VCLT vs. ILTB
VCLT (Vanguard Long-Term Corporate Bond ETF) and ILTB (iShares Core 10+ Year USD Bond ETF) are both exchange-traded funds - VCLT is a Corporate Bonds fund tracking the Barclays U.S. 10+ Year Corporate Index, while ILTB is a Long-Term Bond fund tracking the Bloomberg U.S. Universal 10+ Year Index (USD). Both are passively managed. Over the past 10 years, VCLT returned 2.31%/yr vs 1.32%/yr for ILTB. Their correlation of 0.84 suggests significant overlap in exposure. VCLT charges 0.04%/yr vs 0.06%/yr for ILTB.
Performance
VCLT vs. ILTB - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 0.99% return, which is significantly higher than ILTB's 0.30% return. Over the past 10 years, VCLT has outperformed ILTB with an annualized return of 2.31%, while ILTB has yielded a comparatively lower 1.32% annualized return.
VCLT
- 1D
- -0.35%
- 1M
- 1.49%
- YTD
- 0.99%
- 6M
- -0.04%
- 1Y
- 7.69%
- 3Y*
- 4.34%
- 5Y*
- -1.78%
- 10Y*
- 2.31%
ILTB
- 1D
- -0.33%
- 1M
- 1.04%
- YTD
- 0.30%
- 6M
- -0.71%
- 1Y
- 7.17%
- 3Y*
- 2.78%
- 5Y*
- -2.88%
- 10Y*
- 1.32%
VCLT vs. ILTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 0.99% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
ILTB iShares Core 10+ Year USD Bond ETF | 0.30% | 7.22% | -3.00% | 8.04% | -26.62% | -2.67% | 16.10% | 19.61% | -5.10% | 11.24% |
Correlation
The correlation between VCLT and ILTB 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 | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2009 | 0.84 |
The correlation between VCLT and ILTB shifts across timeframes, from 0.84 (all time) to 0.97 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCLT vs. ILTB — Risk / Return Rank
VCLT
ILTB
VCLT vs. ILTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and iShares Core 10+ Year USD Bond ETF (ILTB). 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 | ILTB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.16 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.33 | +0.14 |
| Martin ratioReturn relative to average drawdown | 3.62 | 3.38 | +0.25 |
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 | ILTB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 0.91 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | -0.23 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.11 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.35 | +0.04 |
Drawdowns
VCLT vs. ILTB - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, smaller than the maximum ILTB drawdown of -36.88%. Use the drawdown chart below to compare losses from any high point for VCLT and ILTB.
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Drawdown Indicators
| VCLT | ILTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -36.88% | +2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -5.42% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -14.60% | +1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -35.22% | +0.91% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -36.88% | +2.57% |
Current DrawdownCurrent decline from peak | -14.36% | -21.28% | +6.92% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -9.92% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 2.13% | 0.00% |
Volatility
VCLT vs. ILTB - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond ETF (VCLT) is 2.31%, while iShares Core 10+ Year USD Bond ETF (ILTB) has a volatility of 2.50%. This indicates that VCLT experiences smaller price fluctuations and is considered to be less risky than ILTB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | ILTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 2.50% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 5.75% | 5.54% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 7.88% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 12.64% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 11.56% | +1.28% |
VCLT vs. ILTB - Expense Ratio Comparison
VCLT has a 0.04% expense ratio, which is lower than ILTB's 0.06% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VCLT vs. ILTB - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.55%, more than ILTB's 4.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ILTB iShares Core 10+ Year USD Bond ETF | 4.96% | 4.83% | 4.91% | 4.38% | 4.31% | 3.04% | 3.32% | 3.45% | 4.13% | 3.97% | 3.99% | 4.20% |
VCLT Vanguard Long-Term Corporate Bond ETF | 5.55% | 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 ILTB 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.
ILTB has higher volatility (2.50%) compared to VCLT (2.31%). In terms of maximum drawdown, VCLT dropped -34.31% vs ILTB's -36.88%.
On 10-year performance, VCLT leads with 2.31% vs 1.32% for ILTB. On fees, VCLT is cheaper at 0.04% per year. On volatility, VCLT has been the lower-risk option at 2.31%. 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 2.31% return vs 1.32%. 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 0.06% for ILTB.
VCLT has the higher dividend yield at 5.55%, compared with 4.96% for ILTB.
VCLT is categorized as Corporate Bonds, while ILTB is Long-Term Bond. VCLT tracks Barclays U.S. 10+ Year Corporate Index, while ILTB tracks Bloomberg U.S. Universal 10+ Year Index (USD). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.04% for VCLT and 0.06% for ILTB.
VCLT currently has the higher Sharpe Ratio (0.97 vs 0.91), 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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