VCLT vs. HYIN
VCLT (Vanguard Long-Term Corporate Bond ETF) and HYIN (WisdomTree Alternative Income Fund) are both exchange-traded funds - VCLT is a Corporate Bonds fund tracking the Barclays U.S. 10+ Year Corporate Index, while HYIN is a Diversified Portfolio fund tracking the Gapstow Liquid Alternative Credit Index. Both are passively managed. Over the past 5 years, VCLT returned -1.73%/yr vs -0.48%/yr for HYIN. At a 0.36 correlation, their price movements are largely independent. VCLT charges 0.04%/yr vs 3.20%/yr for HYIN.
Performance
VCLT vs. HYIN - 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 HYIN's -5.23% return.
VCLT
- 1D
- 0.28%
- 1M
- 1.13%
- YTD
- 1.27%
- 6M
- 0.48%
- 1Y
- 6.83%
- 3Y*
- 4.56%
- 5Y*
- -1.73%
- 10Y*
- 2.37%
HYIN
- 1D
- 1.27%
- 1M
- -3.56%
- YTD
- -5.23%
- 6M
- -5.97%
- 1Y
- -3.94%
- 3Y*
- 5.20%
- 5Y*
- -0.48%
- 10Y*
- —
VCLT vs. HYIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 1.27% | 7.18% | -1.90% | 11.17% | -25.50% | 4.53% |
HYIN WisdomTree Alternative Income Fund | -5.23% | -0.46% | 7.39% | 21.84% | -21.14% | 3.08% |
Correlation
The correlation between VCLT and HYIN is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since May 7, 2021 | 0.36 |
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Return for Risk
VCLT vs. HYIN — Risk / Return Rank
VCLT
HYIN
VCLT vs. HYIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and WisdomTree Alternative Income Fund (HYIN). 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 | HYIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.96 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | -0.25 | +1.56 |
| Martin ratioReturn relative to average drawdown | 3.21 | -0.54 | +3.76 |
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 | HYIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | -0.31 | +1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | -0.03 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.00 | +0.39 |
Drawdowns
VCLT vs. HYIN - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, which is greater than HYIN's maximum drawdown of -31.10%. Use the drawdown chart below to compare losses from any high point for VCLT and HYIN.
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Drawdown Indicators
| VCLT | HYIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -31.10% | -3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -15.52% | +10.27% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -15.85% | +2.82% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -31.10% | -3.21% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | — | — |
Current DrawdownCurrent decline from peak | -14.12% | -11.06% | -3.06% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -9.02% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 7.28% | -5.15% |
Volatility
VCLT vs. HYIN - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond ETF (VCLT) is 2.25%, while WisdomTree Alternative Income Fund (HYIN) has a volatility of 3.44%. This indicates that VCLT experiences smaller price fluctuations and is considered to be less risky than HYIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | HYIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 3.44% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 5.75% | 10.23% | -4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.93% | 12.82% | -4.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.77% | 16.81% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 16.81% | -3.97% |
VCLT vs. HYIN - Expense Ratio Comparison
VCLT has a 0.04% expense ratio, which is lower than HYIN's 3.20% expense ratio.
Dividends
VCLT vs. HYIN - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.53%, less than HYIN's 13.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 13.27% | 12.58% | 12.59% | 11.71% | 11.34% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
VCLT and HYIN have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYIN has higher volatility (3.44%) compared to VCLT (2.25%). In terms of maximum drawdown, VCLT dropped -34.31% vs HYIN's -31.10%.
On 5-year performance, HYIN leads with -0.48% vs -1.73% for VCLT. On fees, VCLT is cheaper at 0.04% per year. On volatility, VCLT has been the lower-risk option at 2.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYIN has performed better with a -0.48% return vs -1.73%. 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 3.20% for HYIN.
HYIN has the higher dividend yield at 13.27%, compared with 5.53% for VCLT.
VCLT is categorized as Corporate Bonds, while HYIN is Diversified Portfolio. VCLT tracks Barclays U.S. 10+ Year Corporate Index, while HYIN tracks Gapstow Liquid Alternative Credit Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.04% for VCLT and 3.20% for HYIN.
VCLT currently has the higher Sharpe Ratio (0.87 vs -0.31), 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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