VCLT vs. MGV
VCLT (Vanguard Long-Term Corporate Bond ETF) and MGV (Vanguard Mega Cap Value ETF) are both exchange-traded funds - VCLT is a Corporate Bonds fund tracking the Bloomberg U.S. 10+ Year Corporate Bond Index, while MGV is a Large Cap Value Equities fund tracking the CRSP US Mega Cap Value Index. Both are passively managed. Over the past 10 years, VCLT returned 2.24%/yr vs 13.43%/yr for MGV. At a correlation of -0.03, they often move in opposite directions. VCLT charges 0.03%/yr vs 0.05%/yr for MGV.
Performance
VCLT vs. MGV - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 1.27% return, which is significantly lower than MGV's 16.85% return. Over the past 10 years, VCLT has underperformed MGV with an annualized return of 2.24%, while MGV has yielded a comparatively higher 13.43% annualized return.
VCLT
- 1D
- -0.40%
- 1M
- 1.31%
- YTD
- 1.27%
- 6M
- 1.30%
- 1Y
- 6.37%
- 3Y*
- 4.08%
- 5Y*
- -2.16%
- 10Y*
- 2.24%
MGV
- 1D
- 1.09%
- 1M
- 4.51%
- YTD
- 16.85%
- 6M
- 16.55%
- 1Y
- 30.47%
- 3Y*
- 19.86%
- 5Y*
- 13.34%
- 10Y*
- 13.43%
VCLT vs. MGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 1.27% | 7.18% | -1.90% | 11.17% | -25.50% | -1.73% | 13.27% | 23.89% | -7.04% | 11.70% |
MGV Vanguard Mega Cap Value ETF | 16.85% | 15.45% | 16.94% | 9.16% | -1.22% | 25.93% | 2.50% | 25.54% | -4.13% | 16.85% |
Correlation
The correlation between VCLT and MGV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.03 |
The correlation between VCLT and MGV shifts across timeframes, from -0.03 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VCLT vs. MGV — Risk / Return Rank
VCLT
MGV
VCLT vs. MGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and Vanguard Mega Cap Value ETF (MGV). 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 | MGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.54 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 4.77 | -3.55 |
| Martin ratioReturn relative to average drawdown | 2.95 | 18.12 | -15.17 |
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Drawdowns
VCLT vs. MGV - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, smaller than the maximum MGV drawdown of -56.07%. Use the drawdown chart below to compare losses from any high point for VCLT and MGV.
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Drawdown Indicators
| VCLT | MGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -56.07% | +21.76% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -6.42% | +1.17% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -13.18% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -16.54% | -17.77% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -35.41% | +1.10% |
Current DrawdownCurrent decline from peak | -14.12% | 0.00% | -14.12% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -7.78% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 1.69% | +0.48% |
Volatility
VCLT vs. MGV - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond ETF (VCLT) is 1.91%, while Vanguard Mega Cap Value ETF (MGV) has a volatility of 3.32%. This indicates that VCLT experiences smaller price fluctuations and is considered to be less risky than MGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | MGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 3.32% | -1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 5.84% | 7.77% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 10.15% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 13.57% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 16.36% | -3.51% |
VCLT vs. MGV - Expense Ratio Comparison
VCLT has a 0.03% expense ratio, which is lower than MGV's 0.05% 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. MGV - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.53%, more than MGV's 1.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGV Vanguard Mega Cap Value ETF | 1.82% | 2.04% | 2.31% | 2.48% | 2.45% | 2.17% | 2.47% | 2.69% | 2.65% | 2.34% | 2.53% | 2.59% |
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 MGV have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGV has higher volatility (3.32%) compared to VCLT (1.91%). In terms of maximum drawdown, VCLT dropped -34.31% vs MGV's -56.07%.
On 10-year performance, MGV leads with 13.43% vs 2.24% for VCLT. On fees, VCLT is cheaper at 0.03% per year. On volatility, VCLT has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MGV has performed better with a 13.43% return vs 2.24%. 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 0.05% for MGV.
VCLT has the higher dividend yield at 5.53%, compared with 1.82% for MGV.
VCLT is categorized as Corporate Bonds, while MGV is Large Cap Value Equities. VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index, while MGV tracks CRSP US Mega Cap Value Index. Their fees differ too: 0.03% for VCLT and 0.05% for MGV.
MGV currently has the higher Sharpe Ratio (3.02 vs 0.82), 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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