VCLT vs. HYG
Compare and contrast key facts about Vanguard Long-Term Corporate Bond ETF (VCLT) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).
VCLT and HYG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VCLT is a passively managed fund by Vanguard that tracks the performance of the Barclays U.S. 10+ Year Corporate Index. It was launched on Nov 19, 2009. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007. Both VCLT and HYG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
VCLT vs. HYG - Performance Comparison
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VCLT vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | -0.48% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | -0.11% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Returns By Period
In the year-to-date period, VCLT achieves a -0.48% return, which is significantly lower than HYG's -0.11% return. Over the past 10 years, VCLT has underperformed HYG with an annualized return of 2.47%, while HYG has yielded a comparatively higher 5.16% annualized return.
VCLT
- 1D
- 0.16%
- 1M
- -2.31%
- YTD
- -0.48%
- 6M
- -1.46%
- 1Y
- 3.64%
- 3Y*
- 3.12%
- 5Y*
- -1.70%
- 10Y*
- 2.47%
HYG
- 1D
- 0.24%
- 1M
- -0.65%
- YTD
- -0.11%
- 6M
- 0.93%
- 1Y
- 6.91%
- 3Y*
- 7.99%
- 5Y*
- 3.66%
- 10Y*
- 5.16%
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VCLT vs. HYG - Expense Ratio Comparison
VCLT has a 0.04% expense ratio, which is lower than HYG's 0.49% expense ratio.
Return for Risk
VCLT vs. HYG — Risk / Return Rank
VCLT
HYG
VCLT vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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 | HYG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.36 | 1.25 | -0.89 |
Sortino ratioReturn per unit of downside risk | 0.54 | 1.87 | -1.33 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.29 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 0.78 | 1.82 | -1.04 |
Martin ratioReturn relative to average drawdown | 1.80 | 9.57 | -7.77 |
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 | HYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.36 | 1.25 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.49 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.62 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.45 | -0.06 |
Correlation
The correlation between VCLT and HYG is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VCLT vs. HYG - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.64%, less than HYG's 5.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 5.64% | 5.51% | 5.19% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.88% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Drawdowns
VCLT vs. HYG - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, roughly equal to the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for VCLT and HYG.
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Drawdown Indicators
| VCLT | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -34.25% | -0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.39% | -3.93% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -15.79% | -18.52% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -22.03% | -12.28% |
Current DrawdownCurrent decline from peak | -15.60% | -1.05% | -14.55% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -3.27% | -4.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 0.75% | +1.58% |
Volatility
VCLT vs. HYG - Volatility Comparison
Vanguard Long-Term Corporate Bond ETF (VCLT) has a higher volatility of 3.99% compared to iShares iBoxx $ High Yield Corporate Bond ETF (HYG) at 2.30%. This indicates that VCLT's price experiences larger fluctuations and is considered to be riskier than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 2.30% | +1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 5.62% | 2.93% | +2.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.21% | 5.57% | +4.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.80% | 7.51% | +5.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 8.31% | +4.53% |