VCLT vs. BLV
VCLT (Vanguard Long-Term Corporate Bond ETF) and BLV (Vanguard Long-Term Bond ETF) are both exchange-traded funds - VCLT is a Corporate Bonds fund tracking the Bloomberg U.S. 10+ Year Corporate Bond Index, while BLV is a Long-Term Bond fund tracking the Bloomberg U.S. Long Government/Credit Float Adjusted Index. Both are passively managed. Over the past 10 years, VCLT returned 2.24%/yr vs 0.91%/yr for BLV. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.
Performance
VCLT vs. BLV - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 1.27% return, which is significantly higher than BLV's 0.81% return. Over the past 10 years, VCLT has outperformed BLV with an annualized return of 2.24%, while BLV has yielded a comparatively lower 0.91% annualized return.
VCLT
- 1D
- -0.40%
- 1M
- 1.31%
- YTD
- 1.27%
- 6M
- 1.30%
- 1Y
- 6.37%
- 3Y*
- 4.08%
- 5Y*
- -2.16%
- 10Y*
- 2.24%
BLV
- 1D
- -0.55%
- 1M
- 1.61%
- YTD
- 0.81%
- 6M
- 0.84%
- 1Y
- 5.47%
- 3Y*
- 1.85%
- 5Y*
- -3.65%
- 10Y*
- 0.91%
VCLT vs. BLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 1.27% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
BLV Vanguard Long-Term Bond ETF | 0.81% | 6.44% | -3.65% | 7.35% | -26.95% | -2.89% | 16.13% | 18.99% | -4.17% | 10.74% |
Correlation
The correlation between VCLT and BLV is 0.97 - 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 | 0.97 |
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 | 0.91 |
The correlation between VCLT and BLV has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.
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Return for Risk
VCLT vs. BLV — Risk / Return Rank
VCLT
BLV
VCLT vs. BLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and Vanguard Long-Term Bond ETF (BLV). 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.
| VCLT | BLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.12 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 0.96 | +0.26 |
| Martin ratioReturn relative to average drawdown | 2.95 | 2.34 | +0.60 |
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Drawdowns
VCLT vs. BLV - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, smaller than the maximum BLV drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for VCLT and BLV.
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Drawdown Indicators
| VCLT | BLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -38.29% | +3.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -5.73% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -15.16% | +2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -36.27% | +1.96% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -38.29% | +3.98% |
Current DrawdownCurrent decline from peak | -14.12% | -23.74% | +9.62% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -9.55% | +1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.34% | -0.17% |
Volatility
VCLT vs. BLV - Volatility Comparison
Vanguard Long-Term Corporate Bond ETF (VCLT) and Vanguard Long-Term Bond ETF (BLV) have volatilities of 1.91% and 1.97%, 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.
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Volatility by Period
| VCLT | BLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 1.97% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 5.84% | 5.76% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 7.98% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 12.93% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 11.99% | +0.86% |
VCLT vs. BLV - Expense Ratio Comparison
Both VCLT and BLV have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VCLT vs. BLV - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.53%, more than BLV's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BLV Vanguard Long-Term Bond ETF | 4.78% | 4.67% | 5.09% | 4.06% | 4.17% | 3.37% | 6.12% | 3.57% | 4.07% | 3.63% | 4.16% | 4.37% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.53% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
Frequently Asked Questions
With a correlation of 0.97, VCLT and BLV 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.
BLV has higher volatility (1.97%) compared to VCLT (1.91%). In terms of maximum drawdown, VCLT dropped -34.31% vs BLV's -38.29%.
On 10-year performance, VCLT leads with 2.24% vs 0.91% for BLV. Both ETFs have the same 0.03% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VCLT has performed better with a 2.24% return vs 0.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT and BLV have the same expense ratio: 0.03% per year.
VCLT has the higher dividend yield at 5.53%, compared with 4.78% for BLV.
VCLT is categorized as Corporate Bonds, while BLV is Long-Term Bond. VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index, while BLV tracks Bloomberg U.S. Long Government/Credit Float Adjusted Index.
VCLT currently has the higher Sharpe Ratio (0.82 vs 0.69), 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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