VCIT vs. MGOV
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and MGOV (First Trust Intermediate Government Opportunities ETF) are both exchange-traded funds - VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index, while MGOV is a Government Bonds fund actively managed by First Trust. VCIT is passively managed, while MGOV is actively managed. Over the past year, VCIT returned 6.00% vs 6.11% for MGOV. Their correlation of 0.87 suggests significant overlap in exposure. VCIT charges 0.03%/yr vs 0.65%/yr for MGOV.
Performance
VCIT vs. MGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VCIT achieves a 0.41% return, which is significantly lower than MGOV's 0.44% return.
VCIT
- 1D
- -0.07%
- 1M
- 0.96%
- YTD
- 0.41%
- 6M
- 0.89%
- 1Y
- 6.00%
- 3Y*
- 6.37%
- 5Y*
- 1.11%
- 10Y*
- 2.93%
MGOV
- 1D
- -0.30%
- 1M
- 0.95%
- YTD
- 0.44%
- 6M
- 0.90%
- 1Y
- 6.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VCIT vs. MGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.41% | 9.34% | 3.20% | 5.95% |
MGOV First Trust Intermediate Government Opportunities ETF | 0.44% | 8.54% | 1.55% | 4.56% |
Correlation
The correlation between VCIT and MGOV is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023 | 0.87 |
The correlation between VCIT and MGOV has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VCIT vs. MGOV — Risk / Return Rank
VCIT
MGOV
VCIT vs. MGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and First Trust Intermediate Government Opportunities ETF (MGOV). 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 | MGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 1.62 | +0.26 |
| Martin ratioReturn relative to average drawdown | 6.07 | 4.72 | +1.35 |
Loading charts...
Drawdowns
VCIT vs. MGOV - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, which is greater than MGOV's maximum drawdown of -6.11%. Use the drawdown chart below to compare losses from any high point for VCIT and MGOV.
Loading charts...
Drawdown Indicators
| VCIT | MGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -6.11% | -14.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -3.53% | +0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -2.13% | +1.00% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -1.63% | -1.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 1.21% | -0.29% |
Volatility
VCIT vs. MGOV - Volatility Comparison
Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and First Trust Intermediate Government Opportunities ETF (MGOV) have volatilities of 1.48% and 1.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VCIT | MGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.47% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.15% | 3.26% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 4.53% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 5.93% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.28% | 5.93% | +0.35% |
VCIT vs. MGOV - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than MGOV's 0.65% expense ratio.
Dividends
VCIT vs. MGOV - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.79%, less than MGOV's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 4.96% | 4.95% | 5.05% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.79% | 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 MGOV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCIT has higher volatility (1.48%) compared to MGOV (1.47%). In terms of maximum drawdown, VCIT dropped -20.56% vs MGOV's -6.11%.
On 1-year performance, MGOV leads with 6.11% vs 6.00% for VCIT. On fees, VCIT is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MGOV has performed better with a 6.11% return vs 6.00%. 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 0.65% for MGOV.
MGOV has the higher dividend yield at 4.96%, compared with 4.79% for VCIT.
VCIT is categorized as Corporate Bonds, while MGOV is Government Bonds. They also come from different issuers: Vanguard and First Trust. Their fees differ too: 0.03% for VCIT and 0.65% for MGOV.
VCIT currently has the higher Sharpe Ratio (1.36 vs 1.27), 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.
Find the right allocation for VCIT and MGOV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer