VCIT vs. SPIB
VCIT (Vanguard Intermediate-Term Corporate Bond ETF) and SPIB (SPDR Portfolio Intermediate Term Corporate Bond ETF) are both Corporate Bonds funds - VCIT tracks the Bloomberg U.S. 5-10 Year Corporate Bond Index while SPIB tracks the Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. Both are passively managed. Over the past 10 years, VCIT returned 2.86%/yr vs 2.79%/yr for SPIB. Their correlation of 0.83 suggests significant overlap in exposure. VCIT charges 0.03%/yr vs 0.07%/yr for SPIB.
Performance
VCIT vs. SPIB - Performance Comparison
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Returns By Period
In the year-to-date period, VCIT achieves a 0.22% return, which is significantly lower than SPIB's 0.46% return. Both investments have delivered pretty close results over the past 10 years, with VCIT having a 2.86% annualized return and SPIB not far behind at 2.79%.
VCIT
- 1D
- -0.23%
- 1M
- 0.50%
- YTD
- 0.22%
- 6M
- 0.37%
- 1Y
- 5.37%
- 3Y*
- 6.06%
- 5Y*
- 1.14%
- 10Y*
- 2.86%
SPIB
- 1D
- -0.12%
- 1M
- 0.37%
- YTD
- 0.46%
- 6M
- 0.64%
- 1Y
- 4.70%
- 3Y*
- 5.83%
- 5Y*
- 1.77%
- 10Y*
- 2.79%
VCIT vs. SPIB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 0.22% | 9.34% | 3.20% | 8.98% | -13.98% | -1.77% | 9.46% | 14.10% | -1.74% | 5.31% |
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 0.46% | 7.91% | 4.28% | 7.27% | -9.65% | -1.24% | 7.69% | 10.23% | -0.49% | 3.76% |
Correlation
The correlation between VCIT and SPIB is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | 0.83 |
The correlation between VCIT and SPIB shifts across timeframes, from 0.83 (all time) to 0.98 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCIT vs. SPIB — Risk / Return Rank
VCIT
SPIB
VCIT vs. SPIB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Intermediate-Term Corporate Bond ETF (VCIT) and SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB). 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 | SPIB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.34 | -0.52 |
| Martin ratioReturn relative to average drawdown | 5.78 | 7.83 | -2.05 |
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Drawdowns
VCIT vs. SPIB - Drawdown Comparison
The maximum VCIT drawdown since its inception was -20.56%, which is greater than SPIB's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for VCIT and SPIB.
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Drawdown Indicators
| VCIT | SPIB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -14.94% | -5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.96% | -2.02% | -0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -3.18% | -2.93% |
Max Drawdown (5Y)Largest decline over 5 years | -20.56% | -14.80% | -5.76% |
Max Drawdown (10Y)Largest decline over 10 years | -20.56% | -14.94% | -5.62% |
Current DrawdownCurrent decline from peak | -1.32% | -0.78% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -3.15% | -1.90% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.60% | +0.33% |
Volatility
VCIT vs. SPIB - Volatility Comparison
Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a higher volatility of 1.23% compared to SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) at 0.91%. This indicates that VCIT's price experiences larger fluctuations and is considered to be riskier than SPIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCIT | SPIB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.23% | 0.91% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 2.19% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 2.86% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.62% | 4.48% | +2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.29% | 4.60% | +1.69% |
VCIT vs. SPIB - Expense Ratio Comparison
VCIT has a 0.03% expense ratio, which is lower than SPIB'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. SPIB - Dividend Comparison
VCIT's dividend yield for the trailing twelve months is around 4.80%, more than SPIB's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIB SPDR Portfolio Intermediate Term Corporate Bond ETF | 4.46% | 4.42% | 4.41% | 3.84% | 2.65% | 1.58% | 2.18% | 3.03% | 3.04% | 2.79% | 2.68% | 2.69% |
VCIT Vanguard Intermediate-Term Corporate Bond ETF | 4.80% | 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
With a correlation of 0.98, VCIT and SPIB 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.
VCIT has higher volatility (1.23%) compared to SPIB (0.91%). In terms of maximum drawdown, VCIT dropped -20.56% vs SPIB's -14.94%.
On 10-year performance, VCIT leads with 2.86% vs 2.79% for SPIB. On fees, VCIT is cheaper at 0.03% per year. On volatility, SPIB has been the lower-risk option at 0.91%. 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 2.86% return vs 2.79%. 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 SPIB.
VCIT has the higher dividend yield at 4.80%, compared with 4.46% for SPIB.
VCIT tracks Bloomberg U.S. 5-10 Year Corporate Bond Index, while SPIB tracks Bloomberg US Aggregate Credit - Corporate - Investment Grade - Intermediate. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.03% for VCIT and 0.07% for SPIB.
SPIB currently has the higher Sharpe Ratio (1.66 vs 1.31), 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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