VCLT vs. USIG
VCLT (Vanguard Long-Term Corporate Bond ETF) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both Corporate Bonds funds - VCLT tracks the Barclays U.S. 10+ Year Corporate Index while USIG tracks the ICE BofA US Corporate. Both are passively managed. Over the past 10 years, VCLT returned 2.31%/yr vs 2.63%/yr for USIG. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.04% expense ratio.
Performance
VCLT vs. USIG - 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 USIG's 0.56% return. Over the past 10 years, VCLT has underperformed USIG with an annualized return of 2.31%, while USIG has yielded a comparatively higher 2.63% 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%
USIG
- 1D
- -0.23%
- 1M
- 0.56%
- YTD
- 0.56%
- 6M
- 0.37%
- 1Y
- 6.04%
- 3Y*
- 5.46%
- 5Y*
- 0.72%
- 10Y*
- 2.63%
VCLT vs. USIG - 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% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.56% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
Correlation
The correlation between VCLT and USIG 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 | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.88 |
The correlation between VCLT and USIG has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.
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Return for Risk
VCLT vs. USIG — Risk / Return Rank
VCLT
USIG
VCLT vs. USIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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 | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.26 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.17 | -0.70 |
| Martin ratioReturn relative to average drawdown | 3.62 | 7.07 | -3.45 |
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 | USIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.47 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.11 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.39 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.54 | -0.14 |
Drawdowns
VCLT vs. USIG - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, which is greater than USIG's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for VCLT and USIG.
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Drawdown Indicators
| VCLT | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -22.21% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -2.79% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -6.10% | -6.93% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -21.45% | -12.86% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -21.45% | -12.86% |
Current DrawdownCurrent decline from peak | -14.36% | -0.97% | -13.39% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -3.42% | -4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 0.86% | +1.27% |
Volatility
VCLT vs. USIG - Volatility Comparison
Vanguard Long-Term Corporate Bond ETF (VCLT) has a higher volatility of 2.31% compared to iShares Broad USD Investment Grade Corporate Bond ETF (USIG) at 1.27%. This indicates that VCLT's price experiences larger fluctuations and is considered to be riskier than USIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 1.27% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 5.75% | 3.04% | +2.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 4.13% | +3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.78% | 6.82% | +5.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.84% | 6.82% | +6.02% |
VCLT vs. USIG - Expense Ratio Comparison
Both VCLT and USIG have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
VCLT vs. USIG - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.55%, more than USIG's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.74% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
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 USIG 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.
VCLT has higher volatility (2.31%) compared to USIG (1.27%). In terms of maximum drawdown, VCLT dropped -34.31% vs USIG's -22.21%.
On 10-year performance, USIG leads with 2.63% vs 2.31% for VCLT. Both ETFs have the same 0.04% expense ratio. On volatility, USIG has been the lower-risk option at 1.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USIG has performed better with a 2.63% return vs 2.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT and USIG have the same expense ratio: 0.04% per year.
VCLT has the higher dividend yield at 5.55%, compared with 4.74% for USIG.
VCLT tracks Barclays U.S. 10+ Year Corporate Index, while USIG tracks ICE BofA US Corporate. They also come from different issuers: Vanguard and iShares.
USIG currently has the higher Sharpe Ratio (1.47 vs 0.97), 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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