VCLT vs. CNYA
VCLT (Vanguard Long-Term Corporate Bond ETF) and CNYA (iShares MSCI China A ETF) are both exchange-traded funds - VCLT is a Corporate Bonds fund tracking the Barclays U.S. 10+ Year Corporate Index, while CNYA is a China Equities fund tracking the MSCI China A Inclusion Index. Both are passively managed. Over the past 5 years, VCLT returned -2.13%/yr vs -1.67%/yr for CNYA. At a 0.08 correlation, their price movements are largely independent. VCLT charges 0.04%/yr vs 0.60%/yr for CNYA.
Performance
VCLT vs. CNYA - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 0.19% return, which is significantly lower than CNYA's 4.11% return.
VCLT
- 1D
- -0.30%
- 1M
- -0.62%
- YTD
- 0.19%
- 6M
- -0.19%
- 1Y
- 6.74%
- 3Y*
- 4.19%
- 5Y*
- -2.13%
- 10Y*
- 2.14%
CNYA
- 1D
- -0.99%
- 1M
- -4.23%
- YTD
- 4.11%
- 6M
- 6.49%
- 1Y
- 30.18%
- 3Y*
- 9.91%
- 5Y*
- -1.67%
- 10Y*
- —
VCLT vs. CNYA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 0.19% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
CNYA iShares MSCI China A ETF | 4.11% | 26.48% | 10.78% | -13.76% | -26.51% | 3.53% | 41.54% | 35.95% | -26.56% | 30.99% |
Correlation
The correlation between VCLT and CNYA is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2016 | 0.08 |
The correlation between VCLT and CNYA shifts across timeframes, from 0.08 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VCLT vs. CNYA — Risk / Return Rank
VCLT
CNYA
VCLT vs. CNYA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and iShares MSCI China A ETF (CNYA). 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.
| VCLT | CNYA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.31 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 3.99 | -2.71 |
| Martin ratioReturn relative to average drawdown | 3.15 | 11.48 | -8.32 |
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
| VCLT | CNYA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.71 | -0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | -0.07 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.25 | +0.14 |
Drawdowns
VCLT vs. CNYA - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, smaller than the maximum CNYA drawdown of -49.49%. Use the drawdown chart below to compare losses from any high point for VCLT and CNYA.
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Drawdown Indicators
| VCLT | CNYA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -49.49% | +15.18% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -7.59% | +2.34% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -33.35% | +20.32% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -44.65% | +10.34% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | — | — |
Current DrawdownCurrent decline from peak | -15.03% | -17.53% | +2.50% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -20.68% | +12.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 2.64% | -0.50% |
Volatility
VCLT vs. CNYA - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond ETF (VCLT) is 2.27%, while iShares MSCI China A ETF (CNYA) has a volatility of 6.87%. This indicates that VCLT experiences smaller price fluctuations and is considered to be less risky than CNYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | CNYA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 6.87% | -4.60% |
Volatility (6M)Calculated over the trailing 6-month period | 5.80% | 12.79% | -6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.88% | 17.73% | -9.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.77% | 23.85% | -11.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 23.57% | -10.72% |
VCLT vs. CNYA - Expense Ratio Comparison
VCLT has a 0.04% expense ratio, which is lower than CNYA's 0.60% expense ratio.
Dividends
VCLT vs. CNYA - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.59%, more than CNYA's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNYA iShares MSCI China A ETF | 1.84% | 1.92% | 2.51% | 4.23% | 2.69% | 1.11% | 1.06% | 1.21% | 3.92% | 0.97% | 1.38% | 0.00% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.59% | 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
VCLT and CNYA have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNYA has higher volatility (6.87%) compared to VCLT (2.27%). In terms of maximum drawdown, VCLT dropped -34.31% vs CNYA's -49.49%.
On 5-year performance, CNYA leads with -1.67% vs -2.13% for VCLT. On fees, VCLT is cheaper at 0.04% per year. On volatility, VCLT has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CNYA has performed better with a -1.67% return vs -2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT is cheaper with a 0.04% expense ratio, compared with 0.60% for CNYA.
VCLT has the higher dividend yield at 5.59%, compared with 1.84% for CNYA.
VCLT is categorized as Corporate Bonds, while CNYA is China Equities. VCLT tracks Barclays U.S. 10+ Year Corporate Index, while CNYA tracks MSCI China A Inclusion Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.04% for VCLT and 0.60% for CNYA.
CNYA currently has the higher Sharpe Ratio (1.71 vs 0.86), 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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