VCLT vs. SPAB
Compare and contrast key facts about Vanguard Long-Term Corporate Bond ETF (VCLT) and SPDR Portfolio Aggregate Bond ETF (SPAB).
VCLT and SPAB 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. SPAB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Aggregate. It was launched on May 23, 2007. Both VCLT and SPAB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VCLT or SPAB.
Performance
VCLT vs. SPAB - Performance Comparison
Returns By Period
In the year-to-date period, VCLT achieves a -0.36% return, which is significantly lower than SPAB's 1.49% return. Over the past 10 years, VCLT has outperformed SPAB with an annualized return of 2.63%, while SPAB has yielded a comparatively lower 1.37% annualized return.
VCLT
-0.36%
-3.91%
2.97%
10.04%
-1.30%
2.63%
SPAB
1.49%
-1.97%
2.80%
6.62%
-0.27%
1.37%
Key characteristics
| VCLT | SPAB | |
|---|---|---|
| Sharpe Ratio | 1.03 | 1.26 |
| Sortino Ratio | 1.51 | 1.83 |
| Omega Ratio | 1.18 | 1.22 |
| Calmar Ratio | 0.42 | 0.49 |
| Martin Ratio | 3.11 | 4.16 |
| Ulcer Index | 3.63% | 1.72% |
| Daily Std Dev | 10.91% | 5.65% |
| Max Drawdown | -34.31% | -18.56% |
| Current Drawdown | -19.64% | -8.92% |
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VCLT vs. SPAB - Expense Ratio Comparison
VCLT has a 0.04% expense ratio, which is higher than SPAB's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Correlation
The correlation between VCLT and SPAB is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
VCLT vs. SPAB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and SPDR Portfolio Aggregate Bond ETF (SPAB). 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.
Dividends
VCLT vs. SPAB - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.01%, more than SPAB's 3.80% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VCLT Vanguard Long-Term Corporate Bond ETF | 5.01% | 4.67% | 4.44% | 3.07% | 3.16% | 3.81% | 4.55% | 4.01% | 4.33% | 4.68% | 4.29% | 4.83% |
SPAB SPDR Portfolio Aggregate Bond ETF | 3.80% | 3.34% | 2.59% | 2.11% | 2.43% | 2.92% | 2.96% | 2.67% | 2.63% | 2.61% | 2.43% | 1.99% |
Drawdowns
VCLT vs. SPAB - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, which is greater than SPAB's maximum drawdown of -18.56%. Use the drawdown chart below to compare losses from any high point for VCLT and SPAB. For additional features, visit the drawdowns tool.
Volatility
VCLT vs. SPAB - Volatility Comparison
Vanguard Long-Term Corporate Bond ETF (VCLT) has a higher volatility of 3.85% compared to SPDR Portfolio Aggregate Bond ETF (SPAB) at 1.63%. This indicates that VCLT's price experiences larger fluctuations and is considered to be riskier than SPAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.