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.06%) compared to VCIT (1.19%). In terms of maximum drawdown, VCIT dropped -20.56% vs IWP's -56.92%.
On 10-year performance, IWP leads with 11.64% vs 2.70% for VCIT. On fees, VCIT is cheaper at 0.03% per year. On volatility, VCIT has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWP has performed better with a 11.64% return vs 2.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCIT is cheaper with a 0.03% expense ratio, compared with 0.23% for IWP.
VCIT has the higher dividend yield at 4.85%, compared with 0.36% for IWP.
VCIT is categorized as Corporate Bonds, while IWP is Mid Cap Growth Equities. VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index, while IWP tracks Russell Midcap Growth Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VCIT and 0.23% for IWP.
VCIT currently has the higher Sharpe Ratio (1.02 vs -0.11), 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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