VCIT vs. MUB
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and MUB (iShares National AMT-Free Muni Bond ETF) are both exchange-traded funds - VCIT is a Corporate Bonds fund tracking the Bloomberg U.S. 5-10 Year Corporate Bond Index, while MUB is a Municipal Bonds fund tracking the S&P National AMT-Free Municipal Bond Index. Both are passively managed. Over the past 10 years, VCIT returned 2.85%/yr vs 1.94%/yr for MUB. A 0.59 correlation means they provide meaningful diversification when combined. VCIT charges 0.03%/yr vs 0.07%/yr for MUB.
Performance
VCIT vs. MUB - Performance Comparison
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Returns By Period
In the year-to-date period, VCIT achieves a -0.26% return, which is significantly lower than MUB's 1.17% return. Over the past 10 years, VCIT has outperformed MUB with an annualized return of 2.85%, while MUB has yielded a comparatively lower 1.94% annualized return.
VCIT
- 1D
- -0.01%
- 1M
- -0.79%
- YTD
- -0.26%
- 6M
- 0.06%
- 1Y
- 5.98%
- 3Y*
- 6.04%
- 5Y*
- 1.04%
- 10Y*
- 2.85%
MUB
- 1D
- -0.03%
- 1M
- 0.21%
- YTD
- 1.17%
- 6M
- 1.69%
- 1Y
- 6.99%
- 3Y*
- 3.29%
- 5Y*
- 0.77%
- 10Y*
- 1.94%
VCIT vs. MUB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | -0.26% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
MUB iShares National AMT-Free Muni Bond ETF | 1.17% | 3.78% | 1.26% | 5.56% | -7.34% | 1.02% | 5.12% | 7.06% | 0.93% | 4.72% |
Correlation
The correlation between VCIT and MUB is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.59 |
The correlation between VCIT and MUB shifts across timeframes, from 0.59 (all time) to 0.81 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCIT vs. MUB — Risk / Return Rank
VCIT
MUB
VCIT vs. MUB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and iShares National AMT-Free Muni Bond ETF (MUB). 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.
| VCIT | MUB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.51 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.03 | 2.52 | -0.49 |
| Martin ratioReturn relative to average drawdown | 6.67 | 8.85 | -2.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VCIT | MUB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.42 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.19 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.39 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.58 | +0.17 |
Drawdowns
VCIT vs. MUB - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, which is greater than MUB's maximum drawdown of -13.68%. Use the drawdown chart below to compare losses from any high point for VCIT and MUB.
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Drawdown Indicators
| VCIT | MUB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -13.68% | -6.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -2.79% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -5.34% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | -11.88% | -8.68% |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | -13.68% | -6.88% |
Current DrawdownCurrent decline from peak | -1.79% | -0.77% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -2.23% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 0.79% | +0.11% |
Volatility
VCIT vs. MUB - Volatility Comparison
Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a higher volatility of 1.39% compared to iShares National AMT-Free Muni Bond ETF (MUB) at 0.99%. This indicates that VCIT's price experiences larger fluctuations and is considered to be riskier than MUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIT | MUB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 0.99% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 2.23% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 2.90% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.61% | 4.06% | +2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.28% | 4.92% | +1.36% |
VCIT vs. MUB - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than MUB's 0.07% 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. MUB - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.82%, more than MUB's 3.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUB iShares National AMT-Free Muni Bond ETF | 3.18% | 3.14% | 3.01% | 2.65% | 2.11% | 1.81% | 2.11% | 2.42% | 2.46% | 2.26% | 2.21% | 2.51% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.82% | 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 MUB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VCIT has higher volatility (1.39%) compared to MUB (0.99%). In terms of maximum drawdown, VCIT dropped -20.56% vs MUB's -13.68%.
On 10-year performance, VCIT leads with 2.85% vs 1.94% for MUB. On fees, VCIT is cheaper at 0.03% per year. On volatility, MUB has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VCIT has performed better with a 2.85% return vs 1.94%. 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 0.07% for MUB.
VCIT has the higher dividend yield at 4.82%, compared with 3.18% for MUB.
VCIT is categorized as Corporate Bonds, while MUB is Municipal Bonds. VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index, while MUB tracks S&P National AMT-Free Municipal Bond Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for VCIT and 0.07% for MUB.
MUB currently has the higher Sharpe Ratio (2.42 vs 1.48), 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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