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 Bloomberg U.S. 10+ Year Corporate Bond 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 -1.96%/yr vs -1.02%/yr for HYIN. At a 0.36 correlation, their price movements are largely independent. VCLT charges 0.03%/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 2.21% return, which is significantly higher than HYIN's -6.68% return.
VCLT
- 1D
- 0.00%
- 1M
- 1.76%
- YTD
- 2.21%
- 6M
- 1.47%
- 1Y
- 6.62%
- 3Y*
- 4.39%
- 5Y*
- -1.96%
- 10Y*
- 2.20%
HYIN
- 1D
- 0.15%
- 1M
- -1.18%
- YTD
- -6.68%
- 6M
- -6.42%
- 1Y
- -6.91%
- 3Y*
- 3.83%
- 5Y*
- -1.02%
- 10Y*
- —
VCLT vs. HYIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 2.21% | 7.18% | -1.90% | 11.17% | -25.50% | 4.86% |
HYIN WisdomTree Alternative Income Fund | -6.68% | -0.46% | 7.39% | 21.84% | -21.14% | 2.73% |
Correlation
The correlation between VCLT and HYIN is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since May 6, 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.
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 | HYIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.92 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | -0.45 | +1.71 |
| Martin ratioReturn relative to average drawdown | 3.06 | -0.89 | +3.94 |
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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 | -13.32% | -12.42% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -8.18% | -9.05% | +0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 7.81% | -5.64% |
Volatility
VCLT vs. HYIN - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond ETF (VCLT) is 1.94%, while WisdomTree Alternative Income Fund (HYIN) has a volatility of 3.28%. 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 | 1.94% | 3.28% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 5.86% | 10.31% | -4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 12.92% | -5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 16.77% | -4.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 16.75% | -3.90% |
VCLT vs. HYIN - Expense Ratio Comparison
VCLT has a 0.03% 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 5.48%, less than HYIN's 13.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYIN WisdomTree Alternative Income Fund | 13.53% | 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 | 5.48% | 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 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYIN has higher volatility (3.28%) compared to VCLT (1.94%). In terms of maximum drawdown, VCLT dropped -34.31% vs HYIN's -31.10%.
On 5-year performance, HYIN leads with -1.02% vs -1.96% for VCLT. On fees, VCLT is cheaper at 0.03% per year. On volatility, VCLT has been the lower-risk option at 1.94%. 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 -1.02% return vs -1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT is cheaper with a 0.03% expense ratio, compared with 3.20% for HYIN.
HYIN has the higher dividend yield at 13.53%, compared with 5.48% for VCLT.
VCLT is categorized as Corporate Bonds, while HYIN is Diversified Portfolio. VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index, while HYIN tracks Gapstow Liquid Alternative Credit Index. They also come from different issuers: Vanguard and WisdomTree. Their fees differ too: 0.03% for VCLT and 3.20% for HYIN.
VCLT currently has the higher Sharpe Ratio (0.85 vs -0.54), 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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