VCLT vs. VGLT
VCLT (Vanguard Long-Term Corporate Bond ETF) and VGLT (Vanguard Long-Term Treasury ETF) are both exchange-traded funds - VCLT is a Corporate Bonds fund tracking the Bloomberg U.S. 10+ Year Corporate Bond Index, while VGLT is a Government Bonds fund tracking the Bloomberg U.S. Long Treasury Index. Both are passively managed. Over the past 10 years, VCLT returned 2.24%/yr vs -1.21%/yr for VGLT. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.03% expense ratio.
Performance
VCLT vs. VGLT - Performance Comparison
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Returns By Period
In the year-to-date period, VCLT achieves a 1.27% return, which is significantly higher than VGLT's 0.34% return. Over the past 10 years, VCLT has outperformed VGLT with an annualized return of 2.24%, while VGLT has yielded a comparatively lower -1.21% 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%
VGLT
- 1D
- -0.67%
- 1M
- 1.89%
- YTD
- 0.34%
- 6M
- 0.36%
- 1Y
- 4.33%
- 3Y*
- -0.80%
- 5Y*
- -5.58%
- 10Y*
- -1.21%
VCLT vs. VGLT - 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% |
VGLT Vanguard Long-Term Treasury ETF | 0.34% | 5.35% | -6.28% | 3.27% | -29.34% | -4.98% | 17.57% | 14.30% | -1.54% | 8.64% |
Correlation
The correlation between VCLT and VGLT is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.83 |
The correlation between VCLT and VGLT shifts across timeframes, from 0.83 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VCLT vs. VGLT — Risk / Return Rank
VCLT
VGLT
VCLT vs. VGLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Corporate Bond ETF (VCLT) and Vanguard Long-Term Treasury ETF (VGLT). 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 | VGLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.09 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 0.62 | +0.60 |
| Martin ratioReturn relative to average drawdown | 2.95 | 1.54 | +1.41 |
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Drawdowns
VCLT vs. VGLT - Drawdown Comparison
The maximum VCLT drawdown since its inception was -34.31%, smaller than the maximum VGLT drawdown of -46.18%. Use the drawdown chart below to compare losses from any high point for VCLT and VGLT.
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Drawdown Indicators
| VCLT | VGLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.31% | -46.18% | +11.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.25% | -7.01% | +1.76% |
Max Drawdown (3Y)Largest decline over 3 years | -13.03% | -17.68% | +4.65% |
Max Drawdown (5Y)Largest decline over 5 years | -34.31% | -40.98% | +6.67% |
Max Drawdown (10Y)Largest decline over 10 years | -34.31% | -46.18% | +11.87% |
Current DrawdownCurrent decline from peak | -14.12% | -36.35% | +22.23% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -15.12% | +6.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.81% | -0.64% |
Volatility
VCLT vs. VGLT - Volatility Comparison
The current volatility for Vanguard Long-Term Corporate Bond ETF (VCLT) is 1.91%, while Vanguard Long-Term Treasury ETF (VGLT) has a volatility of 2.09%. This indicates that VCLT experiences smaller price fluctuations and is considered to be less risky than VGLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VCLT | VGLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 2.09% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 5.84% | 6.08% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.84% | 8.62% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 14.53% | -1.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.85% | 13.82% | -0.97% |
VCLT vs. VGLT - Expense Ratio Comparison
Both VCLT and VGLT have an expense ratio of 0.03%, 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. VGLT - Dividend Comparison
VCLT's dividend yield for the trailing twelve months is around 5.53%, more than VGLT's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VGLT Vanguard Long-Term Treasury ETF | 4.57% | 4.44% | 4.33% | 3.33% | 2.84% | 1.82% | 2.15% | 2.46% | 2.71% | 2.55% | 2.69% | 3.21% |
Frequently Asked Questions
With a correlation of 0.92, VCLT and VGLT 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.
VGLT has higher volatility (2.09%) compared to VCLT (1.91%). In terms of maximum drawdown, VCLT dropped -34.31% vs VGLT's -46.18%.
On 10-year performance, VCLT leads with 2.24% vs -1.21% for VGLT. Both ETFs have the same 0.03% expense ratio. 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, VCLT has performed better with a 2.24% return vs -1.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VCLT and VGLT have the same expense ratio: 0.03% per year.
VCLT has the higher dividend yield at 5.53%, compared with 4.57% for VGLT.
VCLT is categorized as Corporate Bonds, while VGLT is Government Bonds. VCLT tracks Bloomberg U.S. 10+ Year Corporate Bond Index, while VGLT tracks Bloomberg U.S. Long Treasury Index.
VCLT currently has the higher Sharpe Ratio (0.82 vs 0.51), 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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